HiFX Review

Learn whether the 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. 

 

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.

 

What we will cover

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

  • How safe and secure is HiFX and who owns them?

  • The Fees and Charges to Use HiFX 

  • How to send or receive money overseas 

  • How good is HiFX?


 

How safe and secure is HiFX and who owns them

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

 

The Fees and Charges to Use HiFX 

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

Transfer Fee

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 Exchange Rates

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.

 


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How to send or receive money overseas 

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.

 

How Do I Pay Funds to HiFX?

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.

Do they accept credit cards?

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.

Available Currencies and Countries

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:

 

How good is HiFX?

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. 

Pros of Using HiFX for Your Money Transfer

  • Very competitive exchange rates with a low minimum transaction size

  • Online convenience

  • 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 of Using HiFX for Your Money Transfer

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

  • Operations and dealing team based in New Zealand

 

Do you still have more questions?

Talk to a local consultant

Call 1800 004 930