The best alternatives to Xoom when sending a money transfer.
Owned by PayPal, Xoom is a digital provider that supports secure money transfers to 67 countries. Xoom can move as little as $10 at competitive rates, backed by a guarantee that your money is delivered to your recipient on time or your money back. Online tracking and 24/7 support provide further peace of mind.
- Send same-day transfers of $10 to $2,999 worldwide.
- Get help with transfers 24/7 online or by phone.
- Protects your money through 128-bit encryption and a money-back guarantee.
- Transfers come with both a variable fee and spread on the exchange rate.
- Service network covers 67 countries only.
Because Xoom is a PayPal service, its features extend to billpay in the US and mobile topups in nearly 30 countries. But if you’re looking for a currency or country it doesn’t cover, you may need to look elsewhere. Read on to learn about providers that cover wider networks.
Like Xoom, OFX charges a spread on the exchange rate — but here it’s an average 0.4% above the mid-market rate, making for a more competitive rate. OFX also charges no fees on transfers of $150 or more to a wider network of 195 countries and 55 currencies.
But if you’re looking for same-day transfers, stick with Xoom: OFX requires at least two business days from send to receipt.
- No-max transfers to 195 countries and in 55 major and exotic currencies.
- Competitive rates and no transfer fees.
- Balance savings and convenience with forward contracts and limit orders.
- Bank-to-bank transfers only — no cash pickups.
- New accounts require verification by phone.
2. World First
Rather than a fee that’s equal to a percentage of your transfer, this large international money transfer specialist charges a flat $10 fee for transfers of under $10,000 and no fee for $10,000 or more with rates close to the mid-market rate. It also allows for much larger transfers than Xoom’s $2,999 daily limit — $25,000 to start and up to $50,000 after you’re a confirmed user. But you’ll need to allow one to six days for delivery, a much longer turnaround than Xoom’s same-day delivery.
- Flat $10 fee for transfers of up to $10,000 and no fee on larger ones.
- Competitive exchange rates on transfers of $1,000 to $25,000 or more.
- Offers spot contracts, forward contracts and hedging options.
- Lock in rates for up to three years into the future.
- High minimum transfers of $1,000 or more.
- Two-step process can mean up to six days for delivery.
- Social Security number and government-issued ID required.
Like Xoom, HiFX offers bank-to-bank transfers to more than 35 countries worldwide, but it does so with no fees. And its exchange rates are more competitive than Xoom’s, though you must sign up for a HiFX account to see the exact rate that applies to your transfer. With limits of up to $500,000, HiFx could be the stronger competitor.
- Third-largest money transfer provider in the world, offering safety and security.
- Competitive rates and no fees on your transfer, period.
- Allows transfers of up to $500,000, with a low $100 minimum.
- Turnaround can require up to three business days.
- Exchange rates not available until you sign up for an account.
- Services limited to some 38 countries only.
TransferWise is a strong competitor, offering peer-to-peer money transfers at the mid-market rate. Like Xoom, fees vary by transfer — from 0.5% to 1.5% of your transaction amount. Individuals can send up to $49,999 daily, while businesses can be approved to send up to $200,000 daily and a whopping $1 million a year. Still, TransferWise’s advantages come with a drawback: Your recipient may wait up to five days to receive your money.
- Easily sign up to start transferring money in minutes.
- Transfer from $1 to $199,999 or more, depending on your account.
- Get a strong mid-market exchange rate with no hidden fees.
- Bank-to-bank transfers only, with no option for cash pickup.
- Two-step process can result in up to five days’ turnaround.
- Social Security number required.
Xoom and WorldRemit offer similar fee structures that depend on how much you’re sending — and to where. And they each accept low transfers with maximums in the $2,000 to $3,000 range for fast turnaround. But WorldRemit services more that 140 countries and typically offers stronger exchange rates that extend to cash pickups at more than 30,000 agents worldwide. And you can sign up in about five minutes flat.
- Easy site takes you from sign-up to transfer in minutes.
- Offers bank-to-bank transfers, cash pickups and mobile top-ups.
- Pay by bank account, credit card or debit card.
- Moves your money to more than 140 countries around the globe.
- Because fees are a percentage of your transaction, you’ll pay more for higher transfers.
- Not available to residents of Louisiana or New York.
- Requires government-issued ID after your first transfer.
Travelex and Xoom provide quick and easy online money transfers and offer recurring payments for monthly bills overseas. Xoom has a low $50 minimum transfer, compared to Travelex’s $500 minimum. But, Travelex offers transfers to more countries and with more currencies.
- Flat fee of $5 for any transaction under $5,000
- No fee for transfers of $5,000 or more
- Exchange to more than 45 different currencies
- Home delivery available
- Exchange rates not always the most competitive
- Minimum $500 to transfer
- No cash payments or cash pickups allowed
TorFX is a strict money exchange and transfer company that focuses on getting your funds where they need to go quickly. Unlike other services, it requires that funds to be cleared by individuals who hold TorFX accounts. The money must be sent in advance before the transaction can be performed. TorFX cares about its customers, with clarity and friendly service two of its highest priorities.
