We compare these two online transfer providers side by side to see which comes out on top.
If you want to send an online money transfer, WorldRemit and XE both offer international transfers to more than 145 countries. However, while WorldRemit offers a range of payout methods to suit the needs of your recipient, XE specializes in fast bank transfers.
Compare WorldRemit to XE
Quick verdict
WorldRemit vs. XE: How they work
WorldRemit
To send an international transfer with WorldRemit, the first step is to sign up for a free account. You’ll then need to specify the currency and amount you want to send, as well as who you’ll be sending it to. You can pay for your transaction via bank account transfer, credit/debit card, Android Pay or Apple Pay.
XE
To send a transfer with XE, sign up for a free account and select the currency and amount you want to send. You’ll then need to enter your recipient’s name and bank account details, select your payment method and confirm your transaction details. The funds you send to XE will then be transferred into your recipient’s bank account.
Why we like: WorldRemit
Why we like: WorldRemit
Send money to 140+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.
- Use promo code FINDER to send your first transfer with no fee.
- Easy to use with round-the-clock help.
- Get cash to family and friends in minutes.
Which has lower fees?
WorldRemit
WorldRemit charges a fee on each international money transfer, but the size of the fee depends on multiple factors:
- How much money you send.
- Where you send it.
- The type of transfer you send.
Bank transfers attract the lowest fees, often around $3.99 per transaction, but we recommend that you use WorldRemit’s online calculator to work out exactly how much your transfer will cost.
XE
XE doesn’t charge any fees or commissions on international money transfers.
Winner: XE
With no transaction fees to speak of, XE is the clear winner in this category.
However, please note that this doesn’t necessarily mean transfers with XE are always cheaper than WorldRemit, as you’ll also need to consider the exchange rate (see below) to determine which service offers the best value for your money.
Which offers better exchange rates?
WorldRemit
In addition to fees, WorldRemit makes money by adding a margin on top of the mid-market exchange rate you see listed on Google. This margin varies depending on the currency you send but is commonly in the 0.7%–3% range. For example, if you wanted to send a transfer to Australia:
- If the mid-market rate is 1 USD = 1.40012 AUD
- WorldRemit’s rate might be 1 USD = 1.38744 AUD
XE
XE Money Transfer also adds a margin on top of the mid-market exchange rate. This margin is an average of 0.62% on some of the world’s most popular currencies. Using the same example as we did for WorldRemit:
- If the mid-market rate is 1 USD = 1.40012 AUD
- XE’s rate might be 1 USD = 1.39347 AUD
Winner: XE
XE generally offers better exchange rates than WorldRemit, which means that more of the money you send will end up in your recipient’s pocket.
Which is faster?
WorldRemit
The time it takes for the money you send to arrive depends on two factors: the type of transfer you send and the country you send money to. Expect a transfer to take:
- Bank transfer. Instant transfers to selected banks, but a processing time of 1–3 working days for other transactions.
- Cash pickup. Available to collect instantly.
- Mobile money. Instant or near-instant.
- Airtime top-up. Instant or near-instant.
- Home delivery. 24 hours to 7 days.
XE
Most transfers with XE are completed the same day, but your transaction may take longer in certain circumstances. When setting up your transfer, XE will confirm a payment date with you — this is the earliest date that your transfer will be completed.
Winner: WorldRemit
If you need to send money overseas ASAP, WorldRemit’s range of instant or near-instant transfer options make it a better choice.
Which offers more options?
| Payment Methods | Minimum and maximum transfers | Delivery methods | Transfer speeds | Countries and currencies | |
|---|---|---|---|---|---|
| WorldRemit | Bank transfer, Credit card, Debit card, Android Pay, Apple Pay | $1 minimum; $9,000 maximum | Bank transfer, Mobile wallet, Cash pickup, Airtime top-up, Door-to-door delivery | Within an hour | 145+ countries |
| XE | Bank transfer, BPAY | $1 minimum; No maximum | Bank transfers | 3 – 5 days | 60+ currencies and 170+ countries |
Case study:Sending $1,000 to the UK
Let’s see how WorldRemit and XE compare to one another in a real-life transfer scenario. In this example, we’ll compare the cost of sending a $1,000 bank account transfer to the UK.
| WorldRemit | XE | |
|---|---|---|
| Transfer fee | $3.99 | $0 |
| Exchange rate | 1 USD = 0.76799 GBP | 1 USD = 0.77094 GBP |
| Transfer speed | 1 business day | 1 business day |
| Total received | £764.92 | £770.94 |
As you can see in the table, using XE instead of WorldRemit in this example would save you $3.99 in transfer fees and also allow you to send an extra £6.02 to your recipient.
Compare other transfer services
Bottom line
With no transfer fees and exchange rates typically better than those on offer from WorldRemit, XE generally offers better value for money. However, if you need to send a quick transfer or send something other than a bank transfer, WorldRemit is worth considering.
That said, it’s important to compare a wide range of international money transfer services before deciding which one is the right choice to handle your next transaction.
