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Xoom international money transfer review

Track your transfers to know exactly when your money arrives.

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Why should I use Xoom?

  • Transfer tracking. You’ll receive a text message when your money arrives. Xoom will also email you and your recipient to keep you both informed of the transfer’s progress. You can log on to your account any time and track the transaction there, or call customer service and receive an update from a live representative.
  • Money-back guarantee. Xoom offers a money-back guarantee to refund your transaction in full if the money you send doesn’t arrive to your recipient.
  • 24/7 support. Phone and email support is available 24 hours a day, seven days a week if you need help with a transaction.

What to be aware of with Xoom

  • Requires government-issued ID. You’ll need to upload a government-issued ID, like a license or passport, and a recent bank statement to send money.
  • No live chat option. Though you can call or email Xoom for 24/7 customer support.
  • Exchange rate markup and fees. Xoom adds a markup on the mid-market rate and charges additional fees.

Xoom’s exchange rates and fees

The total cost of a Xoom transfer varies between online and agent locations. But for online transfers, fees depend on:

  • Payment. Paying by bank transfer is the cheapest option while paying by credit card will have higher fees. Additional cash advance fees may also be charged to your credit card.
  • Recipient’s location. Fees depend on where you’re sending to.
  • Amount. Different fees are charged based on how much you’re sending.
  • Delivery. To send cash, fees are generally higher, while receiving money to a bank account is often less expensive.

Here’s an example of the fees you might see while sending $1,000 through Xoom to Mexico or India for bank deposit:

DestinationPayment methodFee
MexicoPayPal balance or bank account$0
MexicoCredit or debit card$21.49
IndiaPayPal balance or bank account$0
IndiaCredit or debit card$21.49

Accurate as of September 29, 2020.

There are some situations when transfer fees will be waived, such as if you send $1,000 or more to India and pay using your bank account. Use Xoom’s Fees and Exchange Rate Calculator to see the fees that apply to your transfer destination and amount.

Xoom’s exchange rate

Xoom makes money through transaction fees and by charging above the mid-market rate. Keep in mind that the exchange rate offered by Xoom may change depending on the amount of money you’re sending. Here are the rates when we checked on September 29th, 2020, for sending CAD to different currencies through Xoom:

Destination countryXoom rateMid-market rateMarkup
The United States0.73750.7469911.27%

Along with the markup, it should be noted that when paying with a credit or debit card, the fee you’ll be charged will be proportional to the amount of money you’re sending. So the more money you send, the higher the fee you’ll have to pay. When we checked, sending $5,000 to India through Xoom and paying with a credit card will cost you $106.49 in fees.

How long does a Xoom transfer take?

Turnaround time on your Xoom transfer depends on how you pay and how the money is received:

  • Fastest option — nearly instant

    Pay for your transfer with a credit card, debit card or PayPal balance. You’ll pay more in fees, but your money arrives in as little as 15 minutes, if not instantly. Your credit card might charge you an additional cash advance fee, further increasing the cost of your total transfer. Some destinations may take longer to receive money, even when paying by credit or debit card.

  • Cheapest option — up to 4 business days

    Using a bank account to pay for your transfer is often the cheapest way to send money, but it’s the slowest. Sending money to your recipient’s bank account may also delay the transfer time.

What currencies can I send with Xoom?

Xoom can send to more than 150 countries and territories worldwide. Xoom can be sent from residents in Canada, the United States, the UK, and select countries in Europe. Some of the popular currencies that Xoom supports include:

  • Australian dollar (AUD)
  • Bangladesh taka (BDT)
  • Brazilian real (BRL)
  • Dominican peso (DOP)
  • Egyptian pound (EGP)
  • Indian rupee (INR)
  • Mexican peso (MXN)
  • Philippine peso (PHP)

What are Xoom’s sending limits?

