Looking for better alternatives to Xoom?
Transferring money across borders has simplified considerably over the last two decades, mainly because of technological advances. This field is no longer the domain of banks and high-street brokers – there being several reputable overseas money transfer companies that vie for your attention. If you, like many others, are wondering if you should go with Remitly or Xoom for your next international funds transfer, reading through this detailed comparison will do you good.
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One way to look at the Xoom vs. Remitly comparison is to check what their customers have to say, and Trustpilot serves as an ideal platform to do this. While Remitly averages at 8.8 out of 10, Xoom is not far behind, averaging at 8.6 out of 10. With little differentiating the two on this front, comparing other aspects becomes crucial.
A popular currency pair for both Remitly and Xoom is the US Dollar to Indian Rupee (USD-INR).
This Remitly vs. Xoom comparison is broken down into multiple sections so you can make a selection according to your needs.
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This aspect of the Remitly vs. Xoom comparison requires your particular attention because both companies follow different fee structures, with multiple factors at play.
- The amount you wish to transfer and the destination country affect the fees you need to pay.
- You get to choose from ‘Economy’ and ‘Express’ transfers, which also have a bearing on the fees.
- ‘Economy’ transfers to some countries come with no fees.
- You will need to pay additional fees if you use a credit card.
- The amount you transfer, the destination country, and the desired payment method affect the fees you need to pay.
- Making payments via bank accounts are more cost-effective than paying via debit or credit cards.
- Transfers to some countries come with fee-free predetermined minimum limits.
- The Xoom calculator gives you an easy way to check the cost of your transfer in advance.
Ease of Use
Registering with Remitly or Xoom is simple and takes little time, although you will need to verify your identity with both companies. Both offer cash pickup as a transfer option, although Xoom boasts of a wider network.
- Remitly operates dedicated websites for the U.S., the UK, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, and Sweden.
- You may access the Remitly website in English, French, Spanish, or Vietnamese.
- Cash pick up is an option in the Philippines and in some Central and South American countries.
- You may pay for your transfer via an electronic bank transfer, a debit card, or a credit card.
- The company provides apps for devices that run on iOS and Android.
- Access to the Xoom website comes in English, Spanish, French, Portuguese, Chinese, and Vietnamese.
- You can pay for your transfer only in U.S. dollars.
- Destination country dependant transfer methods may include bank account transfers, transfers to cash pick up centers, and topping off cellular phones.
- If you live in the U.S., you may use Xoom to pay bills from other countries.
- It provides apps for iOS and Android.
Regular Overseas Payments
If you wish to schedule transfers, selecting either Remitly or Xoom will do you no good because both do not offer this feature yet. Some of the other leading players in this field who let you schedule transfers include Currencies Direct, HiFX, OFX, and TorFX.
- Find out more about Xoom Competitors and Alternatives.
- Who will yield a clear winner between Xoom vs OFX Comparison?
- Check out which company is better, CurrencyFair or Xoom.