HiFX is a UK-based international money transfer service. Together with XE.com and Ria, this money transfer service is the third biggest money transfer operation in the world. These companies operate under the umbrella of Euronet Worldwide®. Among others, HiFX is authorized to offer money transfers by the FCA (Financial Conduct Authority) under the provisions listed by the Payments Service Regulations of 2009. The company is fully registered with HM Revenue and Customs. All client funds are protected with segregated accounts – separate accounts for clients and the company, as per regulatory requirements. Additionally, HiFX utilizes Norton security to protect its web servers.
International business payments with HiFX
As well as providing a service to private individuals, HiFX also have a corporate offering, which is used by over 6000 businesses in 100 industry sectors each year. Their online payments platform is simple to use and gives businesses of all sizes access to standard products like spots, forwards and market orders. They also offer a range of tools that are positioned to protect businesses from exchange rate fluctuations. Unlike other providers, HiFX are owned by a NASDAQ listed company (Euronet WorldWide Inc.), so your company’s money is always safe and depending on your exact requirements, they are able to provide credit facilities to accommodate for hedging.
How does HiFX work?
The 4-step process to getting started with HiFX requires clients to register, explain what services are required, send the funds, and track the progress of the transaction.
The 4 steps include the following:
- Sign up at HiFX via telephone or online. The process shouldn’t take more than a few minutes. HiFx meets the most modern standards of e-KYC, which makes the user verification and authorization process completely digital, excluding the need for paper document turnover.
- Ask for a quote online or via telephone. HiFX allows clients to target a specific exchange rate, or alternatively to make several payments. The FX trading professionals will work with clients to develop a tailored solution for you.
- Send the money to HiFX via telephone or online.
- Keep track of your money transfer. HiFX makes it possible to track the progress of your transaction via SMS, and email.
Who should use HiFX?
The services offered by HiFX can be used by individuals and businesses. If you’re looking to transfer money with this international money transfer service, you will join 100,000 other people who have already done so. The money transfer service runs 24/7. The company offers free personal accounts and free business accounts. To date, some 6,000 businesses have made international money transfers with HiFX. The company transfers money at competitive exchange rates and low transfer fees. HiFX charges no additional fee for receiving money or to foreign exchange transactions. It’s free to open an account and there are no monthly charges. Occasionally, charges may be applied by a third party bank as part of the transfer process but these fees are independent of the services offered by HiFX. This money transfer service is suited to different types of people including those trading in forward contracts, expatriates, small business owners, and rate alert traders.
Exchange Rate & Fees
When using HiFX, individuals and companies can expect the following bank-beating rates and transfer fees:
- £10,000 (as at Wednesday, 7 December 2016) is the equivalent of €11,733 with no fees.
By comparison, NatWest would offer you €11,481 with £30 fees, Barclays would offer €11,479 and £15 in fees, Lloyds Bank would offer €11,431 and £9.50 fees, HSBC would offer you €11,386 and £4 in fees, and PayPal would off you €11,346 and €395 in fees. HiFX can provide competitive exchange rates on any amount for international money transfer in under 3 minutes. The company offers quotes on 40 currencies, 24/7. The minimum transaction size is £50 and the maximum transaction size is £300,000.
Is HiFX safe and reliable?
HiFX is authorized to operate according to the FCA (Financial Conduct Authority). It is also secured by Norton – the same security used by 97 of the top 100 biggest banks in the world. The company operates under the umbrella of Euronet Worldwide ® – a global leader in international money transfers.
How Much Does It Cost to Use HiFX?
Whether you’re an individual or a business, you can open a free personal account or a free business account. Fees and exchange rates are dependent upon the amount of money you are transferring abroad, the currencies that you’re transferring and the exchange rate at the time of your currency transfer. HiFX makes its money on the difference between the buy and sell price of the currencies you’re transferring. That is known as the spread. HiFX charges no additional fee for receiving money or to foreign exchange transactions. It’s free to open an account and there are no monthly charges. Occasionally, charges may be applied by a third party bank as part of the transfer process but these fees are independent of the services offered by HiFX. These bank fees are independent of the services offered by HiFX.
How long does it take?
Most of the currency transfers will be completed within 1 business day. Payment is confirmed during the transaction flow. And this typically results in a money transfer on the same business day provided the funds are available. Payment notification is sent via SMS or email, and the recipient should receive the funds in 1 – 4 business days. If payments haven’t arrived within 4 business days, clients can contact HiFX at 01753-859-159.
HiFX Customer Support
Clients can contact customer support via telephone (+ 440-1753-859-159) and email ([email protected]). HiFX is also available via social media sites with G +, Twitter, Facebook and LinkedIn. The UK office is based in Bracknell, Berkshire, and office hours are from Monday through Friday 9 AM through 6 PM GMT. International offices are available in Spain, Australia, and New Zealand
A refer a friend bonus program is available to clients at HiFX. If you share details of this money transfer service with a friend, and that friend makes a transfer of £1,000 +, both you and your friend will receive £50 gift vouchers from Amazon.co.uk. Other important features at this money transfer service include no fees for larger transfers, and every month HiFX checks high Street banks transfer rates and exchange rates to ensure that their rates are better than the banks. Money transfer is possible anywhere in the world, direct through the website or telephone. This money transfer service is authorized by the Financial Conduct Authority (FCA). In total, HiFX has transferred £100 billion in over 120 countries around the world.
Client feedback has been exceptional, with 5/5-star rating from 11,033 independently verified reviewers on TrustPilot.
HiFX is the real McCoy when it comes to money transfers internationally. They serve clients around the world and are competent at managing amounts as little as £50-£300,000. The rates are exceptionally low and the spread is better than what you would get at High Street banks. Customer service is equipped to deal with all manner of queries, and clients can rest assured that it is fully licensed and regulated and operates under the umbrella of Euronet Worldwide®.