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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.
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.
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.
MoneyGram allows transfers to many more countries than Xoom, with service to over 350,000 agent locations in 200 countries.
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.
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.
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.
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Hi. I need to transfer money from Miami bank to Brazilian bank. What service do you recommend for me?
Hi Andre,
Thanks for reaching out to finder.
If you want to transfer money overseas, you can send a wire transfer or use an independent money transfer company. However, typically, with bank transfers, you may pay higher fees and get lower exchange rates as compared to money transfer companies.
If you want to consider using a money transfer company, there are money transfer services to Brazil that you can compare to help you find the most suitable option for you.
Hope this helps.
Cheers,
Charisse