WorldRemit VS XE

WorldRemit vs XE

We compare these two online transfer providers side by side to see which comes out on top.

If you want to send an online money transfer, WorldRemit and XE both offer international transfers to more than 145 countries. However, while WorldRemit offers a range of payout methods to suit the needs of your recipient, XE specializes in fast bank transfers.

So which service is the right choice for your next international money transfer? Let’s compare WorldRemit and XE in terms of fees, exchange rates and transaction times to find out.

The fees and rates used in this comparison are accurate as of 11 February 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 0 1 day CAD 0.00 0.754 USD
754
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
CAD 0 Within an hour CAD 3.99 0.758 USD
755
Use code FINDERCA and pay zero fees on your first transfer. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Which has lower fees?

WorldRemit

WorldRemit charges a fee on each international money transfer, but the size of the fee depends on multiple factors:

  • How much money you send
  • Where you send it
  • The type of transfer you send

Bank transfers attract the lowest fees, often around $3.99 per transaction, but we recommend that you use WorldRemit’s online calculator to work out exactly how much your transfer will cost.

XE

XE doesn’t charge any fees or commissions on international money transfers.

Trophy icon
Winner: XE

With no transaction fees to speak of, XE is the clear winner in this category.

However, please note that this doesn’t necessarily mean transfers with XE are always cheaper than WorldRemit, as you’ll also need to consider the exchange rate (see below) to determine which service offers the best value for money.

Which offers better exchange rates?

WorldRemit

In addition to fees, WorldRemit makes money by adding a margin on top of the mid-market exchange rate you see listed on Google. This margin varies depending on the currency you send but is commonly in the 0.7–3% range. For example, if you wanted to send a transfer to the US:

  • If the mid-market rate is 1 CAD = 0.7500 USD
  • WorldRemit’s rate might be 1 CAD = 0.7300 USD

XE

XE Money Transfer also adds a margin on top of the mid-market exchange rate. This margin is an average of 0.62% on some of the world’s most popular currencies. Using the same example as we did for WorldRemit:

  • If the mid-market rate is 1 CAD = 0.7500 USD
  • XE’s rate might be 1 CAD = 0.7440 USD

Trophy icon
Winner: XE

XE generally offers better exchange rates than WorldRemit, which means that more of the money you send will end up in your recipient’s pocket.

Let’s crunch the numbers: Sending $1,000 to the UK

Let’s see how WorldRemit and XE compare to one another in a real-life transfer scenario. In this example, we’ll compare the cost of sending a $1,000 bank account transfer to the UK.

WorldRemit XE
Transfer fee $3.99 $0
Transaction cost $1,003.99 $1,000
Exchange rate 1 CAD = 0.54083 GBP 1 CAD = 0.54614 GBP
Transfer speed 1 working day 1 working day
Total received (in GBP) £540.83 £546.14

As you can see in the table, using XE instead of WorldRemit in this example would save you $3.99 in transfer fees and also allow you to send an extra £5.31 to your recipient.

Which is faster?

WorldRemit

The time it takes for the money you send to arrive depends on two factors: the type of transfer you send and the country you send money to. Transfer times with WorldRemit are as follows:

  • Bank transfer: Instant transfers to selected banks, but a processing time of 1–3 working days for other transactions
  • Cash pick-up: Available to collect instantly
  • Mobile money: Instant or near-instant
  • Airtime top-up: Instant or near-instant
  • Home delivery: 24 hours to 7 days

XE

Most transfers with XE are completed the same day, but your transaction may take longer in certain circumstances. When setting up your transfer, XE will confirm a payment date with you – this is the earliest date that your transfer will be completed.

Trophy icon
Winner: WorldRemit

If you need to send money overseas ASAP, WorldRemit’s range of instant or near-instant transfer options make it a better choice.

WorldRemit vs XE: How they work

Payment methods Minimum and maximum transfers Delivery methods Transfer speeds Countries and currencies
WorldRemit
  • Bank transfer
  • Credit card
  • Debit card
  • Android Pay
  • Apple Pay
  • Minimum: $0
  • Maximum: $40,000
  • Bank transfer
  • Mobile wallet
  • Cash pick-up
  • Airtime top-up
  • Door-to-door delivery
Within an hour 145+ countries
XE
  • Bank transfer
  • BPAY
  • Minimum: $0
  • Maximum: $500,000
  • Bank transfers
1 day 60+ currencies and 170+ countries

WorldRemit

To send an international transfer with WorldRemit, the first step is to sign up for a free account. You’ll then need to specify the currency and amount you want to send, as well as who you’ll be sending it to. You can pay for your transaction via bank account transfer, credit/debit card, Android Pay or Apple Pay.

XE

To send a transfer with XE, sign up for a free account and select the currency and amount you want to send. You’ll then need to enter your recipient’s name and bank account details, select your payment method and then confirm your transaction details. The funds you send to XE will then be transferred into your recipient’s bank account.

Bottom line

With no transfer fees and exchange rates typically better than those on offer from WorldRemit, XE generally offers better value for money. However, if you need to send a quick transfer or send something other than a bank transfer, WorldRemit is worth considering.

That said, it’s important to compare a wide range of international money transfer services before deciding which one is the right choice to handle your next transaction.

Looking for more options?

Use our comparison calculator below to compare the fees, exchange rates and other key features of several other money transfer services.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 0 Within an hour CAD 3.99 0.758 USD
7,573
Use code FINDERCA and pay zero fees on your first transfer. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details
CAD 0 1 day CAD 0.00 0.758 USD
7,581
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
USD 150 1 day CAD 0.00 0.758 USD
7,581
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Go to site Show details
CAD 1 1 - 2 days CAD 90.00 0.761 USD
7,543
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
CAD 5 1 - 2 days EUR 3.00 0.757 USD
7,572
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
GBP 5,000 1 - 2 days CAD 0.00 0.758 USD
7,578
Aimed at larger transfers, CurrencyTransfer is an online marketplace that lets you shop around for the best exchange rate. Go to site Show details
CAD 2,000 1 day CAD 0.00 0.758 USD
7,581
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies.
Go to site Show details
CAD 7,000 1 day CAD 0.00 0.758 USD
7,581
Venstar Exchange offers competitive exchange rates and zero fees on large transfers over US$10,000. Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You must be logged in to post a comment.

Go to site