Xoom vs Wise

Xoom vs Wise


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Xoom vs Wise. Wise vs Xoom. Which one is better?

Wise shines with its low costs and swift transfer times, particularly for larger amounts. However, does it measure up to Xoom’s extensive worldwide availability and express delivery options?

If you find yourself torn between these two services, rest assured that this comparison will provide the clarity you seek.


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Fees and costs🟢
Transfer speed🟢
Transfer limits🟢
Ease of use🟢🟢
Customer reviews🟢
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Xoom vs Wise Company Comparison


Xoom is a PayPal subsidiary headquartered in San Francisco, California. It was founded in 2001 and is one of the world’s leading digital money transfer companies. Xoom offers money transfer services to more than 160 countries worldwide and supports 98+ currencies. 

In addition to its standard money transfer services, Xoom also offers bill payment services and the reloading of mobile phones. Xoom prides itself on its fast and secure transfer services and easy-to-use platform.

Read our review of Xoom.


Wise, formerly known as TransferWise, was founded in 2011 and is headquartered in London, UK. It is a global money transfer company that operates in over 80 countries and supports over 20+ currencies with the ability to hold and manage over 50 currencies. 

Wise offers borderless multi-currency accounts, debit cards, and international money transfers. It provides its customers with the mid-market exchange rate, which is the rate regularly used by banks. 

Wise also offers low fees, fast transfers, and a user-friendly platform, making it an attractive option for international transfers.

Xoom and Wise are leading digital money transfer companies offering their customers fast, secure, and easy-to-use services. Xoom has a slightly wider reach, operating in more countries and supporting more currencies. Although, Wise offers a more comprehensive range of services and is known for its borderless multi-currency accounts and debit cards.

Read our review of Wise.

Fees and Costs Comparison

When it comes to fees, both companies have different pricing structures. Xoom typically charges a flat fee per transfer, while Wise sets a fee based on the amount of money transferred. 

Transaction FeeStarting at $4.99 or 1% of the transfer amount, whichever is greaterAround 0.45% of the total transfer amount for most major currencies
Exchange RateDynamic, based on market ratesDynamic, based on market rates
Credit Card FeeUp to 2%0.3% to 2% for debit/credit card payments, 0.15% for ACH transfers, 0 for bank transfers
Minimum Limit$1$1
Maximum Limit (24 hours)2,999 USD for level 1 10,000 USD for level 250,000 USD for level 350,000 USD per transfer on a personal account and 250,000 USD per transfer on a business account.
Total Upfront QuoteAvailableAvailable
Fee-Free First TransferFirst transfer fee-free up to $300Referral program: Send a referral link to three people and receive a bonus once they each transfer £200 or more after their first free transfer of less than £500

Wise is cheaper than Xoom with lower transfer and credit/debit card fees. Xoom’s fees can vary depending on the transfer methods and varied cash collection costs. 

Exchange rate comparison


Xoom offers real-time exchange rates, which means users can check the latest rates before transferring. Xoom also offers the option to lock in exchange rates, which can provide peace of mind for users who want to avoid fluctuations in the rate.


Wise offers highly competitive exchange rates, often better than Xoom’s. The company uses the mid-market exchange rate. This means that Wise’s exchange rates are usually closer to the true market rate. Wise also doesn’t add a markup to the exchange rate. 

Verdict: Wise offers more competitive exchange rates than Xoom, which can lower costs. However, Xoom offers the option to lock in exchange rates, which may benefit some users who want to avoid fluctuations in the rate.

Safety Comparison


Xoom is regulated by the Financial Crimes Enforcement Network (FinCEN) and is a licensed money transmitter in the United States. It uses encryption to protect customers’ personal and financial information during transactions. Most reviews regarding safety are positive, and customers are satisfied with the security measures from Xoom.


Wise is a licensed electronic money institution regulated by the Financial Conduct Authority (FCA) in the United Kingdom. They employ encryption to protect customers’ financial and personal information during transactions. 

Verdict: Both Xoom and Wise take the safety of their customers’ information seriously as they implement encryption and are regulated by reputable financial authorities. Customers generally have a positive view of the safety measures in place at both companies.

Transfer Speed Comparison


Xoom prides itself on offering quick and reliable transfers. According to the company’s website, most transfers are completed within minutes. For some countries, Xoom offers an express service that can complete the transfer within seconds. 

The transfer speed also depends on the destination country and the method of payment used.


According to the company’s website, transfers are usually completed within 24 hours. In some cases, transfers can take as little as a few minutes. Wise’s transfer speed depends on the destination country and the receiving bank’s processing times.

