Eileen´s profile

Reviews (1)

HiFX

Quick, safe and easy to use

I use the daily update to check the exchange rate and have used HIFX for several years. I compare the exchange rate with the one I get from My bank Nationwide to gauge value for money. I was surprised at the note at end of last contract a few days ago that warned that I may get charged by the receiving bank. When I signed up I was told that an advantage of using HIFX was there would be no charges by receiving bank which hugely contributed to my decision to use HIFX. If that has changed then I would like to have been informed.

06 March 2013

Reply from HiFX

Hi Eileen,

Thanks for taking the time to post your review.

As you know, we believe in making international transfers as cost effective and transparent as possible.

Whilst we always send the exact amount of money you specify in the transaction, the bank receiving your funds – or an intermediary bank - may deduct fees before making the payment.

Unfortunately we have no control over the charges levied by third party banks or foreign exchange providers.

You quite rightly say that we used to cover the fees the banks charged however, more and more banks both in the UK and overseas, are increasing their international banking fees and so, as I'm sure you'll understand, it's simply not possible for us to do this anymore (i.e cover the unnecessary charges other financial institutions levy).

Thanks once again for taking the time to post the review and if I can be of any further assistance please don't hesitate to contact me.

Kind regards,

Mark Bodega
Director - HiFX

Eileen´s profile

profile image of Eileen
Eileen
Reviewer
United Kingdom

About