Xoom is a fast, secure and reliable way of making money transfers from the convenience of a consumer’s computer. It is an online international money transfer service which offers an inexpensive way of sending money from a client to friends and family through Xoom’s website. Xoom was founded in 2001 and is backed by the venture firms Sequoia Capital, Fidelity Ventures, and New Enterprise Associates.
Why Use Xoom?
Clients have the choice of when to send their money. Because Xoom is an online money transfer company, money can be sent any time of day, and clients can make a transaction in the comfort of their own home. Through Xoom, sent money can be received within minutes. Xoom is in partnership with select global money transfer companies and financial institutions to provide its customers a convenient, secure, and cost-effective means of sending money to loved ones abroad.
How to send money using Xoom?
Only clients with US based bank accounts, credit, or debit cards can send money through Xoom. In order to send money, customers are required to register an account with Xoom. After successful registration, the client must first choose which country to send to, then choose the amount to send (the maximum amount which can be sent using Xoom is currently at $2,999.00 USD). Then, chose the delivery options: Cash Pick-up, payout locations includes affiliated banks, money transfer institutions, telecom centers, and other businesses; Bank Deposit, from a few minutes to just a few hours, money through Xoom can be sent directly to any bank account connected with Xoom; Door-to-door Delivery, rush delivery of the money sent to the address of the recipient in just 6 hours to 1-2 days depending on the recipients location.
What are Xoom’s Fees?
Fees vary depending on the recipient’s location. If the client pays with his or her US bank account, the client will benefit from Xoom’s lowest rates, which take up to four business days for the transaction to be completed. If payment is done through a client’s Credit or Debit Card, the fees are slightly higher but the transaction processing is faster. Specific rates for the recipient’s country can be viewed at Xoom’s website.
Is making an online transaction using Xoom secure?
All transactions with Xoom are secure and reliable. At Xoom, online data security and privacy are taken seriously. Steps are taken to ensure that transactions are safe and that Xoom can be trusted. A data security encryption is used by Xoom, so all the information sent between the client and Xoom remains private and secure. The servers used by Xoom are protected both electronically and physically. Xoom also does regular audits of its security policies, ensuring continuing protection of the client’s personal data. Financial and criminal background checks are done to Xoom employees. Xoom works with trusted and leading financial institutions globally helping clients send and receive money transfers directly to a bank account, for cash pick-ups, and get money delivered. Xoom is also accredited by third-party certifications.
Can Xoom give any guarantees?
Xoom has a money-back guarantee that if the money a client sent was not received by the recipient, the full amount will be refunded by Xoom.