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

14,069 customer reviews on HiFX on Trustpilot


4 hours ago
by bryon newbery

4 stars

Service excellent

Service excellent, rates could be a tad better.

4 hours ago
by Stuart Whitehead

5 stars

I used HiFX when purchasing a property …

I used HiFX when purchasing a property in Spain in 2014, since that time I have continued to use HIFX to make international payments. The service is...Read more

I used HiFX when purchasing a property in Spain in 2014, since that time I have continued to use HIFX to make international payments. The service is impeccable, I would not hesitate to recommend HiFX Stuart Whitehead Stonyhurst, Clitheroe

4 hours ago
by Peter

5 stars

We have used HiFX on numerous occasions …

We have used HiFX on numerous occasions and have never had any cause for complaint. The online process is easy to follow and the transfer was completed...Read more

We have used HiFX on numerous occasions and have never had any cause for complaint. The online process is easy to follow and the transfer was completed within the time specified. On the one occasion we had to ring them (through our fault not theirs) they couldn't have been more helpful. We would have no hesitation in recommending them.


More reviews

4 hours ago
by Christopher Beattie

5 stars

HiFX is very easy to use

HiFX is very easy to use, keeps me in touch with every step and gives me a very good rate.

1 day ago
by Marcus Wong

5 stars

Very smooth and easy experience

Very smooth and easy experience, the odd question handled quickly by HiFX staff via email, competitive rate

1 day ago
by Russ

5 stars

I have been using HiFX monthly for some …

I have been using HiFX monthly for some years now and find them to be professional, helpful and have excellent standards. I have no intention of moving to...Read more

I have been using HiFX monthly for some years now and find them to be professional, helpful and have excellent standards. I have no intention of moving to anybody else. Thanks HiFX

1 day ago
by Larry Klatzko

5 stars

Excellent facility

Excellent facility! Thank you for making this service available.

1 day ago
by 1Elizabeth

5 stars

Always works for us

We’ve been using HIFX for many years now and always been happy with the service. It’s even better now doing everything online and the transfer...Read more

We’ve been using HIFX for many years now and always been happy with the service. It’s even better now doing everything online and the transfer arrives in days.

1 day ago
by David

4 stars

Have been using HiFx for nearly 5 years …

Have been using HiFx for nearly 5 years without any problems they always deliver on time.

1 day ago
by Barbara

5 stars

Great service as always.

Great service as always.

1 day ago
by Margaret

5 stars

No fee transfers

No fee, excellent rates, my money is transferred with no issues at all. I highly recommend HiFX to anyone wishing to transfer money internationally

1 day ago
by Christine

5 stars

I have to transfer money …

I have to transfer money internationally regularly & HiFX makes it so easy, fast, safe & no fees, so for an OAP like me it's fantastic!!

1 day ago
by Elaine

5 stars

Great service

Great service. SImple to use.

1 day ago
by Susan

5 stars

I have used HIFX since 2006 when we …

I have used HIFX since 2006 when we first bought a property in France. I have never had cause to make a complaint. The online money transfer is easy to...Read more

I have used HIFX since 2006 when we first bought a property in France. I have never had cause to make a complaint. The online money transfer is easy to use but I always have always found staff very helpful when I have needed to speak to someone in person.

2 days ago
by Mota

5 stars

Phone support is impeccable

Phone support is impeccable, service is reliable and fast. A winning combination

2 days ago
by Michael

5 stars

Why use anyone else?

Easy, quick and efficient, plus a good exchange rate and no charges, says it all.

2 days ago
by Julia

5 stars

Quick and simple to go through HIFX

My husband had used HIFX a couple of times and when I needed to send some funds abroroad to family, he suggested I use HIFX. It was so quick and simple to...Read more

My husband had used HIFX a couple of times and when I needed to send some funds abroroad to family, he suggested I use HIFX. It was so quick and simple to set up an account online. HIFX also gave me a better rate than if i had gone through my bank..bonus !! Also no fee charged. If I can do it anyone can. HIFX are reliable and trustworthy and I have no hesitation in recommending them

2 days ago
by annj

5 stars

All communications went smoothly and …

All communications went smoothly and staff were most helpful.

2 days ago
by Moses

5 stars

Excellent service

A great service, easy to set up and to my surprise the funds arrived the following day. Most of all the rate was 2 or 3 points better than my existing...Read more

A great service, easy to set up and to my surprise the funds arrived the following day. Most of all the rate was 2 or 3 points better than my existing regular service provider. yep switching to HIFX for my regular transfers.

2 days ago
by PJ

5 stars

I have been using HIFX for several years.

I have been using HIFX for several years & have always found them to offer a better than average rate. There is no fuss, i am able to pay by credit...Read more

I have been using HIFX for several years & have always found them to offer a better than average rate. There is no fuss, i am able to pay by credit card & receive a speedy service.

2 days ago
by Martin

5 stars

Extremely efficient and talked me …

Extremely efficient and talked me through the process. Spoke with two people both had a grip of situation and the trade

2 days ago
by melanie dew

5 stars

Amazing

Fast efficient. The easiest way to transfer money abroad. Would totally recommend it

2 days ago
by Coypu Carl

4 stars

Very helpful

They were very helpful - both by telephone and by e-mail - when, having discovered a problem with our bank, we had to use a somewhat creative method of...Read more

They were very helpful - both by telephone and by e-mail - when, having discovered a problem with our bank, we had to use a somewhat creative method of funding our transaction!

2 days ago
by Mrs Valerie Gibson

5 stars

HiFX have made money transfers easy …

HiFX have made money transfers as easy and quick as possible. I have been using their services for 7 years now and have never had any problems. Always...Read more

HiFX have made money transfers as easy and quick as possible. I have been using their services for 7 years now and have never had any problems. Always helpful. I would not hesitate to recommend them.

3 days ago
by Peter L.

5 stars

Absolutely first class

Absolutely first class. No fuss. No drama. Have used hifx several times in the past. 5 star service as always.

3 days ago
by Timothy

5 stars

Woooshhhhhhh...,,

So fast and easy to use!

3 days ago
by PJ

5 stars

Easy to sign up, money arrived safely

HiFX was the third money transfer company I tried. The first couldn't deal with me wanting to send business money as a sole trader, the second said they...Read more

HiFX was the third money transfer company I tried. The first couldn't deal with me wanting to send business money as a sole trader, the second said they could but never sent the email with the details. I phoned HiFX, the person I talked to knew what he was talking about, told me what documents I had to supply and I was accepted first thing the following morning. The only minor quibble I had was that I paid them the money on a Friday and it wasn't actually sent until the Tuesday (they told me this when I signed up), but I'm guessing that keeping the funds for a few days is what lets them keep their price down. The recipient in Australia received it two days later, which is fine. I will be using them again next time I need to send money abroad.

3 days ago
by Rosly

5 stars

Brilliant Service

Brilliant Service, great rates, and doesn't cost anything for the transfer

3 days ago
by Richard lyons

5 stars

HiFx are just the best

HiFx are just the best, simple easy, I have used them for about 5years, never use or think about using any one else, just great.

3 days ago
by Ann

5 stars

Hifx Service

I have never had a problem with Hifx in the 5+ years I have used their services. Highly recommend for speedy and efficient money transfers and easy to use...Read more

I have never had a problem with Hifx in the 5+ years I have used their services. Highly recommend for speedy and efficient money transfers and easy to use website.


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




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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