What is XE trade fees? Do we have to pay fees while transferring money abroad in a different currency?
Money transfer is a simple yet important aspect of some people’s life. People send money to their families abroad as part of a personal matter. Or they do it as part of their business life.
The whole set up of money transfer is pretty easy and simple, especially if someone transfers the money to other people that live in the same country.
But what if they require transferring the money to someone who lives abroad and uses a different currency?
XE Trade Fees – Transfer Money Abroad
Sending money abroad can be a little complicated because there are additional factors to consider such as the value of the currency, the transfer options, and the best place to transfer the money, and other factors.
Transferring money through a local bank is the first thing that people have in mind. But there are other options out there that provide the same service as well such as the one that comes from XE Trade.
XE Trade is a place where people can transfer money abroad easily. They specialize in providing money transfer services to various countries around the world.
XE Trade Fees – Transferring Fees
What makes XE Trade is worth considering is because it’s the XE Trade Fees rule.
What does it mean? Everyone knows that when they use a service like this, they have to pay the fee. But it is pretty different from XE Trade because they basically don’t charge any commission or transaction fee to people who use their service.
How is that possible? They use the spread concept, where they actually make money from the small difference between the price they quote for the transaction and the actual cost of it.
Once again, there are no XE Trade Fees that people must pay for the transaction they make. This meaning there is no charge for:
- Maintenance fee or ongoing account fee
- Additional commissions or per transactions fee
XE Trade also does not require a minimum transfer amount for every transaction, which means there is no standard that people must fulfill just to be able to transfer the money.
But, there is always a possibility that people must pay for charges or fees for specific reasons such as third-party charges and additional fees due to user error.
Any fee that people must pay such as the fee for Wire Transfer will be stated upfront. So people will be ready for it. Other than that, there are no XE Trade fees that people must pay, and that what makes their service is appealing.
The whole process of a money transfer using the XE Trade service is pretty simple. It only requires three steps:
- Order money transfer by select the transfer options, the beneficiary and the currency rate
- Send the money through different options such as BACS, Wire Transfer, ACH and others
- The money will be converted and delivered to the beneficiary
That’s it and the process is complete. The whole process of sending and receiving money may take several days. At the end of the process, the sender will receive a notification email that the money has been sent to the recipient.
It’s easy, simple, and also basically free, and that is exactly what satisfies people. So, they are no XE Trade fees for using this service.