Transfers typically take
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Xoom money transfer review
Learn how this PayPal-owned company can help you move money around the world.
Our Verdict
Xoom is PayPal’s answer to global money transfers and an easy next step if you already have a PayPal account. Depending on the country, you can even choose how your funds reach your recipient, be it bank account, debit card, cash pick up or even straight to their home. This is what makes Xoom hugely convenient.
However, what you gain in ease is lost on costs as you’ll be saddled with Xoom’s poor exchange rates and additional transfer fees. And these costs vary widely between currencies and where you’re based. All in all, Xoom seems much less appealing when compared to other specialist transfer services.
Why should I consider Xoom?
- Money-back guarantee. Xoom offers a money-back guarantee to refund your transaction in full if the money you send doesn’t arrive at your recipient.
- Multiple transfer options. You can choose between sending funds via a bank transfer, sending cash for pickup or having cash delivered directly to your recipient’s door.
- Transfer tracking. You’ll receive a text message when your money arrives. Xoom will also email you and your recipient to keep you both informed of the transfer’s progress. You can also log into your account to track your transaction, or call customers service and receive an update from a live representative.
- 24/7 support. Phone and email support is available 24 hours a day, seven days a week if you need help with a transaction.
What to be aware of
- Requires government-issued ID. You’ll need to upload a government-issued ID, like a license or passport, and a recent bank statement to send money for the first time.
- Transfer limits. Xoom has limits in place for how much you can send. It operates on three different levels, with customers required to provide additional information if they want to send larger amounts.
- Exchange rate markup and fees. Xoom adds markup on the mid-market rate and charges additional fees.
How much are Xoom’s fees?
Xoom’s fees depend on what type of transfer you are making and how you plan to pay for your transfer. Here’s a roundup of some of the factors that could impact how much you have to pay:
- Payment. Paying by bank transfer is the cheapest option while paying by credit card will have higher fees. Additional cash advance fees may also be charged to your credit card.
- Recipient’s location. Where you are sending funds will also affect the fees you are charged.
- Amount. Different fees are charged based on how much you’re sending.
- Delivery. To send cash, fees are generally higher, while receiving money to a bank account is often less expensive.
Here’s an example of Xoom fees you might see while sending $1,000 to Mexico or India, accurate of as March 1, 2022.
| Destination | Payment method | Fee |
|---|---|---|
| Mexico | PayPal balance or bank account | $0 |
| Mexico | Credit or debit card | $3.99 |
| India | PayPal balance or bank account | $0 |
| India | Credit or debit card | $30.49 |
You can use Xoom’s Fees and Exchange Rate Calculator to see the fees that apply to your transfer destination and amount.
How are Xoom’s exchange rates?
The exchange rate offered by Xoom may change depending on the amount of money you’re sending. Here are the rates when we checked on March 1, 2022 for sending USD to INR through Xoom:
| Sending amount | Xoom rate | Mid-market rate | Markup |
|---|---|---|---|
| $10 – $50 | 73.4456 | 75.59 | 2.92% |
| $51 – $1,989 | 74.1940 | 75.59 | 1.88% |
| $1,990 – $1,999 | 74.2701 | 75.59 | 1.78% |
| $2,000 – $9,999 | 74.6432 | 75.59 | 1.27% |
| $10,000+ | 74.8678 | 75.59 | 0.96% |
As we have done above, it is best to compare the displayed rate on Xoom with the current mid-market rate to work out the size of the margin charged. You can also then use the interbank rate as a benchmark for comparing rates of other money transfer providers.
What are the ways I can send money abroad with Xoom?
Xoom has three ways you can send money abroad, including cash pickup options which means your beneficiary could receive their funds almost instantly.
- Bank deposit. You can send money to bank accounts in more than 150 countries and territories worldwide.
- Cash pickup. Send your funds as a cash pickup at thousands of partner locations around the world.
- Doorstep delivery. Xoom also allows you to have cash delivered directly to your recipient’s door.
How to send money transfer with Xoom
Before you can send funds with Xoom, you must register for a free account with your personal contact information. While you don’t need to enter a Social Security number at sign-up, Xoom does require you to upload a government-issued ID, like a license or passport, and a recent bank statement if you want to send higher amounts.
What are Xoom’s payment options?
Xoom transfers can be paid for in a few different ways when sending from the United States, including:
- Bank account transfer
- Credit or debit card
- PayPal balance
Each payment method may have different fees depending on your sending destination, but overall paying with a bank account or PayPal balance tends to be the cheapest option.
