When it comes to transferring money internationally, choosing the right service can make a significant difference in terms of cost, speed, and convenience. Remitly and Xoom are two popular options in the market, each promising secure and reliable ways to send money to loved ones globally. But how do they compare? This in-depth guide breaks down the benefits and features of Remitly and Xoom to help you make an informed choice.
Introduction: Understanding the Key Players
Both Remitly and Xoom provide digital solutions for sending money across borders. However, they differ in important ways when it comes to who they are best suited for. Remitly, founded in 2011, specializes in a digital-first approach, focusing on delivering fast and affordable cross-border payments with an emphasis on customer satisfaction. Xoom, a PayPal service, leverages its parent company’s reputation and global reach to offer a range of money transfer options.
If you’re considering whether to use Remitly vs. Xoom, this guide is here to help. We’ll explore the pros, cons, and key features of each platform, including fees, transfer speeds, and global availability.
What Does Remitly Offer?
Remitly is a trusted provider of digital financial services that enables users to send money to over 170 countries in 100+ currencies. Here’s why millions of users count on Remitly for transferring funds:
Key Benefits of Remitly
- Transparent Fees
Remitly is upfront about its service fees, so there are no surprises. Users can choose between two transfer speed options:
Express: Faster delivery for a slightly higher fee.
Economy: A lower-cost option for those who can wait a bit longer for delivery.
- Extensive Global Network
With access to billions of bank accounts and wallets plus over 460,000 cash pickup locations, Remitly offers incredible flexibility for recipients. Whether you’re sending to a bank account, mobile wallet, or cash pickup point, coverage is vast.
- Strong Customer Reviews
Boasting an App Store rating of 4.9 and a Google Play rating of 4.8, Remitly consistently receives high marks for ease of use and reliability (disclaimer: rating might vary based on location). Customers also value its 24/7 multilingual customer service.
- Simplified User Experience
The Remitly app is intuitive, helping both new and experienced users complete transactions with ease. New customers often commend how easy it is to set up their first transfer step by step.
What Does Xoom Offer?
Xoom, as part of PayPal, makes it convenient for anyone with a PayPal account to send money internationally. Its strong integration with PayPal’s ecosystem gives it an edge for existing users of the platform.
Key Benefits of Xoom
- PayPal Integration
If you already use PayPal, Xoom makes sending money seamlessly integrated within their app. Payments can be funded using your PayPal wallet or linked financial accounts.
- Global Coverage
Xoom allows users to send money to over 130 countries, supporting a range of delivery methods, including bank deposits, cash pickups, and bill payments for recipients abroad.
- Transaction Tracking
Xoom provides real-time updates so senders can track their money every step of the way, offering peace of mind when transferring to loved ones.
- Speed Options
Xoom emphasizes fast delivery times, with many transfers completed within minutes. However, rapid transfers might include higher fees compared to its counterparts.
Remitly vs. Xoom Comparison Table
|
Feature |
Remitly |
Xoom |
|---|---|---|
|
Countries Served |
170+ |
130+ |
|
Currencies Supported |
100+ |
Limited choices based on country |
|
Transfer Speeds |
Express (minutes) vs Economy (days) |
Typically minutes to hours |
|
Fees |
Transparent, depends on speed/method |
Higher fees for faster transfers |
|
Customer Service |
24/7 multilingual support |
Limited availability |
|
App Ratings |
App Store 4.9, Google Play 4.8 |
App Store 4.5, Google Play 4.3 |
Countries You Can Send Money From With Remitly
- United States
- Canada
- United Kingdom
- Australia
- New Zealand
- Singapore
- United Arab Emirates
- Austria
- Belgium
- Cyprus
- Czech Republic
- Denmark
- Finland
- France
- Germany
- Greece
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Spain
- Slovakia
- Sweden
Payment Methods You Can Use With Remitly
| Payment Method | Availability |
|---|---|
| Bank Transfers (ACH) | Widely available |
| Debit Cards | Widely available |
| Credit Cards | Widely available |
| Available in select countries | |
| Apple Pay | Available in select countries |
Ways You Can Receive Money With Remitly
| Receiving Method | Description | Availability |
|---|---|---|
| Bank Deposit | Funds are transferred directly into your bank account. | Widely available in countries with established banking systems. |
| Cash Pickup | Collect cash from a nearby partner location using a valid ID and reference number. | Available in many countries through an extensive network of partners. |
| Mobile Money | Funds are sent to your mobile wallet (e.g., M-Pesa, GCash). | Offered in countries where mobile wallets are commonly used. |
| Home Delivery | Cash is delivered directly to your home by a courier. | Available in select countries like the Dominican Republic, Philippines, and Vietnam. |
| Debit Card Deposit | Money is deposited directly onto your debit card. | Available in certain countries; check Remitly for specific availability. |
Which Service Is Best for You?
The right choice between Remitly and Xoom largely depends on your individual priorities:
- Choose Remitly if you want:
-
- Transparent pricing with flexible speed options.
- Access to an extensive global disbursement network.
- Multilingual customer support available at all hours.
-
- Choose Xoom if you want:
-
- Seamless integration with PayPal.
- A quick and straightforward setup process for PayPal users.
FAQs
1. Is Remitly or Xoom faster for money transfers?
Both offer options for fast delivery, but speeds will depend on the chosen service and delivery method. Remitly’s Express option typically transfers in minutes, while Xoom often completes transfers in a similar timeframe for higher fees.
2. Which has lower fees, Remitly or Xoom?
Remitly generally offers more transparent and affordable fee structures, especially with the Economy transfer option. Xoom tends to charge higher fees for rapid transfers.
3. Can I use PayPal balance to fund transfers?
Yes, Xoom allows you to link your transfer directly to your PayPal account. Remitly, on the other hand, accepts standard payment methods like debit cards and bank transfers.
4. Which platform is better for customer service?
Remitly stands out for 24/7 multilingual customer support, while Xoom provides customer service, but not as extensively.
5. Can Xoom or Remitly guarantee delivery?
Both services are secure and reliable, but it’s always advisable to double-check timings and delivery methods before confirming any transfer.