Monito's Xoom Review: Exchange Rates, Safety, 2022 Score, and Why You Should Find Alternatives
Writing for Monito, Olivia is here to help users navigate the world of money transfer fees, exchange rates, and tips and tricks that help you make your best decisions.
As a digital nomad, Jan is an expert in cross-border money transfers and internationalization. At Monito, he shares his knowledge by writing content geared primarily towards a German-speaking audience.
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Xoom by PayPal is a poor money transfer provider (6.4/10), rarely recommended by Monito’s experts. Though it is a reputable provider (8.6/10) and is highly rated by its users (8.9/10), Xoom regularly has some of the worst fees and exchange rates in the market (1.2/10). Despite its overall rankings, Xoom is competitive in select corridors from the US, especially with cash pickups.
What Monito Likes About Xoom
- A good variety of pay-in and pay-out options;
- A large number of destinations around the globe;
- Transfers are fast and easy to make;
- Highly rated by customers.
What Monito Dislikes About Xoom
- Rarely the cheapest option;
- A limited number of origin countries;
- Exchange rate margin is not disclosed and 74% of fees are hidden.
Xoom is rarely a cheap option. Find stronger x-rates and lower fees:
Key Questions About Xoom Answered
Who is Xoom For?
Xoom is ideal for users looking to quickly send money from the United States to Latin America, the Philippines, and India. Although it doesn't always provide the best rates, its variety of pay-out methods, including phone airtime and bill payments to some countries, as well as its integration of PayPal, can make it situationally useful for specific use cases.
How Monito Reviewed Xoom's Services
To review Xoom, we applied Monito’s rigorous methodology to score Xoom along with 20+ of its most popular competitors, including Wise (formerly TransferWise), Remitly, and WorldRemit, to see how it fared. The scoring process began with setting up a Xoom account and included thorough testing of its desktop and mobile app services. To analyze Xoom’s fees and exchange rates, we screened more than one million comparisons on Monito’s engine from the past three months to check how often Xoom was the cheapest and how often they offered competitive rates. To determine whether their fees were transparent, we checked 11 typical customer transactions for the provider, such as a $250 transfer from the US to Mexico. Finally, we ran a background check on Xoom, looking at how they were regulated and by which authority, and considering their security practices and whether they had any publicly known legal, privacy, fraud, or technical issues. As with all Monito reviews, our Xoom score was peer-reviewed by at least one Monito expert.
Trust & Credibility
Xoom is fully licensed and authorized by the relevant authorities in the countries in which it operates.
Security & reliability
Xoom’s platform is fully secured, making use of top-notch security protocols, such as segregated user accounts and HTTPS.
Founded in 2001, Xoom is a well-established international money transfer provider that transferred approximately $10 billion for two million customers in the last year. Xoom has 320 employees.
Xoom is only partially transparent in disclosing its fees: approximately 74% of its fees are hidden in the exchange rate margin.
Is Xoom Paypal Safe?
Owned by PayPal since 2015, Xoom is a credible and well-established name in the money transfer world, transferring approximately $10 billion annually for over two million customers, that as a bonus is backed by one of the biggest names in the field.
Is Xoom Legit?
Yes. Not only is Xoom a fully-secured and well-established international money transfer provider in its own right, but it is also a service of PayPal, one of the largest international money transfer service in the world. PayPal is regulated by the federal government, as well as by various U.S. state governments and agencies.
Service & Quality
Opening an account
Opening an account with Xoom is relatively easy to do, though it may be a lengthy experience.
Making a transfer
Transferring money with Xoom is fast and easy to do.
Though it does not offer chat support, Xoom offers an extensive FAQ section and its customer service is easy to get in touch with, either by phone or email.
Is Xoom a Good Way To Send Money?
Setting up an account with Xoom is relatively easy to do, and making a transfer, whether to a new or existing contact, is straightforward, with an impressive variety of pay-in and pay-out methods from which to choose.
What is Xoom?
Xoom is a leading money transfer provider to send money from the United States, Canada, and Europe (Eurozone, non-Euro zone countries, and the UK) to over 130 countries around the world.
You can pay using your bank account, debit, or credit card. Depending on the country you are sending money to, the money can be delivered as cash, deposited in a bank account, airtime top-up. It can also be delivered to the beneficiary’s home address. You can also use Xoom to pay utility bills in 10 countries: Colombia, Costa Rica, Dominican Republic, El Salvador, Jamaica, Honduras, Mexico, Guatemala, Nicaragua, Panama, and Vietnam).
