Xoom.com is an online international money transfer service that is secure, fast and inexpensive. Using their site is an efficient way to send money overseas o your family, friends or to yourself.
Whether you are transferring the money to yourself or someone else, a bank account is not required to conduct the transaction. Transfers can be made with a credit card, a debit card or directly through your bank. There are many international locations where recipients may go to collect the money.
To start the process, simply sign up and create an account on the Xoom.com website. When you start the transfer process you will enter the recipient’s full name, the amount of money to be transferred, the country where the money is being sent and the method of pickup.
Next, you must enter in your payment account information, review the transaction and lastly confirm it. Should you need to cancel the money transfer, you can do so up until the date such transaction has been scheduled for. Xoom.com also has a money back guarantee, assuring you that the recipient will receive the money.
Through your online account with Xoom.com, you can set up future money transfers and even set up recurring transfers. There are also optional settings you can use in order to track the transfer through email notifications.
Fees for the service very upon the method of payment used, the amount of money transferred and the country to which the funds are being sent. Using a bank account is the least expensive method of payment; the fee is typically around $5.00. When you use a credit card, the fees range from $10.00 and can exceed $100.00 if you are transferring a large sum of money.
Online complaints regarding Xoom.com’s international money transfer service unfortunately displayed negative feedback from customers. With some customers stating that the money was never transferred, however, this does not necessarily mean that the site is not safe to use. Other complaints involved customers having a hard time getting a hold of customer service agents.
Some of Xoom.com’s competitors include MoneyGram, Western Union, PayPal and USPS; however they don’t send money to as many countries as Xoom.com does. These competitors, on the other hand, have a long standing reputation among the public and their services cost less too.
Before setting up a transfer of funds internationally, consider the time frame in which the money must be transferred. Xoom.com has not always reliably completed transactions in a timely manner, so be cautious if you need the money transferred immediately. There are a number of websites where you can compare different company’s services, so do your research. You could save yourself a lot of time and money.
1 ‘Xoom.com’ Review
This is the identity thief's choice service for sending money back to their home country using stolen credit cards. The company does seem to have a decent fraud department that tracks every detail of each transaction, including IP & recipient, and they will cooperate with your local law enforcement authorities.