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All you need to know before sending money with Xendpay

How can you use Xendpay to send money abroad? Is their service reliable? Can you trust Xendpay with your money? How good are their fees and exchange rates?

    Our independent review of Xendpay

    Last updatedNovember 2018
    Written byLaurent Oberholzer

    Xendpay was founded by Indian migrant and ethical entrepreneur Rajesh Agrawal. The goal of the company is to make reduce the cost of international money transfers for the millions of migrants around the world who regularly send money home.

    What makes Xendpay’s money transfer service unique is their “pay what you want” model. Every year, for the first £2000 you send, you can choose what transfer fee 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 (including 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 1-3 working days.

    Xendpay

    What we like about Xendpay

    • Xendpay exchange rates are excellent

    • Pay What You Want for transfer fees

    • Great reviews on Trustpilot

    What we dislike about Xendpay

    • No Android mobile app

    • Xendpay can only send to bank account or mobile wallets

    • Pay What You Want model only applies up to the first £2000 sent

    Compare Xendpay's fees and exchange rates

    Country from
    United Kingdom
    Country to
    Select a country
    You send
    To

    How Xendpay works

    Create an account

    Sign up for Xendpay in just a few moments. You can do this by connecting with your Facebook or Google account.

    Set up a transfer

    Enter how much you're sending and where you’d like the money to be received. If you’ve sent money to them before, just pull up their details - Xendpay has held onto them for you.

    Pay What You Want

    Check out what you'll be saving by using Xendpay, and pay a fee which you think is fair. If you’ve sent more than £2000 with Xendpay, the transfer fee is no longer discretionary.

    Send the money

    Send your money to Xendpay with a local bank transfer or by paying with a debit or credit card. When 3rd party charges will be incurred, you’ll see exactly what you will have to pay and Xendpay will recommend a cheaper alternative where possible.

    Money on its way

    Your money is sent to the recipient’s bank account. You can track the transfer from the Xendpay dashboard.

    Fees & Exchange Rates

    Fees & Exchange Rates 3.4/10

    Bad

    Xendpay is rarely the cheapest option

    This indicator is based on the percentage of searches on Monito for which Xendpay is the cheapest provider

    0.6/5

    Xendpay fees and exchange rates are often competitive

    This indicator is based on the percentage of comparisons on Monito in which Xendpay offers a competitive pricing (taking into account the pay-in and pay-out options as well as the amount).

    1.8/5

    Xendpay doesn't offer special promotions to Monito users

    0/1

    Monito can access real-time pricing information from Xendpay

    1/1

    The points above are added to calculate the "Fees & Exchange Rates" score of Xendpay, who scores 3.4 points on a maximum of 10 points.

    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.

    Exchange rates

    Xendpay’s exchange rates are generally among the best, as confirmed by our research and many user reviews on Trustpilot.

    Other fees

    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.

    Country from
    United Kingdom
    Country to
    Select a country
    You send
    To

    Ease of Use

    Ease of Use 5.8/10

    Poor

    An average number of Monito users going to Xendpay end up making a transfer with them

    1/3

    Xendpay's homepage is clear and very easy to understand

    1.5/2

    It's very easy to open an account with Xendpay

    1.5/2

    Setting up your transfer is relatively straightforward

    1/2

    It's easy to sign up and make a transfer both on mobile and desktop

    0.8/1

    The points above are added to calculate the "Ease of Use" score of Xendpay, who scores 5.8 points on a maximum of 10 points.

    Credibility & Security

    Credibility & Security 6.5/10

    Average

    Xendpay is fully licensed and authorized

    2/2

    Xendpay has a good number of positive customer reviews

    1/2

    Only a small number of customers already use Xendpay

    0.5/2

    Xendpay employs a very large number of employees

    0.8/1

    Xendpay has already transferred at least 5 billion USD for their customers

    0.8/1

    Many articles from recognized newspapers mention Xendpay

    0.5/1

    Xendpay is part of Monito's network of trusted partners

    1/1

    Xendpay is a long-established company

    0.5/0.5

    The points above are added to calculate the "Credibility & Security" score of Xendpay, who scores 6.5 points on a maximum of 10 points.

    Xendpay is a part of the Rational Group, which was founded by Indian migrant Rajesh Agrawal and which specializes in foreign exchange and international payments. Xendpay’s money transfers are processed by another company in the group, RationalFX, of which Xendpay is an agent. RationalFX is a licensed Authorised Payment Institution, which means that they are regulated by the FCA (Financial Conduct Authority) and HMRC (Her Majesty's Revenue and Customs) in the United Kingdom. They offer institutional grade security for their platform, including 256-bit SSL encryption with a 2048-bit signature.

    As per FCA regulations, clients’ funds are held in segregated accounts, and are therefore kept completely separate from RationalFX’s own business accounts. This means that your money is safe should they have any financial difficulties.

