So easy and quick
We transferred from New Zealand to Australia. Sent the order Friday night, electronically transferred our money to XE on Saturday morning and had the cash in our Aus bank account by lunch on Monday. So easy to use. The customer support was exceptional (this was our first time so we had a few questions). Did not loose a cent to any other fees, the exchange rate was a lot better than the bank. I would recommend to my family and friends.
- Verified customer
Absolutely horrible, avoid at all cost.
I made a fund transfer on Wednesday, on Friday afternoon they sent a request asking me to provide more information which Immediately did. Now after almost 2 weeks, after multiple follow ups, they still cannot provide me an accurate answer on when would the fund be released. No proper tracking at their end, once the fund is held by intermediary bank, this is it. I keep having to ask my recipients to check the fund everyday.
Worst customer experience ever! Should have trusted the negative review before deciding to transfer with them, go with another provider, I would probably be able to make 4 different transfers during the period.
NO NO BIG 4s FOR FOREX TRANSFERS
Use Transferwise much better forex rates than PayPal, xe etc. DON'T EVEN THINK OF USING BIG 4 BANKS FOR FOREX THEY WILL RIP YOU LIKE ANYTHING. I pity people who are unknowingly being ripped by these banks at all levels be it forex rates, hidden charges, interest rates, annual fees and what not.
Total Scam .. Don't use XE for transferring money
I was lured by "No Fees" of XE and their fake "Best Exchange rate " ad. I have transferred money to India . I got confirmation email and exact amount which I am going to get in my account . after 5 days I upon checking with my bank account money I received was very less ( 16% less money than XE's confirmation written email ). i rang them and ask and guess what ? I have been told that "intermediaries banks " would have deducted that money and they can not provide any deduction details .
Total scam , avoid this XE at any cost . I am going to re...port this XE on ACCC and Moneysmart . Please lodge a complain here if you have face the same issue https://www.moneysmart.gov.au/media/559618/how-to-complain.pdf https://www.scamwatch.gov.au/report-a-scam
Stay away from XE money transfer
I initiated a transfer of $500 so I was provided with a invoice to deposit the funds in their account so they can transfer funds I realised I don’t have enough money so I initiated another transfer of $350 and transfer $350 to the nominated bypay account for XE. The converted amount against $350 was deposited into my receiver's account less then what was the written quote provided to me. A week later I receive a email from XE intimidating me stating I have not deposited funds in their account for the first transaction of $500( which I did not g...o through) stating it’s a legal binding and XE can held you for losses and recover the cost from you WTH!!!. How when no service has been provided just to initiate a transfer XE will charge you without them transferring a dime or provide 0 service Stay a million miles away from XE
I was sceptical after reading the reviews but WOW did they deliver what they said
First time user. Easy to sign up to an account with drivers licence and utility bill as proof. I needed to send $25,000 from my UK bank to my AUS bank. Watched the rate go up and down over weeks, when it started to go up last night and hit a AUD$ number I aspired too I hit the transfer button which locked in the rate. They emailed me straight away with a UK bank account to transfer the sterling in, which I did within the 2 hours.
Got an email last night after I had paid saying saying that they had received my sterling and:
"On the rare ...occasion that we require further information about your payment, to meet our Anti Money Laundering obligations, we'll contact you before we send your payment." So I thought that I would be required to send them more info. Then went to bed worried that I had done the right thing, not trying a test amount etc, was it really a scam company? Were they going to claim that something had gone wrong or rip me off with extra charges etc? Another email received 7.43 am this morning saying:
avoid this scam company at all cost
First time user, tried to transfer $300 to my niece in New Zealand. I made transferinto their account, 3 days later i recieved an email from them requiring reciepients passport details? What for, it's a suprise present to her, why do you need her passport details and why should I submit her private passport detils to you?. Now 5 days later i want my money back. They are dragging their feet not to refund my money. still waiting for the refund
After a less than satisfactory experience trying to set up an account with InstaReM a friend recommended that I try XE Money Transfer. I was able to set up my account easily and arrange the transfer and at all stages during the transfer process I was kept informed by either email or SMS. The funds reached the designated account within four business days so I will definitely use them again when I need to transfer money overseas. The negative reviews I have read are at complete odds with my experience with XE Money so I would recommend that you try their service and then make up your own mind.
