HiFX Review

Top10 StaffByTop10 StaffSep. 15, 2019

In a Nutshell

HiFX transfers nearly $75 billion annually to over 170 countries in 60 currencies and has earned a reputation for great customer service. The company combines personal money transfer solutions with business-ready services that can help everyone from small boutique companies to enterprise firms that need to send thousands of payments at a time.

pros

  • No hidden fees
  • No monthly charges
  • Make transfers and manage account 24/7

cons

  • You have to create an account to make a transfer
  • Payments must be made by bank deposit

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What You Need to Know

Transfer fee: Approximately $12; no fees charged for transfers over $4,000

Transfer time: Up to 4 days

Transfer types:  Bank transfer, debit, or credit card

Daily transfer limit: $400,000

24/7 support: No

HiFX Fees and Rates

HiFX doesn’t charge any fees for membership and the only transfer cost is a $12 fee for transfers under $4,000. The company makes its money off “playing the spread,” which is the difference between the prices of currencies that it buys and sells. The company promises exchange rates that are better than the average bank due to the high volume of exchanges they carry out.

That said,this doesn’t include the cost of transferring the funds to HiFX or charges incurred when the funds are exchanged to a different currency at the destination.

How Does It Work?

Transferring money and having bills can be stressful, but HiFX makes the process quick and easy to follow:

  • Sign up for a personal or business account
  • Provide any necessary documents for identification
  • Log in to account
  • Confirm currencies to exchange
  • Enter amount to exchange and destination and confirm
  • Agree to exchange rate and total cost

After completing these steps you will receive an email from HiFX when the company receives your funds and when your payment is sent by the company. HiFX says to wait 1-4 working days for the beneficiary bank to credit the funds to the destination account.

Top Highlights

  • Transfers can be made 24/7
  • Transfers protected by Norton online security
  • At least 60 currencies transferred
  • Payment by bank transfer, debit, or credit card
  • Transfers can be made on mobile devices
  • Ability to send thousands of payments in a single file upload
  • “Strategic Partnerships” available for businesses to help make payments easier

HiFX HiFX Visit Site

Customer Support

HiFX does not run a 24/7 customer service phone line or a live chat on its website. Customers can call the helpline during regular business hours, or contact the company by email. In addition, the website has an extensive FAQ section and a very informative blog.

Bottom Line

HiFX makes transferring money internationally easy, and can work with more than 60 currencies to well over 100 countries across the globe. There are no hidden fees and the company doesn’t charge for membership. The transfers are also kept secure and you can make them 24/7 from any mobile device. In addition, HiFX works well with companies large and small, and can be set up to send thousands of payments at the same time.

Top10 StaffByTop10 StaffJun. 27, 2019
Our editorial staff is comprised of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right money transfer service for your needs.
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