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WorldRemit vs. Xoom

Which online money transfer service offers the best exchange rates, lowest fees and fastest transactions?

Promoted

WorldRemit

WorldRemit logo
  • No minimum transfers.
  • Wide range of destinations.
  • Competitive exchange rate.

WorldRemit and Xoom both offer a convenient online transfer service, multiple payout methods and the ability to send funds to more than 100 countries around the world. But which one is best depends on how much you’re sending and how you’re sending it.

The fees and rates used in this comparison are accurate as of February 8, 2019.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Xoom
Within minutes
From $4.99
Xoom is an easy way to send money, reload phones and pay bills around the world.
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Which has lower fees?

WorldRemit

You’ll be charged a fee when you send money overseas with WorldRemit, but the size of the fee is calculated based on:

  • Your transaction amount.
  • Where you’re sending money.
  • The transfer method you select.

Bank transfers are the most affordable option and attract a flat $3.99 fee per transaction in most cases. However, fees vary depending on your transfer circumstances, so it’s a good idea to use WorldRemit’s online calculator to double-check the total cost of your transaction.

Xoom

Xoom also charges transaction fees, but there are four factors that affect the fee amount:

  • How you pay for the transfer.
  • The transaction amount.
  • Where you send the money.
  • The currency being transferred.

If you send a large transfer and pay using your bank account, in some cases your transfer will be fee-free. For example, if you want to send a $1,000 transfer from the USA to India, the following fees apply:

  • If sending a bank transfer. $0 if you pay with your bank account or $30.49 if you pay with debit or credit card.
  • If sending a cash pickup. $4.99 if you pay with your bank account or $30.49 if you pay with debit or credit card.

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Winner: Tie

While WorldRemit’s fees are often marginally lower, the fact that Xoom offers fee-free transfers on large transactions to certain destinations (when you pay with your bank account) means this one is a tie.

WorldRemit and Xoom both offer online calculators where you can work out the cost of a specific transfer, including not just the fee but also the exchange rate, so use these tools to help you decide which is cheaper.

Which offers better exchange rates?

WorldRemit

The margin is the difference between the mid-market exchange rate listed on Google and the exchange rate a money transfer provider offers to you. The lower the margin, and therefore the closer your quote is to the mid-market rate, the more money your recipient will get. WorldRemit’s margin differs across all currencies but typically sits in the 0.7%3% range. For example, if you wanted to send a transfer from the US to France:

  • If the mid-market rate is 1 USD = 0.8817 EUR
  • WorldRemit’s rate might be 1 USD = 0.8652 EUR

Xoom

Xoom’s margins are generally within a similar range to those offered by WorldRemit. Using the same example:

  • If the mid-market rate is 1 USD = 0.8817 EUR
  • Xoom’s rate might be 1 USD = 0.8690 EUR

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Winner: Tie

It’s impossible to nominate a winner in this category. While Xoom edges ahead on rates for some currencies, WorldRemit offers a slightly better deal on others.

Let’s crunch the numbers: Sending $500 to India

To give you an example of how WorldRemit and Xoom compare, let’s look at a hypothetical example of sending a $500 transfer from your bank account to your recipient’s bank account in India.

WorldRemitXoom
Transfer fee$0.99$4.99
Transaction cost$500.99$504.99
Exchange rate1 USD = 70.81381 INR1 USD = 70.7826 INR
Transfer speedSame dayWithin 4 hours
Total received (in INR)₹35,406.90₹35,391

As you can see in the table, sending this particular transfer with WorldRemit instead of Xoom would save you $4 in transfer fees and ensure that your recipient gets an extra INR 15.90.

Which is faster?

WorldRemit

WorldRemit offers a variety of transfer options, so transaction times vary depending on the option you select. Instant bank transfers are available to selected banks, but you’ll need to wait one to three working days in other cases.

Cash pickup transfers are available to collect instantly, while WorldRemit lists mobile money and airtime transfers as “instant or near-instant.” Home delivery transactions can take anywhere between one and seven days.

Xoom

Xoom’s transfer times vary depending on:

  • Where you send money.
  • The type of transfer you select.
  • Your payment method.

Xoom claims that the money you send is available for your recipient within minutes in most cases, but can take up to a few days.

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Winner: WorldRemit

With its wide range of speedy payment options, WorldRemit wins this category.

WorldRemit vs. Xoom: How they work

Payment methodsMinimum and maximum transfersDelivery methodsTransfer speedsCountries and currencies
WorldRemit
  • Bank transfer
  • Credit card
  • Debit card
  • Android Pay
  • Apple Pay
  • Minimum: $1
  • Maximum: $9,000
  • Bank transfer
  • Mobile wallet
  • Cash pickup
  • Airtime top-up
  • Door-to-door delivery
Within minutes145+ countries
Xoom
  • Bank transfer
  • Credit card
  • Debit card
  • $10 minimum
  • Maximum varies by country and account verification level
  • Bank transfer
  • Cash pickup
  • Home delivery
Within minutes to a few days130+ countries

WorldRemit

To send an overseas transfer with WorldRemit, you’ll need to sign up for a free account before entering the currency and amount you want to send. You’ll then be asked to enter your recipient’s details and what type of transfer you want to send: bank deposit, mobile wallet deposit, cash pickup, airtime top-up or door-to-door delivery, as well as who you’ll be sending it to. Accepted payment methods include bank account transfer, credit card, debit card, Android Pay and Apple Pay.

Xoom

If you want to send a transfer with Xoom, and you’ve got a US or Canadian bank account, you’ll need to sign up for an account online or by downloading the Xoom app. When you initiate a transfer request you’ll be asked to provide:

  • The currency and amount you want to send.
  • Your recipient’s details.
  • How your recipient will access the money you send (Xoom offers bank deposits, cash pickup transfers and home deliveries).

You can pay for your transaction using a credit card, debit card or bank transfer.

Bottom line

This was a very closely-fought battle and it was difficult to split the two contenders across all categories. WorldRemit comes out on top, but that doesn’t necessarily mean it will offer the best value for money for your transfer exchange rates and fees vary based on a wide range of factors, so get a quote from both providers to be certain which one is right for your needs.

Ultimately, make sure you compare several international money transfer services to find the best deal.

Looking for more options?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 12 of 12
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Frequently asked questions