- Verified customer
Scam artists. Avoid this company. They will hold your money and not return it
Back in August of 2019, I signed up for their service so that I could transfer money from my US bank to my Colombian bank. After signing up and transferring my money, the next day, this is the email I received from them:
"Thank you for being a client with XE Online Money Services. Unfortunately, we are unable to assist you with your current transaction and the contract has been cancelled. To ensure you receive your funds back the quickest way possible, please contact your bank and request their assistance in recalling the funds. We are not abl...e to return the funds back to you without their assistance. In addition your account will be closed." No explanation. They didn't tell me which bank I was supposed to contact (The sending bank? The receiving bank?). They basically held onto my money without giving me any explanation as to how I can get it back. Avoid these guys. They are a scam. I called Bank of America and the rep told me that XE could simply cancel the transaction on their end in order to release the funds back to me, something that XE refused to do. So basically, they're holding onto my money in the hopes that I don't fight for it. Well, they're barking up the wrong tree. I'm going to make sure that as many people know about their scam and avoid using XE. I'm surprised they've been able to stay in business this long. I will be taking my business and going to xoom, which is far more reliable and professional.
Problems with the first transfer
I joined XE and it all seemed so simple, wanted to transfer money from Aust to my NZ account.
XE SMS me "We have sent your payment NZDxxx to you" That is sent the money to my NZ Account.
Then 4 days later I get another SMS "You"ll be sent notification once we've sent your currency"
The problem was an extra 0 in the account number, so my fault.
Better communication from XE could have resolved this issue straight away.
I don't understand the negative reviews
I have used XE for some years now for regular transfers from Australia to our bank in Italy, using the IBAN account code. There are no charges either by XE or by the receiving bank, and the exchange rates are better than bank rates (which also incur transfer charges on top of that).
I do everything online, and the confirmation emails tell me exactly where we're at. I have never had a problem, and frankly don't understand the negative reviews about this being some shonky scam. It's not, this is a large and respected company. I'm wondering if the people writing the reviews are scamming XE because they're working for the opposition...
Unprofessional and Dishonest
We did mistake and deposited $2000 cash in xe account. Transfer policy of xe is online transfer.
We have spoken twice on phone with xe to resolve the matter either release funds to destination or to refund.
They promised to call us back no call back for the past 6 days.
We have sent the email 5 days ago and no response back from them via email.
We called up today. Mr rohan answer the call and has advice that the operator is on holidays.
Xe holding funds and my wife and kids need monies. Xe simply rotating our funds and not escalating the matter....I was raising concern about his work collegue unprofessional approach. And i was upset and advise to Mr. Rohon that you work collegue gone for holidays with her boyfriend without chasing or passing our matter to the team and my family suffering with no food. Mr. Rohan hangup on me. Very bad and unprofessional staff. Never use XE. I Recommend Western Union. I am so upset xe is not resolving and using our funds and using delaying tactics.
Though they mention no transfer fees. The funds receives on the other end will be well below what you ordered and they will tell you its intermediate bank fees which you won't have a proof for and no invoices that they are paying tax on the money they take from you. Scammed!!!!! Stay awayyyyyy.. They screw every customer like that..I'm closing my account with them..
Stay away from these clowns
Rang to enquire about thier servive and informed them i wished to move some $$$$ from NZ to Ozy. They emailed with some details but i eventually decided not to use thier service. They replied back that since i didnt use them i owed them over 5k as they borrowed money for the possible transfer. Then sent a contract after the fact. They have crazy bussiness model and my advice is stsy away from them.
- Verified customer
Wonderful experience and saved me a decent chunk of money
I had to get some USD converted to AUD and knew to avoid the banks. I was going to go ahead with OFX but noticed that XE also did money conversion. Not sure why I thought of it so late as I frequently visit their site to check the conversion rates. However, I was surprised to see that XE was almost 30% better than OFX too. Since then I had one person help me with the initial setup and once I sent them the money they created a market order for me. Recently when the AUD fell, it was triggered and a couple of days later I had my money in the bank.
I have used Currency Online for several years, unfortunately they have been taken over by XE. With Currency Online, I created a Rate Alert. This alert expired in Feb and I thought nothing more of it until I received an order from XE. Having explained my reasoning about the fact it was a now expired rate alert, they suspended my account with the terse comment - Please note these are legally binding contracts and you are required to settle in full.
Really disappointed with the attitude. Mu business is not important to them, so I will take it elsewhere.
Rates are Good, No fees when sending but receiving end charges fees, 3/4 days transaction
Performed several transfers from Australia to Thailand Accounts, using different companies to same bank accounts.
Best rates change from company to company each day. So I now check and use the better offer but include an additional % deduction against XE because of fees at receiving end . Beware there may be fees even though XE state "no fees" within their transactions. They do state this in the fine print that they have no control of the bank fees at the receiving end.
XE takes 3/4 days. With other institutes, I get guaranteed transfers withi...
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Questions & Answers
I am going to NZ in a few months.
Was just wondering how I transfer my funds for my holiday from my NAB account & set up a new debit account?
Are there any hidden fees & how long does it take?
Well my money never arrived so I would not use this company. There are plenty of others though so I hope you can find a reputable company. TransferGo is poor as well, my money disappeared when i used them - they even sent me a fraudulent receipt claiming the money had arrived so plenty of dodgy companies in the money transfer business
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