4 Alternative Money Transfer Companies to Xoom

Before you decide to use Xoom for an international payment, compare a few options to make sure you get the very best available fees and exchange rates. There are many different online international payment providers available, and signing up for an account is usually pretty pain free - which means there’s no reason not to hunt out the best deal on your international transfer.

What is Xoom?

Xoom international transfers is an online payment service, and part of the PayPal group. Xoom specializes in international payments, which can include sending remittances to friends and family overseas, paying cross border bills and invoices, and even topping up a prepaid mobile phone account abroad.

This guide will focus on the international transfer services available from Xoom. International payments with Xoom are made online or in the Xoom app and can be received in a few different ways depending on the destination country:

  • Send money direct to a recipient’s bank account
  • Send money to a debit card or mobile wallet
  • Send money to be collected in cash at an agent location

It’s also worth noting that  some fees, options and limits related to your account will depend on your country of residence. The information in this guide is based on US Xoom account profiles - check out the details for your country if you live elsewhere.

4 Xoom alternatives

1. Remitly

Create a Remitly account online and send money all over the world as a bank deposit, for cash pickup, home delivery or to a mobile money account. The services available do vary between destination countries, so check the options for your payment online.

Transfers made with the Express service or for cash collection are usually very fast so you can get your money to where it needs to be, in double quick time. If your international payment isn’t urgent you can also choose the Economy service which costs less, but may take a couple of days to arrive at its destination.

Learn more about Remitly

2. Wise

Wise (formerly TransferWise) logo

Send money to over 80 countries using the real mid-market exchange rate every time, with Wise. You can create your account online or in the Wise app, and send money for direct delivery to your recipient’s bank account. It’s easy to model your payment to see the costs - and because the exchange rate used doesn’t include any markup, you’ll always know the full price you’re paying up front.

Wise also offers an online international account to hold foreign currency balances, send and receive payments, and spend with a linked debit card at home or abroad. Opening an account is free, there’s no minimum balance or service charge - just low, transparent fees per transaction.

Learn more about Wise Money Transfers

3. OFX

You can send payments in 50+ currencies with With OFX, fix future exchange rates, and also access scheduled transfers for regular payment requirements. You can send money 24/7 online and in the OFX app, and you’ll have an OFX advisor on hand if you need any help or support.

OFX transfers are made using wire transfers and ACH payments only - you won’t be able to pay in cash, by check or using a credit or debit card. Double check if your own bank will charge you a fee when you wire your payment to OFX, so you have a clear idea of the costs involved.

Learn more about OFX

4. TorFX

You’ll need to create a TorFX account to see the charges and get a quote for your payment. But as a currency specialist, TorFX can offer the support of an account manager, and some more sophisticated currency services such as market orders and forward contracts if you need them. 

TorFX can help you arrange personal or business transfers direct to bank accounts all over the world. At the time of writing, TorFX has an impressive 4.9/5 trust score based on customer reviews submitted on Trustpilot

Learn more about TorFX

Xoom international transfers are easy to make, and offer the ease of use you expect from a PayPal company. You can get set up quickly and start making payments - although you’ll need to submit identity documents to make high value payments or if you send money frequently.

Whenever you need to send money overseas it makes good sense to check out a few different ways to arrange your transfer. Different providers offer different services, which may also vary depending on the country your recipient is in. By comparing some alternatives to Xoom before you place your transfer, you’ll be able to easily find an option which gives you the perfect balance of cost and convenience.


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By Ileana Ionescu Updated January 14th, 2022