Halewood International Foreign Exchange Limited, or HiFX, is a successful P2P money transfer business. The spotless record of their performance in the last 20 years has earned them a name that is trusted and valued by millions of customers. In 1998, three visionaries named Shaun Taylor, Matthew Knowles, and Laurence Butcher established the company. Their primary focus is offering a cheaper and more reliable means of international fund transfers. Today they transfer money to over 170 countries in more than 142 currencies. The company became a part of the prestigious Euronet Group in 2014. Apart from personal money transfers, they also serve many businesses and their unique needs. Just by looking at their score of 9.4/10 on Trustpilot, we can easily see that they provide amazing service to their customers. This article is focused on the HiFX review and their services in order to give you a better view of the company.
How does HiFX work?
As mentioned earlier, HiFX is a purely online company, and you can make transfers through their website only. To register for an account you have to fill in your personal details and submit a scan of proof of your identity. This document is required to verify your account in order to ensure a safe and smooth transaction. When your account is verified, you can make your transfer anytime you wish. To start a transfer, login to your account and select the type of transaction you are going to make. You’ll need to fill in the amount you are going to send and also the amount of currency that will be received. Then submit the details of the person sending the payment and the one who will be receiving it. Always double check everything before submitting. Once that’s done, you can proceed to pay for the transfer. The money will reach the recipient in 1-2 business days.
Is Your Money Safe with HiFX?
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. To make sure that the customer’s money remains safe at all times, they keep it separate from the company’s monies. They have also added an advanced encryption to their website to protect users’ details and their money. They are authorized and regulated by Her Majesty’s Revenue and Customs and the Federal Conduct Authority to process international fund transfers. Thousands of customers and businesses trust their money to HiFX due to these safety features.
HiFX’s Transfer fees
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. Along with that, the recipient’s bank may deduct some amount as their fee. But you can easily get rid of these costs by paying directly from your bank account and selecting a bank where you don’t have to pay any money for receiving payments. This way, you can make a transfer without spending any money. You can imagine how much money you can save yearly without fees.
The Pros of HiFX
- You can send your money to almost anywhere with their large network that spans 170 countries.
- They offer fast fund transfers that usually take only one day (but may take up to 4 days in some cases).
- Over the years they have consistently received great customer reviews.
- They also provide excellent customer support with an amazing support team.
- They offer convenient payment options like credit cards, debit cards, and bank account transfer.
- Every customer gets regular updates about the status of his fund through text message or email.
Disadvantages of HiFX Services
Although HiFX is a great service provider for sending money internationally, there are few things which may be a deal breaker for you. 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.
After my research, I can safely say that HiFX is one of the best in the international money business. They offer everything a customer looks for in a service provider. It saves you time, money, and is very user-friendly. Their services are very prompt and you can count on them that your payment will be delivered by the promised time. Also, the fact that they are part of a large and trusted group fills you with a sense of trust when you hand over your money to them. If I had to sum up in just one word, I would call HiFX wonderful.”