When considering international money transfer services, many people find themselves weighing the options between Remitly and Xoom. This article aims to provide a comprehensive overview of both services, comparing their prices, features, and overall usability to help you make an informed decision.
A quick overview on Remitly and Xoom
What is Remitly?
Remitly is a digital remittance service that enables users to send money internationally. It supports various payment methods, including bank accounts, debit cards, and credit cards, offering recipients multiple delivery options such as bank deposits, cash pickups, mobile wallets, and home delivery.
People commonly use Remitly to send money to family or friends abroad. The service stands out for its competitive exchange rates, transparent fee structure, and the ability to choose transfer speeds, including an express option for near-instant transfers.
What is Xoom?
Xoom is an online remittance service that specializes in cross-border money transfers. It allows users to send money internationally through various channels, including bank accounts, cash pickup locations, and mobile wallets. The service is integrated with PayPal, enhancing its credibility and security.
People commonly use Xoom to support family members abroad, manage finances across countries, and handle international business payments. Key features include rapid transfer speeds, real-time transaction tracking, and a user-friendly interface. However, some users have reported challenges with account verification and occasional technical issues during transactions.
Pricing of Remitly and Xoom
Remitly's pricing structure is designed to be transparent, with fees varying based on the destination, transfer amount, payment method, and transfer speed. For instance, sending less than $1,000 to India incurs a $3.99 fee, while amounts over $1,000 are fee-free. However, credit card transfers from the U.S. may attract a 3% fee, and exchange rate margins range from 1% to 3.7% above mid-market rates.
Xoom also charges fees based on the transfer amount, destination, and payment method. Users can calculate these fees using Xoom's online fee calculator. While Xoom's fees are transparent, they can be higher than some competitors, and exchange rates often include a markup, impacting the total transfer cost. Both services offer clear fee structures, but Remitly generally provides more competitive pricing.
Features of Remitly and Xoom
Remitly features
Remitly offers several unique features that cater to the needs of consumers looking for reliable and efficient international money transfer services:
- On-time Delivery Guarantee: Ensures timely delivery of funds or a refund of fees if the transfer is delayed.
- Multiple Delivery Options: Provides flexibility with options like bank deposits, cash pickups, mobile wallets, and home delivery.
- Real-time Transfer Tracking: Allows users to monitor their transactions in real-time for added peace of mind.
- Transparent Fee Structure: Offers clear and upfront information about fees, helping users understand the total cost of their transfers.
- Advanced Security Protocols: Utilizes high-level encryption and security measures to protect financial information and ensure safe transactions.
Xoom features
Xoom offers several unique features that cater to the needs of consumers looking for reliable and efficient international money transfer services:
- Integration with PayPal: Enhances credibility and security, providing users with a trusted platform for their transactions.
- Multiple Transfer Options: Allows users to send money through bank deposits, cash pickups, mobile wallets, and bill payments, catering to diverse recipient needs.
- Real-time Transaction Tracking: Enables users to monitor their transfers in real-time, ensuring transparency and peace of mind.
- Transparent Fee Structure: Provides clear and upfront information about fees, helping users understand the total cost of their transfers.
- Global Customer Support: Offers assistance in multiple languages, ensuring help is available whenever needed.
Comparing Remitly, Xoom and OneSafe
Why choose one over the other?
- Why Use Remitly Over Xoom: Remitly offers more competitive exchange rates and a transparent fee structure, making it a cost-effective choice for international money transfers. Additionally, Remitly provides multiple delivery options, including home delivery in select regions, which Xoom does not offer.
- Why Use Xoom Over Remitly: Xoom's integration with PayPal enhances its credibility and security, providing users with a trusted platform for their transactions. Moreover, Xoom often completes transactions within minutes, offering faster transfer speeds compared to Remitly's standard options.
Considering OneSafe vs Remitly and Xoom
- Why Use OneSafe Over Remitly and Xoom: OneSafe offers seamless USD to USDC conversion on Polygon, making it ideal for Web3 companies needing instant, borderless transactions. Additionally, OneSafe provides end-to-end expense and payroll management, streamlining financial operations for global teams in a way that Remitly and Xoom do not.
What are the customers saying?
Remitly reviews
Remitly has received a mix of positive and negative reviews. Users have reported issues such as delays in transfers, difficulties with customer support, and challenges in resolving problems. These mixed experiences suggest that while many customers are satisfied with Remitly's services, there are areas where the company could improve, particularly in customer support and transaction reliability. Check out more Remitly reviews here.
Xoom reviews
Reviews for Xoom highlight several recurring issues. Users frequently mention challenges with account verification, unexpected transaction cancellations, and higher fees compared to other services. Despite these concerns, the majority of users express satisfaction with Xoom's services. Check out more Xoom reviews here.
OneSafe reviews
Users have consistently praised OneSafe for its exceptional customer support and the ease with which it simplifies complex banking tasks for Web3 companies. The platform's ability to streamline payroll processing and manage expenses efficiently has been highlighted as particularly useful by many customers.
- “OneSafe has the best customer support I've ever experienced from a bank.” - Amit Chu, Investments @ Celo Foundation
- “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.” - Marco, CEO of Ensuro
Want to learn more? Check us out here.
Remitly, Xoom, or OneSafe: Which is the best platform for you?
In conclusion, whether you choose Remitly, Xoom, or OneSafe, each service offers unique benefits tailored to different needs. However, for businesses looking for a comprehensive, modern solution that simplifies global financial operations, OneSafe stands out. With its seamless USD to USDC conversion, end-to-end expense management, and exceptional customer support, OneSafe is a game-changer for Web3 companies. Explore more about what OneSafe can offer your business today.
