Xoom Online Money Transfer Service Review: 3 Ways to Send Cash

Send money across the globe with Xoom Money Transfer.

When you have family members scattered across the world, a safe and efficient international money-sending solution is important. But traditional money transfer options can leave much to be desired due to complex, time-consuming and expensive requirements. Thankfully, global technology offers a solution in the form of online money transfer services, such as Xoom.

Learn more about how Xoom can help you send money quickly and securely and decide whether it’s the best way to send money internationally.

What is Xoom?

Xoom, a service of PayPal, allows you to easily and quickly transfer money to friends and family in 70 countries across the planet. Transfer times vary: For example, when sending money to Mexico, the funds can arrive in minutes. Sending money to China can also occur quickly if you send it during banking hours, but the transfer will be delayed until the next business day if you send it outside of banking hours.

For convenience and peace of mind, Xoom allows you to track your transfer through text or email updates or by logging in to your account. You can also contact customer service; agents who speak English, Spanish or Filipino are available 24/7. Not only does Xoom allow users to transfer funds, it also offers mobile phone reloads and bill paying services.

Here’s what you need to know about all three service offerings:

Xoom Money Transfer

Send money in amounts of $10 to $10,000 with Xoom via bank deposit, cash pickup or home delivery. Transfers can be completed online from anywhere, even by mobile phone with the Xoom app. Bank deposits make for the fastest, most accessible Xoom transfer, with many transactions happening typically within minutes, although it can take up to four days, depending on your bank.

Although it varies from country to country, sending limits do apply. You can send up to: 

  • $10,000 in 24 hours
  • $25,000 within 30 days
  • $60,000 within 180 days

Related: 12 Free Ways to Send Money to Family and Friends

Transfer requirements vary for each country, particularly for countries with cash pickup or delivery. To initiate most transactions, however, you’ll need the recipient’s exact full name as it appears on his or her bank account, the bank account number, address and phone number.

Xoom also offers a rush home delivery option for people in the Philippines and the Dominican Republic. For these two countries, the beneficiary must be present at the delivery address and have a valid passport, license or other valid identification. In the Philippines, a Xoom tracking number is required.

Another option is to set up a cash pickup at one of the thousands of locations across Latin America and the Philippines. The recipient visits a designated pickup location and provides the appropriate Xoom transaction number and valid I.D. to claim the funds.

Xoom Mobile Reloads

Xoom offers customers the ability to easily reload their prepaid phones with a variety of international carriers in 35 countries. The reloads are completed instantly, and the recipients receive texts notifying them of the recharges.

Xoom Bill Pay

Xoom’s billing service allows users to pay bills with select companies abroad. Xoom accepts payments for some bills originating from Costa Rica, Guatemala, Nicaragua, the Dominican Republic, Honduras, Vietnam, El Salvador and Mexico. Users supply their account numbers to Xoom, and payments can be made instantly.

Compare: International Wire Transfer: How to Wire Money Internationally

Xoom Rates and Fees

Xoom generates revenue through transfer fees and currency conversions based on standard exchange rates. When converting funds, Xoom rounds the country’s currency to the nearest whole number.

Transfer fees vary by country: For example, there’s a transfer fee of $4.99 to send $200 to Mexico, no matter if you transfer from your bank account or use a debit or credit card. But a transfer fee of $6.49 applies to send $200 to Canada if you use a debit or credit card instead of your bank account.

Xoom vs. Top Competitors

Xoom has many advantages over its competition, such as its low minimum transfer requirement and superior security backed by PayPal. Plus, the quick delivery times Xoom offers via bank deposits, cash pickups and home deliveries marry efficiency with convenience.

But some qualities of Xoom fall short when compared to those of its competitors. For example, OFX, a similar money transfer service, can reach 195 countries, never assesses a transfer fee and offers transactions of unlimited amounts, starting at $1,000. And another service,  HiFX, can reach over 170 countries, has no transfer fees and offers transactions from $100 to $500,000.

Up Next: The Best Ways to Send Money Internationally

Xoom is a VeriSign secured site with a VeriSign SSL certificate. To ensure optimal security, Xoom uses 128-bit data encryption, which is periodically audited to keep it updated. For additional protection, Xoom stores all the data physically and electronically behind a firewall not connected to the internet.