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

14,025 customer reviews on HiFX on Trustpilot


19 hours ago
by Roy

5 stars

all the years i have used Hi Fx never …

all the years i have used Hi Fx never ounce have i had any problems with moving money from one place to another

19 hours ago
by Carol

5 stars

This is such a brilliant

This is such a brilliant, fast way to send currency abroad - will never go near a bank again!!

19 hours ago
by Roger T

5 stars

I could not believe how easy it was to …

I could not believe how easy it was to register and even easier to send money to Spain.Very competative exchange rates with zero extra charges.


More reviews

19 hours ago
by Lin Barlow

5 stars

great service thanks

great service thanks

19 hours ago
by Reginald M

5 stars

Easy & efficient way to move money

Easy & efficient way to move money, use the often.

19 hours ago
by steveellam

5 stars

We have undertaken various money …

We have undertaken various money transfers to Asia with hifx. Easy friendly trustworthy solution to pay your supplyer without the fuss if banks 5MIN...Read more

We have undertaken various money transfers to Asia with hifx. Easy friendly trustworthy solution to pay your supplyer without the fuss if banks 5MIN PROCESS

19 hours ago
by Elizabeth

5 stars

HiFX use with confidence

I have used HiFX a number of times and have always found the service good. This time their account detailed had changed since making my last transfer. I...Read more

I have used HiFX a number of times and have always found the service good. This time their account detailed had changed since making my last transfer. I telephoned them directly and was given assurances that my payment could still be made to the old account number without causing any delays. As promised later that same day an email confirmed funds had reached them. The next day another email to confirm funds forwarded. The emails mean you are always informed as to the progress of your funds. I have recommended HiFX to others and will continue to do so.

19 hours ago
by Keith

5 stars

Excellent service

Excellent service, will use them again.

19 hours ago
by jean hinchliffe

5 stars

I have found HiFix very easy to use and …

I have found HiFix very easy to use and helpful. My use has been mainly for emergency family situations and so it makes that much easier to have a system...Read more

I have found HiFix very easy to use and helpful. My use has been mainly for emergency family situations and so it makes that much easier to have a system you can have confidence in.

19 hours ago
by Hilde

5 stars

Efficient

Efficient, friendly service.

1 day ago
by Thomas

5 stars

Very good service

Very good service

1 day ago
by Patricia

5 stars

Excellent Service

My husband and I have had an account for approximately 15 years. We originally bought a villa in Spain and transferred money through HIFX. We have...Read more

My husband and I have had an account for approximately 15 years. We originally bought a villa in Spain and transferred money through HIFX. We have recently sold the villa and Tom our account manager talked us through the whole process of exchanging Euros to Pounds. He was extremely helpful and polite.

1 day ago
by Albert

5 stars

Do not look any futther.Use …

Do not look any futther.Use HIFX.Excellent service

1 day ago
by Michael

5 stars

Good quick service

Good quick service, reliable.

1 day ago
by Carolyn

5 stars

HiFX helped

I had some problems, which were due to my ineptitude, the staff at HiFX were very helpful & patient with me sorting them out.

1 day ago
by Mrs Gill Elward

5 stars

Would definitely recommend!

I use the HiFX on a regular basis for International transfers. I would have no hesitation in recommending this company to anyone. Very efficient and...Read more

I use the HiFX on a regular basis for International transfers. I would have no hesitation in recommending this company to anyone. Very efficient and professional.

1 day ago
by Margaret

5 stars

I have been using HiFX for a number of …

I have been using HiFX for a number of years and always found them very helpful when I needed it and very quick when sending money abroad.

1 day ago
by Robert Greenland

5 stars

Transparent system

Easy to use account with good exchange rates.

1 day ago
by George Jamieson

5 stars

Moneycorp's loss

Have just left Moneycorp due to the poor support they have given me, very impressed with HiFX so far.

1 day ago
by Janice nicholls

5 stars

easy to follow ...quick results....A1 …

easy to follow ...quick results....A1 all the way!

2 days ago
by L.Amos

5 stars

Quick and efficient

Quick and efficient

2 days ago
by Susan

5 stars

Hi Fix is very easy to navigate and use.

Hi Fix is very easy to navigate and use.

2 days ago
by John Draper

5 stars

Quick & easy to open an account

Quick & easy to open an account, also to transfer money

2 days ago
by HarryO

5 stars

Very easy to transfer money with no …

Very easy to transfer money with no commission charged! Would definitely recommend

3 days ago
by Geoff Cohen

5 stars

Simple to use and fair rates

Simple to use and fair rates. Easy for repeat transfers to existing beneficiaries.

3 days ago
by Anne

5 stars

really good customer service

really good customer service, nothing is too much trouble. Good efficient service

3 days ago
by John

5 stars

Excellent service

Excellent service

3 days ago
by Tim Claydon

5 stars

I use HiFX to buy euros to pay bills in …

I use HiFX to buy euros to pay bills in France. The system is easy to use, the exchange rate is good and I can talk to someone for advice if I need to....Read more

I use HiFX to buy euros to pay bills in France. The system is easy to use, the exchange rate is good and I can talk to someone for advice if I need to. Agents are always very helpful.

3 days ago
by John Crawley

1 stars

Appauling Service with significant delays and a total lack of accountability by HIFX.

Appauling Service. The last two transactions I have made sending currency from the UK to a leading South African bank have both taken Hifx more than 3...Read more

Appauling Service. The last two transactions I have made sending currency from the UK to a leading South African bank have both taken Hifx more than 3 weeks. The latest sizable transaction I paid hifx on 22nd December, they did not process the transaction until the 27th December and as of today 14th Jan I still have not received the funds in my beneficiary account . I have contacted HIFX numerous times to resolve the matter and they continue to ignore my emails and not provide satisfactory resolution. For more than 3 weeks now they have not been able to tell me where my urgently required funds are which I'm still awaiting. Shameful service on both transactions. I would not recommend this FX company, once they process a payment they have no regard for whether funds reach final beneficiary bank. I have had to make all the effort in trying to trace my missing funds which they still can't tell me where they are even though they were responsible for the transfer. Their Bank Barclays seems to use intermediary middle man banks who hold onto your funds and don't pass these to the final destination. Use this company with extreme caution. They have completely mucked up and significantly delayed both transactions to leading banks for no apparent reason, they say you have a dedicated relationship or account manager but when they muck up, loose or significantly delay your transfers these people are non existent or simply incapable of tracing or resolving the issue. All the while i incur additional costs, effort and finance charges while my funds are missing or delayed.

4 days ago
by Trevor and Carol

5 stars

Quality service with a smile

We have found Hifx to be very reliable and quick with transferring money to wherever we need it. They are always helpful on the telephone, should we...Read more

We have found Hifx to be very reliable and quick with transferring money to wherever we need it. They are always helpful on the telephone, should we have a query. We would highly recommend them.


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%.

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.


Ask questions or share your comments on HiFX




Compare all the options before your next money transfer Compare now

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