Overview
XTransfer, at a glance.
XTransfer is a payment company licensed in hong kong, the uk, the netherlands, singapore and australia headquartered in Hong Kong, regulated by Customs and Excise Department, FCA, DNB and 2 other regulators. The company behind XTransfer is XTRANSFER LIMITED. The business account has no monthly fee. Opening an account takes from 1 day.
XTransfer is not a bank. It says client funds are fully segregated and that it works with banks including J.P. Morgan, Deutsche Bank, DBS and Bank of China to safeguard them; it publishes nothing more on how the money is safeguarded. The receiving accounts are sub-accounts XTransfer opens at partner banks, not accounts you hold with those banks.
Why businesses pick XTransfer
- Free to open and keep, and incoming payments from bank accounts in 200+ countries are free
- Receiving accounts in your company's name at DBS, J.P. Morgan, OCBC, Citibank, Deutsche Bank and Banking Circle, plus local accounts in about 60 countries
- Receive 29 currencies, including BRL, MXN, KES and other emerging-market currencies, and pay out in 41
- Payouts from US$2, and CNY settlement to Chinese suppliers at 0.4%
- Market orders around the clock and limit orders at a target rate for up to 7 days, with no separate conversion fee
- Free, instant transfers between XTransfer accounts, and live chat 24/7
- Business verification in as little as one day
Watch out for
- The margin inside the exchange rate is not published, and conversion is into HKD, USD, CNY and EUR only
- Only for companies in cross-border trade: collections must be for goods or services, and XTransfer can ask for trade documents
- Payments to or from Iran, North Korea, Syria, Cuba, Russia, Belarus, Myanmar, Iraq, Cambodia, Kyrgyzstan, Tajikistan, Armenia and the occupied regions of Ukraine are banned
- No forward contracts and no cards
- Which XTransfer company signs your contract is not published; the public user agreement is with Xtransfer Limited in Hong Kong, under Hong Kong law
- Payments XTransfer treats as high-risk are returned, at a cost of about US$50
Business fit
Will XTransfer accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on XTransfer's published rules
Likely fit
XTransfer lists both United Kingdom companies and Importers and exporters of physical goods (B2B cross-border trade) as accepted.
XTransfer does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What XTransfer publishes about the businesses it takes on.
Who XTransfer serves
- Import and export
- Startups and SMEs
All 4 industries on XTransfer's accepted list
- Importers and exporters of physical goods (B2B cross-border trade)
- Companies paying Chinese suppliers
- Service trade (import or export of services)
- Sole proprietors / SOHO traders
Not supported
Industries and countries XTransfer does not accept, from its own published lists.
Industries
- Not published
Countries
- China · company
- Iran · company
- North Korea · company
- Syria · company
- Cuba · company
- Russia · company
- Belarus · company
- Myanmar (Burma) · company
- Iraq · company
- Cambodia · company
- Kyrgyzstan · company
- Tajikistan · company
- Armenia · company
Coverage
Where can you use XTransfer?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
29 currencies to receive
Receive · 29 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- BRL
- CDF
- CLP
- CNY
- COP
- DKK
- HKD
- IDR
- KES
- MXN
- NOK
- NZD
- PEN
- RWF
- SEK
- SGD
- TZS
- UGX
- XAF
- XOF
- ZAR
- ZMW
Pay out · 41 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- ARS
- BND
- BOB
- CLP
- CNY
- COP
- CZK
- DOP
- GEL
- GMD
- HKD
- HUF
- IDR
- ILS
- INR
- KES
- KRW
- LKR
- MNT
- MYR
- NGN
- NOK
- NPR
- NZD
- PHP
- PLN
- RON
- SAR
- SEK
- SGD
- THB
- TRY
- VND
From XTransfer's fee table for payments to another business's bank account
Balances are held in 15+ currencies. Exchange is into HKD, USD, CNY and EUR only.
