Which scores better when comparing OFX vs Xoom? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
OFX
Overall score:
87
87
Xoom
Overall score:
44
44
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
59
59
OFX offers international money transfer solutions for individuals specialising in international bank transfers.
33
33
Xoom lets personal customers transfer money to a significant number of countries, through different channels.
89
89
Where OFX really shines is their business solutions and partnerships. Global businesses small and large can take advantage of their variety of solutions to work with global customers and suppliers. Most importantly they help manage currency risk.
0
0
Xoom does not provide services for businesses.
83
83
Exchange rate margin fee - OFX offered exchange rate includes a fee of 0.5% and 0.7%. This is low and competitive.
By calling an OFX Expert and discussing your money transfer needs, it may be possible to arrange better pricing. In particular for larger sums and large yearly volume trades.
Yes. When sending under CA$10,000 or AUD$10,000, there is an additional fee of $15.
OFX offers customers referred by iCompareFX a low exchange rate margin fee of 0.4%. This is an outstanding offer and is sure to lower all your money transfer costs which means more money being transferred.
8
8
Exchange rate margin fee - This is up to 2% for commonly traded currencies, and can be more than 5% for exotic currencies.
Additional fees - The transfer fee varies based on the currencies being traded, the transfer amount, the payment method and the transfer method.
71
71
Sign up process - Fast and intuitive.
ID verification - If requested, ID verification is generally your drivers license ID number and a quick phone call to discuss your money transfer requirements.
Transfer speed - 1 - 2 business days upon payment.
Mobile App - To initiate money transfers. Current and historical exchange rates are also available.
Payment options - There are limited payments available other than local bank transfers.
Minimum transfer amount - The minimum transfer amount is US$1,000, AU$250, CA$250, £100, €250.
68
68
Sign up - Registration is simple, and becomes even easier for existing PayPal customers.
ID verification - Level 1 membership comes without the need for ID verification.
Payment options - Bank transfers, debit cards, credit cards and PayPal.
Mobile apps - Available for Android and iOS.
Minimum transfer amount - Low minimum transfer amount.
Transfer limit - Xoom has 24-hour, 30-day, and 180-day transfer limits.
81
81
Supported destination countries - OFX supports over 55 currencies and many more exotic currencies.
Global presence - OFX has seven global offices in Australia, New Zealand, Singapore, Hong Kong, United States, Canada and the UK.
Customer support - Customer support is available locally in the global offices, over the phone and via email.
Languages - Customer service and their website is in English only.
Customer sign up countries - Currently OFX supports customer registration from USA, Canada, UK, Europe, Singapore, Hong Kong, Australia and New Zealand.
75
75
Supported payment currencies - Xoom lets customers send money from more than 70 countries.It accepts payments in USD, CAD, EUR and GBP.
Supported destination currencies - Xoom lets you send money to around 130 countries, in around 80 currencies.
Supported countries for bill payments - Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicargua and Vietnam.
Multilingual customer support - Customers get multilingual customer support. Languages include English, French, Spanish, Italian, German, Filipino, Chinese and Arabic.
Foreign language website access - Xoom's website is available in a number of languages such as French, Spanish, Italian, German, Portuguese, Polish, Arabic, Filipino, Chinese and Vietnamese.
69
69
Exchange rate margin fee transparency - OFX’s offered exchange rates include margin fees. While the exchange rate margin fee is low, it would be beneficial for current and future customers to clearly understand the fees. This would improve customer satisfaction of their money transfer service.
38
38
Regulated - Xoom is regulated by the US federal government and various state regulatory bodies. It is licensed to provide its services in all its countries in its transfer network.
Trustpilot - Xoom gets an Excellent rating on Trustpilot. However, a number of complaints highlight lengthy turnaround times and failed transfers.
Fees transparency - Xoom applies a margin on existing exchange rates. This can be over 5% for some currencies.
Customer support - The company does not seem to respond to any of its customers' reviews on Trustpilot and the Apple App store. Many customers also complain about receiving poor customer service over the phone.
WinnerNo contest here across OFX and Xoom with OFX a clear winner with an impressive score of 87. Despite Xoom not having any business services, it just can not compete across OFX's cheaper and transparent fees and exchange rates and superior money transfer services.
