In a Nutshell
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
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
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.
