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

13,165 customer reviews on HiFX on Trustpilot


4 hours ago
by Barry Neale

5 stars

Very easy to use and good rates.

Very easy to use and good rates.

4 hours ago
by Stuart

5 stars

QUICK & EASY WEBSITE

QUICK & EASY WEBSITE. GOOD EXCHANGE RATES.

4 hours ago
by Allen Surrey

5 stars

Having used HiFX in the past I have …

Having used HiFX in the past I have several proforma's for payees so it is very easy to pull these up and complete the transaction in quick...Read more

Having used HiFX in the past I have several proforma's for payees so it is very easy to pull these up and complete the transaction in quick time. Transactions completed without problems.


More reviews

1 day ago
by Mr Harley

5 stars

Used these lots now

Used these lots now. Quick great rate never had an issue.

1 day ago
by Taiyab

5 stars

Very efficient and quick service.

Very efficient and quick service. I am very Happy.

1 day ago
by Peter W

5 stars

Efficient service and reasonable rate …

Efficient service and reasonable rate of exchange

1 day ago
by Eaton House

5 stars

Very smooth and fast process

Very smooth and fast process, with simple, clear instructions. Good exchange rates, excellent value . All-in-all, it makes the banks look very poor by...Read more

Very smooth and fast process, with simple, clear instructions. Good exchange rates, excellent value . All-in-all, it makes the banks look very poor by comparison.

1 day ago
by Hollie

5 stars

Very easy experience helpful employees

Very easy experience helpful employees

2 days ago
by Ann-Marie

5 stars

Easy to use

Easy to use. Fab for transfers.

2 days ago
by Larry Klatzko

5 stars

Digital magic!

Perfect service! Thank you crew for making the digital age functional. Pure magic!

2 days ago
by Mrs Barwick

5 stars

if you need to send money abroad with …

if you need to send money abroad with no fuss then I recommend HFIX. I have used them for around 9 years and have never had a problem

2 days ago
by Graham Deavin

5 stars

A satisfied user.

Once again a quick, easy transfer from my UK bank account to a supplier in France. The service from HiFX is much better and cheaper than that provided by...Read more

Once again a quick, easy transfer from my UK bank account to a supplier in France. The service from HiFX is much better and cheaper than that provided by UK High Street banks.

2 days ago
by Stuart

5 stars

Easy to use site and very fast transfer …

Easy to use site and very fast transfer of money to my account

2 days ago
by Michael

5 stars

HIFX for anyone

I have used HIFX for 14 years and over that time the service has developed from needing to call a trader to being able to do everything on line while...Read more

I have used HIFX for 14 years and over that time the service has developed from needing to call a trader to being able to do everything on line while still having the ability to contact them by phone if necessary. It would always be good to have a slightly better rate but as there are no fees to pay and the rate guaranteed once you have confirmed the trade then this is a vastly superior service to anything the banks provide.

2 days ago
by molly ndimande

5 stars

Very efficient reliable service i have …

Very efficient reliable service i have ever known and free of charge remarkable will recommend to hundreds if not to millions superb service very honest

2 days ago
by Mary Clark

5 stars

I have been using HIFX for several …

I have been using HIFX for several years now since buying a house in France and having a daughter in Australia. It is very efficient and easy to use,...Read more

I have been using HIFX for several years now since buying a house in France and having a daughter in Australia. It is very efficient and easy to use, even better now that the £9 fee has been dropped

2 days ago
by Mr PETER KELLY

5 stars

Quick and easy no delays

Quick and easy no delays, no masses of paperwork, very efficient.

2 days ago
by Ronald Dubber

5 stars

I have used HiFX quite a few times

I have used HiFX quite a few times and find the service exceptional. It's easy to follow trends and make the transfer at the push of a button. I have...Read more

I have used HiFX quite a few times and find the service exceptional. It's easy to follow trends and make the transfer at the push of a button. I have looked at other options, but HiFX is by far the best way for me.

3 days ago
by Peter Henderson

4 stars

A simple and easy experience

A simple and easy experience

3 days ago
by Ian Allan

5 stars

Simple and safe

Easy to register with HiFX. Simple easy to follow process to transfer money abroad and funds clear usually the following working day. Happy to recommend.

3 days ago
by Alexander

5 stars

Simply the best

Started transfer Monday morning, money en route Tuesday ten past ten. Brilliant, simple to execute, no long winded procedures. Have been using HIFX for a...Read more

Started transfer Monday morning, money en route Tuesday ten past ten. Brilliant, simple to execute, no long winded procedures. Have been using HIFX for a long time.

3 days ago
by Sheila

5 stars

BRILLIANT SERVICE

So quick so easy! And no hassle with web page going down. ! Try it and see

3 days ago
by Barry

5 stars

1st rate service and a competitive rate.

1st rate service and a competitive rate.

3 days ago
by Michael

5 stars

Fast and efficient transfer of funds …

Fast and efficient transfer of funds with regular updates so you know exactly what the state of play is. I have used HiFX for a number of years now and...Read more

Fast and efficient transfer of funds with regular updates so you know exactly what the state of play is. I have used HiFX for a number of years now and never had a problem.

3 days ago
by Mark Corr

5 stars

HiFX high performance

The whole process was user friendly and efficient.

3 days ago
by John

5 stars

first class service

first class service

3 days ago
by Malcolm

4 stars

Easy to use

Easy to use - a little slow to transfer money but I suspect this is not the fault of HiFX.

3 days ago
by Barbara

5 stars

12 years of good service

We have been using HiFX for 12 years and they have never let us down. Once registered it is quick and easy to make transactions and of course saves money...Read more

We have been using HiFX for 12 years and they have never let us down. Once registered it is quick and easy to make transactions and of course saves money too..

4 days ago
by Graeme

5 stars

Much better than using your bank to …

Much better than using your bank to transfer money overseas. No fees and a good exchange rate. Tends to take 3 days.

4 days ago
by Twizzle

5 stars

Easy process

Easy process, always reliable ... saved £220 on a €8000 transaction compared with UK bank rates.


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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