XE vs CurrencyTransfer: Fees & Reviews Compared

Both XE and CurrencyTransfer are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	XE	CurrencyTransfer
Homepage
Transfer Fee	£2.00 under £250 (UK) €2.00 under €250 (EU) No fee for other sums	No fee
Average Exchange Rate Markup	0.2% to 1.4%	0.007
Minimum Transfer Amount	$1	£5,000 (or currency equivalent)
Maximum Transfer Amount	£350,000 (UK and EU) $535,000 (US) CAD $535,000 (Canada) NZD $750,000 (New Zealand)	No limit

Reviews

	XE	CurrencyTransfer
Trustpilot Rating	4.3	4.8
Number of Trustpilot Reviews	61,500	900
iOS App Rating	4.3	N/A
Number of iOS App Reviews	5,300	N/A
Android App Rating	3.5	N/A
Number of Android App Reviews	113,000	N/A

Features

	XE	CurrencyTransfer
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	Yes	No
Available Countries	170	170
Number of Currencies	50	28
Payment Methods	Bank account Debit card Credit card Check Direct debit BillPay BPAY PayID Interac	Bank account
Receiving Methods	Online wallet Bank account Cash pickup	Bank account
Cash Pickup Option	Yes	No
Payments Flexibility	Web platform Mobile app	Web platform
Supported Languages	English, German, Spanish, French, Portuguese, Italian, Swedish, Arabic, Japanese, and Chinese	English
Transfer Speed	1-4 days	1-4 days
Dedicated Dealer	Only for customers transferring above $70,000	Yes
Instant Custom Quote	Yes	Yes
Business Features	Spot contracts Forwards contracts Market orders Digital multi-currency wallet Rate alerts API portal	Spot contracts Forwards contracts Market orders Batch payments FX derivatives Rate alerts API integration
Debit Card	None	None
Cancellation Policy	Only for cash pick-up transfers when the cash hasn’t been collected by the recipient	Booked currencies can be bought back from the selling provider with the costs falling on the customer
Suitability	Small and large money transfers	Large money transfers

Company Comparison

	XE	CurrencyTransfer
Year Founded	1993	2015
Headquarters	Newmarket, ‎Ontario‎, ‎Canada	London, UK
Other Office Locations	Canada, Australia, the US, the UK, and New Zealand	Tel Aviv (Israel)
Annual Trading Volume	£15 billion	$500 million
Number of Employees	350	23
Number of Clients	150000	20000
Regulatory Institutions	FinCEN in the USA FINTRAC and OSFI in Canada FCA in the UK ASIC in Australia	FCA and HRMC in the UK
Awards	International Money Transfers Outstanding Value Award (Canstar, 2021)	Top 9 Startups (Swift Innotribe Startup Challenge, 2014) Presented at FinovateEurope – a FinTech-based conference (2014)

XE Pros & Cons

XE Pros

• Attractive exchange rates
• Broad currency selection
• Local presence in many locations worldwide
• A variety of payment methods
• Stellar customer service
• Extensive global reach
• Loads of experience under their belt
• Top-notch website and mobile app
• Offers instant custom quotes
• Fast money transfers with 50% transfers processed within minutes
• Cash pickup service
• Handy exchange rate alerts feature

XE Cons

• No dedicated account managers for all users
• Small transfer fees are imposed on certain small money transfers
• Sparse coverage of less-common currencies
• No solid cancellation policy in place
• Average Trustpilot rating

CurrencyTransfer Pros & Cons

CurrencyTransfer Pros

• Real-time personalized quotations
• Excellent client support
• Strong rating on Trustpilot
• Zero fees on transfers
• Attractive foreign exchange rates
• Worldwide service availability
• Wide range of options for businesses
• Speedy transfer of funds
• Notifications for exchange rate fluctuations

CurrencyTransfer Cons

• Not suitable for small money transfers
• High minimum transfer limit
• No multi-language support
• Limited payment options
• No mobile app
• Limited currency coverage
• No local coverage

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