Xendpay Review: Money Transfer Fees, Safety, Usability, and Monito's Verdict

Byron Mühlberg, writer at
May 2, 2023
Affiliate disclosure
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As of the 28th of November 2023, Xendpay is no longer available for making international money transfers, as the company has shut down its service. This means you'll need to find an alternative. Compare the leading international money transfer providers for your next transfer abroad using our comparison engine below:

Xendpay is an average money transfer service (6.9/10) that Monito's experts seldom only sometimes recommend for sending money overseas, largely due to its comparatively high fees and exchange rates (4.4/10) that are often uncompetitive on Monito's comparison engine. Fees aside, however, Xendpay is a large transfer company with a long record of trust and service (8.7/10) and offers relatively easy-to-use web and mobile platforms (6.3/10) for sending money abroad. What's more, where Xendpay really shines is customer feedback (8.3/10), where many users have reported overwhelmingly positive experiences of the service.

What Monito Likes About Xendpay

  • A variety of pay-in options (incl. bank transfer and card payments);
  • The 'Pay what you want' feature allows users to pay a fee amount of their choice for the first £2000 sent;
  • Very accessible and available in many countries.

What Monito Dislikes About Xendpay

  • Only bank deposits and mobile wallet transfers are supported as receiving methods;
  • High fees and exchange rates are comparatively high.
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Because Xendpay is seldom the cheapest option, we only recommend the service where it's the single option to choose from besides banks and Paypal. In most instances, however, there's a cheaper alternative to be found, and we therefore recommend running a search on Monito's real-time comparison engine below instead:


Monito Score


🔒 Trust


18 thousand customers globally

✅ Service


Signing up takes time, but transferring is easy

💸 Pricing


Poor fees and exchange rates

👥 Customer


Very good consumer review ratings

Last updated: 27/06/2021

Is Xendpay Available in Your Country?


Trust & Credibility


Background check

Xendpay is duly authorised and licensed by the FCA in the UK and has obtained the legal right to operate in every other country in which it does business.

Security & reliability

Xendpay's website is fully secured and makes use of top-notch security protocols, including segregated user accounts, 128-bit encryption, and HTTPS.

Company size

Xendpay is trusted by around 18 thousand customers globally and handles some US$700 million in transfers on an annual basis.

Transparent pricing

Xendpay is partially transparent in its pricing, highlighting costs associated with the exchange rate, but not disclosing that they make up some 43% of total fees.

Can I Trust Xendpay?

Founded by Indian migrant Rajesh Agrawal in 2005, Xendpay is a part of the Rational Group and specializes in foreign exchange and international payments. As a matter of fact, Xendpay’s money transfers are processed by its sister company, RationalFX, of which Xendpay is an agent. RationalFX is a licensed Authorised Payment Institution, which means that they are regulated by the Financial Conduct Authority (FCA) and Her Majesty's Revenue and Customs (HMRC) in the United Kingdom.

Furthermore, Xendpay protects customer activity through institutional grade security for their platform, including 256-bit SSL encryption with a 2048-bit signature.

Is Xendpay Safe?

Yes, Xendpay is safe and secure indeed. As per FCA regulations, clients’ funds are held in segregated accounts and are kept completely separate from RationalFX’s own business accounts. As a customer, this means that your money is perfectly safe in the event that Xendpay or RationalFX run into any financial difficulties.

As of 2021, Xendpay employs around 50 people, while RationalFX employs over 100 people. Both companies are headquartered in London and have offices worldwide, from Birmingham, Lille, and Marbella in Europe to Singapore, Sydney, and Hong Kong further afield. To date, Xendpay has transacted well in excess of US$10 billion since they were founded in 2005 and had been growing at around 20% year-on-year for several years.

Service & Quality


Opening an account

Opening an account with Xendpay can sometimes be laborious due to the number of regulatory steps involved.

Making a transfer

Having successfully registered for Xendpay, making a new money transfer is a fast and straightforward process.

Contacting support

Finding help when needed is easy with Xendpay, although no live chat option is available.

Xendpay's Service Quality

Xendpay was founded with the goal of reducing the cost of international money transfers for the millions of migrants around the world, many of whom regularly send money home.

What makes Xendpay’s money transfer service unique is their 'Pay what you want' feature. Every year, for the first £2000 transferred, customers can choose what transfer fee they'd like to pay. When setting up your transfer, Xendpay will suggest a small transfer fee, however, you are completely free to pay less (or more), or even pay nothing at all!

Xendpay allows you to send money to over 200 countries in over 50 different currencies. The money is received on a bank account or, in certain countries such as Nigeria, Kenya, and the Philippines, the money can alternatively be delivered on a mobile wallet. You can pay by making a local bank transfer or by using a debit or credit card. The whole process of sending money with Xendpay usually takes one to three working days.

