Xoom Credit Card Fee Calculator

Sending money internationally through Xoom using a credit card involves several fees that can add up quickly. This calculator helps you estimate the total cost of sending money through Xoom when paying with a credit card, including transaction fees, exchange rates, and any additional charges.

How Xoom Credit Card Fees Work

When you send money through Xoom using a credit card, several fees apply:

Transaction Fee: A percentage of the total amount you're sending
Exchange Rate: The conversion rate between your currency and the recipient's currency
Credit Card Processing Fee: Typically 2.5% to 3.5% of the transaction amount
Currency Conversion Fee: Additional fee for converting currencies

Note: Fees may vary based on your location, the recipient's location, and the specific Xoom plan you're using. Always check Xoom's current fee schedule for the most accurate information.

Transaction Fee Structure

The transaction fee is typically a percentage of the amount you're sending. For example, if you're sending $1,000, you might pay a 1.5% transaction fee, resulting in $15 in fees.

Credit Card Processing Fee

When paying with a credit card, Xoom typically adds a 2.9% processing fee. This is in addition to the transaction fee.

Calculation Method

The total cost of sending money through Xoom using a credit card is calculated using the following formula:

Total Cost = (Amount to Send × Transaction Fee Rate) + (Amount to Send × Credit Card Processing Fee) + (Amount to Send × Exchange Rate)

Where:

Amount to Send: The principal amount you want to transfer
Transaction Fee Rate: The percentage fee charged by Xoom (typically 1% to 2%)
Credit Card Processing Fee: The percentage fee added by Xoom for credit card payments (typically 2.9%)
Exchange Rate: The conversion rate between your currency and the recipient's currency

Important: The actual amount received by the recipient will be less than the amount you send due to these fees. Always verify the final amount with the recipient.

Worked Example

Let's calculate the total cost of sending $1,000 to a recipient in another country with the following assumptions:

Amount to Send: $1,000

Transaction Fee Rate: 1.5%

Credit Card Processing Fee: 2.9%

Exchange Rate: 1 USD = 0.85 EUR

Using the formula:

Total Cost = ($1,000 × 0.015) + ($1,000 × 0.029) + ($1,000 × 0.85) = $15 + $29 + $850 = $904

The total cost would be $904, meaning you would need to have $904 in your account to send $850 to the recipient.

Remember: This is an estimate. Actual fees may vary based on your location and the specific Xoom plan you're using.

Comparison with Other Services

Here's how Xoom's credit card fees compare to other popular money transfer services:

Service	Transaction Fee	Credit Card Fee	Exchange Rate
Xoom	1.0% - 2.0%	2.5% - 3.5%	Market rate
Wise (formerly TransferWise)	0.5% - 1.0%	2.5% - 3.5%	Market rate
PayPal	3.49% - 4.49%	2.9% - 3.9%	Market rate
Western Union	3.0% - 5.0%	2.5% - 3.5%	Fixed rate

Xoom generally offers competitive transaction fees but may have higher credit card processing fees compared to some competitors.

Frequently Asked Questions

How accurate is this Xoom credit card fee calculator?: This calculator provides an estimate based on typical Xoom fees. Actual fees may vary based on your location, the recipient's location, and the specific Xoom plan you're using. Always check Xoom's current fee schedule for the most accurate information.
Are there any hidden fees when using a credit card with Xoom?: Yes, Xoom typically adds a credit card processing fee of 2.5% to 3.5% on top of the transaction fee. This fee is not always clearly displayed on the Xoom website, so it's important to factor it into your calculations.
Can I avoid the credit card processing fee with Xoom?: Yes, you can avoid the credit card processing fee by using a bank account instead of a credit card to fund your Xoom transfer. This will typically result in lower overall fees.
Does Xoom offer any discounts or promotions on credit card fees?: Xoom occasionally offers promotions and discounts, but these are not guaranteed and may not apply to credit card transactions. Always check Xoom's current promotions for the most up-to-date information.
How do I get the best exchange rate with Xoom when using a credit card?: Xoom typically uses market rates for currency conversion. To get the best rate, you may want to compare rates with other money transfer services or use a currency exchange service before sending your money through Xoom.