Xoom Money Transfer

Xoom offers money transfer services, primarily from one person to another, in many countries worldwide. Money is sent securely through a desktop and mobile site as well as a mobile app. Money sent by Xoom may be received in cash at banks and various other businesses depending on the recipient's location, as well as by deposit to bank accounts. Users pay for the service using funds paid by direct debit to their U.S. bank account, a credit card, or a debit card.  The Xoom fee varies based on the method of payment. Payment by direct debit to a bank account is the least expensive, while the fee payments by a debit card or credit card are much higher and are based in part on the amount being sent. Xoom acknowledges that it also makes money on the currency exchange, but the exchange rates are favorable to many other alternatives. The service employs a variety of methods to assure the integrity of users' accounts as well as to prevent fraud and money laundering. These methods include identity verification and limits on the amounts that can be transferred on per day, per month, and per 180-day period. Generally speaking these limits make it difficult or impossible to use Xoom for substantial payments. In addition banks or businesses may impose their own limits on the amounts someone may receive in a given period of time

Xoom is an online money transfer Services, now part of the PayPal family. Xoom Corporation, also Xoom, a PayPal Service is a digital money transfer or remittance provider that allows consumers to send money, pay bills and reload mobile phones from the United States to 52 countries, including China, India, Bangladesh, Guyana, Pakistan, Mexico and the Philippines. The company was founded in 2001, is based in San Francisco, CA, and has an office in Guatemala City, Guatemala. Xoom was an independent publicly traded company and was initially backed by venture firms including Sequoia Capital, New Enterprise Associates, SVB Capital, and Fidelity Ventures. On July 1, 2015, PayPal announced that it intended to spend $25 a share in cash, or about $1.09 billion, to acquire Xoom Corporation. The deal closed in November 2015.

Countries Served

Argentina

Australia

Austria

Bangladesh

Belgium

Bolivia

Brazil

Bulgaria

Canada

Chile

China

Colombia

Costa Rica

Croatia

Cyprus

Czech Republic

Denmark

Dominican Republic

Ecuador

El Salvador

Estonia

Finland

France

Germany

Greece

Guatemala

Guyana

Haiti

Honduras

Hong Kong

Hungary

India

Ireland

Italy

Jamaica

Japan

Latvia

Lithuania

Luxembourg

Malta

Mexico

Monaco

Nepal

Netherlands

New Zealand

Nicaragua

Nigeria

Norway

Pakistan

Peru

Philippines

Poland

Portugal

Romania

San Marino

Singapore

Slovakia

Slovenia

South Africa

Spain

Sri Lanka

Sweden

Switzerland

United Kingdom

Uruguay

Vietnam

Source: Wikipedia