Xe review

The send money account carries a monthly fee of $0, and transfer fees run from $0. Xe's own pricing is low to no fees, with larger transfers often free and smaller ones carrying a fixed fee. The model is described as no monthly fee and low foreign exchange cost.

Xe is regulated in the US by the Massachusetts Division of Banks, with licence id 920968, and also appears before the New York State Department of Financial Services and FinCEN. Outside the US it appears before the FCA in the United Kingdom, FINTRAC in Canada and ASIC in Australia.

Deposit protection in the US is stated as FDIC up to USD 250,000. Protection scope depends on the scheme and jurisdiction, so check the scheme that applies in your country rather than assuming the US limit carries over.

Most transfers land within a few business days, and a large share arrive in minutes. Payout runs to bank, cash pickup and wallet, so the speed depends on the method chosen and the destination bank.

Xe covers 130 currencies, well above the money transfer median of 5. For business and multi-currency use it also provides local account details, including IBAN details in most cases on the site at 73.8%.

Xe is aimed at businesses and travelers, and business is also the most common audience in this group at 56.5%. It suits paying suppliers or staff abroad and sending money home where the recipient wants cash pickup or a wallet payout.

Xe offers phone, chat, email and a help centre through email, chat and phone, which is a broad spread for a money transfer service. Phone support in particular is common in this group, appearing on 79.5% of comparable listings.

Xe charges $0 in monthly fees, matching the money transfer median of €0. The upper end of the group reaches €348.65, so Xe's no monthly fee model sits at the low end of the range.