When it comes to sending money internationally, Xoom by PayPal is a popular choice among Canadians, offering quick transfers and multiple payout options like cash pickup or bank deposits. However, Xoom doesn’t always provide the best exchange rates or lowest fees, and you might not be getting the most value out of your transfers. Fortunately, several Xoom alternatives in Canada can help you keep more money in your pocket. Exploring options beyond Xoom can uncover services with lower costs, better rates, or added convenience giving you greater control over your transfers.
What is Xoom?
Xoom is a digital money transfer service operated by PayPal, designed to simplify international transactions. It enables you to conveniently send money from Canada to more than 130 countries through various payout options, such as bank deposits, cash pickups, home deliveries, and bill payments. One of Xoom’s standout features is its ease of use—you can send money quickly using your bank account, debit card, or credit card, and recipients typically receive funds within minutes or hours, depending on the delivery method and destination.
However, Xoom is not always the cheapest option available. While it offers competitive speed, it can include fees that vary based on the transfer amount, destination country, and payment method. Transfers funded by a debit or credit card typically incur higher fees compared to bank-funded transfers. Moreover, Xoom applies a markup on exchange rates, meaning you won’t receive the true mid-market rate.
Xoom works well if your priority is convenience, but fees and exchange rate markups can quickly add up. Fortunately, Canadians have several other transfer providers offering lower fees and better rates. You might be surprised by how much you can save by exploring these Xoom alternatives in Canada.
Where to Find the Best Value for Your Currency Exchange
If you’re searching for the best value when exchanging currency in Canada, look no further than CanAm Currency Exchange. As someone who knows the ins and outs of finance, I can tell you with confidence that CanAm offers unbeatable rates—up to 3% better than the banks. Whether you’re converting USD to CAD or any other currency, you’ll always get more for your money with us.
What makes CanAm stand out from the crowd? It’s not just about having the Best Rates in Canada—it’s also about giving you a Quick & Transparent experience that you can trust. You won’t have to worry about hidden fees or complicated processes because we keep everything upfront and easy to understand. And with our Safe & Secure system in place, you can exchange money with total peace of mind.
We’re dedicated to offering a Premium Service that makes every transaction smooth and hassle-free. Plus, to make your life even easier, we’ve developed a Currency Converter App that lets you check real-time rates and calculate your conversions on the go. It’s your essential companion for getting the most out of every exchange.
Want to know how it all works? Visit “How It Works” to see just how effortless currency exchange can be with CanAm. Don’t settle for less get the best value for your money every time!
Apps like Xoom for Money Transfer in Canada
1. PayPal
PayPal, the parent company of Xoom, remains one of the most widely recognized payment solutions globally. It’s ideal for quick, secure, and convenient online transactions, especially if you already use PayPal for online shopping or freelancing. While PayPal is excellent for convenience and speed—funds can reach another PayPal account instantly—it’s not always the cheapest for currency conversion. Fees tend to be higher, and exchange rates typically include a markup. Still, its widespread acceptance and integration with numerous online retailers and marketplaces make it a practical choice for digital payments and smaller international transfers.
Key Features: Instant transfers between PayPal accounts, widely accepted online, buyer and seller protections.
Fees: Transfers within Canada (personal) are usually free. International transfers include fees and currency conversion markups (typically around 3%-4%).
Why Choose PayPal? Ideal for quick digital payments, online purchases, and small transfers due to its convenience and global reach.
2. Skrill
Skrill is a popular digital wallet solution, providing users in Canada and worldwide with a secure and flexible way to send and receive international payments. Like Xoom, Skrill enables users to transfer money quickly, but it also offers additional features like prepaid debit cards and cryptocurrency trading. Skrill’s transfer fees are transparent but can vary widely based on the payment method, with bank-funded transfers being cheaper than credit card payments. If you’re looking for a platform that combines money transfers, online payments, and financial tools in one place, Skrill is worth exploring as a Xoom alternative.
Key Features: Digital wallet, prepaid debit card, cryptocurrency trading, international transfers.
Fees: Fees vary by funding method; bank transfers typically around 1%–2%, while credit/debit card deposits incur higher fees. Currency conversions include markups around 2%–4%.
Why Choose Skrill? Great if you want a versatile digital wallet with multiple financial features beyond simple transfers.
3. Wise
Wise stands out among apps like Xoom for offering transparent, low-cost international money transfers using real mid-market exchange rates. Unlike other providers, Wise does not add hidden exchange markups; instead, you pay a small upfront fee clearly shown before sending. It’s perfect if you regularly transfer money internationally and value fairness and transparency. Wise’s multi-currency account also allows you to hold and convert funds in over 40 currencies, making it ideal for travelers, expats, freelancers, or businesses dealing internationally. Its user-friendly interface makes sending money straightforward and efficient.
