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Reviews (1)

HiFX

Convenient, quick way to send money abroad.

I used to use my bank. There was a lot of security hassle, and it was slow. Originally I could only do it by fax and a,number of those never arrived. You can imagine that caused all sorts of delays. More recently they did it over the phone but it wasn't nearly as convenient as HiFx. I do and it's done. Quickly . No hassle no quibble. The only problem I have is there is a fee. Then my bank abroad takes a fee and there is an intermediary fee from another bankers it passes through that bank to mine. If there is an advantage in the rate with HiFx then it is well.and truly lost with each bank taking a cut. I feel sometimes the poor punter is always the loser. I will still use HiFx however as its the best around

09 August 2013

Reply from HiFX

Dear Gavin

Thanks for taking the time to post your review - it's much appreciated.

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.

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).

It's frustrating I know and believe me if we could change things we would! 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

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Gavin
Reviewer
United Kingdom

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