HiFX Review

Learn whether HiFX is a good option for making international money and currency transfers.

 

HiFX is one of the biggest money transfer companies in the world. Their parent company Euronet is listed on the NASDAQ and recently acquired Xe.com

Locally, HiFX has Australian offices in Sydney, Melbourne and is also expanding to other capital cities. 

HiFX Screen

 

What this article covers

We’re most interested in how safe HiFX is, how they work and when you should use them. In this article, we’ll explore:

 

 Pros and Cons

 Is HiFX a good option to transfer money overseas

 HiFX fees and charges

 

Related Link: Click here to visit HiFX Logo

 


 

Pros

  • Very competitive exchange rates with a low minimum transaction size

  • Great for businesses. Full access to forward exchange contracts, risk management advice and foreign currency accounts

  • Ability to pay funds using various payment options (including credit cards and debit cards in many cases)

 Cons

  • Business account holders using HiFX are limited to pay via bank transfer only

  • Delays of transfer due to technical or admin issues are rare but can cause a hassle

  • Exchanging currency comes with potential risks – including market fluctuations beyond your control

 

 

 

Is HiFX a good option to tranfer money overseas?

They are particularly useful for individuals doing regular transfers overseas.

HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment. 

 

The Currency Shop says:

  • They are particularly useful for individuals doing regular transfers overseas.

  • HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment.

  • Use our comparison table to compare foreign exchange rates, fees and services of other providers.

  • You can read our article about how to transfer money with HiFX, here

 

Related Link: Click here to visit the HiFX website 

 

 

 
 
HiFX Website

 

HiFX fees and charges

 

HiFX charge in 2 ways - a transfer fee plus an exchange rate margin

1. Transfer Fee   2. Exchange Rate Margin 

HiFX have a simple and transparent fee structure. They charge $15 for any transfer up to $10,000 (Australian dollars). Any transfer over $10,000, they do not charge a fee

HiFX feature a handy online calculator on their website to display the current conversion exchange rates on offer.

It makes understanding the value of your money in many foreign currencies clear and simple. Just type in the amount you need to transfer – along with the currency the conversion is coming from and going to – and the calculator tells you the current rate on offer.

Alternatively, you can click here and use our exchange rate comparison engine. You can see HiFX exchange rates and compare them to the Big 4 banks and other money transfer companies.

 


Visit HiFX to Learn More

 

Go to HiFX

 


 

Using HiFX to Transfer Money Overseas

 

Frequently asked questions (FAQs)

HiFX are wholly owned by Euronet Worldwide. Euronet are a massive international company listed on the NASDAQ stock exchange in the US. They own many financial services companies such as XE.com and Ria Money Transfer along with HiFX.

HiFX is regulated by ASIC. Their Australian Financial Service Licence is 226484. Find more information here.

Before transferring money overseas using HiFX as your transfer provider, you need to register a new account.

You can sign up to a personal or business account and the process is fairly quick and easy (less than 5 minutes, according to the HiFX website).

In some cases, security requirements demand that you prove your identity and this can be done with document scans and clear photographic images sent electronically.

Depending on where your money is being sent, transfers are usually received in 1-2 days.

The amount you can transfer online ranges from double digits to 6 figures. Larger transfers can be made via using a personal Account Manager.

Funds can be transferred to HiFX in any major currencies using EFT or BPAY. HiFX also accept payments via credit and debit cards but you must set up a personal account first – and check with HiFX for each specific transaction. Business customers can only transfer funds using bank transfer. 

HiFX have a simple and transparent fee structure. They charge $15 for any transfer up to $10,000 (Australian dollars). Any transfer over $10,000, they do not charge a fee.

Business customers using HiFX to send money overseas must pay by bank transfer. For personal account holders with HiFX, in many cases payment by debit and credit cards are accepted.

HiFX has bank accounts in the UK, Australia and New Zealand.

If using bank transfer payment options, in order to send your payment on time, the full amount must show as cleared funds by the agreed payment date.

HiFX currently trades in 60 world currencies and gives you the option to send money internationally to 170 countries. The complete list of countries is listed on their home page here.

 

 

Related Link: Click here to visit the HiFX website


 

More from The Currency Shop

 

International Money Transfer Guides By Country

Traveling to another country? Our experts share exchange currency tips to help you get a better exchange rate and lower fees. 

Transferring Money Back to Australia

This article explores the cheapest ways to transfer money back to Australia based on the amount you want to send.

5 Cheaper Ways to Transfer Money Overseas

Using a bank is one of the easiest ways of sending money overseas but it is also the most costly. Here are 5 cheaper alternatives.