HiFX - Independent review

All you need to know before sending money with HiFX

Widely-loved by their customers with extremely high review ratings. More than 20 years of experience providing currency exchange services. Part of Euronet, a large, trusted financial services business.



HiFX review by Monito

HiFX is a large and trusted international foreign exchange business. Although they are a UK company and primarily serve individuals and businesses in the United Kingdom, they can transfer money between almost any two countries in the world. HiFX are widely trusted and appreciated by their customer base, scoring an enormously high 9.4 out of ten in customer reviews.

HiFX have been exchanging currency for over 20 years and are part of the Euronet Worldwide Group, a large, very successful, international financial services business.

You can easily setup an account online and make currency exchange transactions using their secure online platform (available all day, every day) or by contacting their customer service center. You can fund transactions via your bank account, debit card, or credit card. Be aware that funding via credit card will incur an additional fee.

You can get help with any type of transaction including the assistance of a personal account manager if you’re transferring large amounts. They also offer advice if you’re trying to target a specific rate, want to make multiple payments, or if you have complex needs. In addition to standard foreign exchange they provide forward contracts and other currency transfer services. They also have several business-specific services for international commerce.

HiFX lets you transfer money between over 120 countries and over 130 currencies with most transactions being completed the same working day. They offer good exchange rates with no fees, and provide regular updates on your transfer via email or SMS.

Overall, HiFX are a trusted, reliable, fast, and secure way to transfer money internationally, and we recommend them for your currency exchange needs.


PROS
  • You can trade between over 120 countries and 130 currencies.
  • Most transfers are completed in one working day, but can take up to four working days.
  • Widely loved by their customers, with glowing reviews.
  • You can fund via bank transfer, debit card, or credit card.
  • Regular updates via email or SMS.
  • Friendly, UK based telephone support.
CONS
  • There exchange rates are competitive, but not necessarily the best you will find.
  • All transfers are made to the recipient’s bank account. Local cash pickups are not supported.

 


Transferring a Large Amount Abroad?

Make the Most of Your Currency Exchange



Reviews powered by

11,977 customer reviews on HiFX on Trustpilot


22 hours ago
by Stella Fuller

5 stars

This is the second time I've used Hifx …

This is the second time I've used Hifx to transfer funds to South Africa. No only did the money arrive amazingly fast, I am super impressed by their...Read more

This is the second time I've used Hifx to transfer funds to South Africa. No only did the money arrive amazingly fast, I am super impressed by their customer service. They actually talk to you....human beings!! Not machines.....and cannot be more helpful. Excellent company to deal with.

22 hours ago
by Gerald

5 stars

Great service.

Great service.

22 hours ago
by Christine

5 stars

Easy

Easy, fast service & good rates. I have been using HiFX for eight years & its got easier & faster. Highly recommended.


More reviews

1 day ago
by Stephen Kinley

5 stars

Simple straightforward no nonsense

Simple straightforward no nonsense. Good exch rate. Free of charges.

1 day ago
by Patricia

5 stars

Very easy to make an international …

Very easy to make an international transfer. Rates very competitive. Definitely recommended

1 day ago
by Sally

5 stars

Easy to make transfers by Internet

Easy to make transfers by Internet, with a good exchange rate. If there is a problem, the staff at HiFX respond rapidly and effectively.

1 day ago
by Adrian

4 stars

Very clear and easy to use web site …

Very clear and easy to use web site with constantly updated exchange rates. There are clear instructions for paying Hifx. The whole transaction was...Read more

Very clear and easy to use web site with constantly updated exchange rates. There are clear instructions for paying Hifx. The whole transaction was processed very quickly and with no hassle. There are no transfer fees. The only negative is that the exchange rate on a transfer of over 20k was still more than 1% below the spot rate. Better than the banks offer but still a good profit for Hifx on what is essentially an automated transaction.