Xoom separates accounts into three levels based on how much verification you’ve given. For Canadian residents, it looks like this for bank deposit maximums:

Level24-hour limit30-day limit180-day limitRequired information and documents
1999 CAD5,000 CAD9,999 CADSender profile information
212,500 CAD25,000 CAD40,000 CAD
  • Passport, driver’s license, or another government issued ID to verify your identity
  • Utility bill or another proof of address
  • Bank statement or another statement issued by your bank
  • Plus additional information at Xoom’s request
375,000 CAD90,000 CAD130,000 CAD
    • Passport, driver’s license, or another government issued ID to verify your identity
    • Utility bill or another proof of address
    • Either a bank statement or a pay stub
    • Plus additional information at Xoom’s request

      Is PayPal Xoom?

      Xoom is a PayPal service, and is owned and operated by PayPal. Users who already have and use PayPal accounts can integrate their existing accounts into Xoom to send money around the world. Recipients of Xoom transfers do not need to create a PayPal account in order to receive money.

      Review of PayPal’s fees and how it works

      Is Xoom safe?

      Xoom’s parent company, PayPal, is one of the most well-known payment systems. Xoom has additional measures to protect your money while using the service:

      • Encryption: Xoom uses 128-bit data security encryption for its entire website.
      • Regulation: Xoom shares all the same regulations and licenses held by PayPal.
      • Money-back guarantee: Xoom guarantees that your money will be received by your recipient, and if it isn’t the transaction will be refunded in full.

      Xoom reviews

      Reviews accurate as of September 29, 2020.

      Trustpilot4 .5 out of 5 — based on 21,568 customer reviews
      CompareRemit4.5 out of 5 — based on 1,905 customer reviews
      BBB ratingA+ — based on BBB’s internal rating system
      Monito7 out of 10 — based on staff reviews
      NerdWallet3.5 out of 5 — based on staff reviews

      Case study: Our experience transferring money with Xoom

      Here’s what we found when we sent live transfers to Mexico and France through Xoom:

      • We paid low fees and received competitive rates within 2.4% of the mid-market rate on average, with rates updated multiple times a day.
      • Our transfer to France arrived ahead of schedule, while our funds were deposited into our recipient’s Mexican bank account within 24 hours.
      • Xoom’s easy-to-use website allowed us to sign up and initiate a transfer in just about 3.5 minutes.

      What payment methods does Xoom accept?

      Xoom transfers can be paid for in a few different ways when sending from the United States, including:

      • Bank account transfer
      • Credit or debit card
      • PayPal balance

      Each payment method may have different fees depending on your sending destination, but overall paying with a bank account or PayPal balance tends to be the cheapest option.

      How do I send money through Xoom?

      Before you can send funds with Xoom, you must register for a free account with your personal contact information. While you don’t need to enter a Social Security number at sign-up, Xoom requires you to upload a government-issued ID, like a license or passport, and a recent bank statement if you want to send higher amounts.

      Steps to send a money transfer with Xoom

      What do you need to send money through Xoom?

      • Amount to be sent and currency it will be converted to
      • A valid payment method — credit card, debit card or bank account
      • The recipient’s name, address and bank name and account number
      • Your phone number and address

      Is there a Xoom app?

      Xoom mobile app homepage

      Xoom has an app on both Google Play and the App Store. The app makes it possible to:

      • Quick send. Use existing contacts to quickly send money with a few swipes and taps.
      • Track orders. The status of your transfer is quickly accessible through the app.
      • See fees and exchange rates. An in-app fee and exchange rate calculator will help you determine the cost of your next transfer through Xoom.
      Ratings accurate as of September 29, 2020
      Google Play Store4 out of 5 — based on 51,670 customer ratings
      Apple App Store4.7 out of 5 — based on 10.8K customer ratings

      More on the best money transfer apps

      Bottom line

      Xoom’s money transfer options are worth considering when you need to send money overseas. Just make sure to compare its services with those of a number of other providers before deciding on the right money transfer company to handle your transactions.

      How does Xoom compare to other services?

      Enter the amount you want to send, select your sending destination and click Calculate to see how much your transfer with Xoom could cost.

      Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
      CAD 1 Same day CAD 0.00 0.778 USD
      XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
      CAD 10 Within an hour CAD 1.99 0.773 USD
      Special offers like free transfers and better exchange rates available for new customers.
      Remitly has quick, affordable transfers around the world, with both express and economy options.
      Go to site Show details
      CAD 1 1 - 2 days CAD 45.00 0.782 USD
      Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

      Compare up to 4 providers

      Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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