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There are many alternatives to using XE money transfers


Transferwise uses the mid-market exchange rate to calculate the currency conversion compared with XE that add a margin to the exchange rate. Transferwise does however charge a low fee for currency transfers but generally Transferwise money transfers are better value for small money transfers. For large money transfers XE is a good choice but other companies like moneycorp and OFX may provide better exchange rates as we explain below.

Is moneycorp better than XE?

moneycorp has bank status which XE does not and when dealing in large sums of money moneycorp will likely be able to be more competitive with your exchange rate quote.

Currencies Direct in Spain

Currencies Direct has 16 retail outlets in Spain that you can visit to discuss your currency needs and make International Money Transfers. This local knowledge and local approach to offering money transfers is something that XE does not offer. In fact Currencies Direct has offices in other world countries too. XE only has offices in the UK and Canada.

OFX in Asia

OFX is listed on the Australian Stock Exchange and has a big office prescence in Australia and Asia. If you are transferring to or from Asia you will probably want to get a quote from OFX. XE only has offices in the UK and Canada.


CurrencyFair matches buyer with sellers of currencies and the CurrencyFair Marketplace offers very competitive rates. If there is no matching of currencies CurrencyFair helps you to complete the money transfer. CurrencyFair fees are explain here.

Open an International Bank Account

Opening an international bank account is another option but the exchange rate will not be as competitive as XE. The benefit of this is you will be able to use a debit and/or credit card too. Some money transfer companies offer this service too but not all. Furthermore banks often do not charge for using international bank account debit cards in ATMs. Read more about international bank accounts.