Wise vs Xoom international transfers: Fees, exchange rates and transfer times in 2025

Navigating the world of international money transfers can be difficult, as various providers offer differing fees, exchange rates and transfer times. 

In this detailed comparison, we explore the offerings of two significant players in the industry: Wise vs Xoom. 

We’ll arm you with all the information required to make an effective decision when choosing how to send money abroad. 

(We’ll also be introducing you to TransferGo’s international money transfers as a viable alternative offering competitive rates, transparent fee structures, swift transfer times—and higher customer review ratings than both Wise and Xoom!)

Wise overview

Previously known as TransferWise, Wise has carved out a niche for itself with a commitment to transparency and affordability. 

This money transfer provider is well known for offering transfers at mid-market rates, making it an attractive option for those who seek cost-effective solutions for their international transfers.

Xoom overview

Managed by PayPal since 2015, Xoom extends its services to over 160 countries, allowing users to send money via bank transfers or cash pickups. 

Despite being a robust service underpinned by PayPal’s credibility, Xoom’s fee structure and exchange rates can be less competitive than many other online platforms.

Wise vs Xoom: Key differences

Wise is generally renowned for its transparency, often being a solid choice for those who expect upfront disclosures about fees and exchange rates. 

Xoom, while offering a fairly wide range of transfer options, often includes higher fees and an exchange rate margin.

Exchange rates and transfer fees

When making an international transfer, costs usually come down to two charges: exchange rates and transfer fees.

Here’s a Wise vs Xoom comparison in terms of these two factors: 

Wise exchange rates and transfer fees

Wise pledges transparency with no hidden fees and a promise of mid-market exchange rates. 

Users benefit from a clear understanding of costs upfront—a sharp contrast to traditional banks and some transfer services that incorporate markups.

Just like Wise, TransferGo provides upfront fee disclosure, allowing users to calculate the total cost of their transfer before initiating it.

Xoom exchange rates and transfer fees

Xoom’s fee model is variable and can become costly depending on the transfer route and payment method.

Although it offers a fee-free option when using PayPal or a bank account for certain transactions, other methods may come with significantly high fees.

According to Monito, Xoom charges ‘some of the worst fees and exchange rates in the market’, and keeps 74% of these costs hidden from users. 

In this respect, those seeking a more cost-effective and transparent solution will find alternative providers like Wise and TransferGo more attractive.

Service quality and user experience

When it comes to Wise vs Xoom platforms, user experience and service quality differ—especially when considering customer feedback.

Wise customer satisfaction

Wise’s user interface and transparent dealings get high marks from users, reflected in a pretty solid TrustPilot score of 4.2 out of 5 stars. 

This is probably due to the platform’s straightforward, no-nonsense approach of displaying fees and exchange rates at the time of transaction.

TransferGo surpasses Wise in customer satisfaction with an “Excellent” TrustPilot rating of 4.7/5, making it a more popular alternative among money transfer shoppers.

Xoom customer satisfaction

Xoom provides a comprehensive service backed by PayPal, ensuring a high level of security and customer support. 

However, its ‘poor’ TrustPilot score (1.9/5) suggests that the service might not always meet user expectations, particularly regarding fee transparency and cost.

Transfer times

Wise money transfer times

Wise typically processes transfers swiftly, with many transactions completed within minutes. 

However, some can take up to four business days depending on several factors like the source and destination countries.

Xoom money transfer times

Xoom also offers fast transfers, particularly for card-funded transactions, which can be almost instantaneous. However, bank-funded transfers and non-traditional routes might extend the transfer times significantly.

In comparison, TransferGo offers several delivery options based on users’ preferences. 

Standard transfers generally arrive within one business day, with the option to expedite delivery for faster transactions, as fast as 30 minutes, or opt for slower transfers with zero fees.

Security and trustworthiness

Both Wise and Xoom are highly secure, leveraging their respective regulatory frameworks to ensure user safety. In the UK both providers operate under the strict regulations of the UK’s Financial Conduct Authority.

Just like Wise and Xoom, TransferGo also places a strong emphasis on security and user trust, aligning with the industry’s best practices. 

