- Verified customer
Not interested in customer service
I have been using XE for over a year. Despite issues on the first few transfers (which were time critical as the money was needed for a property settlement in Thailand) where they were late getting the money to me and even forgot one transfer, for months after it was a good system (a bit slow) and way better than the banks. In July last year, they decided to make changes to their system, supposedly to improve the time taken for transfers and eliminate fees being charged at the receiving bank end. They did this by using a local Thai bank account...in their sister company RIA's name, so that the transfer in effect was a local bank transfer as opposed to previously coming through Barclays Bank (what was taking the time) and the receiving bank would charge a fee as well (not charged for inter bank transfers within Thailand). I trialed this new system once and then realised that there was a problem. I am an expat (along with thousands of others in Thailand) who is here on a retirement visa, using the receipt of 65,000 Baht per month pension system to meet my visa requirements. The requirement is however, you must show (by a code in your bank book) that the deposits originate from overseas. Under this new system, because they were using a local (RIA's account) bank account, the code in my bank book showed a local transfer, not an international deposit. I verified that this was no good with immigration (as it could be anyone in Thailand transferring the money to you and could even be wages when you are not allowed to work, only retire). They will not accept confirmations from your overseas sender, the money must show in your passbook as an International Transfer. I approached XE about this problem and was basically fobbed off with we will look into it. In the meantime, they told me that all I could do is go back to using the old system each month but that to do so, would mean I could no longer do it on-line and would have to speak to them on the phone each and every time (easy to do from Thailand ha ha). Every month for many months, I would speak to them but what I found was this; 1) They gave me a lower rate than the rate for an on-line transaction (on 70,000 baht it was about AUD$10 more) 2) I was back to being charged 200 Baht per transaction by my bank, 3) It was taking days for the money to arrive 4) on at least two occasions the money did not arrive on time as it was supposed to, 4) The staff made numerous mistakes on my transfers and did not stay up to date with holidays affecting the transfers (not only Australian but New Zealand, Thai and even USA as when there is a holiday in the USA, the whole foreign currency market worldwide shuts down). 5) As if it wasn't hard enough dealing with the time difference between Thailand and Australia (complicated more when daylight saving time), they claim to be represented in Australia with an Australian License number but in reality, they operate out of New Zealand so add another two hours on to the time. There cutoff time was 12 midday NZ time so unless I wanted to get up at 4am, there was no way of making a transfer go out the same day. The new system fixed a lot of these issues but was useless to me and thousands of others because of the coding. Month after month I complained and explained the problem for myself and others, especially when I had to chase a missing payment, but as usual it was "oh, there is nothing we can do". I told them time and time again, that this would end up costing them customers and business, but to no avail. This month was my twelfth monthly pension payment and I put up with the issues to keep continuity for my visa renewal. However, in this past few weeks I started researching other companies. I tried TorFX but found the same issue with the coding. Then I started looking at TransferWise. During the time of emailing questions, I ran into some other expats visiting my city. We got talking about this issue and they said that one of the head guys of a big expats Facebook group in Chang Mai had realised this issue and raised it with TransferWise (who use the same procedure as the new system with XE - a local bank transfer). Instead of just putting it in the too hard basket, TransferWise structured their system that as long as you chose the option: 'Reason for transfer' - "Long Term Stay", it would show the correct code, even though it was transferred locally as obviously, the purpose had been modified to create an origination source, not just a local transfer. Today I tried it out with a test run and low and behold, the payment 1) Came through in a matter of hours, 2) Had no bank fees at my end and 3) Shoed the deposit as an International Transfer. Happy Days. I haven't got back to XE yet and I am a person who when you do good, I promote your business (and have referred new customers to them) but when you do bad, I believe in letting them and others know. I have no interest in TransferWise other than to share my good news of finding a company that can meet my (and so many others) needs. There contact ability could improve a bit but given the ability to do the whole transfer on-line, there is not an urgent need to talk to the a lot anyway. I will make a point of sending this information to the highest level within XE (not Australia / New Zealand) in the UK and let them know of the damage done to their reputation. I may not be a customer sending huge amounts of money but I am a customer, who would have been sending money every month, for many years to come.
I signed up for an account based on the advertised exchange rates on their front page (about 5 pips from mid market), which seemed reasonable. After opening the account, and attempting to make a transfer, the actual rate they use is about 50 pips from mid market, which is about what a full commercial bank charges. Completely false advertising. Their rates are extremely expensive.
- Verified customer
Useless waste of time and money.
I send money abroad often, mostly I use services like WorldRemit.