Both Xoom and Wise offer fast transfer speeds. However, the transfer speed depends on several factors, including the destination country and the receiving bank’s processing times. Xoom offers an express service that can complete the transfer within seconds for some countries, while Wise’s transfers are usually completed within 24 hours.

Ease of Use Comparison

Account Setup:  Xoom has a straightforward sign-up process that can be completed in minutes. They offer various options for verifying your identity, including uploading a government-issued ID and providing your Social Security number. 

Wise also has a simple setup process that involves verifying your identity and entering basic personal information. 

Payment Methods: Xoom and Wise allow users to fund transfers with bank transfers, debit, and credit cards. 

App: Xoom has a mobile app available for both Android and iOS users. The app allows users to track their transactions and exchange rates and make transfers easily. 

Wise also has an app that’s available for Android and iOS devices. It offers a user-friendly interface and features such as real-time notifications.

Transfer Limits: Xoom and Wise have varying transfer limits that depend on the destination country, the amount being transferred, and the type of account or service you have with the provider. 

Xoom’s transfer limits range from $2,999 to $10,000 per transaction, with a yearly maximum of $50,000. 

Wise’s wire transfer limits are $1,00,000 per transfer. There’s also a daily debit/credit card limit of $2,000 which is capped at $8,000 every week. ACH payments are limited to $15,000 per transfer and can only be done once every 24 hours. These limits can vary depending on your location. 

Customer Support: Xoom offers 24/7 customer support through its website, email, and phone. Wise also provides 24/7 support via email, live chat, and phone, as well as a knowledge base to help users resolve small issues on their own.

Currency Options: Xoom supports over 98+ currencies, while Wise supports over 50.

Customer Review Comparison


Xoom has an overall rating of 2.9/5 stars on Trustpilot with over 22,000 reviews. 

Customers appreciate the fast and reliable transfer services and the easy-to-use platform. However, some customers have reported issues with customer support response times and transfer limits.

On the Apple App Store, Xoom has a rating of 4.8/5 stars with over one million reviews. It also has a rating of 4.7/5 stars with over 276,000 reviews on the Google Play Store.


Wise has received positive customer reviews, with an overall rating of 4.4/5 stars on Trustpilot with over 185,000 reviews. 

Customers appreciate the low fees, easy-to-use platform, and fast transfer speeds. Some customers have reported issues with the exchange rate.

On the Apple App Store, Wise has a rating of 4.6/5 stars with over 27,000 reviews. It also has 4.1/5 stars with over 247,000 reviews on the Google Play Store.

Both Xoom and Wise have high ratings from their customers, with Wise ahead in terms of overall customer satisfaction. 

Availability Comparison


Xoom offers services in more than 160 countries worldwide, including the United States, Canada, Europe, and many countries in South America, Asia, and Africa.


Wise is also a global player, with services available in over 80 countries worldwide, including the United States, Europe, Australia, and New Zealand. 

Xoom is best for availability as it offers its services in many more countries than Wise. 

Final Verdict

Xoom provides faster transfer speeds, a user-friendly app, and wider availability, making it a great option for urgent transfers. However, Wise often has better exchange rates, lower fees, and higher transfer limits, making it a better choice for larger and cheaper transfers.

If you’re looking for a fast money transfer service available in more countries, Xoom is the best. Wise is ideal for those who want higher transfer limits and lower fees. 

Be sure to use the details found throughout our comparison post to decide whether Xoom or Wise is best for you. 


Is there a better solution than Xoom? 

Remitly is another popular money transfer service that you may consider as an alternative to Xoom. It offers competitive exchange rates, low fees, a user-friendly app, and 24/7 customer support.

Additionally, Remitly is regulated by government agencies in several countries, ensuring that your money is safe. 

Which is cheaper, Xoom or Wise? 

Wise offers better exchange rates and lower fees than Xoom, making it the cheaper option.

How many currencies do Xoom and Wise support? 

Xoom supports over 98+ currencies, allowing users to send money to recipients in over 160 countries worldwide. Wise, on the other hand, supports over 50 currencies and allows users to send money to recipients in over 80 countries.


  1. https://www.trustpilot.com/review/www.xoom.com
  2. https://apps.apple.com/us/app/xoom-money-transfer/id529615515
  3. https://play.google.com/store/apps/details?id=com.xoom.android.app&hl=en&gl=US&pli=1
  4. https://play.google.com/store/apps/details?id=com.transferwise.android&hl=en&gl=US
  5. https://apps.apple.com/us/app/wise-ex-transferwise/id612261027
  6. https://www.trustpilot.com/review/wise.com
  7. https://wise.com/us/blog/wise-vs-international-bank-transfers
  8. https://help.xoom.com/s/article/how-much-money-can-i-send?language=en_US
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