What's the Difference Between Xoom and PayPal?
Xoom is owned by PayPal and its services are integrated. Because Xoom is part of PayPal, you can use a PayPal-linked bank account, credit card, or debit card, but note that you can't out of your PayPal balance.
Xoom offers mobile apps for Apple iOS and Google Android and their website is available in English, German, Spanish, Portuguese, Vietnamese, French, Hungarian, Dutch, Italian, Polish, Portuguese, Romanian, Russian, Korean, and Chinese. You are kept informed of the status of your transfer with text updates or email notifications.
How Long Does It Take To Receive Money From Xoom?
If you fund your international money transfer by bank transfer, it can take two to three business days to reach the recipient. Transfer time will also lengthen if a non-traditional transfer route is used. Transfers from the United States to Canada or Mexico, for example, will usually take a day or so while less-common transfers from Mexico to Bangladesh, for example, can take three or more days.
Transfers by debit card, credit card or PayPal balance are usually immediate, taking just a few minutes to reach your destination.
Documents Required for a Xoom Account and Payment Limit
The maximum amount you’re allowed to send with Xoom is $2,999 per day in the US. Without providing documents, you also have a limit of $6,000 per month and $9,999 over a six month period.
You can increase these limits by providing additional documents. US residents need to provide the following:
- ID (passport, driver’s license, etc.);
- Green Card;
- Proof of Income (payslip);
- Bank Statement.
When increasing your limits, Xoom customer service will also ask you to answer a few security questions about your transfer, such as your relationship with the recipient, why you’re transferring money, if you’re sending money on behalf of someone else, and your current occupation.
Send Money to Mexico With Xoom
Xoom allows you to send money to more than 37,000 agent locations (including Walmart, Farmacias Guadalajara, OXXO, Soriana, and Elektra, and directly to someone's bank account at all major Mexican banks including Banca Azteca, BBVA Bancomer, BanCopeel, Banorte, and BanCoppel).
You can also top up the airtime for your friends and family with five carriers (Claro, Telcel, Movistar, Iusacell, Nextel, and Unefon) and even pay utility bills from several companies (dish, gasNatural, Iusacell, IZZF, Sky, Telmex, and Telnor).
Send Money to Colombia With Xoom
You can send money to almost every Colombian city, including Cali, Bogota, Medellin, and Cartagena, in cash or directly to a bank account. Transfers are available to all major banks in Colombia (including Bancolombia, HSBC, BBVA and Banco Popular) and their partner networks (including Carulla, Exito, Davivienda, and Pagos Internacionales). More than 2,500 cash pickup locations are available.
Xoom allows you to top-up their mobile phones on the Claro, Moviestar, Tigo, Avantel, or Virgin Mobile networks for small gifts to your friends and family.
Send Money to Guatemala With Xoom
With over 9,500 cash pickup locations, Xoom has Guatemala covered if you want to deliver money in cash. Xoom’s network in Guatemala includes Banrural, Banco Industrial, and even El Gallo más Gallo.
You can also send money to banks in Guatemala, including Banco G&T Continental, Banco Industrial, Banrural, or reload the phones of Moviestar, Claro, and Tigo customers. It is also possible to pay the EEGSA and Energuate bills of your family.
Send Money to the Philippines With Xoom
Many Filipinos use Xoom to send money back to the Philippines. You can send money to over 10,000 pickup locations (many of which are open 24/7), and your money is usually available in just a few minutes. If you send money to a bank account, the delivery is instant for accounts at BDO, Metrobank, Land Bank, and PNB. You can also send money to any other bank account, although the delivery time will be a bit longer. There are no fees if you send over US$200 to a Philippine Peso bank account and pay with a bank account.
The Philippines is one of the only countries where Xoom offers cash delivery directly to your recipient’s home at no additional cost. The money can be delivered in less than six hours if your recipient lives in Manila or roughly 1-2 days in most other provinces.
If you want to send an airtime top-up to reload your recipient’s mobile phone, Xoom allows you to reload numbers from Sun, Smart, SmartBro, and Globe. You can also pay for your family's local utility Smart and PLDT bills.
Send Money to Vietnam With Xoom
You can send US dollars or Vietnamese dong to over 1,700 pickup locations throughout Vietnam in a few minutes. Bank transfers to Vietcombank, Sacombank, DongA, and Vietinbank can generally be done in minutes, and a quick bank transfer can be made to other major banks. You can also arrange for money to be delivered to your recipient’s home – in major cities, this is usually done on the same day, in all other locations.
