Ria Money Transfer vs. Xoom: Which one is better in 2023?

Looking to make an international transfer? You could use your bank, but you’re likely to find it slow and expensive.

A faster, more convenient option is to use an online money transfer service. There are lots to choose from, including Ria Money Transfer and Xoom (a PayPal service). Both of these US-based services offer electronic funds transfer online or via a dedicated app.

But which is better? To help you decide, we’ve put together a guide to Ria vs. Xoom. We’ll compare the two on everything from fees and exchange rates to transfer times – we'll also talk about an alternative, Wise.

Ria vs. Xoom - transfer fees compared

Let’s start with arguably the most important factor when choosing an international money transfer service - the cost.

Both Ria Money Transfer and Xoom charge an upfront transfer fee. These are variable, depending on factors such as the destination, transaction type, currency, amount and delivery method.

You’ll be able to see how much you’ll pay before sending your transfer. Each provider offers a calculator tool. So ,you can compare the cost of sending money with Ria vs. Xoom to Brazil, or Ria vs. Xoom to India, or wherever you want to send a payment to.

Ria’s transfer fees start from $1.¹ However, you could pay as much as $35 if you fund your transfer with a credit card.²

Xoom transfer fees start from $0 if you send over a certain amount, depending on the currency. And like Ria Money Transfer, paying with a card can be the most expensive way to fund your transfer.

💡 Here’s a quick example. If you want to send $500 to Europe with Xoom, you’ll pay a $4.99 fee to pay with your bank account. This shoots up to $15.49 if you pay with a debit or credit card. Send over $1,000 and it’s fee-free if you pay with your bank account. But use your credit card and the fee is $30.49.³

Exchange rates

Alongside the upfront transfer fee, it’s also important to compare exchange rates. The rate you’re offered for the currency conversion can make a big difference to the overall cost of the transfer.

Both Ria and Xoom add a margin to what is known as the mid-market exchange rate, or interbank rate.⁴ This is considered to be one of the fairest rates you can get.

By adding a margin to this rate, the provider can make money from the transfer. But unfortunately, it means you get a worse rate and less of your money reaches your recipient.

This is why providers such as Wise are such a money-saving option. You can send money worldwide with Wise for low, transparent fees starting from just from 0.43%. And best of all, Wise only ever uses mid-market exchange rates with no expensive margin added on top.

So when you’re comparing providers, it could be worth throwing in Wise vs. Xoom and Ria Money Transfer to get a true picture of all your options.

Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information.

Send money worldwide with Wise - you may save money

If you want a fast, convenient and low-cost way to send money around the world, check out Wise.

With a Wise multi-currency account, you’ll also get:

• Bank details in 10 currencies
• The option to hold, send, spend and convert 50+ currencies at once
• Send money overseas with low, transpa rent fees,
• Order a Wise card for a one time fee of just $9 - for use in 174 countries
• Mid-market exchange rates on all transactions.

See how much you can save with Wise:

Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information.

Ria Money Transfer vs. Xoom - countries

When choosing a money transfer service, you’ll want to know that your chosen destination (and its home currency) is covered.

Ria Money Transfer has 435,000+ locations in over 160 countries, while Xoom supports transfers to 159 countries worldwide.⁴

While the number of countries is pretty much the same, Ria Money Transfer possibly has the edge as it has so many agent locations.

Payment and delivery methods

Next, let’s compare Ria Money Transfer and Xoom for the number of payment and delivery methods each service supports.

This is important, as it gives you more options and more flexibility when setting up your transfer. For example, if your recipient doesn’t have a bank account, cash pickup means they can still get their money.

It’s also useful to remember that both Ria Money Transfer and Xoom charge different fees for its payment and delivery methods.

Credit cards tend to be the most expensive way to pay on either platform. You can experiment with mixing and matching payment and delivery methods using each site’s calculator tool, to see which is the most cost-effective combination.

Provider	Payment methods	Delivery methods (depending on destination)
Ria Money Transfer	Bank transfer Debit card Credit card Cash⁵	Bank deposits Cash pickup Mobile wallets Home delivery⁶
Xoom	Bank transfer Debit card Credit card PayPal⁷	Bank deposit Direct to debit card Mobile wallets Cash pickup Home delivery⁸

Ria vs. Xoom - transfer times

How quickly will a payment arrive with both Xoom and Ria Money Transfer?

Xoom claims that many of its money transfers arrive in minutes. However, it can potentially take up to a few days depending on the destination, payment and delivery method chosen.⁹

In comparison, Ria Money Transfers claims to deliver transfers paid for using a debit or credit card within a timeframe of 15 minutes to 6 hours. But pay by bank transfer and it could take up to 4 working days.¹⁰ So, although this is usually the cheapest option, it could also turn out to be the slowest.

Ria vs. Xoom - security

Lastly but most importantly - how safe is your money when you send a transfer with Ria Money Transfer or Xoom? Security is a crucial factor to consider, especially when sending large sums online.

The good news is that both services seem to take security seriously.

Xoom is a PayPal service, so you’ll enjoy the full power of the payment giant’s impressive security measures. This includes 128-bit data security encryption, fraud monitoring and 2-factor authentication.⁴

Xoom also offers a money-back guarantee. This ensures that you receive a full refund if your transfer doesn’t arrive at the designated account.³

In comparison, Ria Money Transfer uses identity verification and guarded payment information. Its website is protected by an Extended Validation SSL certificate, and it uses Payment Card Industry Data Security Standard (PCI DSS) as a measure against credit card fraud.⁴

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Bottom line

So in the battle of Ria vs. Xoom, which is better? Ultimately, it depends on your particular transfer, especially if cost is your primary focus.

The fees for sending transfers with either service can vary depending on the amount, currency and other factors. So, you’ll need to compare the two, remembering to look at the exchange rate as well as the fees.

You’ll also want to check that the payment and delivery methods you’d prefer to use are supported by your chosen provider. And take a look at those transfer times to see how fast your payment will arrive.

Remember that Ria Money Transfer and Xoom aren’t the only money transfer providers out there. You could save money by sending international transfers with Wise, benefiting from low fees and great exchange rates.

Learn more about Wise

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FAQs

What is better than Xoom?

Of course, Ria Money Transfer isn’t the only Xoom alternative out there. You might also want to do a comparison of Remitly vs. Ria vs. Xoom, as well of course taking a look at Wise with its low fees and fair exchange rates.

Remitly is a UK-based money transfer service - see how it compares to Xoom here.

Is Ria Money Transfer bad?

Ria has a 2.4 rating on TrustPilot, which isn’t the highest. However, 68% of customers have given Ria a 5-star rating (compared to 17% who gave a 1-star rating), so experiences of using the service obviously vary between customers.¹¹

How reliable is Ria Money Transfer?

Experiences of using Ria vary from customer to customer. The service claims it has carried out over a billion safe transfers, and its app is well reviewed.¹² But some TrustPilot reviews do mention delays or other issues with using the service.

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Sources used for this article:

1. Ria Money Transfer - FAQs on fees and exchange rates
2. Ria Money Transfer - How can I pay for transfers?
3. Xoom - Send money
4. MoneyTransfers - Ria Money Tran sfer vs.. Xoom
5. Ria Money Transfer - Help - Payment methods
6. Ria Money Transfer - Help - Ways to receive money
7. Xoom - Help - How can I pay?
8. Xoom - Help - What is Xoom and how does it work?
9. Xoom - Help - When will my money get there?
10. Ria Money Transfer - Help - How long do transfers take?
11. TrustPilot - Ria Money Transfer
12. Ria Money Transfer - Home

Sources checked on 30-Apr-2023.