Xoom Money Service  » Finance  »
4.5
1 votes
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  • I know nothing about money transfers and Western Union is the only familiar name I know when it comes to sending money
  • I found out that XOOM is an established company, a little new because it is just 5 years in the business
  • They also guarantee that all the financial information of their clients is secure and encrypted to promote confidentiality and avoid fraud
  • After finding out some information about the company, I decided to register and give a try
  • Then I have to put in a box a verification code, read on the agreement, click on I agree and voila, my account is active

    • by lipsticknladdles
      TRUSTWORTHY

      all reviews
      I am the eldest daughter in the brood of four. My dad is a retired employee and my mom is a plain housewife. When I was still single and works as an Occupational Therapist in the Philippines, a huge portion of my earnings goes to the support of my family. When I got married and moved to Unites States, I intended to continue doing this but my worry is HOW? Before I left Philippines I have a Bank of the Philippine Islands account and I also urged my parents to open one. They did. On my first few months in the US, I was transferring money from my account to theirs. But how long will it last.

      Soon all the money in my BPI account will be gone and I will be needing to deposit more. Again, my question is HOW?

      A friend of mine who’s been residing in the US for years introduced me to XOOM. I know nothing about money transfers and Western Union is the only familiar name I know when it comes to sending money. I tried inquiring at Western Union but it is more expensive than when I do that with XOOM. I search the internet and


      tried to find out if XOOM is a reliable service. Is it easy to use? Does it support my banks? I found out that XOOM is an established company, a little new because it is just 5 years in the business.

      They served 30 countries, luckily, Philippines is included. They also guarantee that all the financial information of their clients is secure and encrypted to promote confidentiality and avoid fraud. I also like the guarantee that it gives that if the money is not received, they will be willing to refund the payments in full. Among the countries it served are Australia, Canada, China, France, Germany, India, Italy, Mexico, Philippines, Spain, United Kingdom and Vietnam. There are many more. After finding out some information about the company, I decided to register and give a try.

      I said if their service will not pass my standards, I will settle for the more expensive Western Union. Registering with XOOM was easy. It required me to create a xoom account by filling in information such as my full name, country of current , complete address (including street , City, State and Postal Code), my phone number, date of birth, email address ( which ...


      • is also used as my Xoom user ID, I also set-up my own password). I was also asked for the recipient’s country of residence. Then I have to put in a box a verification code, read on the agreement, click on “I agree” and voila, my account is active. At the latter phase, I was asked to put in my bank account details here in U.

        S. because bank to bank transfers will cost me lesser fee. XOOM gives its clients the option to choose how the recipients will receive their money. You can have it delivered at the comfort of their own homes. You can also have it pickup at thousands of locations. In the Philippines, the pick up locations include: Equitable PCI, Banco de Oro, BDO Financial (BDO On-site) , SM Forex, Cebuana Lhuillier and other more that I am not familiar of.

        The last option is my choice. My recipient can get the fund I transferred thru direct deposit into their own bank account. Among the Philippine banks affiliated to Xoom are, Banco de Oro, Bank of the Philippine Islands, Citibank, Equitable PCI Bank,, HSBC Savings Bank, Insular Bank, Metrobank, UCPB Savings and more. The

        next step I did is to choose a payment method and confirm your money transfer. Payment methods can either be thru PayPal, major credit cards like Mastercard and Visa, or thru withdrawing directly from my U. S.

        bank account. After doing all that, all I did was to wait for the transaction to be completed. That happens within 24 to 48 hours all in all. I had been doing that for a year now and I am fully satisfied. I send money to my parents on a monthly basis. I also send money once to my friend who is getting married.

        There was one instance when I had a transaction conflict with XOOM. It happened when my fund transfer was delayed for almost a week. It was because I supplied the wrong account number and the Philippine bank rejected the transfer. It was easily resolved by a very efficient and fast-acting customer service.

        In conclusion, XOOM is a very easy and affordable way to send money to your friends and love ones. Avoid waiting in lines and do transactions while you’re in your pajamas.

        I have been recommending it to most of my friends and I would not mind recommending it to others as well.




    0
    Bartolome M Cajas says :

    I would like to ask if the exchange rate of dollar to peso is applied at the present rate. So is it more convenient to send money to the Philippines from a US bank account to a Philippine bank account. thanks

    ReviewStream.com
    M says :

    Hi Bartolome,

    Yes, they will use the present exchange rate from the time you send the money. Just take note that banks has lower exchange rate.

    ReviewStream.com
    Galega says :

    Xoom is now owned by PayPal to settle international remittances quickly. However, when it comes to determining exchange rate, it is far much better than the superior and popular PayPal. It uses exchange rate in almost real time. It means you can be sure of getting the best deal in terms of exchange rate as you can decide to transfer money after taking a look at the prevailing exchange rate.

    The transaction fee is little bit higher, especially when it comes to sending money through your debit card.

    ReviewStream.com
    0
    doinks says :

    I`m going to China next month and I am thinking of using Xoom to send money back home. But I don`t have a bank account in China? How can I use Xoom? I signed up for an account already and the options for sending are through a debit credit card or Paypal. How can I use Xoom since I only have Philippine bank accounts?

    ReviewStream.com
    Galega says :

    Exactly, you need to use your debit card or PayPal. In the current situation, you should open a PayPal account and link your bank account. Now, transfer money through PayPal.

    Xoom is now part of PayPal and hence it is more secure and convenient to use this platform for international transfer of funds.

    ReviewStream.com
    0
    Rohan says :

    I want to transfer some money to Bank of china. Will u directly debit money from my account and credit in account no of Bank of China which I have mentioned?

    ReviewStream.com
    Galega says :

    You will have to add the beneficiary account number with proper verification. Only after that the money will be transferred. The transaction isn’t done in real time. It may take upto 2 business days.

    ReviewStream.com
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