You can also send airtime to your relatives using Beeline, Mobifone, Vietnamobile, Viettel, and Vinaphone, or pay for their utility bills such as VNPT and EVNHANOI.
Xoom's Mobile App Review
Xoom's mobile app has excellent ratings on Apple's App Store (4.8/5 stars on 781.4K ratings) and Google's Play Store (4.7/5 on over 150K ratings). With the Xoom app, it’s easy to send money from your smartphone in a few taps. The app is available in English, Dutch, French, German, Hungarian, Italian, Korean, Polish, Portuguese, Romanian, Russian, Simplified Chinese, Spanish, and Vietnamese.
Fees & Exchange Rates
Transfers to a bank account
Xoom was the cheapest option in only 1.40% and competitive in another 2% of relevant Monito searches for bank transfers over the first three months of 2021.
Transfers to cash pick-up
Xoom was the cheapest option in 5% and competitive in another 9% of relevant Monito searches for cash pickup transfers over the first three months of 2021.
Xoom's Fees & Exchange Rates
Xoom rarely ranks competitively in Monito searches, though it does better with cash pickup transfers from the United States.
Xoom's transfer fees vary depending on where you're sending your money from and to, as well as the transfer method involved. In general, fixed fees are not applicable to larger bank transfers (usually above US$1,000) and only affect smaller bank transfers. For example, a US$750 transfer from the US to a bank account in India would incur a US$4.99 fixed fee.
In addition to the fixed fee, Xoom also charges a variable commission (usually between 2.9% and 3.3% of the transaction value) for debit and credit card payments.
Xoom Exchange Rates
The second transfer cost comes in when you're charged the difference between the "real" exchange rate (known as the mid-market exchange rate) and the rate which Xoom decides on. This difference is known as the exchange rate margin, and is expressed as a percentage.
Is Xoom Better Than Western Union?
Xoom's exchange rates hover between 0.4% and 1.5% in general for most currencies, which make them reasonably priced compared to other traditional players on the market and on par with Western Union. Xoom is, on average, more expensive than many other services due to the fact that it charges the above fixed fees and commissions in addition.
Why Is the Xoom Exchange Rate So Low?
Bear in mind that Xoom exchange rates decrease in proportion to the size of the transfer. For example, if you were to send a small transfer of US$500 to India, your exchange rate margin would be around 1.1%. Meanwhile, if you were to send a larger transfer of US$10,000, your exchange rate margin would be only around 0.4% instead.
For these reasons, the experts at Monito highly recommend you compare Xoom to better alternatives in real-time using the Monito comparison engine below:
Compare Xoom's Fees & Exchange Rates to Cheap and Fast Alternatives
Customer review score
Xoom is highly rated by its customers, earning a 4.1/5 star rating on Trustpilot.
Number of positive reviews
Xoom has around 20 thousand 4- and 5-star reviews on Trustpilot, making it much loved by users.
Customer Reviews of Xoom
Xoom is popular with users, earning a 4.1 out of 5 star rating on Trustpilot with a high number of positive reviews.
Positive Review Highlights
- Transactions speed is quick;
- Smooth and easy-to-use service;
- Excellent customer service.
Negative Review Highlights
- Sending documents to Xoom for compliance reasons was a hassle;
- Some transfers cancelled days after putting a transaction through;
- High fees and poor exchange rates.
How To Send Money With Xoom
Check Xoom’s Rates
Use Monito's comparison engine to see how Xoom’s fees and exchange rates weigh up against the rest and make sure they are indeed the cheapest option for your international money transfer. There, you'll be able to discover both the cheapest ways to fund your transfer and have the money received.
Set Up Your Transfer
To send money overseas with Xoom, you'll need to visit their website or mobile app and enter the amount of money you'd like to send, and then specify which country you'd like to arrive in.
Log in With PayPal
Next, you'll be redirected to PayPal's login page. If you're already a PayPal user, logging in will be the click of a single button. However, if you need to sign up with PayPal, you'll first need to create a profile using your full name, physical address, mobile phone number, and email address, and then link your bank account — all of which can take up to three working days to complete
Add Your Beneficiary
Once you've signed in with PayPal, you'll be brought back to your transfer on Xoom, where you'll need to add your recipient's full name, physical address, mobile phone number, and banking details.
Review and PayTry Xoom ❯
In the final step, all you'll need to do is review the details of your transfer (including your details, your beneficiary's, and the exchange rate) and then instruct the payment, which will come directly through the bank account that's linked to your PayPal balance.
Xoom at a Glance
Backed by PayPal and fully licensed and authorized everywhere it operates.
