Need advice about which tool to choose?Ask the StackShare community!
Trustly vs Xoom: What are the differences?
Introduction
Trustly and Xoom are both popular online payment methods, each with distinct features and benefits. This article aims to provide a brief overview of the key differences between the two platforms.
Transaction Speed: Trustly offers instant bank transfers, allowing users to make payments or withdrawals in real-time. On the other hand, Xoom may take up to a few business days for transactions to be completed.
Geographical Availability: Trustly is primarily available for customers within Europe and serves mainly European banks. In contrast, Xoom operates on a global scale, with its services accessible in over 130 countries, supporting transactions in multiple currencies.
Payment Methods: Trustly exclusively integrates with bank accounts, enabling users to make payments or withdrawals directly from their bank. Meanwhile, Xoom provides more flexibility by allowing users to utilize various payment methods, including bank accounts, credit cards, and even PayPal accounts.
Transaction Limits: While Trustly may have certain transaction limits depending on the bank's policies, Xoom imposes specific limitations on its users. Xoom users can only send up to a certain amount per transaction, depending on their account status and verification level.
Fees: Trustly usually does not charge any fees for its services. However, Xoom applies transaction fees, which are typically a percentage of the transfer amount, varying depending on the sender and recipient countries.
Purpose of Use: Trustly serves as a payment method widely used in e-commerce platforms and online gambling websites, allowing users to make secure and convenient payments. Xoom, on the other hand, is primarily utilized for international money transfers, catering to individuals sending money to friends, family, or businesses overseas.
In summary, Trustly offers instant bank transfers within Europe, while Xoom operates globally, supports multiple payment methods, and specializes in international money transfers.
