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xendpay review
  • Editor Rating

  • Rated 3.5 stars
£1,000 to £1000000
  • 70%

  • Xendpay Review
  • Reviewed by:
  • Published on:
  • Last modified: June 13, 2016
  • Exchange Rates
    Editor: 71%
  • Website Friendly
    Editor: 70%
  • Customer Service
    Editor: 68%
  • Overall
    Editor: 71%

Xendpay Review

Launched by Rajesh Agawat in September 2011, Xendpay began as an online money transfer platform on RationalFX  with the aim to reduce the costs of money transfer.  In May 2012, Xendpay was founded as an independent company, opening to wider market in August 2012.

In November 2014, Agrawal relaunched Xendpay as a company with a social purpose, doing away with exchange rate mark ups and fixed transaction fees (the two traditional profit mechanisms in the industry) from the service. Customers are instead invited to pay an optional service fee. Agrawal revealed in October 2015 that, one year on, the model was working, with 70% choosing to pay the optional fee and six percent paying more than the recommended amount.



The Xendpay relaunch was made as a Clinton Global Initiative pledge, with a commitment to save users £60 million over five years. The company has been recognised by the United Nations and in the UK parliament for its commitment to reducing remittance costs. Headquartered in UK with offices in France and Spain, Xendpay can transfer to almost any place in the world..

Xendpay boldly promises the world’s cheapest transfers, providing free, fair fast transfers with no exchange mark-ups or compulsory fees. Clients are invited to pay what they wish for Xendpay’s services. Xendpay stresses that its service is good for the pocket and good for the community.


Spot transfers with pay what you want fee

iPhone App

Monthly Xendpay £200 bonus raffle prize enter for each transfer client.

Transfers to 173 countries

48 currencies available

2968 Currency Pairs available

Savings for sender and receiver as well as community

Methods of transfer/ Fees:

Debit card– free in Eurozone

2.6% of payment amount charges in all other countries.

Credit Card– 1.7% of payment amount in Eurozone.

2.6% of payment amount in all other countries

SOFORT- Available in Europe- £1.50/EU 2 –available for amounts under 10,000 Euro


Ultra-simple, site with currency calculator cheap rates are ‘proven’ by contrasting Xendpay rates with bank rates. The image of birds in flight fuses well with the idea of a service of sending money abroad from immigrants’ country to home. .A bonus raffle is promoted which gives each transfer the opportunity to win £200, suggesting that this prize will also serve community, by returning a matching amount ( profit) to the company, in order to support the prize. A video promoting Xendpay features strongly on the homepage: a cartoon rocket blasts off ‘on a mission’ to help people all over the world and reports success when its transferred over $5 billion and helped 1,00’s of people in 190 countries to ‘save big’. This is the crux of Xendpay’s branding and self -promotion- being a force for good. The video concludes by asking clients to become heroes, stating ‘we need heroes like you to spread the word (promote us for the greater good of the planet!).

Review Centre rates Xendpay 2.1 out of 5 with 27% customer satisfaction. 17 out of  26 reviewers  complained of appalling service after waiting for 11-17 days for transfers that had been promised in 1-2 days. Many had transferred funds to assist with family emergencies and in each case the hapless clients phoned and emailed daily without hearing any response from Xendpay customer service. Another reviewer found his transfer from Europe to Brazil was processed at 9.3% less than that day’s bank rate of exchange.

TRUSTPILOT rates Xendpay 7.8 out of 10 with 1272 reviews. The problems that occur with Xendpay are consistently regarding slow service exacerbated by a lack of customer service to give clients peace of mind as to where their missing funds are. 3 weeks passed while a client was unable to get reliable, trustworthy information about when the funds would be delivered.

Editor’s Review:

Xendpay claim its absolutely the cheapest but when they’ve been compared  with CurrencyFair, Xendpay cost €30 more for the same amount transferred. Azimo also beat Xendpay’s rate- so the claim of being altruistic and not charging anything for the service isn’t valid.

Complaints about speed of service often point to ‘getting what you pay for’. In fact, they’d have better service and pay less elsewhere.

True, money transfers are important for the global economy and hidden fees or lack of transparency result in profits for banks, but Xendpay isn’t running a charity service-they’re a for-profit platform that’s evolved out of RationalFX.

3.5 out of 5 stars for not giving the best rates or the best service.



Quick Spot trade transfers for small amounts


No recurring payments available. Also, Xendpay doesn’t actually transfer at the mid-market interbank rate- they do have a commission in spite of their insistence that they don’t.