Xoom money transfer: International transfers fee

Xoom is a PayPal owned money transfer company that allows you to send money to 150 countries around the world. The minimum amount of money you can transfer is $10 and the maximum is at $10,000. While Xoom offers easy transactions through their mobile app it does come with a few drawbacks. 

Xoom regularly charges a higher fee on international transactions compared to competitors like Lycaremit. 

The total cost of a transaction through Xoom varies depending on the following factors-

  • Mode of payment- While a bank transfer attracts the lowest amount of cost, credit card transactions will cost you more. Additional charges may be levied on your credit card. 
  • Location- Exchange rates may vary depending on the country you are sending money to. 
  • Amount- costs may vary depending on the amount of money you want to transfer. 

You can send money via Xoom by three modes-

  • Bank account transfer
  • Credit or debit card
  • PayPal balance

Although it should be noted that credit card and debit card transactions cost much more than a bank transfer. Lycaremit is a much cheaper option for international money transfers. Here is a quick comparison at the rates- 

(From Xoom and Lycaremit website- free cost estimator)

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