This paper describes a particular formulation of the extended finite element method (XFEM) specifically conceived for application to existing discontinuities of fixed location, for instance, in geological media. The formulation is based on two nonstandard assumptions: (1) the use of sub-interpolation functions for each subdomain and (2) the use of fictitious displacement variables on the nodes across the discontinuity (instead of the more traditional jump variables). Thanks to the first of those assumptions, the proposed XFEM formulation may be shown to be equivalent to the standard finite element method with zero-thickness interface elements for the discontinuities (FEM+z). The said equivalence is theoretically proven for the case of quadrangular elements cut in two quadrangles by the discontinuity, and only approximate for other types of intersections of quadrangular or triangular elements, in which the XFEM formulation corresponds to a kinematically restricted version of the corresponding interface plus continuum scheme. The proposed XFEM formulation with sub-interpolation, also helps improving spurious oscillations of the results obtained with natural interpolation functions when the discontinuity runs skew to the mesh. A possible explanation for these oscillations is provided, which also explains the improvement observed with sub-interpolation. The paper also discusses the oscillations observed in the numerical results when some nodes are too close to the discontinuity and proposes the remedy of moving those nodes onto the discontinuity itself. All the aspects discussed are illustrated with some examples of application, the results of which are compared with closed-form analytical solutions or to existing XFEM results from the literature.