Xoom vs Wise

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Which is Better, Xoom or Wise? Complete Side-by-Side Review

Aug 12, 2022
Affiliate disclosure

Wise and Xoom are two world-class money transfer providers that offer a range of useful features and services. —

On the one hand, there's Wise, the UK-based fintech that frequently ranks as the cheapest way to transfer money internationally on Monito. On our Monito Score, Wise is also ranked as the best money transfer service of all, and its mobile app is ranked the best money transfer app. On the other hand, PayPal-backed Xoom is another popular and reliable option to consider with a vast reach and millions of active customers (although its fees and exchange rate are more expensive than Wise's).

recommendation icon

Wise is almost always the better deal, but only Xoom offers cash payouts. However, Wise doesn't support cash transfers (e.g. cash pay-in or pick-up), which gives Xoom an edge for cash-related transactions. However, even here, we don't recommend Xoom due to its fees and instead recommend WorldRemit, which offers you excellent rates for cash-related money transfers.

As you'll see, while we in most cases recommend Wise over Xoom, in the end, both will offer you excellent service, and whether Wise or Xoom is ultimately the right choice for you depends on your needs and preferences.

In this side-by-side comparison, we explore a few key factors to help you make the best decision and save money in the process.


Trust & Credibility

Background check

Background check
Background check

Xoom is fully licensed and authorized by the relevant authorities in the countries in which it operates.

Wise is duly authorised and regulated by the FCA and HMRC in the United Kingdom, as well as by the relevant authorities in all the countries in which it operates.

Security & reliability

Security & reliability
Security & reliability

Xoom’s platform is fully secured, making use of top-notch security protocols, such as segregated user accounts and HTTPS.

Wise's website is fully secured and makes use of top-notch security protocols, including segregated user accounts and HTTPS.

Company size

Company size
Company size

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.

Founded in 2011, Wise is a large and well-established company in the international money transfer world, touting over US$72 billion transferred in the past year, 10 million customers, and two thousand employees.

Transparent pricing

Transparent pricing
Transparent pricing

Xoom is only partially transparent in disclosing its fees: approximately 74% of its fees are hidden in the exchange rate margin.

Wise Money Transfer is impressively transparent when it comes to pricing, offering the mid-market exchange rate and charging only a low, clearly-displayed fee on transfers.

Xoom vs Wise: Trust & Credibility

Both Wise and Xoom are large, duly licensed money transfer platforms that you can most certainly trust to deliver your money from A to B.

A subsidiary of PayPal, Xoom is one of the most popular transfer platforms globally and is available in an impressive number of countries and currencies. Furthermore, Xoom has around five million active users and has been operating since 2001, giving it a long service track record.

Similarly, Wise is also a large company regulated in the UK and all countries in which it operates. However, Wise is quite a bit larger than Xoom and boasts around 10 million customers while handling about 18 times more money transfer volume every year than Xoom.

Regarding pricing transparency, we found Wise to be far more open and clear about their pricing than Xoom. Wise makes all its fees and costs known upfront on the sending page, whereas Xoom doesn't disclose the (rather large) exchange rate margin it levies on all currency conversions.



🖊 Licensing

  • FCA (UK)
  • NBB (EU/EEA)
  • FinCEN (US)
  • … and 11 others
  • Subsidiary of PayPal

📃 Founded



🔒 Segregated Accounts

💰 Profitable

📈 Publicly Listed

Try WiseTry Xoom

Last updated: 17/3/2022


Service & Quality

Opening an account

Opening an account
Opening an account

Opening an account with Xoom is relatively easy to do, though it may be a lengthy experience.

Opening an account with Wise is quick and intuitive thanks to the platform's clean user interface, helpful prompts, and lack of information overload.

Making a transfer

Making a transfer
Making a transfer

Transferring money with Xoom is fast and easy to do.

Transferring money with Wise Money Transfer is fast and straightforward, regardless of whether you're a first-time or seasoned customer.

Contacting support

Contacting support
Contacting support

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.

Wise makes it easy to find help when needed, providing a detailed FAQ, a live chat feature, and phone support, all available around the clock.

Xoom vs Wise: Service & Quality

When it comes to the ease of sending money, Wise without a doubt has the edge over Xoom. (However, it's worth strongly reiterating that these two platforms are quite different and specialize in slightly different pay-out markets.)

For example, we tested both platforms against the same set of user experience criteria, and we thought that Wise's platform provided a better all-round experience. Wise's website and mobile app — which was fast, user-friendly, and simple to use — particularly impressed us with its clean user experience and helpful prompts and tips. We found the website to be approachable, and we liked the fact that it avoided complicated phrases and money transfer jargon.

On the other hand, we found Xoom's web and mobile interface to be slightly more clunky — although still relatively clear and easy to understand. What we didn't like in particular about Xoom was that the signup process took us quite a lot of time (although sending money itself was almost as fast and easy as Wise). We also weren't impressed with the fact that around 75% of Xoom's fees are in the exchange rate — something that's not communicated clearly on the sending page.

One major difference between the platforms is in the pay-out: Wise only transfers money to bank accounts, whereas Xoom transfers money to bank accounts and to agent locations for cash pickup.

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Xoom vs Wise: Where Are They Available?

Take note that Xoom and Wise aren't available everywhere, nor do they have the same reach. Take a look at the two services' availability below:

  • Xoom: Available in all countries and regions where PayPal is available and supports transfers to over 150 countries and territories.
  • Wise: Available in the EEA, UK, US, Singapore, Japan, Australia, and New Zealand and supports transfers to around 57 foreign currencies.



