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. 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. Their services are highly appreciated by the customers, earning them a score of 9.4 out of 10 on TrustPilot. This article is focused on the HiFX review and their services in order to give you a better view of the company.
Get started with HiFX
A customer can transfer a payment with HiFX by registering a free online account. The registration process is very simple; you just have to submit your details and proof of identification for verification. Make your account and follow these to make a transaction:
- Select your currency
- Total amount to be sent
- The required details of the sender
- Complete details of the recipient and their account’s details
When all the details are entered, then you make the payment. An instant confirmation email is sent by HiFX as soon as the transfer is processed. You will also receive interim updates over SMS.
Is HiFX trustworthy?
HiFX has a license to operate by the Federal Conduct Authority to carry out financial transactions around the world. They are also authorized by Her Majesty’s Revenue and Customs to operate in the UK. As per the defined regulations, they keep the company’s funds separate from the customers’ fund. That way, your money is always safely held, even in a crisis. A high-end encryption system protects their website against any misuse of the customer’s details entered during the transaction. The customers find their services very reliable, and they trust HiFX for all of their international transactions.
How much will a transfer with HiFX cost you?
If you are wondering which service provider charges the least, you will be interested to know that HiFX charges nothing for fund transfers. They also offer very impressive exchange rates. But in the case of a payment made with a credit card, that fee would be applicable. But it’s not a secret that you can find a better exchange rate with some other service providers. You will notice a big difference in the amount received by the recipient if the exchange rates are poor. If the exchange rates are lower, you will receive less money in the end. HiFX has managed to become their customers’ favorite service by having zero fees. But without a better exchange rate, they won’t have the best deal for all exchanges. Even a small difference in the rates can make a tremendous difference. In that case, even offering zero transfer fee will not make much of a difference to its potential customers.
Some Positive Aspects of HiFX
There are some characteristics of this service provider that makes it a customer favorite. It is a big organization with business in over 170 countries. Despite operating on such a big scale, they have excellent customer service. They have a great team of customer support staff who make sure that all of your issues are solved. They also have amazing speed; most of their transfers are finished in about one day! Even in the cases of complicated transactions, the money gets delivered in maximum 4 business days. This is much faster than banks who can take up to 10 business days to process your transfer. They also provide very convenient modes of payments like credit cards, debit cards, or with a bank account.
Areas of improvement for HiFX
It’s rather difficult to find flaws in HiFX, but I observed some limitations in their services. The most important one is their exchange rates. The rates they are offering now are okay, but there are other services that are providing better. For a customer, the exchange rate plays a very important role; it directly impacts the amount of money received by the recipient. Also, HiFX makes all their transfers directly to the recipient’s bank account. Unlike many other service providers, there are no options to personally collect the money.
HiFX final thoughts
HiFX is undoubtedly one of the best fund transfer services available. For any customer they are the complete package. But this doesn’t mean that they are perfect. The competition is severe in the business and companies are coming up with better options every day. Customers will always select the service which is cheapest for them. It is a fact that there are certain companies who are offering the same services with a smaller overall cost. But HiFX is a favorite for many of its customers; they seem to be completely loyal to them. The quality of their service is very good, and they have managed to keep their customers satisfied over the years. They also cater to many businesses to create specially-designed payment transfer solutions. HiFX holds an extremely clean track record I would definitely recommend it.