Xoom Review

 

Introduction

Xoom provides ultra-fast money transfer processing, whereby funds often arrive within seconds. It wields top-tier 128-bit encryption security to keep all funds safe and offers competitive exchange rates, while its operations are faster and less expensive than most mainstream banks.

Fee: ? $4.99 to $10.99
Bank Partner: ?
Speed: ? 1-3 days
Country Notes N/a
Local settlement: ? Worldwide
Transfer methods ? Phone and online transfer services
Regulated By: ? FinCEN
General Notes N/a

The pros and cons of using Xoom

pros

Actively reply to any issues or queries on Trustpilot

Apps on iOS and Android can be used to transfer money on-the-go

Transferred money delivered via bank account, reload airtime, cash or can be used to pay utility bills

Same-day delivery available in many countries

$10,000 daily maximum limit

cons

Higher markups on exchange rates than a lot of competitors

Minimum fee of $4.99 for credit cards

No live chat feature for customers

Xoom

 

Xoom Products for Individuals

Xoom offers a fast, easy-to-use international money transfers service to individual customers who can use it to send money to 73 counties. The platform can be used to top-up smartphones, send money to friends and family, and pay international bills.

A key feature of Xoom is that transactions are usually processed exceptionally rapidly, with money being transferred to your recipients more or less instantaneously – although this will depend upon what means you choose to pay with and the method of delivery. The methods available are via the company website, the Xoom smartphone app, debit or credit card, and bank account to bank account.

Currency exchange rates are admirably competitive and the company’s top-tier security technology ensures your funds are thoroughly protected. Xoom uses 128-bit encryption to secure customer funds.

Users can keep track of their transfers with ease. Xoom will send an SMS notification to your smartphone when the money arrives and will also alert both customer and recipient via email of the transfer’s progress.

Xoom has a money-back guarantee for all its customers, meaning that it will refund your transfer in full if it fails to arrive on time. Customer support is excellent, with 24/7 availability via phone or email.

The company does charge fees for its international money transfers transactions but they vary according to several factors, including the method of transfer, where customers are sending their money and the amount of money transferred. Sending money via bank account to Mexico, for example, will typically incur a fee of $4.99, but a similar transaction to India using the bank account method will cost $0. Credit or debit card transfer fees tend to be more expensive ($24.99 and $30.49 respectively).

The minimum transfer limit is $10, while the maximum transfer limit for any one day is $10,000. Customers may transfer up to $25,000 over 30 days, and up to $60,000 over 180 days.

Due to its impressively accurate delivery estimates and the rapidity of its transaction processing, Xoom has earned a highly creditable 4-star rating on Trustpilot. It won in four separate categories of the 2017 finder.com Money Transfers Awards: Outstanding Product, Fastest Transfer, Best User Experience, and Most Convenient. It also is also certified by TRUSTe and received an A+ rating from the Better Business Bureau.

 

Xoom Products for Businesses

Xoom focuses exclusively on providing international money transfer services for individual customers and currently has no business-specific offerings.

 

About Xoom

Currently headquartered in San Francisco, USA, Xoom was founded in 2001 and has risen to become an established and trusted pioneer in the international money transfers market.

In 2015, the company was acquired by cross-border payments colossus PayPal, and now operates as a separate service within it while harnessing its global reach. Customers who already have a bank account linked to PayPal can use it to transfer money via Xoom. It is not, however, necessary for customers to have a PayPal account. They can simply use Xoom directly by setting up a Xoom account – a process that takes under five minutes.

Amount Received £ 0.00
£ 0.00 Avg. Saving vs. Banks ?
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Compare Other Currency Rates

Advanced: compare to quote from your bank ?

Other International Money Transfer Quotes

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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Amount Received
USD $13,778.79
GBP £198.32
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Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
USD $13,629.79
GBP £91.32
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OFX (UK)

Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

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Amount Received
USD $13,746.00
GBP £174.77
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Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
USD $13,855.37
GBP £253.32
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Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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Amount Received
USD $13,799.67
GBP £213.32
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Western Union Business Solutions

Est. 2009

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.

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Amount Received
USD $13,716.12
GBP £153.32
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RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Amount Received
USD $13,806.64
GBP £218.32
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Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
USD $13,812.21
GBP £222.32
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Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
USD $13,806.64
GBP £218.32
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Rates From The Average UK High Street Bank

Est. 1934

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

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Amount Received
USD $13,466.59
No saving vs. banks

PayPal

Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

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FXcompared Rating
Amount Received
USD $13,394.63
No saving vs. banks

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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.