I tried to transfer US Dollars to 2 separate clients in Tanzania who I have dealt with before. This year significant problems have begun to emerge as funds transit through intermediary banks in the US. To cut a long story short I've suffered multiple bounce backs and incurred 100's of pounds in extra fees. HiFX know this to be a problem but provide no caution or advice because they make money from both successful and unsuccessful transfers. I won;t be using them again.

Have used them a number of times now and each time I'm struck with just how good they are.

I have had a personal account with Hifx for 3 year with very little problems. Then randomly they asked me to upgrade my account. As I was in the middle of a transaction I asked if it would cause any delay and 4 people ensured me it wouldn’t but as I was doing regular transactions they wouldn’t allow anymore until the upgrade was complete. I wish id left…. It took huge amounts of wasted time to jump thought all their pointless hoops and basilly apply for an account that I already had. Then about 2 weeks of crappy customer service and broken promises that all was now sorted and done. I have just received an email telling me the fund I transfused (another 2 weeks ago) never actually went!!! I thought it was a fraudulent email but no. After calling them, its not. Use another company.

I wanted to transfer a relatively small amount from the UK to South Africa. I spent some time registering with HiFX and setting up the payment, but only then did the system say that my transfer amount was too small. The limits and fees should be made very clear right at the beginning of the process. How can these inefficient people survive against the likes of TransferWise or WorldRemit?

What a waste of my time, after several emails and phone calls at my expense , they tell me I can only carry out my required transaction over the phone and not online as advertised.

I came across HiFX when I was looking for a currency trade platform to use for a £12,000 transaction (pound to dollar), I import goods from China to sell online. I decided to go with HiFX, the last stage of HiFX's website stated I could only make the trade by BACs, which I found very inconvenient as I had the money in a business account which doesn't have online banking. I was forced to transfer the money using a personal account, and when HiFX received the payment they advised me that I would need to use my business account even though the payment showed up with my name and I'm verified as the sole director of the business which has the account with HiFX. I told them to return my money and would go with American Express who have been chasing me to trade currencies using their platform - they offer free trades, match HiFX rates and let's not forget points too (if you use AMEX, you'll know these points can be used to realistically earn free return flights or an iPad). HiFX came back to me and said they could freeze the rate for 2 weeks to allow me to set up an online banking account, which would have been good 2 weeks ago, the payment urgently needed to go out, so I told them I couldn't wait and asked for my money (again) and then they came back to me and said do I want to cancel the trade (????). In the end, I was told the contract could be cancelled, but I would need to pay £67 due to the rate difference, which comes up to 0.55% of the trade, however the market had moved by 0.2%, so they added 0.32% as margin for a trade they never carried out! HiFX is an extremely untrustworthy company and one I would recommend steering very clear of if you want to hold on to your money and be treated respectfully & honestly.

THEY TOOK MY MONEY AND AFTER TWO WEEKS NO IDEA WHERE MY MONEY IS. REALLY TERRIBLE AND I DONT KNOW WHY I TRUSTED THEM.

I had to sent almost EUR6,000 a couple of weeks ago. Exchange was from £ to EUR. Exchange rate was 1,1894 and I was given 1,1774 which was a good exchange rate. No fees were charged. Today I had to transfer money from £ into EUR again but needed only EUR320 to pay a bill for my mother in law. Exchange rate was 1,1954 and I was given an appaling 1,1407 !!!! On top there was a £9,00 fee and as I paid with my credit card another £4,00 in fees. I called them and the normal blablabla. She told me that the exchange rate was generated by computer and she can't do anything about. it was a very poor exchange rate. My bank would have given me much more and money exchanger on the high street were giving 1,1725 and no fees. I just used them again as my mum in law needed a quick transfer to pay a bill. I'm not using them anymore.

I needed to change GBP 20,000 to Euros and used a currency exchange company called HIFX. I transferred GBP 20,000 to HIFX and they "lost" my money for over 3 weeks, lied about it by saying the money was lost by the banks, they lied as they mistakenly admitted in an e-mail. Now deny any responsibility. Their actions cost me well over a 1000 in fines due to late payment.... Their customer service during those weeks was appalling or even non existent, they did not reply to e-mails and gave me the run around on the phone for weeks. Be smart and use anther company for currency exchange ! If you do not believe me, I am more than willing to forward all e-mails.

HiFX make moving currency a breeze and give much stronger rates than the banks do online. Funds clear quickly and the customer service team is accessible and efficient. They are saving me GBP400 a year in fees i was paying to my bank and have beaten all quotes from my bank considerably. Having used a similar company in the past who I gave up on due to lengthy delays in funds clearing I was sceptical on trying again but I am extremely impressed.

By phone it was easy and professionally handled. Now you can transfer using only the internet it's even easier...everything you need to know is carefully and fully explained, and the transfer was so much quicker and yielded so much better than a SWIFT through the bank. I would heartily recommend the HiFX service to anyone wanting to transfer funds. There is absolutely nothing I haven't liked about using this service...it's impeccable!