Payment reach
Not published
Who can apply
Company incorporation countries237 countries · show list
- Afghanistan
- Åland Islands
- Albania
- Algeria
- American Samoa
- Andorra
- Angola
- Anguilla
- Antarctica
- Antigua & Barbuda
- Argentina
- Aruba
- Australia
- Austria
- Azerbaijan
- Bahamas
- Bahrain
- Bangladesh
- Barbados
- Belgium
- Belize
- Benin
- Bermuda
- Bhutan
- Bolivia
- Bosnia & Herzegovina
- Botswana
- Bouvet Island
- Brazil
- British Indian Ocean Territory
- British Virgin Islands
- Brunei
- Bulgaria
- Burkina Faso
- Burundi
- Cameroon
- Canada
- Cape Verde
- Caribbean Netherlands
- Cayman Islands
- Central African Republic
- Chad
- Chile
- Christmas Island
- Cocos (Keeling) Islands
- Colombia
- Comoros
- Congo - Brazzaville
- Congo - Kinshasa
- Cook Islands
- Costa Rica
- Côte d’Ivoire
- Croatia
- Curaçao
- Cyprus
- Czechia
- Denmark
- Djibouti
- Dominica
- Dominican Republic
- Ecuador
- Egypt
- El Salvador
- Equatorial Guinea
- Eritrea
- Estonia
- Eswatini
- Ethiopia
- Falkland Islands
- Faroe Islands
- Fiji
- Finland
- France
- French Guiana
- French Polynesia
- French Southern Territories
- Gabon
- Gambia
- Georgia
- Germany
- Ghana
- Gibraltar
- Greece
- Greenland
- Grenada
- Guadeloupe
- Guam
- Guatemala
- Guernsey
- Guinea
- Guinea-Bissau
- Guyana
- Haiti
- Heard & McDonald Islands
- Honduras
- Hong Kong SAR China
- Hungary
- Iceland
- India
- Indonesia
- Ireland
- Isle of Man
- Israel
- Italy
- Jamaica
- Japan
- Jersey
- Jordan
- Kazakhstan
- Kenya
- Kiribati
- Kosovo
- Kuwait
- Laos
- Latvia
- Lebanon
- Lesotho
- Liberia
- Libya
- Liechtenstein
- Lithuania
- Luxembourg
- Macao SAR China
- Madagascar
- Malawi
- Malaysia
- Maldives
- Mali
- Malta
- Marshall Islands
- Martinique
- Mauritania
- Mauritius
- Mayotte
- Mexico
- Micronesia
- Moldova
- Monaco
- Mongolia
- Montenegro
- Montserrat
- Morocco
- Mozambique
- Namibia
- Nauru
- Nepal
- Netherlands
- New Caledonia
- New Zealand
- Nicaragua
- Niger
- Nigeria
- Niue
- Norfolk Island
- North Macedonia
- Northern Mariana Islands
- Norway
- Oman
- Pakistan
- Palau
- Palestinian Territories
- Panama
- Papua New Guinea
- Paraguay
- Peru
- Philippines
- Pitcairn Islands
- Poland
- Portugal
- Puerto Rico
- Qatar
- Réunion
- Romania
- Rwanda
- Samoa
- San Marino
- São Tomé & Príncipe
- Saudi Arabia
- Senegal
- Serbia
- Seychelles
- Sierra Leone
- Singapore
- Sint Maarten
- Slovakia
- Slovenia
- Solomon Islands
- Somalia
- South Africa
- South Georgia & South Sandwich Islands
- South Korea
- South Sudan
- Spain
- Sri Lanka
- St. Barthélemy
- St. Helena
- St. Kitts & Nevis
- St. Lucia
- St. Martin
- St. Pierre & Miquelon
- St. Vincent & Grenadines
- Sudan
- Suriname
- Svalbard & Jan Mayen
- Sweden
- Switzerland
- Taiwan
- Tanzania
- Thailand
- Timor-Leste
- Togo
- Tokelau
- Tonga
- Trinidad & Tobago
- Tunisia
- Türkiye
- Turkmenistan
- Turks & Caicos Islands
- Tuvalu
- U.S. Outlying Islands
- U.S. Virgin Islands
- Uganda
- Ukraine
- United Arab Emirates
- United Kingdom
- United States
- Uruguay
- Uzbekistan
- Vanuatu
- Vatican City
- Venezuela
- Vietnam
- Wallis & Futuna
- Western Sahara
- Yemen
- Zambia
- Zimbabwe
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Limited companies
Pricing
What does XTransfer cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
Free
XTransfer account
$0 per month
$0 setup · $0 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| SWIFT / international | Free | No charge · From bank accounts in 200+ countries; correspondent banks may deduct their charges |
| Local transfer from another bank | Free | No charge · Local receiving accounts in about 60 countries; COP, PEN, CLP and ZAR from 0.5% |
| From another XTransfer account | Free | No charge |
| Outgoing | ||
| SWIFT / international | From $2 | Fixed fee · Per payout to your own or another business's bank account in 200+ countries; VND payouts 0.05% of the amount |
| Local transfer to another bank | 0.4% | Percentage of the amount · CNY settlement to a Chinese supplier's bank account |
| To another XTransfer account | Free | No charge · Instant, 24/7 |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published | No separate conversion fee ('currently free of charge'); the margin in the rate is not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Not offered | Not available |
Forward contracts: Not published
Compare FX providersOnboarding
From application to live account.
