Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

WorldRemit vs. Xoom

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

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) Learn More
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Xoom
Within an hour
From $4.99

View details
Xoom is an easy way to send money, reload phones and pay bills around the world.
loading

Compare up to 4 providers

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.

Trophy icon
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.

Send money internationally with WorldRemit

WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.

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

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

Trophy icon
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.

Trophy icon
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.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Dunbridge Financial
Dunbridge Financial
24 hours
$10

View details
Dunbridge Financial offers diverse transfer options to more than 120 countries.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
loading

Compare up to 4 providers

Frequently asked questions

More guides on Finder

  • UNest review

    UNest provides robo-advising for your child’s investment account for a monthly fee.

  • Review: Venmo app for cryptocurrency

    Venmo provides a convenient way to send money to friends, and now users can buy cryptocurrency like Bitcoin with as little as $1.

  • T. Rowe Price review

    Features, fees and complaints to consider before you apply for a T. Rowe Price account.

  • Fidelity Cash Management account review

    Fidelity’s cash management account lets you avoid unlimited ATM fees, but it earns little interest.

  • How to move to Canada

    Explore the options and programs that Canada has in place to help you move to Canada. 

  • The best debit cards for kids for 2021

    Support your child’s financial knowledge and teach the important real-life money skills in a safe and controlled way with a kids’ debit card.

  • Sigue international money transfers review

    Sigue offers speedy money transfers to 50+ countries, but you have to set up a transfer to see the transaction fees.

  • Best student credit cards

    Our top picks for cards across 7 student categories, including international students, first-time cardholders and cashback.

  • Usend review

    Usend combines money transfers, bill pay and mobile phone reloading.

  • Paysend review

    Paysend offers transfers to more than 70 countries through its app and online service.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site