DO NOT USE XE TRADE- FRAUD!!!!

I used XE Trade for 2 transactions (wire transfer to Africa to pay hotels/tours for vacation). I had read online they were reputable and get a good exchange rate. They do get a good exchange rate, but it is much easier (time and efficiency) to just do the transfer through your bank.

My first transfer was to South Africa. I did direct EFT from my bank account and provided the receiver's account number and swift code. XE Trade then told me that they need an IBAN which is only true for European banks. Swift codes and bank accounts are all that are needed for transfer to Africa. It took me 2 days and 4 phone calls before someone was able to complete the transaction for me.

For my second transaction, I sent Mozambican meticals to a hotel in Mozambique. Their bank is located in South Africa. I did the first 50% deposit via my bank without any problems 3 months ago. When I did it through XE Trade, they informed me 4 days after money was wired to them from my bank that they cannot complete it because the currency is meticals and it's a South African bank. Again, untrue, You can wire any type of currency to any country. They are now in the process of returning the money to my account which will take 3-5 business days... and guess what? I have to go to the bank again to do the wire myself.

They may get a better exchange rate but they won't get the exchange done and you'll end up at the bank anyway after hours of transaction. Don't waste your time. Just go to the bank and skip this crappy service.