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Reviews (1)

HiFX

Transaction charges caught me out

I had not used HI FX for a while and need to transfer some money in Euros quickly. I was very disapointed to find that there are now transaction charges.

I did not have time to set up a new account but will probably just go back to my bank as they are just the same now.

Shame really...

06 March 2013

Reply from HiFX

Dear William,

Thanks for taking the time to post your review.

As you quite rightly say there is a £9 fee for transfers of £3,000 and below (no fees for transactions above £3,000).

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).

To ensure we continue to offer great value for money (including banking charges, exchange rates and other fees), every couple of weeks we get an independent research company called DQM to check all the main high street bank/building society exchange rates.

As a result, HiFX has a hard earned reputation for providing excellent value for money, complete peace of mind AND great customer service if and when you need it. It's this mix which we believe, makes us unique and why we've transferred over £100 billion on behalf of both business and personal customers.

We're not complacent by any means and we're constantly looking at new ways of improving the services we offer in the future so watch this space, but as i said when it comes to offering value for money, complete peace of mind and the best security in the industry we honestly believe we offer a unique service.

Thanks once again for choosing HiFX and for your feedback. Please don't hesitate to contact me directly if you have any further questions.

Kind regards,

Mark Bodega
Director - HiFX

William´s profile

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William
Reviewer
United Kingdom

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