Send Love, Not Fees: XE Money Transfer Review

Many expats need to transfer money to their hometown or country of residence. If you’re an expat living in the Netherlands, you will need to transfer an amount of your euro savings to your native place. People transfer money to their birth country mainly for family emergencies or to take care of their retired parents back home. Sometimes, they also need money to pay their insurance policies and mortgages or to buy investments in their country.

On the other hand, some expats need to transfer money from their birth country to their country of residence. If you’re looking to buy a property in the Netherlands and your euro income is falling insufficient, you will need to rely on the money saved back in your hometown.

The reasons may vary, but finding a quick and reliable money transfer platform is always a concern among all expats. You often worry about your money not reaching its destination on time or getting lost in the process. While there are plenty of money transfer platforms, only a few help you get your money across in the quickest possible way and with the best conversion rates.

Xe.com is one of the most secure platforms for international transfers. For over thirty years, It has been widely trusted by more than 190 countries and offers the best services to its customers. Whether smaller amounts or high-value international transfers for property purchases, investments, and relocation expenses, Xe.com has you covered.

How Does Xe Money Transfer Work?

With Xe.com, you can easily transfer money to the recipient’s bank account. Xe offers excellent services through its website and app, with a smooth, user-friendly interface. It offers the best exchange rate and charges no hidden fees.

All you need to do is follow these basic steps on their app:

• Install the Xe.com app and create an account with your email address. You will need to verify your details initially.
• Select the “Send money” option.
• Select the receiver’s country, enter the amount to send, and select the currency.
• Choose your preferred payment method – debit card, credit card, or bank transfer. The time taken for the transfer varies depending on the mode of payment.
• Choose the delivery option – cash pickup, bank transfer, or mobile wallet.
• Enter the recipient’s account details, including the bank name and branch code. Then, select the reason for the transfer.
• For the first transfer, Xe.com may ask to verify your documents. Follow the steps for verification.
• Confirm your options and proceed.

The XE App Review

Although many money transfer platforms offer great services, Xe.com is the most preferred and trusted among individuals, businesses, and investors for many reasons. They are the third-largest money transfer business in the world, providing exceptional service in over 190 countries.

Here are the various pros and cons of the Xe Money Transfer app and its features.

Costs

Xe offers one of the best and superior exchange rates with no hidden fees. However, it is still not the lowest. Some modes of payment charge a higher rate than other third-party platforms. For some currencies, Xe does not charge transfer fees for bank-to-bank transfers.

Speed of Transfer

With Xe, your money typically reaches its destination within minutes. However, depending on the mode of transfer and the currencies involved, it can often take one to five days. If you’re looking to transfer funds on an emergency basis, Xe may not be your best option, as other platforms provide faster service. However, Xe gives you regular updates about the status of your transfer.

Currencies

Operating for over 30 years, Xe.com supports 100+ currencies, making it one of the most widely used applications for money transfer. However, for some currencies, there are limited modes of payment available. For example, you can transfer money from your American account (USD) using only the bank transfer option. It also does not support transferring money from some major currencies, such as the Chinese Yuan and the Indian Rupee, although it does accept these currencies as recipients.

Ease of Use

The application’s interface is pretty straightforward to use. The money transfer process can be completed in a few seconds using easy and convenient steps. However, sometimes, the app does not reflect an initiated transfer, and you have to log in again to view the status. The interface also does not support the iDeal option, which is one of the most preferred means of payment.

Safety

Xe guarantees the safety of your personal information. The identification documents you submit on the app are encrypted. Plus, before logging into your account, the app always asks for a one-time passcode sent to your registered mobile number, ensuring no one else has access to your account.

Customer Service

With over 47,000 5-star ratings on Trustpilot, Xe.com has a global customer support team of currency experts and promises a comfortable experience to all its customers. They offer support through live chat, email, and phone in over 100 languages.

Read Also: Best Way to Transfer Money to a Dutch Bank Account?

Additional Features

Xe offers a lot of additional features worth checking out. Some of their interesting features are:

• Rate Alerts: You can choose your desired rate and set rate alerts for your preferred currencies. You will be notified when your selected rate is triggered.
• Scheduling Mass Payments: This option allows you to schedule multiple payments at once for a later date. You don’t have to worry about processing each transaction individually. This tool is available only for business accounts.
• IBAN Calculator: You can use this tool to validate your IBAN (International Bank Account Number). You can also search for the format of your IBAN from the list of countries supported by this tool.
• Forward Contracts:z Supported only for business accounts, this tool allows you to set the current exchange rate and schedule your transfer for a future date. This way, you can secure the best transfer rate even if the market collapses.

We hope we have answered all your questions about transferring money in the best and safest way possible. The next time you need to transfer money to or from your home country, head on to Xe.com for the most trouble-free experience.