Key Features: Real exchange rates without hidden markups, multi-currency accounts, debit cards for global spending.
Fees: Typically 0.5%–1% of the transfer amount plus a small fixed fee. No hidden currency markups.
Why Choose Wise? Ideal if you want consistently low fees, transparent rates, and an easy way to manage multiple currencies.
4. OFX
OFX is best known for facilitating larger international money transfers, often at highly competitive exchange rates. Unlike Xoom, which tends to be costlier for large transactions, OFX does not charge fixed fees on most transfers, making it excellent for significant transactions like paying tuition, property purchases, or international business payments. Its personalized 24/7 customer support is an additional benefit, ensuring that large transfers run smoothly. OFX supports transfers to over 190 countries and 50 currencies, providing a reliable, trusted, and cost-effective solution for substantial international payments.
Key Features: Competitive rates for large transfers, no fixed fees, personalized customer support, rate alerts.
Fees: No fixed fees, but a small exchange rate margin (typically 0.5%–1.5%) applies. Minimum transfer usually CAD 250.
Why Choose OFX? Perfect if you’re sending large amounts internationally and need personalized support with competitive rates.
5. WorldRemit
WorldRemit is a popular, easy-to-use transfer app offering flexible payout methods including bank deposits, cash pickups, mobile wallets, and even home delivery in some countries. Compared to Xoom, WorldRemit often provides more competitive rates and lower fees, especially for small to medium-sized transfers. Its simple interface and quick transfer times make WorldRemit particularly attractive if you’re regularly sending money abroad to friends or family. With broad global coverage (130+ countries), it’s a reliable choice for low-cost, fast transfers that suit various recipient needs, particularly in developing countries.
Key Features: Instant or same-day transfers, flexible payout options (cash pickup, mobile wallets, bank deposits).
Fees: Small fixed fee per transaction plus an exchange rate markup (typically around 1%–2%). Overall competitive compared to other cash transfer providers.
Why Choose WorldRemit? Ideal if you’re looking for fast transfers, competitive pricing, and multiple convenient ways for recipients to access funds.
Comparing Xoom Alternatives in Canada
To help you choose the right service, we’ve compared Xoom with five leading alternatives available to Canadians. While Xoom offers reliable international money transfers, exploring other options could help you save money, receive better exchange rates, or benefit from extra perks tailored to your needs. This side-by-side comparison covers the essentials: costs for domestic transfers within Canada, sending money to the U.S., and any additional advantages each platform provides. Take a closer look below to see which provider best fits your financial requirements, whether you’re sending money frequently or occasionally.
| Alternative Name | Best For | Cost to Send Money in Canada | Cost to Send Money to the U.S. | Extra Perks |
| Xoom | Fast cash pickups | Domestic transfers not supported | Fees from CAD 2.99 plus exchange rate markup (~2%-4%) | PayPal integration, bill payments |
| PayPal | Quick digital payments | Free (bank or PayPal balance); credit card fees apply | ~3%-4% exchange markup plus small fixed fee | Buyer/seller protections, widely accepted online |
| Skrill | Digital wallet & diverse features | Typically 1%-2% transaction fee; varies by method | ~3.99% currency conversion fee | Prepaid debit card, cryptocurrency trading |
| Wise | Transparent low-cost transfers | Low, clear fees (~0.5%-1%) with no exchange markup | ~0.5%-1% transparent fee, mid-market rates | Multi-currency account, debit card |
| OFX | Large international transfers | No fixed fees, small exchange markup (~0.5%-1.5%) | No fixed fees, small exchange markup (~0.5%-1.5%) | 24/7 customer support, tailored business services |
| WorldRemit | Flexible payout methods | Small fixed fee plus exchange markup (~1%-2%) | Small fixed fee plus exchange markup (~1%-2%) | Cash pickup, mobile wallets, instant transfers |
FAQ
Is customer support available for Xoom users in Canada?
Yes, Xoom offers customer support for users in Canada through phone and email. Canadian customers can access assistance directly via Xoom’s website or app, with multilingual support available to help resolve transfer-related inquiries quickly.
What is the cheapest way to send money internationally?
Typically, the cheapest way to send money internationally is through platforms like Wise, which offer transparent fees and real mid-market exchange rates without hidden markups. Avoiding credit cards and using bank transfers usually results in lower costs overall.
What payment methods does Xoom accept in Canada?
In Canada, Xoom accepts payments through bank account transfers (direct debit) and credit or debit cards. Bank account payments usually have lower fees, while credit or debit cards offer faster transfer speeds at slightly higher costs.
