Unfortunately, you won't be able to sign up for an account in Australia unless you have a bank account in the US or Canada. At this time, Xoom has no plans to expand into Australia, but that doesn't rule it out. You can check out the other options you have for sending money overseas from Australia here. Currently, we recommend Revolut for smaller transfers and TorFX for larger ones.
If you do have a US or Canadian bank account, you can send money to Australia as well as dozens of other countries.
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.
The total cost of a Xoom transfer varies between online and agent locations. But for online transfers, fees depend on:
Here's an example of the fees you might see while receiving AUD$1,000 through Xoom from the following sending countries:
| Sending country | Payment method | Fee |
|---|---|---|
| UK | PayPal balance or bank account | GBP 0.00 |
| US | PayPal balance or bank account | USD 0.00 |
| Canada | PayPal balance or bank account | CAD 2.99 |
| France | Credit or debit card | EUR 1.99 |
Accurate as of 14 November 2023
Xoom's exchange rate changes depending on the amount of money you're sending. Use Xoom's fees and exchange rate calculator to see the fees that apply to your transfer destination and amount.
Turnaround time on your Xoom transfer depends on how you pay and how the money is received:
Pay for your transfer with a credit card, debit card or PayPal balance. You'll pay more in fees, but your money arrives in as little as 15 minutes, if not instantly. Your credit card might charge you an additional cash advance fee, further increasing the cost of your total transfer. Some destinations may take longer to receive money, even when paying by credit or debit card.
Using a bank account to pay for your transfer is often the cheapest way to send money, but it's the slowest. Sending money to your recipient's bank account may also delay the transfer time.
Xoom can send to more than 150 countries and territories worldwide. Xoom can be sent from residents in the United States, Canada, the UK, and select countries in Europe. You can look at the full list of currencies here, but some of the popular currencies that Xoom supports include:
Xoom separates accounts into 3 levels based on how much verification you've given. For US residents, it looks like this:
| 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 |
|
Xoom is a PayPal service and is owned and operated by PayPal. Users in Australia who already have and use PayPal accounts can integrate their existing accounts into Xoom to send money around the world. Recipients of Xoom transfers do not need to create a PayPal account in order to receive money.
Review of PayPal's fees and how it works
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:
Reviews accurate as of 14 November, 2023.
| Trustpilot | 2.2 out of 5 – based on 22,610 customer reviews |
| Monito | 6.4 out of 10 – based on staff reviews |
Here's what we found when we sent live transfers to Mexico and France through Xoom:
Xoom transfers can be paid for in a few different ways, including:
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.
Before you can send funds with Xoom in Australia, 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 licence or passport, and a recent bank statement if you want to send higher amounts. These must show that you're a resident of an eligible country to send money with Xoom.
Xoom has an app on both Google Play and the App Store. The app makes it possible to:
| Ratings accurate as of November 14, 2023 | |
|---|---|
| Google Play Store | 4.8 out of 5 – based on 305,418 customer ratings |
| Apple App Store (USA) | 4.8 out of 5 – based on 1,060,227 customer ratings |
More on the best money transfer apps
Xoom's money transfer options are worth considering when you need to send money overseas. Just make sure to compare its services with those of a number of other providers in Australia before deciding on the right money transfer company to handle your transactions.
We currently don't have that product, but here are others to consider:
How we picked theseWe review money transfer providers for different features to assign them a score out of 10. The higher the score, the more competitive the product.
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