Royal Bank of Scotland vs XE: Fees, Rates & Speed Compared
Royal Bank of Scotland
3.3Royal Bank of Scotland (now NatWest Group) offers international payments for UK account holders. Higher costs than specialist transfer services.
XE
4.4XE is a trusted name in currency exchange, offering international money transfers with competitive rates and no transfer fees for most corridors.
Royal Bank of Scotland and XE are both popular choices for international money transfers, but they take different approaches. Royal Bank of Scotland, founded in 1727 and headquartered in Edinburgh, 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. Our data shows the difference can be significant — on a £1,000 GBP → EUR transfer, XE delivers €19.85 more to the recipient.
In this comparison
Live comparison: Royal Bank of Scotland vs XE across popular corridors
The table below shows how much the recipient receives when sending through Royal Bank of Scotland vs XE on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Royal Bank of Scotland | XE | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,033.71 | N/A |
| GBP → EUR(£1,000) | €1,127.09 | €1,146.94 | XE (+€19.85) |
| 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 Royal Bank of Scotland and XE
Royal Bank of Scotland vs XE: Feature comparison
| Feature | Royal Bank of Scotland | XE |
|---|---|---|
| Overall rating | 3.3/5 (Fair) | 4.4/5 (Excellent) |
| Fee structure | £15-£25 per international payment | No transfer fees |
| Exchange rate markup | 2.5% - 4% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | 2-5 business days | 1-4 business days |
| Supported countries | 200+ | 130+ |
| Supported currencies | 25+ | 130+ |
| Max transfer | $25,000 | $500,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | FCA, PRA | FCA, FinCEN, ASIC, FINTRAC |
| Founded | 1727 | 1993 |
Pros and cons
Royal Bank of Scotland
Pros
- Trusted UK bank with long history
- Send from existing account
- Part of NatWest Group
Cons
- High transfer fees (£15-£25)
- Poor exchange rate markup
- Slower than specialist providers
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 Royal Bank of Scotland vs XE
Choose Royal Bank of Scotland if:
- You want the real mid-market exchange rate with no hidden markup
- You need wider country coverage (200+ vs 130+ countries)
- Royal Bank of Scotland'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
Verdict: Royal Bank of Scotland or XE?
Cost winner: XE
XE wins on cost in 1 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €19.85 more with XE. XE achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Royal Bank of Scotland typically delivers in 2-5 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, Royal Bank of Scotland is the better pick if you need international money transfers.
Frequently asked questions
Is Royal Bank of Scotland or XE cheaper for international transfers?
Based on our data, XE is generally cheaper across most corridors. XE charges No transfer fees with a 0.5% - 1.5% above mid-market exchange rate markup, while Royal Bank of Scotland charges £15-£25 per international payment with a 2.5% - 4% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, XE delivers €19.85 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Royal Bank of Scotland or XE?
Royal Bank of Scotland typically completes transfers in 2-5 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 Royal Bank of Scotland and XE safe to use?
Yes, both are regulated money transfer services. Royal Bank of Scotland is regulated by FCA, PRA and has a 3.3/5 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 Royal Bank of Scotland vs XE?
Royal Bank of Scotland has a maximum transfer of $25,000 (minimum $1), 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 Royal Bank of Scotland 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, Royal Bank of Scotland 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.