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WorldRemit vs. Xoom

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

Promoted

WorldRemit

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

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.

Product USFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Within minutes
From $4.99
Xoom is an easy way to send money, reload phones and pay bills around the world.
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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.

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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.

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.
1 - 12 of 12
Product USFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Airwallex
Airwallex logo
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
24 hours
$0
Save your time and money with Xe Money Transfer for business.
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Frequently asked questions

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Product USFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
Within minutes
From $0
Xe has fast transfers with low fees and a range of foreign currency tools.
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Within minutes
$0
Provides business solutions for small business owners in over 24 currencies worldwide. Try 3 months free of Spotify Premium when you sign up with PayPal.
Within minutes
From $8.16
Enjoy high maximum transfers into more than 40 currencies, while saving up to 90% over local banks.
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
24 hours
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
24 hours
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Within minutes
From $0
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.
Within minutes
From $0
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.
Within minutes
From $0
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.
Within minutes
From $0
Use PayPal to safely send money and receive payments from around the world in over 25 currencies with just an email address or mobile number. Try 3 months free of Spotify Premium when you sign up with PayPal.
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
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Written by

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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