XTransfer says business verification takes as little as one day; applications submitted before 14:00 on a business day are normally processed the same day.
- 1
Register
Register with a mobile number or email on xtransfer.com.
- 2
Verify the business
Upload the company documents and the IDs of the directors and of shareholders with 25% or more, then complete photo verification or online facial recognition.
- 3
Review
XTransfer's compliance team reviews the application: on the same day if it is submitted before 14:00 on a business day, otherwise in 1 to 3 business days.
- 4
Receiving accounts
Open global and local receiving accounts and share the details with your buyers. Accounts open instantly or within 3 Hong Kong working days, depending on the bank.
Documents you need
- Certificate of Incorporation
- Memorandum and Articles with shareholder and director information, or shareholder and director registers signed by all directors
- Board resolution as fits the company type (not needed for single-director entities)
- Valid IDs of all directors and of shareholders with 25% or more
- Photo verification (or online facial recognition / mobile number)
- If the company's status cannot be verified: Certificate of Incumbency or Good Standing, or six months' statements from another bank
FAQ
Your questions, answered.
Is XTransfer a bank?
No. XTransfer is a payment group headed by Xtransfer Limited in Hong Kong, a licensed money service operator. Its UK company, Xtransfer UK Limited, is an FCA authorised payment institution (FRN 799099), and XTransfer B.V. is an e-money institution licensed by De Nederlandsche Bank (R194054). It also holds licences in Singapore and Australia. Your receiving accounts are sub-accounts XTransfer opens at partner banks.
Which XTransfer company will my company contract with?
Not published. The public user agreement is with the XTransfer Group headed by Xtransfer Limited (Hong Kong), under Hong Kong law. The service terms for collections, transfers and FX are signed at business verification and are not public.
Do the receiving accounts carry my company's name?
Yes. The account name is your company's name; at DBS a buyer may write 'XT' or 'XT-' before it, as long as the full company name is there. The payee address is your company's own address.
How much does XTransfer cost?
Opening and keeping the account is free, and so are incoming payments from bank accounts in 200+ countries (correspondent banks may deduct their charges) and most local collections; COP, PEN, CLP and ZAR collections cost from 0.5%. Payouts cost from US$2, CNY settlement to Chinese suppliers 0.4%, and transfers between XTransfer accounts are free. There is no separate conversion fee, but the margin in the exchange rate is not published.
Can I fix an exchange rate for a future payment?
Not with a forward contract: XTransfer publishes none. Limit orders buy or sell at your target rate within 7 days, and market orders trade around the clock at the live rate.
Can a company from mainland China open an account?
Not on xtransfer.com. Mainland Chinese companies use XTransfer China at xtransfer.cn. Companies registered elsewhere can apply, except in the countries and regions XTransfer bans all payments to or from: Iran, North Korea, Syria, Cuba, Russia, Belarus, Myanmar, Iraq, Cambodia, Kyrgyzstan, Tajikistan, Armenia and the occupied regions of Ukraine.
Alternatives
How XTransfer compares.
If XTransfer is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 XTransferThis pagePayment company licensed in Hong Kong, the UK, the Netherlands, Singapore and Australia |      | Importers and exportersLimit orders |
 WorldFirstE-money institution | | Marketplace sellersTrade payments |
 AirwallexE-money institution | | Global accountsOnline businesses |
| CurrenxieMoney service operator |  | Hong Kong accountMarketplace sellers |
 StatrysMoney service operator | | Hong Kong accountFree account |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.