Signing up can take time, but making a transfer is straightforward.
Xoom charges comparatively high fees and rates and is almost never the cheapest service.
Around 20 thousand 4- and 5-star reviews on Trustpilot.
💳 Pay-in Options
Bank transfer, debit/credit card, PayPal balance
🏧 Pay-out Options
Bank deposit, cash pick-up , door-to-door delivery
💶 Min. Transfer Amount
💷 Max. Transfer Amount
The amount depends on how much personal information you’ve provided:
💱 Currencies Supported
👥 Number of Customers
🔐 Aggregated Review Score
📝 Number of Reviews
🌍 Available in
💬 Languages Supported
English, Spanish, French, German, Hungarian, Italian, Korean, Polish, Portuguese, Romanian, Russian, Chinese, Vietnamese, Dutch
San Francisco (US)
San Francisco (US), Guatemala City (GT)
👥 Number of Employees
Shorty Awards, RemTech Awards, Telly Awards, ANA Multicultural Excellence Award, W3 Award, Bets Fin-Tech by PaySpace
✅ Fun Fact
Xoom is a PayPal service
See How Xoom Compares With Other Money Transfer Services
Frequently Asked Questions About Xoom
Is Xoom the cheapest way to send money abroad? 💸
Xoom is rarely the best option to send money abroad. That's why it's always worth using Monito to find the cheapest way to send money abroad. Not comparing the money transfer companies and sticking to one provider can mean losing a lot of money down the line!
How do I avoid Xoom's fees? 🧾
It's not possible to avoid Xoom fees entirely, but there are some options to minimize them:
- Always compare Xoom fees and exchange rates with alternatives with Monito's comparison widget for international money transfers. Comparison sites like Monito help you figure out the math and make sure you find the best deal in just a few clicks.
- Avoid credit card charges - Xoom or the card issuer may charge additional costs on your transactions.
- Always use the Xoom price estimator before continuing with your transaction to check the transfer fees and exchange rates. Remember to double-check the exchange rates!
- Consider sending money with another money transfer operator with lower fees and better exchange rates. Compare your options, and more money will arrive.
Is Xoom safe to send money? 🔐
Yes, Xoom is safe indeed. Xoom is a service of PayPal, one of the world's largest international money transfer service. PayPal is regulated by the federal government, as well as by various U.S. state governments and agencies. Xoom has excellent reviews on TrustPilot. The company also offers a money-back guarantee, which means that if your transfer is not received, Xoom will refund your transaction in full.
How much does a Xoom transfer cost? 💵
The best option to check the cost of sending money abroad is to use Monito's live comparison widget. The tool will help you discover if Xoom is the cheapest option available right now. With Monito, you will quickly calculate how much you’ll pay and how much the beneficiary will receive, based on the exchange rate offered by Xoom. Xoom fees vary depending on the amount you’re sending, the countries that you’re transferring money between, how you’re paying for the transfer, and how the beneficiary is accessing the funds you’re transferring. But in general, Xoom fees are high, and you can find better options for your international money transfer.
Does Xoom or Wise offer the better service? ✅
Monito's recommendation: Wise is a better deal, but only Xoom offers cash pickup as a receiving method . Take at look our Xoom vs Wise comparison page to see how these two services stack up.
Is it possible to send money to India with Xoom? 🛕
Yes, you can send money to India with Xoom, but you will probably lose a lot in hidden fees and exchange rates on this transaction. Take a look at our money transfer guide for sending money to India with Xoom to learn what to avoid and what your best alternatives might be.
Is it possible to send money to Mexico with Xoom? 🌮
Yes, you can send money to Mexico with Xoom, but you will probably lose a lot in hidden fees and exchange rates on this transaction. But the good news is that there are dozens of excellent digital services for money transfers to India that you can compare on Monito.
Is it possible to send money to Colombia with Xoom? 🌎
Yes, you can send money to Colombia with Xoom, but you will probably lose a lot in hidden fees and exchange rates on this transaction. But the good news is that there are dozens of excellent digital services for money transfers to India that you can compare on Monito.
How long does a Xoom transfer take? ⏱
The time it takes for your beneficiary to receive funds after you send them depends on several factors. These include the countries and currencies you’re sending money between, the amount you’re sending, how you pay for the transfer, how the beneficiary wants to receive the money and any additional security checks. In many cases, money will arrive a few minutes after you send it, but it can sometimes take a few days. Xoom will send you status updates about your transaction through email or text messaging, and you can also track your transaction in your Xoom account.