I thought I would give XE a go, I’ve used their app for years to obtain information on exchange rates, why not?
Where to begin my nightmare...
It’s now day 9 since transaction was started.
Day 1. Submitted transfer request and had to manually transfer from my bank to XE’s bank (called HiFX Limited), thought it was strange, why not just a payment gateway on their app?
Day 2. Received an email from XE stating they had the transfer to their account and were proceeding to pay my bene...
Misleading information online!"no fee" transfer fee.
First timer transfer. It's written allover the internet about XE being a 'no fee' transfer fee, however there is a fee of $4 if one wishes to transfer under $500. Apparently, this only applies to new customers.
- Verified customer
Best money transfer service , I have ever used. Having used many money transfer services, finally a service which offers higher rates and quick transactions. The UI is bit basic, but who cares., it gets the job done.
Do not make mistakes
Make sure you book in the contract at the exact amount, this does not work like a bank... As it is not a bank. If the money does not exist in your account they can amend the contract an you will not be charged. If money does exist they can charge 700usd to cancel out a contract. The app was showing more money than the website.
Couldn't make it more difficult. And couldn't take longer.
XE is advertised as being quick and easy. In reality it's complicated and takes endless days. The process of setting up an account and transferring money is counter intuitive with every step adding to the time. They request setting up an OSKO or PayID account with your bank - 'to make transfers quicker'. What they don't tell you is it takes 48 hours to confirm the facility and be able to use it. So you try OSKO - because 'it's the quickest way'. Then you find that takes 24 hours to set that up. Nothing is quick and nothing is easy. It has take...n 5 days so far to transfer less than $300 and every step is slow and tedious, and you only find out what not to do by them telling you what you have just done is incorrect. When I challenged XE on why it takes so long I was told 'because of money laundering procedures'. I'm transferring $300 - hardly drug cartel territory. And it's still days away from transferring the funds overseas. And they don't work outside monday to friday business hours - no support, nothing. It's like trying to send money in the 1990's, but slower.
Highly unreliable with seriously bad funds tracing capabilities.
This has not been a good experience for me. After 10 days the money is still not deposited in the recipients bank account. Other transfer companies didn’t have this problem. I was lured to XE by their attractive exchange rate. The transfer was from Australia to Thailand. I’ve made several calls to the registered Australian Help centre number. The best they could offer was to assure me, the money did get delivered to their in-country “provider”/Agent. Okay, so then what ? They don’t seem to know how or have anyway to trace further. Really unpro...fessional. I guess I’ve lost my money ! Even if I eventually get my money back, I wouldn’t bother risking a repeat performance. In summary, highly unreliable. My first and last transaction with this company. A further update. Now 14 days and no progress. I did learn that XE used RIA to make the transfer. Seems they are related organisations. However that seems to have complicated the destination deposit trace. Further update: now 21 days and no delivery and no feedback even after numerous phone calls and emails. Recall, this is a very simple bank to bank transfer to a long established bank account at a highly reputable Thai Bank.
The best money transfer to Philippines.
Great rates, quick transfer and no fees. It sounds too good to be true but what i am saying is real. We normally use western union and remitly and just bump into Xe at google. Sent AUD12000 in the morning and received the money in Phil account in the afternoon. Exactly the same amount in Peso as stated in my confirmation receipt. I don't normally give reviews, this is the first time i gave a review for a money remittance company. Thanks heaps XE. Very happy customer here from Melbourne
waste of time, stay well clear of XE
I created an accouint with XE as per instruction on there website. The following day I tried to contact XE to get my account number via the phone number supplied by XE. After spending 1 hour and 10 minutes on hold, I simply give up. I have no idea how XE is conducting there business.
- Verified customer
Long-time customer - with no problems
I have been using XE for around 10 years, during which time I have transferred a total of around $150k in ~30 transactions. Initially I had to jump through a few hoops to submit my banking details, and there was a little back and forth during this process to ensure that everything was correct. I have since had to verify my banking details once.
I have only transferred AUD to CAD and also the reverse, and never had any problems with the transfer. Specifically: The rate quoted during the process gets locked in for 60 seconds, and if I confirm the...
Best transfer company. Great service
XE are the best transfer business I've used. They have the best rates and service. They are fast and courteous. Always extremely professional. Would reccomend XE to anyone wanting to transfer currency
Do not go with them! I sent $200 equivalent to Malaysia- receiver was suppose to get around 550 in local currency but only 446 was deposited into the account. After reading other reviews I discovered that many many others also had similar issues. Iv use WU and my bank prior and always the correct amount was deposited. XE is a ripp off!!!!