    RationalFX employs over 100 people, and is headquartered in London with three other offices in Birmingham (United Kingdom), Lille (France) and Marbella (Spain). They have transacted over $10 billion since they were founded in 2005, and have been growing at 20% year on year for several years.

    Authorised by the UK Financial Conduct Authority (FCA) 
    Firm Reference : 583155

    Service & Coverage

    Service & Coverage 6.5/10

    Average

    Xendpay allows you to send money from an average number of countries

    1/2

    Xendpay allows you to send money to a lot of different countries

    1.5/2

    Xendpay is available in many different languages

    1/1

    It is possible to pay for your transfer by local bank transfer

    0.5/0.5

    It is possible to pay for your transfer by credit/debit card

    0.5/0.5

    Xendpay doesn't offer additional pay-in options

    0/0.5

    It is possible to send the money to your recipient's bank account

    0.5/0.5

    Xendpay doesn't offer a cash pick-up service

    0/0.5

    Xendpay can’t send money to a mobile phone (airtime top-up or mobile wallet)

    0/0.5

    Xendpay doesn't offer a bill payment service

    0/0.5

    Xendpay doesn't offer additional banking features

    0/0.5

    Xendpay doesn’t offer a multi-currency debit card

    0/0.5

    Xendpay offers guaranteed exchange rates

    0.5/0.5

    It is not possible to set up repeating transfers / standing orders

    0/0.5

    There is no minimum amount (or very low)

    0.5/0.5

    There is no maximum amount (or very high)

    0.5/0.5

    The points above are added to calculate the "Service & Coverage" score of Xendpay, who scores 6.5 points on a maximum of 10 points.

    Customer satisfaction

    Customer satisfaction 7/10

    Good

    Xendpay has a very high percentage of excellent customer reviews

    3.4/5

    Xendpay has a very low percentage of negative customer reviews

    2.1/2.5

    Xendpay has a good number of positive customer reviews

    1.5/2.5

    The points above are added to calculate the "Customer satisfaction" score of Xendpay, who scores 7 points on a maximum of 10 points.

    Xendpay has excellent customer reviews on Trustpilot. Here’s a summary of what customers have to say:

    Positive

    • 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

    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

    Customer support

    Customer support 7/10

    Good

    The FAQ and help center of Xendpay are easy to understand

    1.5/2

    Xendpay doesn't has any live chat

    0/2

    Xendpay offers email support (even to noncustomers)

    2/2

    Xendpay offers phone support (even to noncustomers)

    2/2

    It's relatively easy to get in contact with Xendpay

    0.5/1

    The FAQ and help center are translated in all languages

    1/1

    Monito cannot contact Xendpay on behalf of our users

    0/1

    The points above are added to calculate the "Customer support" score of Xendpay, who scores 7 points on a maximum of 10 points.

    Transparency

    Transparency 7.8/10

    Good

    The exchange rate margin makes up a significant share of the total cost of your transfer

    1.5/3

    It's very easy to understand the fees of Xendpay

    1.5/2

    Xendpay doesn’t charge a margin on the exchange rate

    2/2

    A real-time quote can be obtained without registering

    1/1

    Xendpay applies the same fees and exchange rates to all customers

    1/1

    The pricing information of Xendpay is made available to Monito

    0.8/1

    The points above are added to calculate the "Transparency" score of Xendpay, who scores 7.8 points on a maximum of 10 points.


    • Xendpay mobile app

      Xendpay offers a mobile app for iOS devices (iPhone, iPad, iPod, etc.).

      The Xendpay iOS app allows you to easily open an account, exchange and transfer money, and track your money transfers from anywhere and at any time.


    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 are 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.

    The story behind Xendpay

    Xendpay was founded in 2012 by Indian migrant Rajesh Agrawal, and his business partner Paresh Davdra. Rajesh was earning £50 a month working in India, until a job opportunity with a foreign exchange company brought him to London in 2001. Convinced of the huge potential to improve the way people send money abroad, he borrowed £20,000 from a bank (telling them it was to buy a car) and started a foreign exchange company, RationalFX.

    The company was the first to set up an online currency exchange platform in the UK, and quickly became very successful. Frustrated with the high costs he incurred when sending money back to India, Rajesh created Xendpay in 2011. By piggybacking on the existing infrastructure of RationalFX, Xendpay was designed to make migrant remittances as cheap and safe as possible.


    Monito compares money transfer services around the world, where are you sending money to?

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    • Why you can trust Monito's reviews

      Monito's mission is to help you (and thousands of others each day) find the best providers for your money transfers.

      We do that by providing real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writting in-depth reviews about money transfer providers.

      We have partnerships with many money transfer providers (Xendpay included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.

      We put a lot of efforts to review money transfer providers like Xendpay in details and based on objective and verifiable criteria. A good example of that is the in-depth User Experience Benchmark Study we conducted in August 2018.


    Compare Xendpay to 300+ other providers

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    Questions you may have

    Read our guides on sending money abroad