![]() It’s worth noting that XE prefers your first transfer to be made through a bank, rather than a card payment, to satisfy its internal compliance checks. There may also be extra processing fees for debit card payments. Paying by debit card is one of the quickest options when sending money with XE - but it means you’ll only be able to send US dollars from the US, no other currencies. Although XE doesn't charge their own fee for wire transfers, the actual banks involved in these transfers often do - and in the US this can mean paying anywhere from $15 to $30 in intermediary fees. Wire transfers do use the SWIFT system, and while XE offers these too, they aren’t always recommended. However, according to XE it’s unlikely to be the fastest - in fact, it can take up to four business days for an ACH payment to be processed. As a result, they can avoid using the SWIFT banking system and the associated high fees - so making an ACH transfer directly to XE is often the cheapest method. Money transfer providers like XE often have a network of bank accounts across the globe, which means they can move money around without it ever crossing international borders. When you send money with XE, you’ll be able to pay for your transfer via the following methods: What kind of transfers can I make with XE? We’d recommend looking elsewhere if you need to transfer amounts over $100,000. These aren’t spectacularly high transfer limits compared to other providers, like Wise and TorFX. If you’re paying by credit or debit card from the US, you’ll be limited to $3,000 a day maximum, and no more than five transfers a day. People in these states can only send a maximum of $999.99 per day for cash pickup - for higher amounts you’ll need to show additional documentation.Ĭash pickups from anywhere in the US to Nigeria have a maximum limit of $500. So from the USA, this would be $3,000 per transfer, five times a day - unless you’re in Oklahoma, Arizona or New Mexico. If you’re sending by cash pickup, you’ll be able to send 3,000 of your local currency per transfer, and you’ll be allowed to make five transfers a day. Depending on the currencies and countries involved, you’ll be able to send a maximum of around $50,000 - $60,000 according to their customer service team.Īdditionally, if you’re in the US or Canada and paying by a SWIFT wire transfer, rather than ACH, credit card or debit card, you’ll have to pay at least $3,000. The limits are different if you’re using the app. However we noticed that XE’s exchange rates tend to be much higher for smaller transfers, and generally speaking are on the high end compared to other providers. However, it’s higher than providers like Wise, who charge the exact mid-market exchange rate with no markup at all. It’s also much lower than banks, which routinely offer markups of around 3-7%, and PayPal, which charges 6-8%. Our data shows their average markup on the exchange rate is usually between 1% and 1.2% - which is quite competitive compared to other providers on our list. The exchange rate you’ll get with XE varies depending on the country and currency you’ve chosen. What exchange rate does XE charge for international transfers? Overall our team thinks these rates aren’t bad if you’re more likely to make bigger transfers, but if you’re regularly sending small amounts then the fees can add up quickly. You can also pay by credit card or debit card, which are usually faster options than bank transfers, but this comes with an extra percentage fee in some countries. Now, transfers below $500 from any of these countries will incur a fee of $3 in the US and Canada, and $4 in Australia and New Zealand. Previously, XE only charged a fee of £2 or €2 for transfers over £250 or €250 from the UK or the EU - while all transfers from the US, Canada, Australia and New Zealand were free. Send fee (if less than qualifying amount) Minimum transfer amount to qualify for no send fee
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