1 day ago
by Roger

5 stars

Easy FX transfers

Easy transfer at good rate

1 day ago
by Michael

5 stars

Excellent company to do Business with

Excellent company to do Business with

1 day ago
by jonathan miller

5 stars

Excellent service

Excellent service. Never any problems

1 day ago
by Susan

5 stars

Speedy transfer

Speedy transfer, competitive rate

2 days ago
by Malcolm

5 stars

HiFX is a highly professional and …

HiFX is a highly professional and courteous company which can be relied on to handle your financial transfers expertly and efficiently.

2 days ago
by Graham

4 stars

Third party bank deductions made on international transfers

Is there any way HiFX can open transition accounts with other banks in addition to Barclays. One of my accounts is held at Lloyds Gibraltar, and...Read more

Is there any way HiFX can open transition accounts with other banks in addition to Barclays. One of my accounts is held at Lloyds Gibraltar, and whenever I make a transfer to Cyprus via yourselves, I'm charged a fee, not by my personal bank, but by a third party bank, because Lloyds doesn't 'interface' ( if that's the correct term ) with the bank you use.

2 days ago
by Ian

4 stars

great easy online service with good …

great easy online service with good security. easy exchange rate comparison and examples.

2 days ago
by Norah Baxter

5 stars

HiFX MAKES MOVING MONEY SIMPLE

I have used HiFX for all my overseas financial transactions for many years now and they have never let me down. Their staff are well trained, helpful and...Read more

I have used HiFX for all my overseas financial transactions for many years now and they have never let me down. Their staff are well trained, helpful and courteous. I have had excellent advice and service from them and cannot recommend them highly enough.

2 days ago
by Linda

4 stars

Easy to use reasonable rate with no fees

Easy to use reasonable rate with no fees

2 days ago
by David

5 stars

Never had any problems in the years I …

Never had any problems in the years I have used HIFX so haven't any problem recommending the company

2 days ago
by Stuart

4 stars

I have been using hifx now for about …

I have been using hifx now for about 10 years now first to buy my house over sea,s and now to transfer my pension and have always had good service ...Read more

I have been using hifx now for about 10 years now first to buy my house over sea,s and now to transfer my pension and have always had good service quick and efficient

2 days ago
by John

5 stars

helpful and efficient

helpful and efficient

2 days ago
by Mark

5 stars

Very user friendly.

Very user friendly.

2 days ago
by Jeanette

5 stars

Excellent customer service

Excellent customer service - really helpful when contacted. Would definitely recommend HiFX.

3 days ago
by John Mitchell

5 stars

Good rate no fees quick and easy

Good rate no fees quick and easy. Great

3 days ago
by Robert

5 stars

RELIABLE!

RELIABLE! Trustworthy. Use with complete confidence

3 days ago
by Paul

5 stars

Straightforward

Straightforward, courteous, friendly and helpful

3 days ago
by Leonard

5 stars

so easy to do and efficient

so easy to do and efficient

3 days ago
by Kim Wallace

5 stars

Fast efficient and easy

Fast efficient and easy

3 days ago
by David Wing

5 stars

Great rates

Great rates, really easy to transfer money

3 days ago
by Alan

5 stars

Excellent website

Excellent website - clear and easy to use. Telephone support too, which I have only used a few times has been very clear and attentive. Fast transfers...Read more

Excellent website - clear and easy to use. Telephone support too, which I have only used a few times has been very clear and attentive. Fast transfers with SMS and emails keeping you informed on progress.

3 days ago
by Valerie Lawrence

5 stars

Emergency transfer

So grateful for quick transfer. Son in US diagnosed with lung cancer so I travel with no funds at short notice. Using this website on my iPad with little...Read more

So grateful for quick transfer. Son in US diagnosed with lung cancer so I travel with no funds at short notice. Using this website on my iPad with little computer savvy the funds arrived in super quick time.

