How to Receive Money from Overseas Using XE Money Transfers

This article should give you a good idea of how to receive an international money transfer with XE Money Transfers.

If you need to receive a payment from overseas, there is a lot you need to consider. Using a dedicated money transfer provider like XE Money Transfers is an excellent option for both sending money overseas and receiving it. In this article we discuss how to receive money from overseas with XE Money Transfers.

Using a provider like XE can be the best way to ensure that the money being sent to you is safe, and that you receive the payment as quickly as possible. They can also be a much more affordable option than using traditional banks or PayPal.

How to receive money from overseas with XE Money Transfers

How to receive money from overseas with XE Money Transfers

There are a few steps involved in receiving money from overseas using XE. Before you can make a transfer though, you will need to set up an account. This process is outlined below.

Setting up an XE account

Either you or the sender needs to be a customer of XE in order to use their service. You can call XE to create an account, or if you're comfortable you can do it all online.

  1. The person who registers an account will need to provide their name, address, contact details and email.
  2. The person will may need to verify their identity after the XE account is created. This means providing proof of ID and proof of address. Because of this, it is important that all the details you provide in the set up process are correct.
  3. Proof of ID is provided by a recognised photo ID like a driver’s license, national ID card or passport.
  4. Proof of address is provided by official correspondence from a reputable organisation and generally cannot be more than 3 months old.

Steps to receiving money with XE Money Transfers

Once you have your account set up with XE, you will need to follow these steps in order to receive money from overseas with them:

Step 1: Receiving bank details

You will need to get XE's relevant bank details for the currency you are receiving. You may need to contact XE once your account is set up to do this. Generally, this information is not available directly through their website.

Step 2: Transfer the currency

Once you have these details, you will be able to provide them to the person who is making the payment to you. They can then use the details to transfer the money from their bank account, to XE's relevant account.

Step 3: Receive the payment

Once the funds have been successfully received by XE, you can organise with them to have the funds converted and transferred to your personal bank account.

Is XE Money Transfers right for you?

Supported currencies with XE Money Transfers

XE’s available currencies can be found on their website but are also listed below.

  • Australian dollar (AUD)
  • Bahraini dinar (BHD)
  • Basotho loti (LSL)
  • Brazilian real (BRL)
  • Botswana pula (BWP)
  • Canadian dollars (CND)
  • Chilean peso (CLP)
  • Colombian peso (COP)
  • Emirati dirham (AED)
  • Euro (EUR)
  • Fijian dollar (FJD)
  • Great British pound (GBP)
  • Hong Kong dollar (HKD)
  • Jordanian dinar (JOD)
  • Kenyan shilling (KES)
  • Kuwaiti dinar (KWD)
  • Mauritian rupee (MUR)
  • Mexican peso (MXN)
  • New Zealand dollar (NZD)
  • Omani Rial (OMR)
  • Philippine Peso (PHP)
  • Qatari Riyal (QAR)
  • Saudi Arabian riyal (SAR)
  • South African rand (ZAR)
  • Swazi lilangeni (SZL)
  • Thai baht (THB)
  • Tunisian dinar (TND)
  • US dollars (USD)

How much it costs

This is one of the important factors you need to take into account when receiving money from overseas; how much the process will cost. You also need to take into account who will cover those costs, you or the person paying you.

It doesn't cost anything to open or maintain an account with XE and they do not charge any transfer fees. Which means they do not add an additional fee to the exchange rate they offer you, or the person making the transfer to you. It's important to note though, that while XE show you the interbank rate on their home page, they do add a margin to the exchange rate when they offer it to you for a transfer. This means, there is a difference between the rate that the two currencies are actually trading at and what you will get for your transfer. You can read about the difference between the interbank, or actual exchange rate, and the rate you receive here.

Will you have to pay any fees as the receiver?
As the receiver, you may pay receiving bank fees. International money transfers sent to or from an overseas bank may be subject to commissions, fees and other charges applied by your bank. These are typically deducted by the overseas bank from the funds paid to you.

*All details shown above are correct as of August 2020.

How long it takes

The time it will take to receive the money, depends on where it is coming from, and how the transfer is being funded. All of these factors should be taken into consideration. Especially if you have given them a deadline for the payment. It is good to know though, that you can access your account and monitor your transfer 24/7. Additionally, XE will send you notifications via SMS to let you know how it is tracking.

Advantages to making international money transfers with XE

  1. XE is a very well known and trusted brand when it comes to currency exchange. It is often the 'go to' resource for exchange rates.
  2. As we discussed previously, there are no additional money transfer fees when using XE.
  3. They have accessible customer service that is available throughout weekday business hours.
  4. The website itself is a great tool to keep track of international currency exchange rates, for multiple currencies.

Disadvantages to making international money transfers with XE

  1. While XE compare exchange rates for hundreds of currencies, they have a limited list of currencies they can actually transfer.
  2. XE customer service is only available through business hours, which is frustrating if you run into a roadblock on a weekend or out of hours making your transfer.
  3. XE doesn’t accept payment via credit card cash or cheque.
  4. Generally XE is used to make international payments, this process can be a bit more complicated. It is best to contact XE before using them to receive money from overseas.

Additional information about transferring money overseas with XE


IBAN is a number used by European banks when receiving an international money transfer. As a result, you may need an IBAN if you're receiving your payment to Europe. You will need to contact XE to verify you have right details for this process.

XE routing number

In a similar way, routing numbers are used by US banks. So this will be necessary when receiving your payment to the United States. Again, contacting XE is the best in this instance.

XE BSB number

When receiving an international money transfer to Australia via XE, you will need to have the details of XE's Australian account. Each bank account in Australia has a BSB and account number. You may also need their SWIFT code for international payments. Follow the same process as above and contact them.

View currency exchange rates from XE

As the 'go to' tool for currency exchange rates, it’s important to remember that the rates shown on the XE homepage are the interbank rate. This means it is the rate before XE have applied their margin.

The best way to find out the exchange rate you would get for a transfer with XE is to sign up for an account and get a quote. You can read our article about currency exchange with XE here.

Learn more about XE Money Transfers

Related video: How to make international money transfers with XE

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That's what you need to know about receiving an international money transfer with XE. As it isn't as straight forward as making a transfer overseas, remember that XE customer service is available throughout weekday business hours if you need assistance.

The next time you or someone else needs to receive money internationally, check how much you can save using our money transfer comparison tool.

Oscar Murray
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Last updated
March 16th, 2022