Choosing the right international money transfer service can save you a lot of money and time. Xoom is popular, but other services might offer better value. This guide will show you the best money transfer services, focusing on fees, speed, and exchange rates.
By looking at Xoom alternatives, you can find services that are cheaper and faster than banks. Banks often charge high fees. Let’s explore these options to help you choose wisely.
Wise: A Cost-Effective and Transparent Solution
Wise (formerly TransferWise) is a top choice when looking for alternatives to Xoom. It offers low-cost international transfers to over 70 countries. Fees are often less than 1% of the transfer amount. Wise also provides mid-market exchange rates, ensuring a cost-effective solution without hidden fees.
Wise is known for its transparent money transfer fees. It clearly shows all costs and exchange rates upfront. This clarity is why many users choose Wise, knowing exactly how much their recipient will get. Wise’s TrustPilot score of 4.2/5 shows it’s a trusted and user-friendly service.
Wise’s money transfers are fast, often instant with card payments. In contrast, Xoom is available in over 160 countries but has less competitive exchange rates and unclear fees. Monito notes Xoom hides 74% of its costs and has a lower TrustPilot score of 1.9/5.
Here’s a comparison of Wise and Xoom:
| Provider | Countries Served | Fee Structure | Transfer Speed | TrustPilot Score |
|---|---|---|---|---|
| Wise | 70+ | Transparent fees, mid-market rates | Instantaneous with card payments | 4.2/5 |
| Xoom | 160+ | Markup on exchange rates, hidden fees | Minutes to a few days | 1.9/5 |
Wise is regulated by the UK’s Financial Conduct Authority, ensuring user funds are safe. It can handle transfers up to $1 million via ACH. This makes Wise a great choice for both personal and business transactions, known for its low-cost and transparent fees.
Guide to Apps Like Xoom
Many apps like Xoom offer great features for sending money abroad. We’ll look at key aspects like coverage, cost, speed, and how easy they are to use.
Western Union has over 500,000 agent locations worldwide. It supports many payment methods. This makes it a strong choice for sending large amounts of money.
MoneyGram is fast, sending money in over 200 countries in one day. It’s great for urgent transfers. MoneyGram also has low fees and is easy to use.
OFX is best for big transfers, supporting over 50 currencies. It offers 24/7 customer service. It’s perfect for big business or personal transfers.
Remitly has two options: Economy and Express. Express is very fast, almost as quick as Xoom. Remitly is known for being reliable and clear about fees.
Revolut and Wise are also top choices. Revolut has accounts for over 30 currencies, great for travelers. Wise charges a fixed fee, making it clear about costs.
Google Pay has a 4.5 rating, showing users love it. Cash App, PayPal, and Zelle all have 4.0 ratings. Venmo, known for peer-to-peer, has a 3.0 rating.
Apple Pay and Samsung Pay are also good. They don’t charge fees and work for in-store and online payments. Samsung Pay works in 17 countries.
Each app has its own benefits and drawbacks. Think about speed, cost, and how easy it is to use. For more on apps like Xoom, check out this guide.
Currencies Direct: A Reliable Choice for Large Transfers
Currencies Direct is a top choice for handling big international money moves. It’s known for being a reliable money transfer service. The service has low or no fees, which saves money on big deals like business payments or buying property overseas.
Currencies Direct offers many foreign exchange options. It supports senders from over 170 countries and handles 50 different currencies. This makes it easy and safe to send large international transfers. Users get great exchange rates and personal account help. Plus, the company is known for its excellent customer service.
The company is serious about keeping your money safe. It uses top-notch encryption for every transaction. This gives users peace of mind. To see how Currencies Direct stacks up against other top services, check out this link.
Choosing Currencies Direct means your big money moves are handled well. They are cost-effective and efficient. Plus, you get the support you need for big financial moves. With Currencies Direct, you get secure, easy, and affordable international money transfers.