How do I change my Xoom password code? 🔢
If you’ve lost your Xoom password or you can’t remember it, it’s easy to have your password reset. Start by going to the password recovery page on the Xoom website. Next, enter the email address that you used to register your Xoom account. Once you receive a password recovery email from Xoom, click on “Create a new password” in the email body. This will take you to the Xoom website, where you may need to verify some of your data, like a payment method, to reset your password. Finally, create a new password and use it to log into the Xoom service. For security reasons, you should ensure your password is robust and hard to break. It would be best if you also created a unique password for every website you use, especially money transfer providers and banks.
How do I delete my Xoom account? 🚫
You can only delete your Xoom account by contacting Xoom customer service. You can do this by emailing Xoom customer service through the Xoom website. Alternatively, you can also telephone Xoom directly, depending on where you’re located. Email support is available in English, Spanish, French, Italian, German, Arabic, Portuguese, Vietnamese and Chinese.
How do I refer a friend in Xoom? 🗣
If you’re already a Xoom customer, you can earn incentives and gifts by referring friends, family and others to Xoom. They have a “Refer a Friend” program that rewards you for getting others to sign up and make a transfer. You can receive Amazon eGift cards and MasterCard prepaid debit cards so you can make purchases. To refer a friend, log into your Xoom account and visit the “Refer a Friend” page. You can send an invitation to your friends through their email, Facebook, Facebook Messenger, or WhatsApp account. They will need to sign up to Xoom using the referral link that you’ve provided.
How does one receive money from Xoom? 📥
Xoom has several convenient ways for you to get your money. These include a transfer directly into the beneficiary’s bank account, cash pickup at one of the thousands of Xoom local agent locations, home delivery to the beneficiary’s address, mobile top-up and bill pay. Note that not all options will be available in all currencies and countries and that there may be an additional fee—for example, a bank fee to receive a transfer. You can decide on the delivery method for the money you’re sending when you create the transaction.
How do I add recipient bank details to Xoom? ➕
If you want Xoom to send your money transfer directly to the beneficiary's bank account, you will need to provide banking details. These will typically include their name, address, country and details of the bank account. You will need to provide the routing number/sort code, the specific account number and, in some cases, the bank identifier, IBAN or SWIFT code. Note that transferring funds directly into a beneficiary’s bank account may incur a fee from the receiving bank outside of Xoom’s control.
How do I cancel a Xoom transaction? ⛔
In some cases, you will be able to cancel a Xoom transaction, depending on where it is in the Xoom process. To cancel a transfer, log into your Xoom account. Go to the “My Transactions” tab and select “Transaction History.” Choose a transaction and click on “Cancel the transaction.” If you can’t see a “Cancel Transaction” link, you probably won’t be able to cancel that transaction as it’s already being processed. If you do not believe the transaction has been completed and still want to cancel it, you will need to contact Xoom customer service. You can do this by emailing Xoom customer service through the Xoom website. Alternatively, you can also telephone Xoom directly, depending on where you’re located. Email support is available in English, Spanish, French, Italian, German, Arabic, Portuguese, Vietnamese and Chinese.
How do I send money through Xoom using PayPal? 💻
Although you can’t pay for a Xoom transaction using the money in your PayPal balance, you can use the bank accounts, credit or debit cards linked to your PayPal account to send money abroad. If you want to use PayPal with Xoom, you need to log into your Xoom account, then click the “Continue with PayPal” button. When you need to pay for your transaction, you can choose from a payment method linked to your PayPal account.
What are Xoom's exchange rates? 💲
Xoom's exchange rates are reasonably priced at around 0.4% to 1.5% of the total transaction value. However, when transfer fees are added into the mix, Xoom quickly becomes one of the more expensive options for sending money abroad, especially for bank transfers. If you'd like to find the best deal for your transfer, run a search on Monito's real-time comparison engine to compare alternatives instead.
What is the max you can send on Xoom?
You can send up to $100,000 per day with Xoom.
Do I need PayPal account for Xoom?
Yes, you need your Paypal credentials to sign up and send money with Xoom. However, your recipient does not need a PayPal account to receive your Xoom transfer.
Which is better Remitly or Xoom?
Remitly consistently has faster and cheaper international money transfers than Xoom. Read our in-depth provider comparison guide between Remitly and Xoom for a full breakdown of the two services.
What is better than Xoom?
Since rates and fees fluctuate constantly, the money transfer specialist we might recommend today may not be the same one tomorrow. For real-time money transfer comparisons, use Monito's comparison search engine to save on your international money transfer today.