XTransfer review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
XTransfer is a business account that keeps the cost side simple: there is no monthly fee, and payouts can arrive as fast as the same day. It suits UK businesses paying overseas suppliers and collecting in several currencies, though 14 currencies is a narrower range than the biggest multi-currency rivals offer.
Key facts
- Best for
- UK businesses paying overseas suppliers with no monthly charge.
- Monthly fee
- $0↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Currencies
- 14↗
- Transfer fee
- From US$2 per transaction to company or third-party business bank accounts in 200+ countries/regions; free to send to another XTransfer account; CNY settlement to Chinese suppliers up to 0.4%↗
- Legal entity
- XTransfer Ltd.↗
- Headquarters
- China↗
- Founded
- 2017↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Audience
- Business
- Pricing model
- No monthly fee
- Official website
- xtransfer.com
Money transfer
Facts checked September 26, 2026, 6 sources
Pros and cons
Pros
- No monthly charge: $0 for the business account.
- Transfers to another XTransfer account are free.
- Payouts reach a bank account or a wallet, and As fast as the same day is the quoted speed.
- Support runs on email, chat and phone.
Cons
- Outgoing payments cost $2 per transaction to a company or third party business bank account.
- Currency cover is 14, while the widest multi-currency accounts run to 350.
- Deposit protection stops at FSCS up to GBP 85,000, lower than the ceiling at PayPal Colombia of FDIC up to USD 250,000.
Who it suits
- Businesses that pay suppliers overseas often and want no monthly charge.
- Firms trading with Chinese suppliers and settling in Chinese yuan.
- Companies that want a same-day payout to a bank account or a wallet.
Who should look elsewhere
- Anyone wanting a bigger deposit protection ceiling than FSCS up to GBP 85,000 should compare PayPal Colombia, where it reads FDIC up to USD 250,000.
- Businesses after a much wider currency range than 14: Skrill and Plazo ES are the accounts to weigh next.
Safety of your money
Eligible deposits held with XTransfer sit under the FSCS, with the stated ceiling at FSCS up to GBP 85,000. The scheme is a UK one, and the UK arm of the business is authorised by the Financial Conduct Authority as a payment institution. Balances above that ceiling fall outside the scheme, so a company running a larger balance needs another home for the excess.
Where it sits among rivals
On monthly fee the account ranks at 1 of 500 brands compared, which tells you a free monthly fee is the norm in this group rather than a differentiator. On currency count it sits at 78 of 379, so the multi-currency side is the weaker part of the offer.
How XTransfer compares
9.0 vs 8.7
9.0 vs 8.6
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9.0 vs 8.7
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9.0 vs 9.0Its monthly fee is €0, so the choice between the two turns on currency range and the type of account you need.
9.0 vs 8.7
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Where XTransfer is available
- Available
- Argentina, Australia, Benin, Brazil, Cameroon, Canada, Chile, China, Colombia, Côte d'Ivoire, Democratic Republic of the Congo, Denmark, Egypt, Ghana, Hong Kong, India, Indonesia, Kenya, Malaysia, Mexico, Netherlands, New Zealand, Peru, Philippines, Rwanda, Singapore, South Africa, South Korea, Sweden, Tanzania, Thailand, Turkey, Uganda, United Arab Emirates, United Kingdom, United States, Vietnam
- Licence in China
- People's Bank of China (PBC), checked September 26, 2026
- Licence in Hong Kong
- Hong Kong Monetary Authority (MSO licence), checked September 26, 2026
- Licence in United Kingdom
- Financial Conduct Authority - Authorised Payment Institution (API), checked September 26, 2026
- Licence in Singapore
- Monetary Authority of Singapore - Major Payment Institution (MPI), checked September 26, 2026
- Licence in Netherlands
- Netherlands - Electronic Money Institution (EMI), checked September 26, 2026
- Licence in United States
- US state regulators - Money Transmitter Licences (MTL) in 33 states, checked September 26, 2026
- Licence in United States
- US - FinCEN Money Services Business (MSB) registration, checked September 26, 2026
- Licence in Canada
- Canada - Money Services Business (MSB) registration, checked September 26, 2026
- Licence in Australia
- Australia - Registered Service Provider (RSP), checked September 26, 2026
- Licence in Malaysia
- Bank Negara Malaysia (in-principle approval for payment licence), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much is the XTransfer monthly fee?+
The account carries a monthly fee of $0, so keeping it open costs nothing each month. Outgoing payments are charged separately at $2 per transaction to company or third party business bank accounts, and a transfer to another XTransfer account is free.
What does it cost to send money to a supplier?+
Transfers to a company or third party business bank account cost $2 per transaction across a wide set of countries and regions. Settlement in Chinese yuan to Chinese suppliers carries a small percentage cost, and payments to another XTransfer account are free.
How quickly do payouts arrive?+
As fast as the same day is the quoted speed for a payout, which suits a business paying a supplier close to a due date. Money can go out to a bank account or to a wallet, and both sit in the payout methods offered.
How many currencies can a business hold?+
The global service covers 14 currencies. That is enough for a company trading with a handful of markets and does not suit a firm holding a long tail of currencies at once, where a wider account would be a better fit.
Is it for individuals or freelancers?+
The account targets business customers, so it is built around paying suppliers and collecting from customers rather than personal everyday banking. Someone after an individual account should weigh a euro account such as Plazo ES or Skrill instead.
How do I reach support?+
Support runs on email, chat and phone, so there is a phone line as well as live chat, email and a self-service help centre. A business chasing a supplier payment can talk to someone rather than only submitting a form.
Sources
- en.wikipedia.org/wiki/XTransfer checked September 26, 2026
Backs: Founded, Legal entity
“Founded May 2017”
- xtransfer.com/about-us/partner checked September 26, 2026
Backs: Deposit protection, Headquarters, Licences
“©XTransfer. All rights reserved. Shanghai ICP Filing No. 17023308-1”
- xtransfer.com/contact-us checked September 26, 2026
Backs: Support channels
“Start an online conversation with our customer service team to get immediate support. Live Chat; General inquiries email; Contact local support team - Call Us”
- xtransfer.com/services/global checked September 26, 2026
Backs: Currencies
“Available Currencies for Global Accounts: AUD, CAD, CHF, CNY, DKK, EUR, GBP, HKD, NOK, NZD, SEK, SGD, JPY, USD”
- xtransfer.com/services/local checked September 26, 2026
Backs: Audience
“Why Traditional Cross-Border Payments Fail SMEs; making SME financial services simple and accessible”
- xtransfer.com/services/payout checked September 26, 2026
Backs: Delivery time
“Funds can arrive as fast as the same day.”
- xtransfer.com/services/pricing checked September 26, 2026
Backs: Pricing model, Monthly fee, Payout methods, Transfer fee, Fee to send 1,000
“Maintaining your XTransfer account Free”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Currency conversion fee.