Both Xoom and Remitly are viable options for international money transfers, each with its own strengths and weaknesses. Remitly offers potentially faster transfers and 24/7 customer support, while Xoom, backed by PayPal, provides a wider range of funding options and is generally highly rated by its users. However, Remitly is more transparent regarding fees. The best choice depends on individual needs and priorities.
| Attribute | Xoom (by PayPal) | Remitly |
|---|---|---|
| Transfer Speed (estimated delivery time) | Most money transfers occur within minutes, but some destinations may take up to a few days. Speed is affected by anti-fraud verification, fund availability, banking hours, and time zones. | Offers Express and Economy transfers. Express transfers are faster, potentially available in minutes. Economy transfers are slower. |
| Transfer Fees (cost per transaction) | Vary depending on transaction type, payment method, sending/receiving countries, and amount. For transactions up to $999, Xoom charges a fee of 1% when sending from a bank account, with a $10 fee for transactions of $1,000 or more. Sending from a debit card can incur fees from $0.39 to $0.99, while credit card fees range from $2.99 to $4.49. Using a PayPal balance, bank account, or PayPal USD may result in no fee, regardless of the receiving method. | Fees vary depending on destination, amount, and payment method. Economy transfers have lower fees. Larger amounts may waive the fee. New customers may get promotional rates. |
| Exchange Rates (compared to mid-market rate) | Include a markup, typically between 1-3% over the mid-market rate, but can sometimes range from 4-6%. | Adds a margin to the mid-market exchange rate, ranging from 0.5% to 3.0%. Actual rate depends on transfer speed, delivery method, and transaction history. |
| Available Countries (sending and receiving) | Send money to over 160 countries from the US, Canada, the UK, and most countries in the European Economic Area. | Send money to over 170 countries and territories. Sending available from 28 countries including the United States, Canada, and the UK. |
| Payment Methods (options for funding transfers) | Bank accounts, debit cards, credit cards, and PayPal balances. U.S. users can also fund transfers using USD converted from PayPal USD (PYUSD). | Accepts debit cards, credit cards, and bank accounts. Bank accounts are usually the cheapest option. Credit card providers may charge a 3% fee. |
| Receiving Options (bank deposit, cash pickup, etc.) | Bank deposits, cash pickup at local agent locations, delivery straight to the recipient's home (in some countries), and transfers to mobile wallets. | Offers bank deposit, cash pickup, mobile money, or home delivery, depending on the recipient's location. |
| Transfer Limits (minimum and maximum amounts) | Minimum transfer amount is generally $10. Limits vary based on account level: Level 1: $2,999/day, $6,000/month, $9,999/180 days; Level 2: $10,000/day, $20,000/month, $30,000/180 days; Level 3: $50,000/day, $60,000/month, $100,000/180 days. Higher limits require more personal information. | Limits based on account tier. New accounts have a limit of $2,999. Limits can be increased by providing more personal information. In Canada, the maximum payment limit is 15,000 CAD. |
| Customer Support (availability and responsiveness) | Customer service centers across the globe with support in multiple languages. Contact via email or phone. No live chat support. | Offers 24/7 customer support via phone, live chat, and FAQs in multiple languages. |
| Mobile App (user-friendliness and features) | Mobile app available for initiating and tracking transfers. | User-friendly app for initiating and tracking transfers. |
| Security Measures (fraud protection and data encryption) | 128-bit data encryption, 24/7 fraud monitoring, physical and electronic protection, regular checks and audits, and staff background screening. | Employs bank-level encryption (256-bit SSL), two-factor authentication (2FA), and 24/7 transaction monitoring. |
| User Reviews and Ratings (overall satisfaction) | Highly rated by its users. | Trustpilot: 4.6/5 (over 70,500 reviews), Sitejabber: 1.4 stars |
| Transparency (clarity of fees and exchange rates) | Displays the exact fee and the amount the recipient will receive before you send. However, 74% of fees are hidden and the exchange rate margin is not disclosed. | Provides a breakdown of costs before finalizing the transaction. |