Xe is a foreign exchange specialist with financial services that span the globe. Their headquarters are in Ontario, Canada and were founded in 1993. They have around 350 employees and the CEO is Mark Ledsham.
In this review of the Xe Currency Converter app we will focus on the currency conversion aspect of the company. The service allows you to exchange currencies between a wide array of options with competitive rates. Also, you can monitor the live exchange rate to determine the best time to make the exchange.
It’s possible to get the Xe Currency Converter app from the Google Play or Apple app platforms. The process of downloading and installing from each takes just a few minutes.
It’s possible to convert the currency and transfer funds to over 170 countries. In fact, you can send money in 65 currencies, which covers most of the ones available. Once the transfer is made, you can track it using the app.
In this section we will examine the Xe Currency Converter app functionality to determine if it’s competitive. You’ll find out what to expect when the app is launched for yourself.
User Interface: You’ll love the simple to use navigational menus that are intuitive. If you have been using other payment or currency conversion apps, then the Xe Currency Converter app will not have a high learning curve. The information is presented clearly so you can preview the currency conversion you’re about to make.
Speed and bugs: The app ran as expected while we tested. No glitches or unexpected crashes occurred. However, your experience may vary based on the smartphone used. For example, the app has a lower rating than on the Google Play store, which means you should expect a few more bugs than what the Apple users experience.
The process of sending money with the app from start to finish is simple and will take no more than a few minutes. Here is the step by step procedure that even the beginners among you can follow:
Step 1: Log into the XE app using the security steps you have chosen. It might be a fingerprint, password, or 2-factor verification such as an SMS message.
Step 2: Now you’ll need to enter recipient details such as their name, address and bank information. When sending money to the same recipient a 2nd time the details will be saved.
Step 3: enter the amount you want to send and review the conversion rate. You may want to wait for the conversion rate to improve before making large transfer.
Step 4: you can track the transfer progress in the app.
Executing a transfer with the Xe Currency Converter app will take 5-10 minutes if it’s your first time. You’ll need to learn the steps and what information is required for each type of transfer. However, once you learn the process, it can take just a few minutes to complete each transfer.
The time taken for the recipient to receive the money is the same as when using the desktop. When sending to a bank expect to wait 1-5 business days for the money to arrive.
The Xe Currency Converter app is only used for making transfers. Therefore, you don’t have the ability to load money to your account for future use.
Overall, the Xe Currency Converter app is solid, allowing you to exchange between 65 currencies when making a transfer. Furthermore, the app has a rating of 4.4 on the Apple app store and only 3.8 on the Google Play store. There is room for improvement on the latter to satisfy more of the customers. The ability to monitor conversion rates using detailed graphs is one of the strengths here that will help you make the right financial decisions.