What is Xoom Money Transfer?
Xoom is a PayPal organization, offering international installments which can be made directly into a beneficiary’s bank account, for cash pickup or home delivery in 70 countries around the world.¹ You can send money through Xoom’s site or application and track your transactions online too.
In case you’re thinking that Xoom may be the right provider for your international installments, you’ll need to discover a smidgen more about how the service functions, what it expenses, and how serious it is against different providers. That is the place where we come in. Here’s all you need to think about Xoom.
How does it function?
When using Xoom, you’ll have the option to:
- send money to a beneficiary’s bank account, check card, or versatile wallet
- send cash for pick up or home delivery
- pay international bills
- reload a prepaid cell phone
As an individual from the PayPal family, Xoom brings in your money transfers much more securely, allowing you to help your loved ones quickly, safely, and without any problem.
Not any more waiting in lines and filling out desk work!
Xoom Founders and Team
Founders: Alan Braverman, Kevin Hartz
On September 28, 2007, Xoom closed a first E-arrangement round of financing for $20 million. Peter Thiel was an early investor in Xoom Corporation.
On March 25, 2010, Xoom closed an F-arrangement round of financing for $33 million. Xoom opened up to the world on February 15, 2013.
In November 2015, PayPal procured Xoom Corporation for $25 an offer, to a total of about $1.09 billion.
How to Create an Account in Xoom?
In request to make a Xoom account, you need to have a PayPal account. By logging in or signing up with PayPal, you acknowledge the Xoom User Agreement. They’ll make and link your Xoom record to PayPal, in the event that they haven’t as of now.
- Visit the Xoom site and click on the ‘Sign up’ choice
- You will be provided with two decisions of ‘Login with PayPal’ and ‘Sign Up with PayPal’
- Click on the ‘Sign Up with PayPal’ alternative
- You will be redirected to a page with “Sign up for PayPal to continue with Xoom” dialog on it and you will be needed to fill in your country and telephone number
- An OTP will be shipped off you to affirm your number
- Your record has been made and linked and thus you can begin sending money.
How to Login into Xoom?
You can just Log in to Xoom by providing your email address and secret key
Or on the other hand, you can Log in with Paypal.
How to Transfer/Send Money from Xoom?
To make an installment you’ll need to:
- Connect an installment source to your Xoom account — a linked bank record, credit or check card
- Log into your record and click the make an installment alternative. You then, at that point need to give the beneficiary’s details including bank account on the off chance that you’d prefer to set aside a direct installment into the beneficiary’s record
- Check you consent to the fees and exchange rate accessible, using the fees and exchange rate calculator, and make the installment
- You would then be able to track the installment through the application or site, to see when it has been gotten
Here’s how you can send again to a similar beneficiary in only two taps and a slide:
- Tap ‘Recipients’ for a rundown of your new recipients
- Tap the kind of transaction you need to send again underneath your beneficiary’s name
- Change the amount or installment choices, if vital
- Slide to Send
How to Receive Money From Xoom?
Ways to get money:
- Direct deposit into the beneficiary’s bank account
- Have the beneficiary gather the installment in nearby money from a specialist close to them
- Home delivery service – accessible in certain countries
Xoom Fees For Money Transfer
At the point when you begin to show the transfer you need to make on the Xoom exchange rate and fees calculator, you’ll initially choose the country you’re sending money to, and afterward input the amount in dollars you need to send. This will pull up a page where you can show the installment, to perceive what the transfer will cost you using diverse installment techniques and depending on how your beneficiary might want to get their money.
The fees you pay rely upon both where you’re sending to, how you reserve the transfer, and how the money is gotten, so the charging framework includes a few factors.
All in all, fixed fees are not pertinent to bigger bank transfers (ordinarily above US$1,000) and just influence more modest bank transfers. For instance, a US$750 transfer from the US to a bank account in India would incur a US$4.99 fixed expense.
Notwithstanding the fixed expense, Xoom likewise charges a variable commission (for the most part somewhere in the range of 2.9% and 3.3% of the transaction an incentive) for charge and Mastercard installments.
