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

14,248 customer reviews on HiFX on Trustpilot


02/05/2018
by Dena

5 stars

Great service

Great service. V knowledgable and efficient. No fees. V fast and straightforward transfer. Will always use them now.

02/05/2018
by Michael

5 stars

Service Review

Fast, efficient service – very easy to use the service and notifications when funds, received and dispatched.

02/05/2018
by Mr McLoughlin

4 stars

Hifx is easy to use and you get a good …

Hifx is easy to use and you get a good exchange rate, reliable.


More reviews

02/05/2018
by Janice

5 stars

Such patient and helpful people to help …

Such patient and helpful people to help you..........they are amazing and friendly as well as being good at what they do. I would advise anyone to give...Read more

Such patient and helpful people to help you..........they are amazing and friendly as well as being good at what they do. I would advise anyone to give them a try.........you will not be disappointed.

02/05/2018
by Brian

5 stars

Easy to use

Easy to use, good rates and a relaxed operation.

02/04/2018
by Andrew

5 stars

Fast and efficient

Fast and efficient. Pleasure to do business with

02/04/2018
by Vivien

5 stars

Everything is adequately with promptly …

Everything is adequately with promptly and professionally

02/04/2018
by Peter

5 stars

I have sent several transfers over a …

I have sent several transfers over a couple of years without any problems. Website is very easy and clear to use.

02/04/2018
by Michael Rich

4 stars

HiFX are always reliable

HiFX are always reliable, always helpful, always efficient and always the best. Why bother wasting time looking elsewhere!

02/04/2018
by Stephen

5 stars

Another satisfied customer

Easy, quick, efficient website. Funds were in my account next day.

02/04/2018
by Graham Reeve

5 stars

Easy

Easy, straightforward: excellent communicative and helpful customer service if needed.

02/04/2018
by Dennis Rowe

5 stars

I have been HiF for many years and they …

I have been HiF for many years and they are very reliable and efficient in dealing with my transactions as well as offering sound advice .I would...Read more

I have been HiF for many years and they are very reliable and efficient in dealing with my transactions as well as offering sound advice .I would recommend them to anyone .

02/04/2018
by Bryant

4 stars

Very efficient service and trouble free …

Very efficient service and trouble free -it is always causes some concern transferring sums of money to another continent -the recipient ,my grandson, was...Read more

Very efficient service and trouble free -it is always causes some concern transferring sums of money to another continent -the recipient ,my grandson, was delighted to receive the money within 2 hours of my asking for it to be sent.

02/04/2018
by Nicholas Taylor

5 stars

A great service

Now that I have my account set up it is very straightforward to send money overseas, even quite small amounts. There are no fees and the exchange rate is...Read more

Now that I have my account set up it is very straightforward to send money overseas, even quite small amounts. There are no fees and the exchange rate is better than with my bank. I win all round.

02/04/2018
by Jeronimo

5 stars

I recommended this firm their offer you …

I recommended this firm their offer you a very good service

02/03/2018
by Ann Saville

5 stars

Simple and quick

Quick easy no fuss

02/03/2018
by Christina Chetwynd

5 stars

I send money abroad regularly via HiFX

I send money abroad regularly via HiFX. It is very simple and quick Have never had problems doing so, and I will continue to use HiFX for all my...Read more

I send money abroad regularly via HiFX. It is very simple and quick Have never had problems doing so, and I will continue to use HiFX for all my international transfers.

02/03/2018
by Clive Garraway

4 stars

very clear and easy to use

very clear and easy to use, reliable and trustworthy

02/03/2018
by Karen

5 stars

Excellent reliable service

Excellent reliable service

02/03/2018
by David

5 stars

Needed to pay our golf subs in Spain …

Needed to pay our golf subs in Spain from England. Spanish Bank card would not do it. HiFX did it easily and a good price

02/03/2018
by Dominic

5 stars

My bank couldn't provide me with a …

My bank couldn't provide me with a simple way to pay a European company, but HiFX did, and it's so quick & easy to use! Thoroughly recommend HiFX for...Read more

My bank couldn't provide me with a simple way to pay a European company, but HiFX did, and it's so quick & easy to use! Thoroughly recommend HiFX for International money transfers.

02/03/2018
by SHARON

5 stars

Delighted I chose HiFX AND 10 years on I wouldn’t use any other company. First class company.

I have used HiFX now for almost 10 years. I was very cautious at first checking out all foreign exchange companies as I was purchasing a property in...Read more

I have used HiFX now for almost 10 years. I was very cautious at first checking out all foreign exchange companies as I was purchasing a property in Portugal so needed to make substantial transfers initially for the purchase and then regular transfers after that. I am delighted I decided to use HiFX. I have never had any problems, their online system is great, easy to use , they offer excellent rates and the service offered is second to none. The expertise and help from the staff has been important to me and I am always impressed whenever I have to contact them. I cannot speak highly enough about HiFX and I would recommend them to anyone. I would never consider using anyone else.

02/03/2018
by Gillian

5 stars

Can't beat 'em!!

I have already left reviews in the past about this service and, as I have already said, they are first class, recommended to me by a long standing friend,...Read more

I have already left reviews in the past about this service and, as I have already said, they are first class, recommended to me by a long standing friend, and would not consider any other company for my transfers abroad. Thank you team - brilliant!

02/03/2018
by Leon

5 stars

PERFECT

PERFECT Excellent 5*************

02/03/2018
by ANNE LLOYD

5 stars

REALLY HELPFUL WOULD ADVISE ANYONE TO …

REALLY HELPFUL WOULD ADVISE ANYONE TO USE THIS SERVICE

02/02/2018
by James

5 stars

I have used HIFX for 14 years initially …

I have used HIFX for 14 years initially whilst building a house in France and subsequently for our holiday living expenses. Rates always seem competitive...Read more

I have used HIFX for 14 years initially whilst building a house in France and subsequently for our holiday living expenses. Rates always seem competitive and transfers happen within 24 hours. Online transfers are easy and I shall continue to use them. PW

02/02/2018
by Mr Paul Hammond

5 stars

Great FX company

Easy to set up, and to use, and very good exchange rates too.

02/02/2018
by Keith Mousdale

5 stars

For 15 years we have used the services …

For 15 years we have used the services of HIFX and their service has been no less than excellent and recently when we suffered problems caused by our UK...Read more

For 15 years we have used the services of HIFX and their service has been no less than excellent and recently when we suffered problems caused by our UK bank, HIFX helped us resolve the matter at no cost to ourselves. Keith

02/02/2018
by David

5 stars

An excellent service with no hassle

An excellent service with no hassle. No matter if its just a small amount the service is first class. I would recommend this service to anyone wishing to...Read more

An excellent service with no hassle. No matter if its just a small amount the service is first class. I would recommend this service to anyone wishing to transfer money overseas. Much more competitive than using the services of your bank.

02/02/2018
by Mr Robert Green

5 stars

Simple and good value.

Good rates, no transaction fee and a very straight forward 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