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Alternatives to Xoom

Explore other services like Xoom that have higher sending limits and more trading options.

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Fact checked

Xoom, a PayPal company, falls short when it comes to global coverage and pickup options that aren’t bank transfers. Additionally, shopping around and looking at other money transfer companies can open up the possibilities of hedging options, far higher maximum limits and physical locations.

We’ve listed out some of the more popular Xoom alternatives, including PayPal, and highlighted the specific features they have that Xoom doesn’t. At the bottom of the page, you’ll also find a comparison table with additional entries if our handpicked options aren’t quite what you’re looking for.


MoneyGram logo

MoneyGram

MoneyGram allows transfers to many more countries than Xoom, with service to over 350,000 agent locations in 200 countries.

Why pick MoneyGram instead?

  • Pairs with Walmart for same-day in-store transfer service
  • Send up to $10,000 for cash pickup, depending on agent location availability
  • Fees can be reduced depending on payment type and transfer destination
  • Online or in-person transfers for cash pickup, bank deposit or mobile wallet delivery

Downsides

  • Fees vary by payment type, with higher costs for credit and debit cards
  • Local exchange rates vary by transfer destination


WorldRemit logo

WorldRemit

When it comes to fees based on how much you’re sending and to where, WorldRemit and Xoom are similar. However, WorldRemit’s global network is larger, its exchange rates are typically stronger and it has more options like cash pickup.

Why pick WorldRemit instead?

  • Offers bank-to-bank transfers, cash pickups and mobile top-ups
  • Provides service to more than 140 countries around the world
  • Pay by bank account transfer, credit or debit cards

Downsides

  • No cash payments for international transfers
  • Government-issued ID required for most transfers


XE logo

XE Money Transfer

XE does not have any transfer limits or fees and offers competitive exchange rates that are typically better than what Xoom offers. If you’re looking for speed, though, XE may not be a better option than Xoom’s instant transfer service.

Why pick XE instead?

  • No transfer fees
  • No minimum or maximum transfer amounts
  • Exchange between over 55 currencies

Downsides

  • Transfers can require up to three business days (beware of holiday weekends)
  • No cash pickup options
  • Must pay and transfer via bank accounts


Currencies Direct logo

Currencies Direct

Currencies Direct supports transfers of any amount in more than 40 currencies with no hidden fees and offers same-day delivery for select currencies.

Why pick Currencies Direct instead?

  • Competitive rates and no fees on most transfers
  • No listed maximum for transfers
  • Variety of transfer options such as online, mobile, phone and in-branch

Downsides

  • Requires copies of a government-issued ID and bank account information before transferring
  • Less than 30 physical branches worldwide


OFX logo

OFX

Similar to Xoom, OFX charges a spread on the mid-market exchange rate — for OFX, it is an average of 0.4% which is relatively affordable compared to Xoom. OFX does not charge any additional fees on transfers and has a wider network as well, but it is slower on average than Xoom.

Why pick OFX instead?

  • No maximum transfer to 50+ currencies
  • No transfer fees paired with competitive rates
  • Hedging options like forward contracts and limit orders

Downsides

  • Bank-to-bank transfers only
  • No cash pickups
  • New accounts require verification by phone
  • High minimum transfer amount of $1,000 per year


PayPal logo

PayPal

PayPal differs from Xoom in that it is typically cheaper for sending domestic transfers, but it is slower. Xoom excels in non-commercial transactions and is designed for individual use, while PayPal is still the better option for business-related transfers worldwide.

Why pick PayPal instead?

  • PayPal wallets can store multiple currencies so you don’t have to convert it if you’ll be spending that currency again in the future.
  • You can pay businesses fee-free through PayPal
  • Lower fees for international transfers

Downsides

  • Slower transfer speeds than Xoom
  • No cash pickup options
  • Weak exchange rates with fees based on size of transfer

Travelex logo

Travelex

Travelex is similar to Xoom in that it provides quick, easy online money transfers to more than 50 countries at rates that often beat your local bank. However, unlike Xoom, Travelex guarantees this rate for 30 minutes. If you find a better deal online during that time, Travelex will beat it.

Why pick Travelex instead?

  • Zero transfer fees when sending over $5,000
  • $5 fee when sending less than $5,000
  • Hedging options such as limit orders, forward contracts and spot contracts
  • Price-match guarantee up to 30 minutes after your transfer

Downsides

  • Minimum transfer of $500 required
  • Only allows bank-to-bank transfers
  • Transfer speeds could be faster


Still looking for other options?

Use the table below to find more options by entering the amount and destination of your transfer if the above options aren’t quite what you’re looking for. Alternatively, learn more about Xoom in our review.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 0.845 EUR 8,449 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 0.845 EUR 8,449 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 1 Same day USD 0.00 0.845 EUR 8,448 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 2,000 1 day USD 0.00 0.845 EUR 8,449 $0 transfer fees with rates at never more than a 2% markup. Go to site Show details
USD 0 1 - 2 days USD 1.99 0.831 EUR 8,311 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
USD 1 1 - 2 days USD 80.00 0.848 EUR
8,415
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 50 1 - 2 days USD 0.00 0.843 EUR 8,432 InstaReM offers quick and simple international money transfers with the ability to earn loyalty points. 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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2 Responses

  1. Default Gravatar
    AndreSeptember 12, 2018

    Hi. I need to transfer money from Miami bank to Brazilian bank. What service do you recommend for me?

    • Avatarfinder Customer Care
      CharisseSeptember 12, 2018Staff

      Hi Andre,

      Thanks for reaching out to finder.

      While we can’t recommend a specific money transfer service to you, you can utilize our page to review and compare your options in doing an international fund transfer to Brazil. There are several ways on how you can send money from your US bank account to a Brazilian bank account:

      – bank to bank transfer via your online banking account
      – money transfer companies

      You can go to this page to see money transfer companies you can consider when sending money to Brazil. The page also has a lot of information that can help you decide which among your options will work best for you.

      Hope this helps.

      Cheers,
      Charisse

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