3 days ago
by Alan

5 stars

Good swift service

Good swift service, No hold ups great experience not the best exchange rate but well worth the difference knowing that you are not chasing the transfer...Read more

Good swift service, No hold ups great experience not the best exchange rate but well worth the difference knowing that you are not chasing the transfer every step of the way


HiFX have some of the best customer reviews we’ve ever seen. They have an average score of 9.4 out of ten on Trustpilot, which is astonishingly high. 86% of reviewers rate their services at five stars, with fewer than 4% giving reviews of three stars or lower. They are very-widely loved by their customer base with reviewers citing their excellent customer service, competitive rates, and the speed of transfers. Many of their customers have been using HiFX for years and are delighted with the services.

Here’s a typical review, “I have used HiFX for several years and have always found the online service easy to use. Recently I needed help to transfer funds back to the UK and needed help with this. Their telephone service was excellent, the people I spoke with were friendly and very professional. They knew their stuff! I would recommend the company to anyone with absolutely no reservations.”

Because around 95% of reviews of HiFX were full of praise, it was quite difficult to find negative reviews. Of the ones we located, there wasn’t really a clear, overarching type of problem people had. Instead there were issues with getting accounts authorised, some money transfers taking a few days to get through, or accounts being closed due to inactivity.

Here’s an example of a two-star review, “Slow and requiring too much manual intervention. Therefore increased risk. Two days and counting between funds payment and receipt in their accounts. Not including final remittance of destination currency.” It’s notable that HiFX did respond to almost all negative reviews with explanations and offers to help resolve any outstanding issues.

Overall though, customer reviews for HiFX are among the best we have seen for any business — foreign exchange provider or otherwise.


Send money with HiFX


Can I trust HiFX?

Yes. HiFX is a large and well-known international foreign exchange provider offering services around the world. They are part of Euronet, the third-largest money transfer business in the world. In 2016 Euronet had nearly $2 billion in revenue, $250 million in income, and assets of over $2.5 billion. Euronet is the leading company in ATM services, processing over $70 billion in ATM withdrawals, money transfers, and prepaid products every year. Euronet Worldwide is listed on the Nasdaq with over 4,500 employees around the world. They have partnerships with hundreds of companies including Amazon, Visa, MasterCard, PayPal, Apple, and Google.

Euronet also owns Ria which lets you transfer money so recipients can pick up their cash in person.

HiFX serves over 6,000 businesses and 100,000 customers every year and they have already transferred over £140 billion for customers across 120 countries. They are authorised and licensed by the Federal Conduct Authority (FCA) and HMRC in the United Kingdom. They use extremely strong encryption and technology to protect clients funds and all client money is held in segregated accounts in line with regulatory requirements. HiFX are recognised all over the world as one of the market leaders in international money transfers.

The company has been featured in the Sunday Times, the Daily Mail, the Daily Telegraph and The Guardian.



How HiFX works

Step by step breakdown of how to use the service. HiFX’s currency exchange process works as follows:

  1. Setup an account with HiFX—they will need your name, address, phone number, and contact details.
  2. You may need to provide bank details and other proof of identification like a photo or scan of identification documents.
  3. You will need to let HiFX know the types of exchanges you are planning to complete.
  4. Decide the currencies that you want to exchange money between.
  5. Book a rate through the HiFX website or by calling their customer service center.
  6. Provide details of the sender and receiver of the funds, including the receiver’s bank account.
  7. Send money to HiFX, you can pay via bank transfer, debit, or credit card.
  8. HiFX converts the money and deposits it in the recipient’s bank account.
  9. You can track your transfer through email or get text message alerts and notifications.


 

HiFX Fees and Exchange Rates

HiFX fees

HiFX doesn't charge any transfer fees.

There are a couple of other situations where you may be charged a fee, although these are typically not levied by HiFX directly, or they are simply “passed through” by them.

