Xendpay - Independent review

All you need to know before sending money with Xendpay

Excellent exchange rates Fair pricing system (pay what you want) Great customer reviews

7.80/10 Good
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Xendpay review by Monito

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 173 countries in 48 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 1-4 working days.


PROS
  • Xendpay exchange rates are excellent
  • Pay What You Want for transfer fees
  • Great reviews on Trustpilot
CONS
  • 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



Reviews powered by

3,620 customer reviews on Xendpay on Trustpilot


02/03/2018
by MOHAMED

4 stars

Fast and smooth payment but customer service to be improved

Fast and smooth payment. Very convenient to use the website and app. Customer service need improvement in terms of responding to requests. The responses...Read more

Fast and smooth payment. Very convenient to use the website and app. Customer service need improvement in terms of responding to requests. The responses are not always complete and supportive

01/30/2018
by Derek Buttivant

4 stars

Good service but fees are not consistent

Service quick and efficient and customer service, when needed, is readily available and very helpful. Only strange aspect is the fee-charging arrangement...Read more

Service quick and efficient and customer service, when needed, is readily available and very helpful. Only strange aspect is the fee-charging arrangement which can be confusing and, when applied, can make the service more expensive than the headline exchange rates suggest.

02/02/2018
by Stan

5 stars

Transaction went very well

Transaction went very well, I couldn't complain even if I wanted to! Will definitely use again.


More reviews

02/03/2018
by Alexandra

2 stars

Money not arrived yet

I transferred some money, the transaction is closed since the 29th of Jan but the money hasn't arrived yet on my other account... What can I do to locate...Read more

I transferred some money, the transaction is closed since the 29th of Jan but the money hasn't arrived yet on my other account... What can I do to locate the money? An employer of Xendpay told me that the transaction has been successfully processed but I can't see anything "from the success" if the money doesn't arrive... How long can it take until money will be transferred? More than 5 days after the process is closed? Can the process be rejected so that I get the money transferred to my other account or what else can be done? Looking forward to hearing from you

02/02/2018
by Chris

5 stars

Excellent service

Excellent service, money arrived next day.

02/02/2018
by Mark

5 stars

Ease of use

I found an article about this company on the BBC website. I made a transfer over the weekend and it reached another country on the next working day,...Read more

I found an article about this company on the BBC website. I made a transfer over the weekend and it reached another country on the next working day, Monday. Quite simple to use and no need to phone anyone or wait on the line to send the cash. I have not had to speak with anyone at this company at anytime so much more convenient than the old fashioned way I have been sending money. The other company I used charged 6 cents per £100, this company was around 0.5 of one cent, small charge to send so all seems good. Process is, you join, then list bank details of where you want to send cash, they email reference number and give you their bank details (xendpay), you transfer to their account, they confirm transaction by email. Once set up all is as quick as it could be at the moment.

02/02/2018
by ColinFisher

5 stars

A Great Exchange and Currency Transfer Service.

I’ve used Xendpay regularly to pay family bills in Scandinavia and have found their service to be cost effective, timely, simple to use and reliable.

02/02/2018
by Nigel Evison

2 stars

A shoddy service that fails on so many levels.

First transaction couldn't complete for some technical reason. After a couple of days they had it fixed and the payment went through without a...Read more

First transaction couldn't complete for some technical reason. After a couple of days they had it fixed and the payment went through without a hitch. Second payment wouldn't go through as beneficiary's swift code was not being accepted. Checked with beneficiary and swift code was correct but still wouldn't go through. Got in touch with Xendpay and at the end of the next work day got a reply asking for transaction number but as a transaction had not completed there was no number to give them. Then another day passes with no contact at all. This service is unreliable for business use. It just doesn't work and the customer care is shoddy at best. If you are a business and need reliable transfer of funds you'd be better off avoiding this company.

02/01/2018
by Anubhuti

5 stars

Excellent and fast service with minimum …

Excellent and fast service with minimum fees.

02/01/2018
by Girish

5 stars

Professional and Fast

I am using Xendpay for last two years but i must tell this time it was very professional and fast. I got my money within 2 days and i was updated...Read more

I am using Xendpay for last two years but i must tell this time it was very professional and fast. I got my money within 2 days and i was updated regularly on the status. Thank you

01/31/2018
by DHIRAJ

1 stars

Other sites are offering better …

Other sites are offering better transfer rates than xendpay. It requires 3 days for transfer while transferwise ia transferring in less than 2 hrs.

01/30/2018
by Dode

5 stars

Excellent

Easy to set up an account and much quicker than comparable companies out there.

01/30/2018
by Mr Wilson

5 stars

No problems

A fairly painless account setup. The verification of documents seemed to take a couple of days longer than advertised so I would bear that in mind for...Read more

A fairly painless account setup. The verification of documents seemed to take a couple of days longer than advertised so I would bear that in mind for anyone in a hurry! I set up the account to send USD to Cambodia for a holiday deposit. Cambodia seems to be a difficulty for some other internet transfer companies but this transaction with Xendpay went easily, apart from my credit card company blocking the payment until they had received confirmation from me. Better that than being scammed! Xendpay took 4 days to get the money to the recipients account, but this includes a weekend with a 7 hour time difference. All in all I am happy!