- Competitive exchange rates
- Free market news
- Fixed exchange rate protection
- Can save you 5% on bank exchange rates
- No bank charges or commissions
- Consult with currency experts
- Potential risks of exchange include market volatility
- Can only send between the United States and Australia
- Users report technical and administrative problems that delay transfers
Currencies Direct is an international money transfer service dedicated to helping its customers save more when transferring money internationally. With 39 currencies to choose from (and others that can be discussed with the company itself), it is more flexible than other money transfer services. So long as there’s a bank account available, Currencies Direct will transfer and exchange your funds at a low flat rate.
- No fees for 90% of its transactions
- Worldwide service
- Competitive exchange rates
- Low minimum transfer of $100
- Supports large transactions at a seemingly unlimited max
- Monitors exchange rates for your ideal transfer
- No cash pickup option
- Does not support all currencies (though you can contact them if yours isn’t listed)
Around for more than 160 years, Western Union continues to make it easy for you to transfer money in the United States and overseas. In more than 200 countries and territories across the globe and with more than 500,000 agent locations worldwide, money pickups are a breeze.
- Low minimum transfer of $1
- Send money in minutes
- Transfer to a wide range of countries
- Competitive live exchange rates updated regularly
- Multiple transfer options
- Trusted provider
- Can be more expensive than other transfer companies
In business for more than 30 years, RIA is a global monetary transfer network with more than 240,000 agent locations in 130 countries. It is the third-largest international money transfer provider in the world. Offering a wide variety of payment options and transfer services, RIA knows how to keep its customers happy with a simple transfer process.
- Wide variety of transfer options
- Good rates and minimal fees
- Online price calculator simplifies money conversion
- Expert advice
- Maximum daily transfer cap of $2,999.99
The second-largest international money transfer service in the world, MoneyGram is a big contender for money transfer. Its services transfer and exchange currencies in over 200 countries and territories around the world to more than 350,000 agent locations worldwide. If you’re not confident about transferring money online, an employee can walk you through the process at of the 40,000 locations here in the States.
- Extensive global network of 350,000 agent locations
- Large pool of services available for sending, receiving or financing
- Secure and reliable
- Fast transfers, with same-day service in many locations
- Maximum online transfer amount of $2,999
- Fees vary depending on payment type and transfer destination
- Transfers must be made in US dollars from the US (no exchanges before transfer)
- Local exchange rates vary by transfer destination
Sharemoney is a part of the Omnex group, a company that’s specialized in money transfers for over 25 years. Its constantly expanding service range and offer door-to-door and cash pickup options on top of the usual transfer techniques.
- Low transfer fees
- Exchange rate calculator helps you see just how much money you’ll get for your dollar
- Fast and easy service
- Door-to-door delivery in as short as 48 hours
- Discounts available on Facebook
- Doesn’t transfer to every country
- Exact location must be specified for cash pickup
- Daily transfer limits of $9,999
Known for its retailing business, Walmart offers money transfer services to over 190 countries thanks to a partnership with MoneyGram. Funds can be picked up at any Walmart in the US or Puerto Rico or sent to any one of MoneyGram’s 336,000 agents around the world.
- Widespread network of agents gets your money where it needs to go
- Transfer to more than 190 countries
- Efficient transfers in as little as 10 minutes
- Cash pickups only
14. Currency Online
Founded in 1986, Currency Online was one of the first to offer online money transfer services. HiFX became its parent company in 2008, and it continues to offer low competitive rates by cutting the usual banking fees out of the picture.
- Exchanges more than 25 different currencies
- Multiple services like spot contracts and market orders
- Quick turnaround in 1 to 4 days
- 24-hour customer service
- No minimum transfer
- No cash pickup
- Not available in the US, Quebec (Canada) or Japan
- Threshold fee charged for some amounts
You likely know PalPal’s digital service for online purchases, but you may not know that it supports wireless overseas transfers. Its popularity around the world makes it possible to transfer up to 20 currencies across more than 200 countries. While PayPal is like a digital banking service, its rates are competitive compared with most banks and financial institutions, making it a good choice to avoid headaches.
- Minimum rate of $0.02
- Available in 203 countries
- Offers recurring payments
- Excellent for smaller transfers
- Multiple digital safeguards in place to protect against fraud and hacking
- Fees are proportionate to the amount transferred. The larger the transfer, the more money they take.
- Fees vary by location of transfer and method, with better deals for using a PayPal credit card or account
Who else has a money-back guarantee?
Other services with a money back guarantee if your money transfer does not work out:
Compare minimum and maximum transfer limits
|Provider||Minimum transfer amount||Maximum transfer amount|
|World First||$250||No limit|
|Travelex International Payments||$500||No limit|
|Currency Online||$0||No limit|