  • The bank receiving your funds, or an intermediary bank, may deduct fees when crediting the payment. You should always check with the receiving bank to understand any fees that may be charged.
  • If you fund your transaction with a credit card, you will be charged a surcharge of around 1.6% of the transaction amount.

HiFX Exchange Rates

Overall, HiFX’s exchange rates are competitive, but they are not the best you will find on the market. They typically offer foreign exchange rates between 0.4% and 1.2% lower than the baseline interbank rate.

Here’s a comparison of converting British pounds sterling to Australian dollars.

Converting £1,000 to Australian dollars

  • Mid-market exchange rate (baseline) — 1.66640 AUD per GBP — $1666.40 AUD.
  • Exchange rate offered by HiFX — 1.6489 AUD per GBP — $1,648.90 AUD.
  • Difference between baseline and HiFX rate for £1,000 — $17.5.
  • Percentage in extra costs for using HiFX compared to baseline — 1.05%.
  • This does not take into account HiFX’s fee of £9.

Converting £10,000 to Australian dollars

  • Mid-market exchange rate (baseline) — 1.66640 AUD per GBP — $16,664.40 AUD.
  • Exchange rate offered by HiFX — 1.6564 AUD per GBP — $16,564.00 AUD.
  • Difference between baseline and HiFX rate for £1,000 — $100.40.
  • Percentage in extra costs for using HiFX compared to baseline — 0.6%.

Exchange rates are correct as at April 2017.



 

HiFX Mobile Applications

HiFX do not currently provide dedicated mobile applications. Their online platform is available through web browsers on desktops, laptops, smartphones, and tablets.


Additional Services From HiFX

HiFX does offer several additional services for people with more complex currency transfer needs. These include:

  • Forward contracts — you can “lock in” an exchange rate for a future date, up to two years in the future. This does incur a small fee and require a small, up-front deposit, but gives you peace-of-mind from fluctuating exchange rates.
  • Regular payments — you can set up regular payment agreements with HiFX and lock in exchange rates for transfers between currencies. These are typically paid for via direct debit, and in some cases there is no additional fee to pay.
  • Rate alerts — you can signup to receive rate alerts by email if a currency pair you are following reaches a certain exchange rate. This lets you take advantage when the foreign exchange rate is in your favor.
  • Business services — HiFX provides several dedicated services for businesses including: automatic notifications, international payment options, account control, multiple payments, forward orders, credit terms, three-year hedging, and early draw down.
  • HiFX is also available to developers to “white label” as a standalone platform, managed service, or fully integrated API.

The Story Behind HiFX

Founded out of frustration with the banking sector in 1998 by Shaun Taylor (current Executive Director), Laurence Butcher (current CEO) and Matthew Knowles (current Group Managing Director). HiFX stands for Halewood International Foreign Exchange Limited.

HiFX has offices in New Zealand since 2001 and in San Francisco since 2004. In 2014, the company was bought by the Euronet Worldwide group, thereby joining Ria and XE.


HiFX offices


United Kingdom

Maxis 1, Western Road
Bracknell, Berkshire
RG12 1RT
United Kingdom


Contacting HiFX

  • Email: info@hifx.co.uk.
  • Phone: +44 (0)1753 859159.

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Key facts about HiFX

Service information

Time to open an account A few minutes
Pay-in options Credit card
Debit card
Bank Account
Pay-out options Bank account
Minimum amount Yes
Maximum amount No
Available languages
English
Personnal transfers Yes
Business customers Yes
Advanced currency contracts Yes
Required documents ID, Proof of Address

Company information

Type of service provider Foreign exchange companies
Active since 1988
Headquarter Bracknell, Berkshire, UK
Offices in United Kingdom/New Zealand/United States
Regulated by FCA/HMRC

Contact information

Contact support info@hifx.co.uk
Service hour 24/7
Phone 0175 3859 159
Twitter @https://twitter.com/HiFX
Facebook https://www.facebook.com/pages/HiFX-plc/142327695906127


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