Comparing iKobo, Xoom, and Ria


A new breed of specialist money transfer startups has mushroomed, with several new big players emerging. Innovative business models, simplified pricing and a focus on using crowds to drive down costs has led to some spectacular successes. Ria, iKobo and Xoom have taken the market by storm. They all offer a similar service, and are ideal for cross border money transfers. Note that these are online providers, and with the exception of Xoom, your recipient may not be able to pick up cash in person, as with Western Union. On the other hand, great rates make these companies a good choice.

New Money Transfer Services

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Xoom is an online international money transfer service. We offer a secure, fast, and inexpensive way to send money from our website to friends and family across the globe. iKobo has been helping people send money safely, quickly and easily since 2001. With iKobo you can send money anytime day or night and money can be picked up using the iKobo prepaid Visa card at over 1 million ATMs worldwide. The iKobo card can also be used to make purchases at the over 20 million stores that accept Visa.
Ria Financial Services was founded in 1987 and it is today the third largest money transfer company in the world, with a global agent network of 170,000 locations in 130 countries on 6 continents. In addition to money transfer services, Ria offers Bill Payment, Mobile Top Ups, PrePaid Debit Cards, Check Cashing and Money Orders.


New Money Transfer Services Comparison

iKobo Ria Xoom
How can I fund my account?
Bank Transfer
Credit/Debit Card
Check/Money Order
How can I withdraw funds?
Bank Account Yes Yes Yes
Credit/Debit Cards Yes
Prepaid Credit Card Yes
Check Yes Yes
What’s the cost of sending US dollars?
$100 – Bank Account
$8 $3.99 $4.99
$100 – Credit/Debit Card
$8.25 $3.99 $9.99
$500 – Bank Account
$8 $3.99 $4.99
$500 – Credit/Debit Card
$21.25 $3.99 $25.99
$1000 – Bank Account
$8 $3.99 $4.99
$1000 – Credit/Debit Card
$37.50 $3.99 $50.99
What are the key facts?
Add Funds Times Up to 5 business days to receive the bank account verification deposit. Cash pickup – minutes to one day. Bank deposit 0-4 days, varies on country and amount. N/A
Transfer Times Instant Instant Instant
Withdrawl Times Up to 5 additional business days to have the funds cleared. From 5 minutes to 24 hours, depending on amount and country.
Reliability Rating 90.00% 95.00% 80%
Transfer Limits $1,000 with a bank account or credit card transfer. $2,999 per 30 day period. Up to $2,999 per 30-day period, up to $9,999 in 180 days.
Pickup Locations 20,000,000 170,000 38,822
Countries Covered 190 130 32

New Money Transfer Services Notes

Costs above relate to US dollar transfer to US locations. Rates for other currencies and country combinations vary, these figures are intended as a guide only.

Fees, limits and other transaction criteria will vary according to your personal circumstances, country and transaction history. Providers can be flexible, especially when you are able to verify your identity and build up an account history.

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