Read our guide on paying for your transfer by bank or wire transfer.

In this article, we’ll cover:

• What are bank transfers? 
• Who can use this payment method? 
• Where/who can I send money to using this payment method? 
• How do I pay by bank transfer? 
• What are the limits for bank transfers? 
• How long does it take to send money using this method? 
• Are there any charges for using this method? 
• How can I add this payment method to my Xe account? 
• Can I cancel my bank transfer transaction? 

What are bank transfers? 

A bank transfer or wire transfer is an electronic payment which sends money directly from one bank account to another. In the US and Canada it is commonly referred to as wire transfer.

Who can use this payment method? 

All Xe customers can pay us via bank transfer.

For a full list of payment methods available for your region, please click here. 

Where/who can I send money to using this payment method? 

All available currencies. 

How do I pay by bank transfer?

1. Set up your transfer online - we recommend using the Xe app.
2. Select bank transfer/wire transfer as your payment method.
3. Leave your Xe account, and pay by bank transfer/wire transfer directly through your bank.

To make sure that your transfer isn’t delayed, please double check that: 

• The name on your bank account matches the name on your Xe account. If the name doesn't match, we won't be able to process your transfer. If you have a joint bank account, please read these helpful instructions.
• You’ve included the reference correctly. This helps us match your payment to your transfer. Your reference always begins with a ‘C’ and is typically 8 or 9 characters long. For example: C12345678.
• Pay the correct amount. Paying more or less will delay your transfer.

What are the limits for bank transfers? 

• Customers in the USA can pay by bank or wire transfer for amounts of $3,000 USD or more.
• Customers in the UK and Europe can pay by bank transfer for amounts of £1,000 GBP or €1,000 EUR or more.

There are no other limits with Xe when you pay by bank or wire transfer. However, your bank may have limits on how much you can send per day, week or month.

If the your daily limit means that you can't pay the full transfer amount in one payment, you can pay in instalments instead.

How long does it take to send money using this method? 

When choosing this method, the payment date will typically be same day or next day, but this does vary depending on the currency being sent. It can take up to 3 working days for the money to reach us.

Are there any charges for using this method? 

While there is no payment method fee for these transfers, they may still be subject to a send fee. You’ll see the exact fee before you confirm your money transfer.

Some banks may impose charges on these transfers. Typically, banks in the US and Canada charge between $15 and $30 to make a wire transfer.

How can I add this payment method to my Xe account? 

You can add this payment method by choose this payment option when you send money. You’ll need to manually set up the transfer using your online banking system.

Our bank deposit instructions will be provided in your contract note, once you've confirmed a new transfer. You can access these instructions by tracking your transfer in the Xe app. 

Can I cancel my bank transfer transaction? 

Depending on the stage that your initial transaction is at, it may or may not be possible for you to cancel this transfer and request a refund.  

If you’ve not yet confirmed the transaction, you can simply cancel the process yourself by doing the following: 

• In the app: Simply click the cross icon in the top left-hand corner to stop the transfer 
• On the website: Click Go back to return to a previous step and edit details, or close the browser window to cancel the transaction entirely 

If we've sent out your payment, we won't be able to cancel your money transfer. The sooner you contact us prior to us sending your payment, the more likely it is that we'll be able to assist you.