01/30/2018
by Fernando

5 stars

Great Service

Great Service, Thank You

01/30/2018
by Filip

5 stars

Cheap, fast and helpful!

Cheap, fast and very helpful on all fronts.

01/30/2018
by Sid

5 stars

Absolutely fantastic service

Absolutely fantastic service! Fast, efficient, and 100% transparency. Top tier customer support system. Exceeded expectations, definitely recommend.

01/29/2018
by Madhushree

4 stars

It would be good to have IDEAL patment …

It would be good to have IDEAL patment as a payment method and also transaction speed can be increased.

01/29/2018
by Srini

4 stars

Rate is low compare to Libera Money.

Rate is low compare to Libera Money.

01/29/2018
by Sharmila

5 stars

Quick delivery and great spreads

Quick delivery and great spreads

01/29/2018
by Eric

3 stars

transfer was ok but 5 pounds not refund

transfer was ok , but the promise of being refund 5L nor done

01/29/2018
by BW

5 stars

Excellent service

I had a slight hiccup with my account which was dealt with very efficiently. The actual transfer of monies went without a hitch and was very quick.

01/29/2018
by ARUNKUMAR

5 stars

Nice experience

Nice experience

01/29/2018
by Dilip

3 stars

Dissatisfied and frustrated with the last transaction...

Not flexible and customer service in name only -they lack basic understanding of the many possible difficulties customers face whist being abroad when...Read more

Not flexible and customer service in name only -they lack basic understanding of the many possible difficulties customers face whist being abroad when trying to make a money transfer via the internet. Despite being a customer for since 2014 and have a history of transactions on the account and being made around the same time - at the end of the year! There no excuse for letting customers down! Also, please do not boast that all transfers are done within 2 working days -that has yet to happen for me ? Hope you can improve fast if you want my business. Thank you D Patel

01/29/2018
by Manan

3 stars

Nice but still lot of improvments needed

Good in terms of rate and exchange. Need yo improvise UI. And add more types of payment gateway for Belgium

01/29/2018
by Hassan ali

1 stars

Even after 6 days the bloody payment is …

Even after 6 days the bloody payment is not received!!! An email said case is closed and money should be now in the bank account. Never using this rubbish...Read more

Even after 6 days the bloody payment is not received!!! An email said case is closed and money should be now in the bank account. Never using this rubbish exchange again!!

01/29/2018
by SUMIT

5 stars

very good service

very good service. excellent communication of customer care people . Nice team. quick transfer as compare to other services.

01/28/2018
by Sitanshu

5 stars

Excellent service

Excellent service!!! Best rate provided..will recommend to my other friends..

01/28/2018
by Wilhelm

2 stars

Why do you use CHAPS payments

Why do you use CHAPS payments? This caused a lot of issues with my bank.

01/28/2018
by Ewen MacMillan

5 stars

Excellent service 100% thank you

Excellent service 100% thank you

01/28/2018
by LD

3 stars

If there is a charge

If there is a charge, there should be no spread on the rate and it should be the market rate


Xendpay has great customer reviews on Trustpilot, with an average rating of 7.8 / 10. Here’s a summary of what over 1500 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
  • Some customers complain that transfers take too long to reach the recipient
  • Xendpay’s customer service was sometimes too slow to respond or provided generic responses


Can I trust Xendpay ?

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 70 people, and is headquartered in London with three other offices in Birmingham (United Kingdom), Lille (France) and Marbella (Spain). They have transacted over $8 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

 







How Xendpay works


  1. Create an account: Sign up for Xendpay in just a few moments. You can do this by connecting with your Facebook or Google account.
  2. 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.
  3. 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.
  4. 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.
  5. Money on its way: Your money is sent to the recipient’s bank account. You can track the transfer from the Xendpay dashboard.

 


Xendpay Exchange Rates and Fees

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. Finally, SOFORT payments cost a flat £1.50/€2.00 extra fee.


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.


 


 

Which documents will Xendpay require to verify my identity?

Xendpay has to verify your identity following the anti-money laundering procedures. You may be required to provide your passport number, a copy of an Identification Documents, a proof of your address and some information about the payment.

 

Identification Documents

It can be a Passport, National ID card or a Driver's Licence.

Proof of address

In order to verify your address, Xendpay will need a copy of a document from a reliable institution showing your name and your address. This document can be a Bank statement or utility bill, a local authority tax bill, correspondence from a regulated financial sector firm, confirmation from the electoral register, a Solicitor's letter confirming recent house purchase, NIHE, Council or private rent card, a tenancy agreement, benefit book or correspondence from benefits agency or correspondence from HM Revenue & Customs.

Proof of funds

You might also need to inform Xendpay about your relationship to the beneficiary (Family member, friend, supplier etc..) and the purpose of the transfer (family support, living expenses etc..).


Xendpay's Offices

 


United Kingdom

One Canada Square
Canary Wharf
London, E14 5AB
United Kingdom


 


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Key facts about Xendpay

Service information

Time to open an account A few minutes
Minimum amount -
Maximum amount -
Available languages
Français
English
Deutsch
Polski
Español
Personnal transfers Yes
Business customers Yes
Advanced currency contracts No
Required documents -

Company information

Type of service provider Online money transfer operators
Active since 2012
Headquarter London
Regulated by FCA

Contact information

Contact support -
Service hour -
Twitter @xendpay
Facebook xendpay
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