Question for xe.com users

[Cécy 44]

After debating a lot I listened to other expat's advices and decided to create an xe.com account.

I have 3500 Euro to transfer to the US.

When I use my regular bank and take out the money here in the US at an ATM, by bank in France takes something like 2.5 Euro everytime plus a % of the amount.

My bank says that internet wire transfer had no extra fee.

So I wanted to ask those who used xe.com. When you transfered money by selling your home country's curency and buying dollar using xe.com: did the bank in your country charge you anything? A trading fee? A currency exchange fee or anything of the sort? Or did they simply remove the amount you just sold and that was it?

I just want to make sure that it's more interesting for me to use xe.com than just the ATM. I can only remove 800$ at a time at the ATM every week and that's a bit of a pain given that I'm charged a fixed amount every time.

If you could share your experience it would be most helpful. Let me know if you don't understand what I'm talking about.

Edited October 3, 2008 by Cécy

[minnietheminx 0]

Hi there.

Ive just successfully transfered some money using XE.

Some where on the site it tells you how much the wire fee is depending on what country the money is coming from. From the UK the wire fee was something like £12. So for example, if I made a trade where I bought £1000 worth of dollars, I would go through the purchase process on XE. When that is complete, XE will email you the total amount they want you to send them as this is when they incorporate the wire fee.....so I got an email saying the amount they needed from me was £1012....they then gave me the address of their bank in the UK and the details needed to wire it there. I got in touch with my bank and ordered the wire......my bank just took the £1012 from my account, nothing more. Xe then keeps you up to date with where they are in the process such as.......recieved at UK XE bank.....sent to the US......now sent to your bank (from this point, how quickly you get the money depends on how quickly your bank processes the wire). All in all it took 3 business days for me to get the money. I was surprised at how easy the whole process was....the biggest problem I had was trying to explain to my UK bank that my money would end up in the US but I was wiring to the Bank of America in London....they just didnt get it

[Gumbolette 58]

I would suggest that everytime you will be sending money anywhere in the world you can use XOOM. www.xoom.com This is the quickest way to send money around the world. Without any interest,. They just you charge you a certain percentage from the amount you will be sending.

My husband and I have been using XOOM for over a year already, and I only encounter1 problem, that is when my husband sent the money his bank was on clearing. It took me 2 days before I got the money.

[Slightly Bonkers 0]

OP: I use wire transfer to XE.com, my irish bank charges me 50cent for that. Then I have XE send me a Draft which is free. It takes about 1 week for the draft to arrive here in the US

First time I did wire transfer to XE.com and wire transfer to my US bank and I think it cost me 16euro. But it still took about 4 days, so I use the free draft now.

My Panacea = Greg: XE.com is totally free, no percentage is taken out.

Edited October 4, 2008 by Slightly Bonkers

[Gumbolette 58]

I see... Thanks for enlightening me.

Edited October 4, 2008 by my_panacea = Greg

[sassasdave 0]

Is it free with a sub-standard exchange rate though?

Edited October 6, 2008 by sassasdave

[Slightly Bonkers 0]

I haven't been able to better their exchange rate.

Would love to know if you can point me elsewhere as I still have some money to bring over.

[Cécy 44]

OP: I use wire transfer to XE.com, my irish bank charges me 50cent for that. Then I have XE send me a Draft which is free. It takes about 1 week for the draft to arrive here in the US

First time I did wire transfer to XE.com and wire transfer to my US bank and I think it cost me 16euro. But it still took about 4 days, so I use the free draft now.

My Panacea = Greg: XE.com is totally free, no percentage is taken out.

Thank you that's what I needed to hear. I was confused about the wire fee. So if I understand correctly there is only a wire fee from XE.com to the beneficiary (buying). And not from you to XE.com (selling), correct?

I'll definitely work it out that way... well as soon as the Euro goes back up... hopefully.

Thanks for the input from everyone.

[GiGii 4]

I'll definitely work it out that way... well as soon as the Euro goes back up... hopefully.

Euro will be taking a beating all week long... I'd hold off for 1-2 weeks to let it restore a little.

[Cécy 44]

I'll definitely work it out that way... well as soon as the Euro goes back up... hopefully.

Euro will be taking a beating all week long... I'd hold off for 1-2 weeks to let it restore a little.

That's my plan. It started going back up a bit already.