Xoom is an international money transfer service by PayPal, offering quick and easy money transfers for some surprisingly high fees in some cases. Payment options are flexible, with the option of transferring money from your PayPal account or bank account, or using your debit or credit card to pay. Of course, the recipient will also have to pay a fee on pickup as well, which makes Xoom an expensive option on both ends.
Xoom in Canada has high transfer limits that go up the more you spend with Xoom, which is an interesting feature if you're sending significant amounts of money. There's also a handy Xoom app you can use to send money when you're on the go, and a reassuring money back guarantee, in case the transfer doesn't make it for whatever reason.
Xoom features
Here's what you'll find with Xoom in Canada.
Why You Want It
4 different delivery methods available + Money-back gurantee.
Special Features
- Powered by PayPal
- Money-back guarantee
Provinces
ALL
Features
Mid-market Exchange Rate?
Hidden Fees?
Example Fees For $1,000
- USD: $0.00 to $21.49
- EUR: $1.99 to $21.49
- GBP: $0.00 to $21.49
- INR: $0.00 to $21.49
- CNY: $0.00 to $21.29
Example Transfer Speed For $1,000
- USD: Within minutes to within 2 days
- EUR: Within 15 minutes
- GBP: Within 15 minutes
- INR: Within minutes to 2 hours
- CNY: Within 30 minutes
Debit Transfer?
Credit Transfer?
Bank Account Transfer?
Paypal Transfer?
Transfer Limits
- Level 1: $999 per day, $5,000 per 30 days, $9,999 per 180 days
- Level 2: $12,500 per day, $25,000 per 30 days, $40,000 per 180 days
- Level 3: $75,000 per day, $90,000 per 30 days, $130,000 per 180 days
Xoom product rating: 3.5 stars
Xoom is a quick, easy, and flexible way to send money to people in other countries, but its fees leave something to be desired.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Xoom
Xoom has a lot of features that make it worth considering.
Pros
Different delivery methods available
Xoom advertises that they have 3 ways you can send money, including as a bank deposit, for cash pickup, or as a cash delivery. When researching, we found a 4th method where you could send money directly to someone's mobile wallet. Not all of these methods are available everywhere, however, as we discuss below.
Fast delivery
Xoom money transfers are often available the same day, even within minutes if you select cash pickup as your delivery method. This depends on whether Xoom has partnered with local cash pickup locations, of course, and are not available in all countries. For the countries we checked, we didn't see transfer times longer than 2 days, although times are going to depend on where you're transferring money to, and can change at any time.
Free transfers to many countries for some methods
Sending some transfers via bank deposit is free to some countries if you're paying with your PayPal balance or your bank account, although it can depend on how much you're spending. For example, you'll pay $2.99 to send $200 from Canada to a U.S. bank deposit from your PayPal account, but you'll pay $0 if you send $1,000. Xoom makes these fees very easy to find, however, so it's simple to check what you'll pay before you get started.
Current status updates available
After you send a transfer, you can keep track of its progress with automatic updates, including email notifications, text updates, online through the app, or by calling Xoom customer support.
24/7 customer service
Xoom has customer service representatives you can call any time of the day if you have any problems or questions about Xoom's service or your transactions. There's also an extensive online help centre that covers the majority of common questions and issues that arise in a clear and easy to use format.
Secure transfers
Xoom is a service offered by PayPal, who has been in the business of doing secure financial transactions for over 20 years. Not only do they use secure 128-bit encryption to keep your data secure, their servers are protected both physically and electronically. They also have regular security audits, and Xoom employees are subject to financial and criminal background checks. So, if you're wondering if Xoom is safe, it's fair to say that it is.
Money-back guarantee
On top of everything else, Xoom guarantees that the money you send will be received to the account you specify, or they'll refund your transaction in full. So, in the rare case that something goes wrong, you're protected.
The cons of Xoom
Of course, nothing is perfect, and Xoom does have a couple of downsides.
Cons
Not all delivery methods are available in all countries
When doing our research for this article we found that while bank deposits were available as a transfer method for most countries, cash pickup was less common. And very few countries had a cash delivery option. We did, however, stumble across a couple of countries with the unexpected 4th option to send directly to someone's mobile wallet.
Fees are higher than some other options
If you're looking to save money by using the cheapest option for sending international money transfers, you might want to look elsewhere. Xoom fees are, on average, higher than some, and can involve additional fees through PayPal, or for credit card cash advances and the like.
Xoom alternatives
If you're not sure Xoom is the right choice for you, here are some other options you might consider.
 |  | | |
|---|---|---|---|
| Account | Xoom | Wise Business Account | Wise |
| Genius Rating | |||
| Why You Want It | 4 different delivery methods available + Money-back gurantee. | Send funds to 160+ countries in 40+ currencies + Get real exchange rates. | Global money transfers that are up to 8x cheaper than banks + No hidden fees. |
| Mid-market Exchange Rate? | | | |
| Hidden Fees? | |  | |
| Example Fees For $1,000 |
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| Example Transfer Speed For $1,000 |
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| Debit Transfer? | | | |
Show More | |||
| Apply Now See more Paypal products Compare | Apply Now See more Wise products Compare | Apply Now See more Wise products Compare |
FAQ
Who is Xoom for?
Xoom is really for anyone who wants to do an international money transfer. While the fees can be higher than some other options, you're given some added peace of mind knowing that the service is built by PayPal, and backed by their decades of security expertise and a money-back guarantee.
How does Xoom work in Canada?
Xoom works well in Canada, and is a very simple and straightforward method for sending international money transfers. You can send money as a bank deposit, cash pickup, cash delivery, or directly to a mobile wallet. Of course not all of these options are available everywhere, so you may be limited to just the basics. You can learn more about what Xoom has to offer here.
What are Xoom transfer costs?
Xoom fees depend on where you're sending money, how you want that money to be received, how you're paying for the transfer, and how much money you're sending. Basically "it depends." Xoom has made it easy to find out how much a particular transfer will cost before you even sign up, so there won't be any surprises in the process. It's important to note that while you can pay for your transfer with your credit card, it may be counted as a cash advance, so you may end up paying extra fees (and a higher interest rate) if that's the case.
How fast is Xoom?
Most Xoom money transfers are usually available the same day or within a day or 2. Once you make a transfer, you can sign up for status updates through text or email, as well.
Is Xoom safe?
Xoom is a PayPal service, and is backed by PayPal's extensive experience with security and encryption. Not only do they use 128-bit encryption to secure your data in transit, their servers are protected both physically and electronically, and all Xoom staff are strictly vetted before hiring. Xoom is safe to use, and in the rare event that there is a problem, they offer a money-back guarantee.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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