HiFX Review

In January 2019, HiFX joined forces with XE to provide international money transfers under the name XE. As HiFX puts it, “By bringing our two companies together, we are combining XE’s 25 years of authority in currency exchange and HiFX’s comprehensive range of money transfer services.”

Founded as Halewood International Foreign Exchange Limited, HiFX has been in the money transfers business since 1998. The U.K.-based company was started by Shaun Taylor, Laurence Butcher, and Matthew Knowles out of frustration with hidden fees that some banks charge for foreign exchange. They set out to create a better experience — one that involved fewer overhead costs and greater investment in technology that would allow them to provide money transfers with no hidden fees.

Since HiFX is now XE, as its homepage clearly states, we also need to take a look at XE. The Canadian-based company has established itself as a trusted authority in international money transfers. Together, XE and HiFX complete international money transfers to 220 countries and territories. In addition to money transfer services, XE is also known for its popular currency conversion tool and widely used foreign exchange information website.

Let’s take a closer look at HiFX/XE and the pros and cons of using the money transfer service.

Pros and Cons of HiFX/XE



What Does HiFX/XE Offer?

It costs nothing to open and maintain an account with HiFX/XE, and you can use HiFX/XE to send money between almost any two countries in the world. The company does not apply transfer fees to most of its exchange-based transactions.

As of January 2021, HiFX/XE’s money transfer service supports 139 currencies, and customers can send money to recipients in more than 220 countries, territories, and jurisdictions. However, you only have the option of paying for your transfer via online banking, and recipients can only have incoming funds deposited into their bank accounts. These approaches optimize speed and security but somewhat limit convenience as certain competitors support more payment and pickup options.

Customers can transfer unlimited amounts of money, but transactions with a value equal to or greater than the equivalent of $500,000 must be initiated by telephone. HiFX/XE’s online system can handle all other transfer requests.

HiFX/XE states that the majority of its transfers are completed on the same business day. The service also allows customers to cancel transactions and change recipient details. These functions are time-sensitive and not guaranteed, though.

What To Expect on the Site

Both personal and business customers can use HiFX/XE to send and receive money across borders. Conducting a person-to-person transfer is fast and easy:

  1. Sign up to create an account online.
  2. Get an instant, competitive quote for your transfer by specifying the original currency, the conversion currency, and the amount you wish to convert.
  3. Confirm your transaction to lock in your rate, enter the recipient’s details, and track your transfer online or with the mobile app.

Business transactions are also easy to set up but require a few extra steps. This is because enterprise customers have an expanded range of options, including the ability to set up recurring payments using HiFX/XE’s Mass Payment feature. HiFX/XE also offers appealing incentives to businesses that participate in its referral partner program, creating added value on the enterprise level.


HiFX/XE does not apply transaction fees to money transfers involving currency exchanges. Instead, the company earns its revenues from the foreign exchange margins it receives when changing money on the international markets. These margins fluctuate as exchange rates rise and fall when currency trading markets are open.

Because of this pricing model, HiFX/XE can’t guarantee your rate until you formally confirm your transaction. This fixes your rate based on the market price that was valid at the moment of your confirmation.

What People Are Saying About HiFX/XE

As of June 2021, XE enjoys a strong Trustpilot score. Based on more than 45,000 customer reviews, it has 4.5 out of 5 stars:

The Bottom Line

HiFX/XE is a fast, legitimate, and safe international money transfer service with outstanding customer satisfaction rates. While its lack of support for alternative payment methods is somewhat limiting, its foreign exchange rates are solid, and the company provides speedy transfers.

For these reasons, we think HiFX/XE is worth considering as you look into the best money transfer companies.