Halewood International Foreign Exchange Limited, more commonly known as HiFX, is one of the pioneers in P2P money transfer business. They are quite well-known around the world for their amazing customer service that they have been providing for the last 20 years. HiFX was founded by Shaun Taylor, Matthew Knowles, and Laurence Butcher in 1998. They are a game changer in providing the cheapest option for fund transfers around the world. Their services has reached more than 170 countries, and they can make transactions in over 142 currencies. Just a few years ago, they merged with the prestigious Euronet Group. They also specialize in providing other money transfer solutions to individuals and businesses. Just by looking at their score of 9.4/10 on Trustpilot, we can easily see that they provide amazing service to their customers. Here I will review HiFX, their services, and I will give you a better understanding of each aspect of the company.
Making fund transfers with HiFX
Sending money with HiFX is very convenient and fast. All you need is to register an online account by filling in the necessary details. But to get your account verified, you need to submit some proof of identity. Through these simple steps you can transfer your money as soon as your account is verified:
- Pick the type of transaction you are going to make.
- Select the currency and amount
- Fill in the details for the sender and the recipient
- Carefully fill in the bank details of the receiver and check once before submitting.
- Choose from any of the methods of payment and pay for the transfer.
Now, your transfer is done and you will be notified by HiFX about the status of your transfer.
Is HiFX Safe?
In my research, I couldn’t find any good reasons to not trust HiFX for any financial transactions. They are a part of Euronet Group now which is a very reliable name in money management. Their customers have shown their trust and loyalty in HiFX through their reviews on Trustpilot. As much as 87% of the reviewers have rated them as “Excellent”. The company’s primary focus is to ensure safety for their customers’ money. This is why they keep customers’ funds in a separate account from the company’s own funds. They have also added an advanced encryption to their website to protect users’ details and their money. They have acquired a license from the FCA and HMRC to make international payment transfers. Thousands of customers and businesses trust their money to HiFX due to these safety features.
How much will a transfer with HiFX cost you?
HiFX ensures that you pay minimum while transferring your money. They have zero transfer fees, and they also offer great exchange rates. Even then, there may be some additional costs involved. If you pay with your credit card, you will be charged a transaction fee. Also, some banks charge money to receive payments. If you pay directly with your bank account and get the money transferred to a bank where they don’t charge money for receiving, you can totally skip all these charges. This way, you can make a transfer without spending any money. You can imagine how much money you can save yearly without fees.
How is HiFX Better?
- You can send your money to almost anywhere with their large network that spans 170 countries.
- Due to their fast services, your payment will usually reach its destination in a day .
- Customers are highly satisfied with their performance for the last 20 years.
- Every customer’s issues are handled by a qualified team of customer support specialists.
- They offer convenient payment options like credit cards, debit cards, and bank account transfer.
- Customers are provided with updates of their transfer via SMS or email.
The Flaws I Observed in HiFX
So far, I am truly amazed with HiFX, but I can’t ignore some facts that failed to impress me. Here are a few of them:
- Exchange Rates – While HiFX exchange rates are okay, but they are nowhere near the best in the business.
- No option for cash pick-up – Unlike other big money transfer services, HiFX doesn’t have any brick-and-mortars to deposit or pick-up cash for money transfers.
So far, I am really impressed with HiFX, and you should try it. There are already so many customer reviews that support my opinion. Almost every customer praises their economical pricing, great customer experience, and smooth transaction. HiFX has been featured multiple times in prominent publications like The Daily Telegraph, The Sunday Times, and The Guardian. All with positive reviews! They have also acquired a strong financial foothold after becoming a part of Euronet Group. When compared to the all of the newly established fund transfer companies, HiFX gives you trust and stability with its presence in the business for 20 years. It gives HiFX a certain edge over the others.