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?
- Can we refund or cancel trades made using this payment 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?
- Set up your transfer online - we recommend using the Xe app.
- Select bank transfer/wire transfer as your payment method.
- 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.
Pay the correct amount. Paying more or less will delay your transfer.
What are the limits for bank transfers?
There are no limits with Xe when booking a transfer. However, your bank may have limits on how much you can send per day, week or month.
If your daily limit means you can't send us the full amount of your transfer in one payment, that's okay.
We will wait until all your funds have been received before we send your transfer on. If this is likely to take more than 24 hours (more than 2 single payments) please contact us.
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.
The time it takes for funds to arrive with us may also vary depending on the currency being sent to us.
Are there any charges for using this method?
Xe will not charge to receive funds via bank 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.
Can we refund or cancel trades made using this payment method?
Yes, it will be the standard cancellation process.
How can I add this payment method to my Xe account?
You’ll be presented with the option to pay us via bank transfer during the process of setting up your transfer. 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 through the Track Transfer feature on 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 you’ve confirmed your transfer, it is unlikely we will be able to cancel your transaction.
We purchase your funds at the time of confirmation and once your debit request has been submitted, it cannot be reversed.
|Please note: Although we’ll try our best to help you avoid any charges, you may be liable for costs incurred if you fail to settle.|