- Verified customer
They give less rate and less money
I am transferring money to India for past 7 years. Used XE for first time and when I transferred 250$ (to test how it goes) as per XE I will get 11456 INR but I received only got 10630 INR almost 17$ less. Called XE and they said bank in India has charged but I never seen anything like that when I transfer from Western Union or Remit2India. Their rate is even less than Western Union and others.
Raised a complaint and didn't get any ticket no or any update after that and I am disappointed with XE.
XE is a website where everyone take reference but really disappointed with the way my transfer went and will never transfer through XE again. Luckily I was testing and didn't send more money from XE.
Not recommended - had to pay extra after transaction.
Beware of the No confirmation scam. When checking the rates it created a transaction or multiple transactions and contracts. Forcing you to pay multiple transfer fees for one transaction. Beware! Similar to others who has put a review here. Untrustworthy.
- Verified customer
Cannot cancel created transaction online
When I created a transaction, the website did not tell or show anyhow and how much fee when I want to cancel the transaction. Now I have to pay a large amount of fee to cancel the transaction.
- Verified customer
Con Job Do Not Trust This Company.
This company intentionally deceives customers. I just subscribed for this service and have yet to even execute a single transfer and will never. I will be raising a case with Dept of Fair Trading, NSW under false and misleading advertising. So as following.
1. They advertise on the main money transfer web page that they process sending money to 160 countries. This does not mean they support sending 160 different currencies. This is a sleight of hand trick.
2. If you checked their FAQ(well hidden) it will say they support 60 currencies to 170 ...countries. First inconsistency. 3. Upon successfully subscribing and when you try and transfer in my case from AUD to MYR(Malaysian Ringgit) to it will not appear as an option in fact you can only send FROM 21 currencies TO 41 different currencies which does not include MYR. More false information. 4. As for they support numbers in Australia it is only Mon-Friday New Zealand business hours when calling the Australian toll free and direct numbers so the number is not even an Australian number. They indicate on their website that this is an Australian number and in this age and time are even unable to let customers know that it is NOT a 24x7 call center.
Do NOT use their service. It is fraud. I tried to send USD90K to Hong Kong for business purpose, but they couldn't send the money and the money was returned to me 22days later. And they deducted $10 for fee. It was such a nightmare until the money was returned to me. One of most horrible experience in my life!
The reviewer stated that an incentive was offered for this review
- Verified customer
Don't waste your time and money
Very bad experience. The money took almost 13 days to get to the recipient and it was received 13% less than transferred amount. I used XE because I thought it is cheaper than WU but I was wrong. First and last time to use XE. Not recommended at all.
Questions & Answers
does all the money you send arrive?? this is the biggest dilemma that no one can answer? i assume that is because this is just another way of charging a fee and saying oh we do not charge a fee, thats another bank or intermediary bank that no one know who it is lol. Any way XE do that or not?
In my last transfer to Thailand, the amount that arrived was a bit less than what I sent (like $2 less or so).
The reason was not at all clear, but some in-Thailand transfers are subject to an in-country charge, so maybe that's got something to do with the reduction. I would imagine the Bank that XE/RIA uses in Thailand is not the same as my Bank. They wouldn't necessarily know in advance of what all the different banks in Thailand charge or (for that matter), what all the in-country banks charge, in every country. This is just my guess. Of course in many countries there is no in-country bank-to-bank transfer charge. Of course, that doesn't help you much in trying to estimate actually, what will actually be delivered.
It's difficult to answer. I sent money and the whole amount was paid to the vendor I was buying from. But this will vary from bank to bank - depending on their policies around money transfer. you will need to check the specific bank you are transferring to.
How can send money from Aud to Bangladesh Taka currency I I
XE have been heavily criticised for applying "hidden Fees". These are usually taken by intermediaries in their transfer process , the specific amounts of which you are not advised of in advance. These hidden fees seem to be associated with transfers to just some specific counties. You should check the complains to see if Bangladesh is one of those countries. My personal experience with XE is to a particular country, and that was NOT GOOD.
I have used Instarem to Indonesia and so far they have been very reliable (but a bit slow).
Using Xe Money transfer is the fastest and the easiest way I have experienced so far. I sent $15K on a Friday last month and it was deposited in my Philippine bank account the following day without any deduction at all. I don’t know how this was made possible but i am just really happy with the outcome. I think they get kickback depending on how the exchange rate goes.
From the United to UAE HOW LONG?
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