Rafael´s profile

Reviews (1)

HiFX

Will use someone else if I can

Used to be better, but not now. Just found out that 20 usd were taken off each payment to BOA credit card account over the past four months (and that's on top of the fee hifx take). Hifx should really tell you if a fee is being taken - even if by someone else. Will start using someone else who has a more transparent policy.

02 April 2013

Reply from HiFX

Dear Rafael,

Thanks for taking the time to post a review.

As you rightly say the fees you've incurred were charged either by your bank in the US or an intermediary bank and not us.

I've just checked the website and we try to make it clear that 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. In fact 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. 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).

Before you make your next transfer, I'd suggest you have a chat with BOA to see whether you could avoid the credit card fees by choosing a different method e.g. electronic transfer, debit card etc.

Thanks once again for taking the time to give us your feedback - it's greatly appreciated.

Kind regards,

Mark Bodega
Director – HiFX.

Rafael´s profile

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Rafael
Reviewer
United Kingdom

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