Several people remain unsure about whether they should use the services of XE or Xoom to send money overseas. This is mainly because both companies give their customers a secure way to carry out cross border fund transfers. However, might you benefit more by using one company instead of the other?
If you take the Xoom vs. XE comparison to Trustpilot, you will notice that customers of both companies rate their services well. While Xoom gets an average score of 9.4 out of 10, XE averages at 9.2 out on 10.
Given that both companies are almost at par when it comes to customer satisfaction, selecting Xoom or XE requires that you consider different aspects.
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the XE vs. Xoom comparison tilts the balance in favor of the former.
- XE does not charge any fees for personal transfers.
- Fees that intermediary banks charge in some instances are not in control of XE.
- Factors that may affect transfer fees include the destination country, the transfer amount, the payment method, and the transfer method.
- Payments made via bank account transfers tend to cost lesser than card payments.
- Transfers to some countries come with fee-free limits.
- You may get an indication of your transfer’s cost by using the company’s online calculator.
Ease of Use
Using the services of either Xoom or XE is fairly straightforward. Both companies let you initiate transfers using their websites or apps.
- You may use the XE website in English, French, Spanish, Portuguese, Italian, Swedish, Dutch, Arabic, Chinese, or Japanese.
- XE provides services for individuals and businesses.
- Acceptable modes of payment, depending on where you initiate your transfer from, include direct debits, bank account transfers, BPAY, CHAPS, BACS, and FPS.
- Website access comes in English, Spanish, French, Portuguese, Chinese, and Vietnamese.
- The company provides services only for individuals.
- You may pay for your transfer only in U.S. dollars.
- Payment methods include bank account transfers, debit cards, and credit cards.
- Transfer methods, depending on the destination country, include bank account transfers and transfers to agent locations.
- Xoom lets you reload mobile airtime from different countries.
- The company gives you the ability to make payments towards overseas bills.
Regular Overseas Payments
If you wish to schedule transfers, turning to XE or Xoom will not do you any good, because both are yet to start offering this feature. Some of the prominent companies that let you set up regular overseas transfers include WorldFirst, HiFX, TorFX, OFX, and Currencies Direct.
- Learn more about Xoom Competitors and Alternatives.
- Check out which company is better, Azimo or Xoom.
- Learn more about XE Competitors and Alternatives.