📥 Pay-In

  • Bank transfer
  • Debit/credit card
  • Bank transfer
  • Debit/credit card
  • PayPal

📤 Pay-Out

  • Bank deposit
  • Mobile wallet deposit
  • Bank deposit
  • Cash pick-up
  • Door-to-door delivery

⬇ Min. Transfer



⬆ Max. Transfer


  • USD: $6,000 / month
  • CAD: $5,000 / month
  • EUR: €3,000 / month

💱 Currencies



💬 Languages

English, French, German, Hungarian, Japanese, Polish, Portugese, Romanian, Russian, Spanish, Turkish

English, Spanish, French, German, Hungarian, Italian, Korean, Polish, Portuguese, Romanian, Russian, Chinese, Vietnamese, Dutch

Try WiseTry Xoom

Last updated: 17/3/2022
¹ Varies based on currency


Fees & Exchange Rates

Transfers to a bank account

Transfers to a bank account
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.

Wise was the best deal on one third (33%) of available Monito searches for bank transfers over the first three months of 2021.

Xoom vs Wise: Fees & Exchange Rates

Pricing is the area in which Wise truly dominates over Xoom.

This is because Wise charges no exchange rate margin (exchanging money at the mid-market rate) and makes its money by adding a small variable or fixed fee onto every transfer. These fees are transparent and can be seen on the sending page or on Wise's dedicated fees calculator.

On the other hand, Xoom charges a standard exchange rate margin and a rather hefty variable fee in addition. As a result, this means that Xoom is almost always the more expensive option.

For example, suppose you were sending a $500 transfer to a friend in Canada from the USA. At the time of writing, a direct bank payment via Wise would cost $3.66 in total fees, while a bank transfer with Xoom would cost $4.99 plus an exchange rate that's 3.92% worse than the mid‑market rate. In the end, your friend would receive $630 Canadians if the transfer were made with Wise and $603 Canadians with Xoom. That's a nearly 3% difference in the amount received!

Take a look at the table below to get a better picture of how this works:



💱 Exchange Rate Margin



💸 Additional Fees



🏦 % Cheapest¹ (Bank)



🏦 % Competitive² (Bank)



💵 % Cheapest (Cash)


💵 % Competitive (Cash)


Try WiseTry Xoom

Last updated: 17/3/2022
¹ How often the provider was the cheapest on Monito (Apr-Jun 2021).
² How often the provider's fees were below 1.5% for a $1,000 transfer on Monito (Apr-Jun 2021).

However, because Wise doesn't offer transfers for cash pickup where Xoom does, Xoom makes sense over Wise in for these transfers. However, Xoom is still quite a bit more pricey for cash transfers than other competitive providers such as Remitly and WorldRemit, so using them may still not be your best bet. Run a search on Monito's real-time comparison engine below to find the best deal for your transfer:

Compare Wise and Xoom To Other Top Providers


Customer Satisfaction

Customer review score

Customer review score
Customer review score

Xoom is highly rated by its customers, earning a 4.1/5 star rating on Trustpilot.

Earning 4.7 out of 5 stars from more than 100 thousand reviews on Trustpilot, it should go without saying that Wise's service consistently delights its customers.

Number of positive reviews

Number of positive reviews
Number of positive reviews

Xoom has around 20 thousand 4- and 5-star reviews on Trustpilot, making it much loved by users.

Having earned more than 107 thousand four- or five-star reviews on Trustpilot so far, Wise is without a doubt a trustworthy and reliable service in the eyes of its customers.

Xoom vs Wise: Customer Satisfaction

Based on how customers review Wise and Xoom, it's pretty clear that both platforms impress their users.

Xoom is very popular with users, earning a 4.1- out of five-star rating on Trustpilot with many positive reviews. More impressive still is Wise, which has received overwhelmingly positive reviews on Trustpilot, with around 85% of 116 thousand customers rating the service five out of five stars.

While we think Wise slightly outdoes Xoom in this area, it's fair to say that both platforms deliver on their promises and satisfy their users.

Wise vs Xoom: Which Is Better For You?

In almost all cases, we recommend Wise over Xoom, and in particular for small- to medium-sized bank transfers (up to $10,000) destined for international bank accounts, because Wise is particularly well-priced for these transfers. As we've seen, Wise is the faster, easier, and (much) cheaper way to send money in general. (If you'd like to learn more, we recommend checking out our in-depth Wise review and Xoom review respectively.)

We only recommend using Xoom over Wise if you want to send money to your recipient to be collected in cash. However, even in these cases, Xoom is seldom the cheapest option on Monito's money transfer comparison results. For this reason, if you're sending cash, we recommend comparing providers instead and selecting the 'Cash pick-up' tab on the results page.

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn More About Monito
  • Monito is trusted by 15+ million users across the globe.

  • Monito's experts spend hours researching and testing services so that you don't have to.

  • Our recommendations are always unbiased and independent.

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Affiliate Disclosure
Instead of banner ads and paywalls, Monito makes money through affiliate links to the various payment service providers featured on our website. While we work hard to scout the market for the best deals, we're unable to consider every possible product available to you. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. However, while some links on Monito may indeed earn us a commission, this fact never impacts the independence and integrity of our opinions, recommendations, and evaluations.