xoom-vs-worldremit-featured1

WorldRemit vs Xoom

Which online money transfer service offers the best exchange rates, lowest fees and fastest transactions?

WorldRemit and Xoom both offer a convenient online transfer service, multiple payout methods and the ability to send funds to more than 100 countries around the world. But is one better than the other?

To find out, we're comparing WorldRemit and Xoom on the basis of exchange rates, transaction fees and transfer times. Keep reading to learn who comes out on top.

The fees and rates used in this comparison are accurate as of 8 February 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 Within an hour AUD 3.99 0.697 USD
694
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details

Compare up to 4 providers

The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Xoom is not available in Australia

At the time of writing, the only way to sign up for a Xoom account in Australia is if you have a US or Canadian bank account.

Which has lower fees?

WorldRemit

You'll be charged a fee when you send money overseas with WorldRemit, but the size of the fee is calculated based on:

  • Your transaction amount.
  • Where you're sending money.
  • The transfer method you select.

Bank transfers are the most affordable option and attract a flat $3.99 fee per transaction in most cases. However, fees do vary depending on your transfer circumstances, so it's a good idea to use WorldRemit's online calculator to double-check the total cost of your transaction.

Xoom

Xoom also charges transaction fees but there are four factors that affect the fee amount:

  • How you pay for the transfer.
  • The transaction amount.
  • Where you send the money.
  • The currency being transferred.

If you send a large transfer and pay using your bank account, in some cases your transfer will be fee-free. For example, if you want to send a $1,000 transfer from the USA to India, the following fees apply:

  • If sending a bank transfer: $0 if you pay with your bank account or $30.49 if you pay with debit or credit card.
  • If sending a cash pick-up: $4.99 if you pay with your bank account or $30.49 if you pay with debit or credit card.

Trophy icon
Winner: Tie

While WorldRemit's fees are often marginally lower, the fact that Xoom offers fee-free transfers on large transactions to certain destinations (when you pay with your bank account) means this one is a tie.

WorldRemit and Xoom both offer online calculators where you can work out the cost of a specific transfer, including not just the fee but also the exchange rate, so use these tools to help you decide which is cheaper.

Which offers better exchange rates?

WorldRemit

The margin is the difference between the mid-market exchange rate listed on Google and the exchange rate a money transfer provider offers to you. The lower the margin, and therefore the closer your quote is to the mid-market rate, the more money your recipient will get. WorldRemit's margin differs across all currencies but typically sits in the 0.7-2% range. For example, if you wanted to send a transfer from the USA to France:

  • If the mid-market rate is 1 USD = 0.8817 EUR
  • WorldRemit's rate might be 1 USD = 0.8652 EUR

Xoom

Xoom's margins are generally within a similar range to those offered by WorldRemit. Using the same example:

  • If the mid-market rate is 1 USD = 0.8817 EUR
  • Xoom's rate might be 1 USD = 0.8690 EUR

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Winner: Tie

It's impossible to nominate a winner in this category. While Xoom edges ahead on rates for some currencies, WorldRemit offers a slightly better deal on others.

Let's crunch the numbers: Sending USD$500 to India

To give you an example of how WorldRemit and Xoom compare, let's look at a hypothetical example of sending a USD$500 transfer from your bank account to your recipient's bank account in India.

WorldRemit Xoom
Transfer fee $0.99 $4.99
Transaction cost $500.99 $504.99
Exchange rate 1 USD = 70.81381 INR 1 USD = 70.7826 INR
Transfer speed Same day Within 4 hours
Total received (in INR) 35,406.90 35,391

As you can see in the table, sending this particular transfer with WorldRemit instead of Xoom would save you $4 in transfer fees and ensure that your recipient gets an extra INR 15.90.

Which is faster?

WorldRemit

WorldRemit offers a variety of transfer options, so transaction times vary depending on the option you select. Instant bank transfers are available to selected banks, but you'll need to wait 1-3 working days in other cases. Cash pick-up transfers are available to collect instantly, while WorldRemit lists mobile money and airtime transfers as "instant or near-instant". Home delivery transactions can take anywhere between 1 and 7 days.

Xoom

Xoom's transfer times vary depending on:

  • Where you send money.
  • The type of transfer you select.
  • Your payment method.

Xoom claims that the money you send is available for your recipient within minutes in most cases, but can take up to a few days.

Trophy icon
Winner: WorldRemit

With its wide range of speedy payment options, WorldRemit wins this category.

WorldRemit vs Xoom: How they work

Payment methods Minimum and maximum transfers Delivery methods Transfer speeds Countries and currencies
WorldRemit
  • Bank transfer
  • Credit card
  • Debit card
  • Android Pay
  • Apple Pay
  • Minimum: $1
  • Maximum: $50,000
  • Bank transfer
  • Mobile wallet
  • Cash pick-up
  • Airtime top-up
  • Door-to-door delivery
Within an hour 145+ countries
Xoom
  • Bank transfer
  • Credit card
  • Debit card
  • USD$10 minimum
  • Maximum varies by country and account verification level
  • Bank transfer
  • Cash pick-up
  • Home delivery
Within minutes - a few days 130+ countries

WorldRemit

To send an overseas transfer with WorldRemit, you'll need to sign up for a free account before entering the currency and amount you want to send. You'll then be asked to enter your recipient's details and what type of transfer you want to send: bank deposit, mobile wallet deposit, cash pick-up, airtime top-up or door-to-door delivery, as well as who you'll be sending it to. Accepted payment methods include bank account transfer, credit card, debit card, Android Pay and Apple Pay.

Xoom

If you want to send a transfer with Xoom, and you've got a US or Canadian bank account, you'll need to sign up for an account online or by downloading the Xoom app. When you initiate a transfer request you'll be asked to provide:

  • The currency and amount you want to send.
  • Your recipient's details.
  • How your recipient will access the money you send (Xoom offers bank deposits, cash pick-up transfers and home deliveries).

You can pay for your transaction using a credit card, debit card or bank transfer.

Bottom line

This was a very closely-fought battle and it was difficult to split the two contenders across all categories. WorldRemit comes out on top, but that doesn't necessarily mean it will offer the best value for money for your transfer – exchange rates and fees vary based on a wide range of factors, so get a quote from both providers to be certain which one is right for your needs.

Ultimately, make sure you compare several international money transfer services to find the best deal.

Looking for more options?

Use the comparison calculator below to see how WorldRemit and Xoom's fees, exchange rates and transfer times stack up against the features of a range of other money transfer services.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.696 USD
6,957
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.696 USD
6,957
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.696 USD
6,957
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 250 1 day AUD 0.00 0.696 USD
6,957
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 200 1 day AUD 0.00 0.695 USD
6,951
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.695 USD
6,949
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.695 USD
6,947
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.696 USD
6,956
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 1 1 day AUD 0.00 0.695 USD
6,950
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.699 USD
6,950
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Frequently asked questions

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International Money Transfer Offers

Important Information*
Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

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OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

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TransferWise International Money Transfers

Make online transfers at the mid-market rate with transparent fees in 45+ currencies.

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