As a licensed Authorised Payment Institution regulated by the Financial Conduct Authority, TransferGo adheres to stringent regulatory standards, ensuring the safety and security of users’ funds thanks to advanced encryption protocols and security measures to protect users’ personal and financial information, mitigating the risk of unauthorised access or fraudulent activities.

Wise vs Xoom: Final verdict

When choosing between Wise and Xoom for your international money transfer needs, it’s essential to weigh up the distinct advantages each service offers. 

Wise stands out for its commitment to transparency and affordability, providing users with the mid-market exchange rate and a clear, upfront fee structure. This approach ensures that users are fully aware of the costs associated with their transactions, avoiding any unpleasant surprises.

On the other hand, Xoom, backed by the robust infrastructure of PayPal, offers a broad spectrum of transfer options and a high degree of convenience, especially for those needing to send money through less common transfer routes. However, its fee structure can be opaque and often higher compared to Wise, especially when using credit or debit cards for funding transfers.

Ultimately, if cost-effectiveness and transparency in pricing are your top priorities, Wise may be the more suitable option. However, for those prioritising service availability and diverse transfer methods, Xoom provides a compelling service, though at higher costs. Both providers ensure a high level of security, but Wise’s user-friendly platform and straightforward fees offer a slight edge in overall user satisfaction.

If you’re in search of a streamlined option with competitive exchange rates, transparent fee structures and quick transfer times, consider TransferGo! Our platform is designed for ease of use, emphasising transparency and robust security measures, making it a trusted, hassle-free choice for millions of users globally.

Wise vs Xoom: Frequently asked questions

What are the key differences between Wise and Xoom for international money transfers?

Wise is renowned for its transparency, offering mid-market exchange rates and clear fee structures. Xoom, managed by PayPal, provides diverse transfer options but tends to have higher fees and less favourable exchange rates.

How do Wise and Xoom compare in terms of exchange rates and transfer fees?

Wise commits to no hidden fees and mid-market rates, making it generally more cost-effective. Xoom, while providing various payment options, can incur higher fees and include an exchange rate margin, impacting overall costs.

What are the transfer times like for Wise and Xoom?

Wise often completes transfers within minutes, though some transactions could take up to four days depending on the route and countries involved. Xoom’s transfer times are also swift, especially for card-funded transactions, but bank-funded transfers may take longer.

How do customer reviews and satisfaction compare between Wise and Xoom?

Wise usually receives positive feedback for its user-friendly platform and transparent pricing, reflected in strong TrustPilot scores. In contrast, Xoom, despite its broad service range, often falls short in customer satisfaction, particularly due to its fee structure and cost.

What details does Wise require for a money transfer?

To make a transfer with Wise, you’ll need to provide your own account information along with the following details:

●  The name and address of the recipient’s bank.

●  The recipient’s name and address.

●  The recipient’s account number or IBAN (International Bank Account Number, commonly used for bank account identification).

●  The recipient’s BIC/SWIFT code.

What details does Xoom require for a money transfer?

Here’s how to send money using Xoom through a web browser:

●  Navigate to ‘My Account’ and select ‘Send money’.

●  Choose the recipient’s country.

●  Decide how the money will be delivered (options include bank deposit, mobile wallet, or cash pickup and vary by country).

●  Enter the recipient’s bank or mobile wallet details, or select a cash pickup location.

●  Provide the recipient’s personal information.

●  If it’s your first transaction, complete your profile setup.

●  Select your payment method.

●  Review all details to ensure accuracy.

●  Confirm the transaction by clicking ‘Send’.

How can I contact Wise?

You can contact Wise on +61 1800 549 837 or via their online help page.

How can I contact Xoom?

You can contact Xoom on +44 207 949 4440 from the UK or via their online help page.

Wise vs Xoom: Sources

Wise sources

● TrustPilot, Wise review

●  Wise, How long does a transfer take

●  Wise, Pricing

Xoom sources

●  TrustPilot, Xoom review

●  Monito, Xoom review

●  Xoom, Homepage

●  Xoom, How much does it cost to send money with Xoom?

●  Xoom, When will my money get there?

For fast and affordable money transfers you can trust, sign up for TransferGo today.

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The information provided in this blog post is for general informational purposes only and reflects the author’s personal opinion. Any comparisons made between TransferGo and other businesses are intended to highlight differences and provide a fair overview, based on publicly available information as of the date of publication.

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