How long does an international transfer with Xoom take?
Transfer times depend on how you pay and how the money is received:
Fastest option – nearly instant
While you may pay more in fees when you use a credit or debit card to pay for your transaction, your money should arrive in as little as 15 minutes, if not instantly. Just keep in mind, some destinations may take longer to receive money, even when paying by credit or debit card.
Cheapest option – up to 4 business days
Using a bank account to pay for your transfer is often the cheapest way to send money, but it’s the slowest. It can take up to 4 business days for your money to arrive.
What are Xoom’s sending limits?
Xoom separates accounts into three levels based on how much verification you’ve given. For US residents, it looks like:
| Level | 24-hour limit | 30-day limit | 180-day limit | Required information and documents |
|---|---|---|---|---|
| 1 | 2,999 USD | 6,000 USD | 9,999 USD | Email and phone number |
| 2 | 10,000 USD | 20,000 USD | 30,000 USD | Social Security number or passport |
| 3 | 50,000 USD | 60,000 USD | 100,000 USD |
|
Is Xoom safe?
Xoom’s parent company, PayPal, is one of the most well-known payment systems. Xoom has additional measures to protect your money while using the service:
- Encryption: Xoom uses 128-bit data security encryption for its entire website.
- Regulation: Xoom shares all the same regulations and licenses held by PayPal.
- Money-back guarantee: Xoom guarantees that your money will be received by your recipient, and if it isn’t the transaction will be refunded in full.
How does Xoom compare to other money transfer services?
If you want to see how Xoom compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.
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Ask a question
Are any of these services an acceptable way to transfer my SSA pension check directly to a foreign account in South-East Asia where I currently reside?
Hello Phillip,
Thank you for your comment.
There are money transfer services that can let you send or transfer money to Southeast Asia. Please note that since checks can bounce, it can take several weeks (or more) to find out that it’s cleared. I suggest that you please get in touch with these services and see if they can take care of this kind of transfer for you.
Anyway, there’s an easy way to get your SSA pension check to be sent abroad, by doing an electronic fund transfer to your local foreign bank account in the foreign country. This means it should be deposited into your US bank account and then get transferred to a bank account in Southeast Asia.
Not all foreign banks will accept direct deposits of U.S. Social Security checks, so if you want your Social Security delivered to a local bank, make sure to choose one that does. You can check some banks in Southeast Asia that can accept checks issued from the US.
Regards,
Jhezelyn
Hi, how do I schedule a transaction ahead of time using “Xoom”?
Hi Geek,
Thank you for getting in touch with finder.
Please contact Xoom directly for any changes of payment schedule/transaction you have with them.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
I will probably be paying for a large garment order through xoom. If the supplier does not deliver or tries to scam me is the money insured or would I have any recourse to get the money back?
Thanks
Nick
Hi Nick,
Thank you for reaching out to finder.
Xoom offers a money-back guarantee to refund your transaction in full if the money you send doesn’t arrive to your recipient. If you are looking into a money back guarantee policy for an item that you wish to purchase, you may need to check with the company that you are dealing with if they have this policy available. Hope this helps!
Cheers,
Reggie
I have Lima (Peru) Scotiabank and Interbank account,can I use Xoom services?
Hi Javier,
Thanks for leaving a question on finder.
Peruvian PEN is listed as available currencies for Xoom. You can definitely use it. Before you can send funds with Xoom, you must register for a free account with your personal contact information. While you don’t need to enter a Social Security number at sign-up, Xoom requires you to upload a government-issued ID — like a license or passport — and a recent bank statement to send money, which could deter those without either form of ID.
The next step in the process is to enter details about your recipient, including their name, address and bank account details. You’ll also have to select whether you will pay via credit card, debit card or bank account and enter your payment details.
After reviewing the details of your transaction, including the exchange rate and fee that applies, you confirm and send the funds. Xoom will notify both you and your recipient of your transfer’s progress.
Cheers,
Joel
Thanks for the info.One more,my bank acc. en Peru is in american dollars.I will
receive the same ?
Hi Javier,
Yes, it is possible to receive the money in USD since you have a USD account in Peru. When sending the money, the sender should indicate that you will receive the money in USD.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
If I have a Singapore Citibank IPB account, can I use Xoom services?
Hi Brian,
Thanks for your inquiry
Yes, Xoom has a partnership with Singapore Citibank that allows account holders to use Xoom’s Money Transfer Services. Please check Xoom Singapore’s website for more information about this.
Hope this information helps
Cheers,
Arnold