Additional Services

In addition to being useful for migrant workers, expats, students abroad, and overseas property owners, Xendpay also provides international payment solutions to business customers. If you're looking to make international payments for your business, Xendpay can help you to pay international suppliers and freelancers, pay salaries abroad, or transfer money to a foreign subsidiary.

Monito's Impressions During Our Test

Our reviewers found Xendpay's mobile app and web dashboard to be fash and understandable, but it lacked the slick design and clean user interface of many of its competitors, such as Wise and Paysend. The registration process included a large number of steps, and we found the user experience to be rather cluttered and filled with a lot of information and prompts. All in all, however, once we'd signed up, we found that making a money transfer was fast and easy, and Xendpay deserves praise especially for its 'Pay what you want' feature.

Xendpay Mobile App

Xendpay's mobile app is available on both iOS and Android devices and offers the full set of services from the online dashboard, including money transfers via bank transfer, SOFORT, and debit or credit card, account registration, and transfer tracking. As of July 2021, the Xendpay app had earned 3.5 stars on Google Play from fewer than 100 reviews and 4.3 out of 5 stars on the App Store from only 10 ratings, meaning app is not widely-used enough to accurately pin down consumer sentiment.

Fees & Exchange Rates


Transfers to a bank account

Sometimes competitive but seldom cheap.

Xendpay's Fees & Exchange Rates

While Xendpay's transfer fees and exchange rate margins are by themselves rather low, combined, they make sending money abroad comparatively expensive. Fees for sending money internationally with Xendpay can be broken down as follows:

Xendpay Transfer Fees

Xendpay’s unique 'Pay what you want' model means that you decide what transfer fee to pay. This feature is available for the first £2000 you send with Xendpay per year. Above that, Xendpay charges a low transfer fee which depends on the currency you’re sending to, in most cases 0.45% or 1.4% with a minimum fee.

Xendpay Exchange Rates

In addition to the transfer we we touched on above, Xendpay charges a highly variable exchange rate margin for many currencies. This fee — which is the difference between the mid-market exchange rate and the exchange rate offered to consumers by Xendpay — is expressed as a percentage of the total transaction and tends to fall between 0.05% and 0.2% of the transfer value, making it comparatively cheap.

Other Fees to Anticipate

If you’re sending to a mobile wallet, the fees are usually higher, and you might have to pay delivery fees on top of the transfer fees. Furthermore, if you’re paying with a credit card, you will incur payment fees of 1.7% if you’re in Europe and 2.6% elsewhere. Debit card payments are free in Europe and cost 2.6% elsewhere.

Compare fees & exchange rates:

Customer Satisfaction


Trustpilot reviews

4.2 stars from over 11,000 reviews.

Customer Reviews of Xendpay

Xendpay has excellent customer reviews all-round on Trustpilot, earning 4.5 out of 5 stars from around 10 thousand independent reviews. Here’s a summary of what many customers have had to say:

Positive Xendpay Reviews

  • Customers were very satisfied with how fast their money was delivered
  • Using Xendpay is an easy, uncomplicated and pleasant experience
  • Xendpay is a quick and easy way to send money
  • Customer service is friendly and helpful

Negative Xendpay Reviews

A small number of customers have had some recurring feedback (though we do see that Xendpay has generally responded to individual negative feedback in an effort to resolve the issues)

  • Some customers complain that transfers take too long
  • Xendpay’s customer service was occasionally too slow to respond

How Xendpay Works

  • Step 01

    Check Xendpay's Rates

    Use Monito's comparison engine to see how Xendpay’s fees and exchange rates weigh up against the rest and make sure they are indeed the cheapest option for your international money transfer. There, you'll be able to discover both the cheapest ways to fund your transfer and have the money received.

  • Step 02

    Register for a Xendpay Account

    Sign up for Xendpay by entering your full name, email address, and the country from which you'd like to send money internationally. Enter a password and click forward to register.

  • Step 03

    Set-up Your Transfer

    To set up your transfer with Xendpay, you will be required to choose your recipient's country, the receiving currency, and the delivery method (e.g. bank deposit, mobile wallet)

  • Step 04

    Add Your Beneficiary

    Further down the page, you'll be required to enter your beneficiary's personal and banking details, including their full name and bank account number. Optionally, you'll also be able to enter their email address to keep them up to date on the status of the transfer, as well as a payment reference.

  • Step 05

    Finalize Your Transfer

    At the bottom of the page, you'll be able to choose how much money you'd like to send and specify your payment method. Xendpay will present the exchange rate you'll pay, the fixed fee, the receiving amount, and the total amount to be paid, including fees.

  • Final step

    Review and Pay

    In the final step at the very bottom of the page, you'll be asked to select the purpose of your money transfer (e.g. gift, investment, travel expense, etc.) and then provide your card details. By clicking 'Send money,' you will instruct the money transfer to the destination you specified above.

    Go To Xendpay

FAQ About Xendpay

Global Impact Finance Ltd
Rue du Pont 22
1003 Lausanne

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