Convenient and fast, rates not great – Xoom Money Transfer Review

I guess the speed depends on your country and bank. I send money from US to Philippines and I get the money in my peso account in less than a minute; it's that instant! The mobile reloads are convenient too when I'm abroad. My only complaint is that the exchange rates are pretty bad. I understand they need to make profit, but they don't even fluctuate with the real rate. The peso has gone from 46.3 to 46.9 and the Xoom rate stays at 45.3-6. That could be done a little better, especially as they already charge a 4.99 fee for the transfer anyway. I lose almost $30 in exchange. If it wasn't for the instant availability, I'd probably choose another service. But the app itself works really well.
Review by Firedao on Xoom Money Transfer.