Xoom Money Transfer Limit
The most extreme amount you’re permitted to send with Xoom is $2,999 each day in the US. Without providing records, you additionally have a limit of $6,000 each month and $9,999 over a 6-month time span.
You can increase these limits by providing extra archives. US residents need to provide the following:
- ID (identification, driver’s permit, and so on);
- Green Card;
- Proof of Income (payslip);
- Bank Statement.
While increasing your limits, Xoom customer service will likewise request that you answer a couple of safety inquiries concerning your transfer, like your relationship with the beneficiary, why you’re transferring money, in case you’re sending money in the interest of another person, and your present occupation.
At Xoom, you can send money at up to three distinct levels. At each level, there is the greatest amount of money that you can send within a certain timeframe. Sending limits to depend on:
- Where you reside
- How the money is gotten
- Partner limits, which shift by country (Xoom partners include the banks, cash get areas, and different services that empower your beneficiary to get the money you send)
When using money other than the one recorded for your country or district in the tables underneath, the limit will be an identical amount dependent on Xoom’s exchange rate at that point.
Which Countries Have Xoom?
Xoom’s services will be accessible in a total of 53 countries. The 13 new get countries will include Cyprus, Estonia, Finland, Ghana, Haiti, Kenya, Nepal, Nigeria, Lithuania, Luxembourg, Malta, Slovakia, and Slovenia.
Xoom clients will actually want to send money from the U.S. to M-Pesa™ accounts in Kenya, notwithstanding services like money get and portable reloads in Haiti and Nepal, and bank deposits in Cyprus, Estonia, Finland, Ghana, Nepal, Nigeria, Lithuania, Luxembourg, Malta, Slovakia, and Slovenia. We are working with a portion of the world’s leading financial services and versatile wallets including Barclays in Europe, C.A.M. also, UniTransfer in Haiti, Bank of Everest in Nepal, and M-Pesa in Kenya
Xoom Exchange Rates
Xoom’s exchange rates drift somewhere in the range of 0.4% and 1.5% overall for most monetary forms, which makes them sensibly estimated contrasted with numerous different players available and comparable to Western Union. By and large, more costly than numerous different services because of the way that it charges the above-fixed fees and commissions likewise.
Remember that Xoom exchange rates decline with respect to the size of the transfer. For instance, if you somehow happened to send a little transfer of US$500 to India, your exchange rate margin would be around 1.1%. In the meantime, if you somehow happened to send a bigger transfer of US$10,000, your exchange rate margin would be just around 0.4% instead.
Fees differ according to the country combination, how you pay for your transfer, and the money delivery choice you pick. For instance, transaction fees are for the most part anyplace among nothing and the US $5. Exchange rates are over the mid-market exchange rate.
How to Track Xoom installments?
The Xoom application can automatically message you notices, as long as you empower pop-up messages and tap the ‘Get Text Updates’ button subsequent to confirming a transaction.
You can likewise check the situation with every one of your transactions at any time by tapping ‘Action’ and selecting a transaction from the rundown.
Xoom Customer Care Details
You can reach out to Xoom’s customer contact team by telephone, in one or the other English or Spanish, 24 hours every day. There’s additionally an alternative to email an inquiry in the event that you need to. For normal inquiries, there’s an enormous FAQ area accessible on the site, which may give you everything you need.
Contact number: (877) 815-1531
For a total rundown of Xoom customer service telephone numbers all throughout the planet, click here: https://help.xoom.com/s/contactsupport?language=en_US
Xoom App Details
The Xoom application allows you to send money, reload telephones, and take care of bills quicker from your iOS or Android cell phone. You can likewise check on the situation with your transactions any place you go using your telephone. Empower pop-up messages on the off chance that you need to get transaction announcements by text.
For customers looking to send money to loved ones across the globe, Xoom can be an affordable option in contrast to other international money transfer services. The organization likewise guarantees customer security and offers a money-back ensure.