Ria Money vs Xoom

Ria Money Transfer charges fees that will vary depending on:

• The destination

• Method of payment

• How the beneficiary receives money

Some destinations have no fees, while others will incur greater fees. As an example, if you were looking to send £600 to Australia in AUD, you would expect to pay a fee of £9.

Xoom fee structure will alsovary depending on:

• The transaction type

• Your payment method and the currency you will pay with

• The amount of the transaction

• Which country the transaction is going to

• Which currency you select for your recipient to receive

Using the same example, sending £600 to Australia would have fees of £1.49 or £10.99 depending on your payment and payout method.

The provider does add a markup on the mid-market rate, typically between 0.5 - 1.2%, although this margin can go up to 2.5% in some extreme cases. The exact margin depends on the two currency pairs you are looking to make a transfer between but in general, Ria Money Transfer provides a competitive exchange rate.

Xoom adds a margin onto the mid-market rate. There is no clear formula for these margins (at least, not that has been published), and they do vary depending on what currency you are converting your transfer to.

As a rule, however, the provider tends to add a markup between 1 – 3% onto the mid-market rate.

Ria has more than 435,000 locations in over 160 countries, so it’s well-placed to help you make an international transfer to a large number of countries across the globe.

Xoom currently supports transfers to 159 countries across the world.

Transfer times with Ria Money Transfer depend on the amount you are sending, your payment method, and where you are transferring money between. Some transfers can be initiated within 15 minutes, while others may take up to 4 working days to process (for example, if you are making a bank transfer compared to paying on your debit card and selecting a cash pickup).

Xoom’s transfer times are equally variable: while some transfers are processed within minutes, others can take a few working days depending on the currency pairs you are transferring between, your payment method, and the payout option you select.

The two payment methods Ria Money Transfer offers are credit or debit card. For payouts, you can select for your recipient to receive the money either as cash or as a bank transfer, which may take more time to process.

The four main options you can use to pay for your transfer with Xoom are credit or debit card, bank account, or your PayPal balance. The payout options vary depending on where you are sending your funds to, but options include cash delivery, bank deposits, or air-time top-ups.

The provider has over 5,000 reviews on Trustpilot with an overall ‘Excellent’ rating of 4.5 out of 5.

Positive reviews frequently praise Ria Money Transfers for:

• Fast transfers

• Competitive rates

• Ease of use

• Excellent service

Although there aren’t a large number of negative reviews, those that have reviewed te company are normally to do with the customer service users received.

Xoom has over 21,000 reviews on Trustpilot with an overall ‘Excellent’ rating of 4.5 out of 5.

Positive reviews include:

• Fast transfer times

• User-friendly website

• Competitive fees

Out of the more negative reviews, many users express frustration at delayed transfer times due to the company’s verification process or high exchange rates.

As well as a user-friendly website, the provider also has an app to make money transfers even more convenient. This is available for free on both iOS and Android. Ria is available in a few languages, including English and Polish.

A few measures the company takes to keep your money safe includes identity verification, guarded payment information, and a dedicated team of security experts. The provider has adopted the Payment Card Industry Data Security Standard (PCI DSS) which assists in fighting credit card fraud by targeting controls around cardholder data. Ria’s online platform also has an Extended Validation SSL Certificate.

Xoom has a user-friendly website and free app available on both iOS and Android, with 12 languages available on the website including English Spanish, and French.

The provider will typically ask you go to through a few steps to verify your identity when first setting up your account with them, and also use 128-bit data security encryption to keep your information safe. It also uses both SMS notifications and 2-factor authentication as additional security measures.

Sending $200

Sending $200 USD to Australia will incur fees between $5 and $12 with Ria Money Transfer at an exchange rate of $1 USD = $1.367 AUD at the time of writing. Paying by bank transfer incurs the lowest fees while paying with a credit card would be the most expensive. Paying by card would have a transfer time of around 15 minutes, while bank transfer would be closer to 4 business days.

Sending $1,000

This transaction would incur fees between $5 and $35 depending on the payment method you use, with the same exchange rate margin as above. The transfer times remain the same.

Sending $20,000

Ria Money Transfer's maximum send amount online is $2999, so it's not possible to get an accurate quote with a sum this large. To send more than the online limit, you can provide further verification at an agent location.

Sending $200

At the time of writing, sending $200 to Australia would be transferred with Xoom at an exchange rate margin of 1 USD = 1.3590 AUD. The fees would be between $4.99 and $6.49 depending on what payment method you select (credit/debit card being more expensive - although slightly cheaper for a cash pickup vs bank transfer). The transfer time could be minutes with a cash pickup, or up to 2 working days with a bank transfer.

Sending $1,000

Sending $1,000 to Australia with Xoom would have an exchange rate markup of 1 USD = 1.3882 AUD at the time of writing, and incur no fees for a bank transfer, or a fee of $30.49 when paying with credit or debit card. Again, cash pickup fees are slightly lower - $4.99 for paying via a bank account, and $20.49 when paying by card. The transfer times remain the same.

Sending $20,000

Sending this amount to Australia would have either no fee when paying by bank transfer, or a fee of $601.49 if paying by card - which really emphasises how important it is to consider your payment method! This transfer would take approximately 2 working days at an exchange rate margin of 1 USD = 1.3910 AUD when writing, and may need further proof of identity provided before you can initiate the transfer.