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Xoom Competitors: Find Better Alternatives Today

Jul 19, 2022
Affiliate disclosure

Xoom is a leading digital money transfer provider, offering a way to send money online since 2001. While it offers a trusted way to transfer money around the world, it doesn't mean that's the best or cheapest option available. In the past five to seven years, a multitude of new services have been launched and gained customer adoption around the world. It's always good to have a look at the competition and see what they offer.

As you can see from the example below, by comparing all fees (including the hidden currency exchange rate margin) on a comparison website like Monito, you can find competitors to Xoom that is more than 6 times cheaper. This is just one example. Transfer fees and exchange rates vary depending on the exact amount you need to send abroad, as well as the origin and destination of your transfer.

$500 transfer to Colombia

Service

Transfer Fee

Exchange Rate Margin

Total Cost

Xoom

$8.99

$21.03

$30.02

Xoom Competitor

$5

$4.47

$4.47

Find alternatives to Xoom for your next transfer:

While it's not possible to say in all cases if Xoom or one of its competitors will be the best service for your next transfer, here's a list of the top Xoom competitors that we'd recommend you to check out. We review hundreds of money transfer services, compile dozens of parameters to benchmark their offering, assess the user-friendliness of the digital services and sift through hundreds of customer reviews to give each money transfer service a Monito Score. You can learn more about how Monito review money transfer services here.

Top Xoom Competitors

Company

Monito Score

Advantages

Learn More

Wise

9.2/10

  • Wise is a great option to send money to a bank account internationally with low & transparent fees.

  • Excellent website & apps and customer satisfaction.

  • Bonus: pay like a local with Wise's debit card and get paid like a local with Wise Multi-Currency Account

Wise Review

WorldRemit

7.6/10

  • WorldRemit is a great alternative to Xoom if the recipient needs to receive cash.

  • WorldRemit has a large network of pay-out partners and integration that makes it easy to send money around the globe

  • Customer love WorldRemit's service, particularly its useful mobile apps.

WorldRemit Review

Remitly

7.1/10

  • Remitly is also a good alternative to Xoom to send money around the globe with a large network of cash-payout locations.

  • The service is extremely easy to use with a simple, user-focused online interface and excellent mobile applications.

Remitly review

OFX

N/A

  • OFX is a currency exchange specialist for transferring large amount (e.g. interesting if you need to send more than $50k for example)

  • Transfer your money with peace of mind guided by a dedicated account manager on the phone.

OFX Review

Western Union Online

7.1/10

  • Largest money transfer service in the world with a network of 550'000 agent location

  • Sometime, the rates offered online are super competitive.

Western Union Review

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.