XE is one of the most well known brands in currency exchange. They are often the go-to website if you need to find the exchange rate between one currency and another. But they also offer international money transfer services.
We’ll look at what you need to know about XE, what you need to make a transfer with them and the steps involved in setting up an account and making that transfer.
XE was founded in Canada in 1993 but began as just a currency converter. It has since grown
globally and now helps more than 33,000 people make transfers internationally every year. They’re also a really secure option. They’re licensed with an Australian Financial Services license
and they’re regulated by the Australian Securities and Investment Commission.
Okay, let’s have a look at XE in a little bit more detail. The rate they will give you is generally better than what you would find from a bank. And they don’t charge a fee for making an international money transfer. Their website can seem confusing when you first look at it. But the process for setting up an account and making a transfer is pretty simple.
They have toll-free numbers throughout different countries that you can call and they’re available for general advice within business hours. Keep a little bit of time up your sleeve because the transfer with XE could take a little bit longer than your bank. Now that we know more about XE let’s have a look at exactly what you need to make an international money transfer with them.
XE can’t make the transfer until you’ve paid them and the funds have been cleared. Finally make sure you do have time up your sleeve, it can take a few days for XE to complete the transfer so it’s important that you allow for this.
Okay, that’s everything you need to know, let’s jump straight into setting up an account with XE. To start head straight to their website. You might recognize their homepage if you’ve ever looked up exchange rates for a currency. You can use their currency converter and choose the currency pair you need. This will show you the exchange rate between the currencies you selected. When you’re ready to start setting up your account head to the right hand side
and select “send money now”. The next page has information about their personal and
business accounts as well as the currencies they offer and their rates and fees. Fill these details in and press continue. Next up is your personal details. Make sure you fill in these details accurately for security and identification reasons.The last part in this step is to accurately input your
driver’s license details. It’s important that this is done correctly. You can then click “next”. The final step in the application process is to provide information about the types of transfers
you’ll be making. You’ll estimate the amount of currency you’ll transfer in the next 12 months as well as the number of transfers and the country you’ll be making the transfers from. You can set up recipients, orders and rate alerts. To start a transfer select the currencies that you need, the amount and click new transfer. Now you’ll fill in the recipient details including their name, country, address and banking details. Click “continue” once you’ve filled in all of these details
correctly, you’ll then need to inform XE of your payment details. XE accept bank transfers and BPay as payment. Once this is done you’ll confirm the rate and order. Once you have confirmed the transfer you will be obligated to make payment to XE. And that’s how you make an international money transfer with XE.
If you have any more questions about the process or if something wasn’t clear,
just leave a comment below.
