PNB Europe vs XE: Fees, Rates & Speed Compared
PNB Europe
3.5PNB Europe (Punjab National Bank International) offers money transfers from Europe to India and the Philippines at competitive rates.
XE
4.4XE is a trusted name in currency exchange, offering international money transfers with competitive rates and no transfer fees for most corridors.
PNB Europe and XE are both popular choices for international money transfers, but they take different approaches. PNB Europe, founded in 2010 and headquartered in London, UK, is best known for international money transfers. XE, operating since 1993 from Newmarket, Canada, focuses on large transfers and business payments. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs.
In this comparison
Live comparison: PNB Europe vs XE across popular corridors
The table below shows how much the recipient receives when sending through PNB Europe vs XE on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | PNB Europe | XE | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,033.71 | N/A |
| GBP → EUR(£1,000) | — | €1,146.94 | N/A |
| USD → PHP($500) | — | ₱28,827.34 | N/A |
| USD → MXN($1,000) | — | MX$17,191.59 | N/A |
| GBP → PKR(£500) | — | ₨174,170.74 | N/A |
| USD → NGN($200) | — | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between PNB Europe and XE
PNB Europe vs XE: Feature comparison
| Feature | PNB Europe | XE |
|---|---|---|
| Overall rating | 3.5/5 (Good) | 4.4/5 (Excellent) |
| Fee structure | £0-£5 per transfer | No transfer fees |
| Exchange rate markup | 0.3% - 1% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | 1-2 business days | 1-4 business days |
| Supported countries | 5+ | 130+ |
| Supported currencies | 5+ | 130+ |
| Max transfer | $25,000 | $500,000 |
| Payment methods | Bank Transfer, Debit Card | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | FCA, PRA | FCA, FinCEN, ASIC, FINTRAC |
| Founded | 2010 | 1993 |
Pros and cons
PNB Europe
Pros
- Competitive GBP-to-INR rates
- Trusted Indian banking brand
- Low fees for India transfers
Cons
- Very limited corridor coverage
- Only for transfers to India and Philippines
- Less modern app experience
XE
Pros
- Well-known and trusted brand
- No transfer fees for most transfers
- Supports 130+ currencies
- Rate alerts available
- Excellent currency data and tools
Cons
- Exchange rates include a markup
- No cash pickup option
- Transfer speed can be slow
When to choose PNB Europe vs XE
Choose PNB Europe if:
- You want the real mid-market exchange rate with no hidden markup
- PNB Europe's strengths (Bank Deposit) match your needs
Choose XE if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (XE supports up to $500,000)
- You want to lock in an exchange rate with a forward contract
- You need a business account for commercial payments
- You need wider country coverage (130+ vs 5+ countries)
Verdict: PNB Europe or XE?
Cost: Too close to call
PNB Europe and XE are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Speed: Similar delivery times
Both providers offer similar transfer speeds. PNB Europe typically delivers in 1-2 business days, while XE takes 1-4 business days. The actual speed depends on the corridor and delivery method.
Wider coverage: XE
XE has broader coverage with 130+ countries and 130+ currencies. XE also offers Bank Deposit.
Bottom line
Overall, XE edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, PNB Europe is the better pick if you need international money transfers.
Frequently asked questions
Is PNB Europe or XE cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows PNB Europe and XE are closely matched on total cost. PNB Europe charges £0-£5 per transfer with a 0.3% - 1% above mid-market exchange rate markup, while XE charges No transfer fees with a 0.5% - 1.5% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, PNB Europe or XE?
PNB Europe typically completes transfers in 1-2 business days, while XE takes 1-4 business days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are PNB Europe and XE safe to use?
Yes, both are regulated money transfer services. PNB Europe is regulated by FCA, PRA and has a 3.5/5 Trustpilot rating. XE is regulated by FCA, FinCEN, ASIC, FINTRAC with a 4.4/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for PNB Europe vs XE?
PNB Europe has a maximum transfer of $25,000 (minimum $10), while XE allows up to $500,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Should I use PNB Europe or XE to send money internationally?
For most users, XE offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, PNB Europe is the better choice if you need international money transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Bank Deposit.