The process of carrying out an international money transfer has simplified significantly over the last couple of decades, mainly because of the arrival of several FinTech players in this realm. However, finding a service provider that suits you best is easier said than done. This WorldFirst vs. Xoom comparison gives you all the information you need to select the right company based on your individual requirements.
A good place to begin the Xoom vs. WorldFirst comparison is to take a look at how previous customers of these companies feel about the services they have received. While Xoom averages at 9.4 out of 10 on Trustpilot, WorldFirst gets and average score of 9.6 out of 10 on Feefo.
Given that both companies are rated well by their customers, you need to pay attention to various other aspects in selecting either Xoom or WorldFirst. These include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the WorldFirst vs. Xoom comparison tilts the scale in favor of the former because if offers fee-free personal transfers. However, WorldFirst has minimum transfer limits in place for some countries.
- Transfer fees vary depending on the type of account you open.
- A transparent pricing band applies over existing mid-market rates, and it varies according to estimated annual transfer amounts (details in table below).
- Where you live might affect transfer limits.
- Businesses and online sellers are required to pay nominal fees.
- Transfer fees may vary depending on where the recipient lives, the amount you wish to transfer, the mode of payment, and the transfer method.
- Paying for your transfer using a card tends to come with an added fee.
- Fee-free limits apply on some destination countries.
- An online calculator gives you easy means to check how much your transfer might cost.
WorldFirst Money Transfer Fees Table
|Annual Transfer Amount||£0-£500k / AUD$0-$750K||£500k-£5M / AUD$750k – $7.5M>||£5M+ / AUD$7.5M|
|Real Exchange Rate Plus Fee||0.50%||0.25%||0.15%|
Ease of Use
This section of the Xoom vs. WorldFirst comparison rates both companies well. Registering with them is fairly simple, as is using their services. Both companies provide apps for devices that run on iOS and Android.
- Depending on where you live, you may sign up as an individual, a business, or an online seller.
- The company operates multilingual region-specific websites for the UK, the Netherlands, France, Australia, Hong Kong, Singapore, Japan, and China.
- Acceptable payment methods include bank account transfers, debit cards, credit cards, BACS, and CHAPS.
- The company operates a multilingual website.
- It serves only individuals.
- It accepts payments only in U.S. dollars.
- You may pay via a bank account transfer, a debit card, or a credit card.
- Destination country-specific transfer methods include transfers to bank accounts and agent locations.
- You may use the services to this company to pay overseas bills and reload mobile airtime from different countries.
Regular Overseas Payments
This aspect might have a bearing on whether you may select WorldFirst or Xoom. While WorldFirst lets you schedule transfers easily, Xoom is yet to start offering this service.
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