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Took too long unnecessary delay
Don’t use this outfit, there are plenty of other money transfer companies. It should have been a simple transaction from one western country to another of a very small amount for a gift. After several phone calls on hold to find out why it was taking so long they told me I needed to answer more questions. What could they possible want to know. They had all the details required. But they asked what my profession was. If theyd looked at my birthdate it was obvious I was retired. Then I was asked if I’d ever been overseas! This had me apoplectic. ...I’ve been travelling the world for more than fifty years. Did they want a complete list of countries and dates? Yes I’ve been overseas. Is this relevant? Eventually after a nearly a week the recipient received her small cash gift. While everyone who took my calls in different parts of the world were polite and as helpful as they could be, their system is obviously inept and incompetent. I would never go through this again.
Sending money to Mozambique takes for ever
I live in Australia and want to send money for a computer to my friend in Mozambique.
This process is supposed to take 1 to 4 day max...but 7 working days later, still no money for the poor little fellow. He needs money for food and to pay bills. Why the delay?
Suprised how quick it was
I set up my account on Saturday and arranged a transfer. I received an email to advise it will be actioned on Monday. 8am Monday I recieved an email to say Xe have recieved the funds. An hour later I received an email to say the funds have cleared and it's been deposited into my AU account. By lunchtime the funds had cleared into my Australian bank account. It was so easy.
Unstable website and app - nearly impossible to make a transfer
These people are just hopeless. Their website and app are unstable, meaning that it's almost impossible to complete a transaction. You end up on the phone for hours. Their compliance team also takes an imperious view and clearly lacks any kind of commercial or life experience.
Go anywhere but to XE!
Sent AUD to exchange into USD and further be sent to an USA brokerage. More than 10 days, nothing happened, nobody knows where the money is. Customer Service useless, non-existing.
Because didn't know where the money is, I did cancel a further EUR to USD. even though they acknowledge cancelation, still sending me reminders take a look at their statement. Crazy, they don't have a clue od what they doing. NEVER AGAIN
Scam. Money is reduced significantly at the other end.
Sent money in Euros to a bank in France.
Amount shown on my transfer this end was reduced by 20 euros when it arrived.
When I use OFX the amount I send and what arrives is always the same.
I think they are falsely advertising an exchange rate and not disclosing what they are skimming off.
Find another company that is honest.
Poor customer service too!
Recipient was charged for receiving money and not stated upfront
As per title, this cost was not made transparent. I transferred a sum from AUD to EUR and the bank charged the recipient not to my knowledge until the recipient told me. I thought that they would have a domestic EUR account to make the transfer but no, they use SWIFT. To avoid beneficiary bank processing fees SWIFT payments should be avoided.
Warning against going with XE
I wrote a positive review for XE a month ago that their service is fast and takes effect if funds are deposited to them before lunch time. Well since, then it has been the opposite. If they receive over $1000 they seem to keep it for a while and do not send for at least 2 days. Example, they received money from my bank at 11.18am. The bank transferred an investigation to finances who were able to confirm the exact time that it left. Almost 8 hours later at 7pm XE said funds had still not left its payment team. Huge complaint l...ead to their enquiry with the payment team and an email came through at 7.12pm saying the funds were in my XE account. 12 hours later, (the next day). another email received that they have another amount in my XE account and the converted currency is waiting to be released later on today. Waiting for what I ask. They are the ones who set the rate and we pay for that rate. This is happening too often for me to be comfortable with XE and I will be closing my account with them. I would prefer to pay a fee for a fast or at least timely transfer then to pay NO fee and it arrive by electronic transfer slower then a plane trip. 1/10 for these people. I am over it.
It is very clear in what you get on the other end
I have been using for 11 years no regret at all. Money went on time and also got the best rate available at the time of transfer.
Can they give better rates definetly there is room for improvement.
Clunky but better than banks.
Possibly the pay into their account then they pay the recipients account is a way around charges I dont know. Although clunky you do save a substabcial amount compared to the gouging you get from banks.
Don't use this crap
Crap of service , don't use this crap, waste time and useless. It made fail and I can't send money to my aunty in U.S to buy a house on time.
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.
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.
Questions & Answers
I would be glad to know if money transfer service are available at Thailand to transfer money from Thailand to India
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.
Thank Terry, sounds like hit and miss, the only way to verify prior is to actual do the transfer and then you know... the full cost. lol
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.
You might be right, if they are forced to give you a good rate then the alter the intermediate fee
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