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.
In this video we're going to show you how to use them.
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. If you can stick around for the whole video, at the end
we'll share our number one tip for making sure you get the best rate
possible from XE.
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.
When it comes to ID, XE generally only need your driver's license but to be
safe have a couple of forms of ID with you. For payment, XE accept BPay or
bank transfer. So make sure you've got those details with you as well. It's
important that you have the funds in your account. 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. To begin click "get started" the
first step will be to inform XE of your country of residence and your email
address. 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. Next step is to create your password and
memorable question. Make this password unique to any other passwords that you
use. Now you'll fill in the nitty-gritty details. Provide your address as it
appears on your driver's license, provide your main contact number, date of birth
and nationality. 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. The last
question is how you heard about XE. Select the most relevant to answer. Then
you'll need to agree to their terms and conditions you can find a link to these
in the video's description. Then open your account! This is what your account
looks like. 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. So what's our tip for making sure you get the best
exchange rate with XE? Well, while they don't charge an international transfer
fee, they do put a margin on the exchange rate. This means that the rate you see on
their home page isn't actually the rate they give you for a transfer. Our tip is
to use the link in the description below. This takes you to the XE website but with
this link, you'll have a slightly better exchange rate. Full disclosure; this link
will give us a referral fee from XE but it means that you
get a better rate, which means that your money goes further when you make an
international transfer. If this video was helpful please like it, it would really
help us out. And if you have any more questions just leave them in the
comments below. For more information about exchange rates, currency,
international transfers, subscribe to our channel. If you have notifications turned
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