Personal Features

XE Money Transfer

33

XE Money Transfer serves personal customers from a number of countries, giving them easy means to send money to more than 170 countries.

What XE Money Transfer does

  • International money transfers
  • Forward contracts
  • Market orders
  • Regular transfers

What XE Money Transfer doesn’t do

  • Personal account managers for low volume transfers
  • Cash pickup
  • Unique local multi-currency accounts
  • Digital wallets
  • FX optimized travel card

WorldRemit

67

WorldRemit offers

WorldRemit is tailored for individuals with account services that include:

  • Foreign bank transfers
  • Cash pick-up
  • Foreign bill payments (ie electricity, credit cards and television services)
  • Pre-paid mobile credit top-ups
  • Recurring / regular transfers are also supported

Bill payments and cash pick-up services are not available in all countries.

Two unique features of Worldremit are:

  • Mobile money - Shop in-store, online and withdraw cash at authorised agents
  • WorldRemit Wallet - Money can be received through their vast global network into a multi-currency wallet

WorldRemit does not offer

  • Travel debit cards
  • Access to a personal account manager (helpful when transferring large sums of money)

WorldRemit wins!

WorldRemit scores better in the Personal Features category.

WorldRemit
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Winner

Business Benefits

XE Money Transfer

67

XE Money Transfer gives business clients the option to choose from varied services.

What XE Money Transfer for business offers

  • Mass payments
  • Payments UPI for receiving online payments
  • Forward contracts
  • Market orders
  • Account managers

What XE Money Transfer for business doesn’t do

  • Business travel card
  • Multi-currency receiving accounts
  • Digital wallets
  • Solutions for online sellers
  • Accounting integration

WorldRemit

0

WorldRemit does not provide a business service, although WorldRemit could be used for business transfers. The Mobile Wallet could be used for business, however it may not be suited for this purpose.


XE Money Transfer wins!

XE Money Transfer scores better in the Business Benefits category.

XE Money Transfer
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Winner

Fees & Exchange Rates

XE Money Transfer

46

XE Money Transfer fees

Personal customers pay no transfer fees when sending money through XE Money Transfer.
 

Are there additional XE Money Transfer fees?

Yes, these come in the form of the exchange rate margin that XE Money Transfer applies on existing mid-market rates.


WorldRemit

46

WorldRemit Fees

Most of the WorldRemit fees are within the exchange rate offered. The exchange rate offered can and does change depending on payment type, receiving option and the amount being transferred.

  • Bank deposit - 0.5% - 2% depending on the destination country and amount
  • Bill payment fee - 1% - 4%
  • Cash pick up fee - 1% - 4%
  • Mobile airtime top up - 1% - 4%
  • Additional fee - $1 - $5 per transfer

New customers signing up via iCompareFX receive 3 transfers fees for free using the code 3FREE


It’s a draw!

Both equally compare in the Fees & Exchange Rates category.

It's a draw!
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Draw

Ease of Use

XE Money Transfer

79

What XE Money Transfer does well

Sign up process - Register online or over the phone, by providing some basic information.

Payment options - Bank account transfers, debit cards and credit cards.

Phone transfers - Initiate transfers over the phone.

Speed - Most transfers process within 1 - 2 business days.

Mobile app - Available for iOS and Android. 
 

Where XE Money Transfer could improve

ID verification - This process can take 1- 4 business days.


WorldRemit

86

Registration - Simple and easy through their website or mobile app.

ID verification -  If requested, it is a simple process that can be actioned through their mobile app or via email. Simply upload the requested documentation as photos from your phone. 

Transfer speed -  Speed ranges from instantaneous to up to 2 days. This depends on the country you are sending money to, and if it is a bank transfer or sending cash. 

Payment options - Uploading your funds to WordRemit is also a simple process. With in-country solutions such as Australia’s POLi or via debit card, you can instantly transfer your funds to WorldRemit. This speeds up the entire process of sending money overseas.

Mobile app - There is a WorldRemit mobile app to help manage your transfers end to end.


WorldRemit wins!

WorldRemit scores better in the Ease of Use category.

WorldRemit
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Winner

Support & Countries

XE Money Transfer

56

What XE Money Transfer does well

Supported destination countries and currencies - XE Money Transfer supports transfers to over 170 countries, in over 60 currencies.

Customer support - Customer support is available via email and over the phone, in English, French and Spanish.
 

Where XE Money Transfer could improve

Website languages - You can use the XE Money Transfer website only in English.


WorldRemit

88

WorldRemit supported countries

WorldRemit has an impressive list of supported countries. 

  • Mobile Money - 23 countries
  • Cash pick up - 80 countries
  • Bank transfer - 150 countries
  • Bill payment -  Selected countries
  • Phone support - Multiple languages
  • Multilingual website
  • Local settlement accounts in dozens of countries.

Customer support

There are reports on TrustPilot and through its mobile app reviews of poor wait times to talk to a customer service representative.


WorldRemit wins!

WorldRemit scores better in the Support & Countries category.

WorldRemit
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Winner

Trust & Transparency

XE Money Transfer

94

What XE Money Transfer does well

  • XE Money Transfer is fully regulated in different countries.
  • Rates as Excellent on Trustpilot.

Where XE Money Transfer could improve

Exchange rate margin transparency - XE Money Transfer’s exchange rates include margins that customers find out only after confirming their transfers.


WorldRemit

56

  • WorldRemit is regulated by multiple financial regulators globally including the FCA in the UK. 
  • Their company structure is sound and customers funds are segregated from their company accounts thereby reducing the risk for their customer.
  • The WorldRemit fee structure for money transfers includes a hidden fee within the offered exchange rate which reduces transparency. This is unfortunately common amongst most international money transfer companies.
  • High TrustPilot rating. However, there are an increasing number of poor reviews. This will be monitored by iCompareFX. 

XE Money Transfer wins!

XE Money Transfer scores better in the Trust & Transparency category.

XE Money Transfer
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Winner

The Result

Winner ribbon iconWinner

 XE Money Transfer

XE wins overall against WorldRemit.  The main reason for WorldRemit losing is due to it not offering business benefits.  It actually wins for individual features.  Both providers draw in the Fees and Exchange Rates category with swings for either provider across the Support and Countries and Trust and Transparency sections.