Xoom is an online money transfer service that let♑s you send funds within the U.S. and to countries around the world quickly, easily⭕, and affordably.

You can also use Xoom to pay the bills of family and friends who live abroad. What's more, Xoom provides the means to reload prepaid mobile phones located internationally.

All this can be done conveniently and at 🌄any tim﷽e using your smartphone, tablet, or computer.

Acquired by PayPal in 2015, this international money transfer service is headquartered in San Francisco. It currently has over 160 transfer destination countries including Italy, Germany, France, Australia, the Philippines, India, Canada, the United Kingdom, Mexico, Argentina, and Brazil.  

How Does Xoom Work?

Xoom partners with companies around the world to make safe, secure, and 𝓀affordable international money traꦯnsfers.

Depending on the country to which you send money, the funds can be delivered by hand, picked up, or deposited directly into a bank account. They can also be added to debit cards (in eligible markets).

You can fund and pay for your 澳洲幸运5开奖号码历史查询:money transfers using a bank account, a Pa♚yPal account, a debit card, or a credit card.

The transaction fee you pay will vary depending on the destination country, the currency exchange rate, the amount of money that you're transferring, and your funding source.

How Much Can Be Sent?

Three factors influence how much money you can send: where you live, the delivery method, and your payment partners' limits.

Generally, the minimum transfer amount is $10. In a 24-hour period, the maximum transfer amount is $2,999. In a 30-day period, it's $6,000. In a 180-day period, the maximum transfer amount that you can send is $9,999.

How Does a Transfer Work?

1. Sign up for a free account or log in with your PayPal account, if you have one.
2. In the My Account tab, select the country to which you're sending funds.
3. Enter the amount.
4. Select how the money should be paid out (cash pickup, direct deposit to a bank, delivery to a specific location).
5. Choose your funding/payment option: PayPal balance, bank account, debit card, or credit card.
6. Enter the information requested for your recipient.
7. Pay for your Xoom money transfer.

While most Xoom money transfers arrive and are available within minutes, some can take several days, often due to the different 澳洲幸运5开奖号码历史查询:financial intermediaries involved. You can get updates for your money transfer's status by email and text. If you prefer, you can also check on your money transfer at the Track Transactions page on Xoom's site.

How Much Does a Xoom Money Transfer Cost?

Xoom’s money transfer transaction fees depend on your country, the country to which you're transferring money, your funding source, the payout currency, and the transfer amount.

You’ll pay the lowest fees if you transfer money using your PayPal account balance or a U.S. bank account. However, a bank account-funded transaction can take several days because it's a more complex transaction involving different financial institutions.

If you pay wi💙th a cr🍌edit or debit card, the fees are higher (but transaction processing is faster).

Xoom offers an exchange rate and fee calculator to help customers determine the total price of the transfer as well a⭕s the amount their recipient will receive (based on currency exchange rate𝄹s).

Let’s say you want to send $500 to a friend in India. According to Xoom's calculator, it would cost you $4.09 to send the money from your PayPal or bank account for deposit into a bank account in India. Alternatively, if you wanted to pay with a credit or debit card, you wou✨ld pay $15.49.

In addition to that transaction fee, Xoom will charge a currency conversion fee. This will vary according to the current exchange rate related to the 🥃destination country and the markup t🧔hat Xoom applies.

The fees are lower for some countries. For example, if you wanted to send $500 to a family member in Chad, it would cost you a total of $2.99, whether you paid with a credit/debit card or directly from your account. If using a mobile wallet, the cost would be only $0.99.

Xoom vs. PayPal

What's the difference between the money transfer services each of these companies offers?

With PayPal, you can send funds to family and friends within the U.S. and get payments from business customers. PayPal doesn't offer an international money transfer option. However, it doesn't have to because its subsidiary Xoom can be used for that. There's no transaction fee when you send money abroad with Xoom using your PayPal account balance as the funding source.

Xoom has a solid standing, thanks to its reliability, service guarantee, and relationship with PayPal. Unlike PayPal, Xoom allows you to transfer funds within t♍he US as well as internationally.

In addition, someone who receives a money transfer via Xoom doesn't have to have a Xoom account. With PayPal, they do.

Xoom doesn't offer business money transfers while PayPal has facilitated them for years.

Advantages and Disadvantages

Advantages

Xoom's price for international money transfers is higher than some services and lower than others. It can be fee-free if you use a PayPal account balance to fund your transfer.

According to Xoom’s website, its transfer service is also extremely secure. Xoom says it uses a 128-bit data security encryption to protect all information sent between the customer’s web browser and its website.

The company is certified and accredited by third-party privacy organizations and regulated by both state and federal U.S. gov🐲ernment agencies.

Xoom also offers a money-back guarantee. If for any reason your money is not received by your recipient, it will refund your transaction in full.

Disadvantages

Some critics complain that Xoom often plays iꩲt too safe, resulting in extra hassle for the customer and lengthy processing times.

The service has received numerous complaints on the Consumer Affairs website. For example, some customers have reported that their money was held for too long, or that Xoom’s agents asked too many unrelated questions. Some posts mentioned that Xoom requested too much additional proof or information, such as 澳洲幸运5开奖号码历史查询:bank statements.

Of course, taking these a🎶dditional measures (and refusing to accept cash as a fu🌠nding source) help prevent money-laundering schemes and terrorism financing.

Xoom Pros and Cons

The Bottom Line

For customers looking to send money to friends and family across the globe, Xoom can bඣe an affordable alternative to other international money transfer services. The company also assures customer safety and offers a mone🔯y-back guarantee.