Tag Archives: xoom

Two Options for Online Money Transfers

You no longer have to go to a money transfer office to schedule money transfers.  You can send money to friends and family from the comfort of your home with online money transfer services.

Many of the traditional money transfer services now offer the option of making a transfer over the phone or online at their website.  Other companies have been started in recent years that exist solely as online services.  Here are two of them to consider.

Western Union

Western union safe cash transfer
Western Union

Western Union has been doing regular electronic money transfers for years and has now expanded into online service via the internet.  You have several options when using their online service for payment.  If you need the money to arrive quickly, you can pay with a debit or credit card.  If it is not an emergency, you can use your bank account to transfer money.

You create an online profile with Western Union that you can go back to anytime you need to send money.  Then you choose your options based on what you need.  The receiver can get their money several ways:

  • In their bank account
  • At a Western Union agent near their location
  • Delivered to their home or office
  • In their mobile wallet

If you don’t feel comfortable sharing your bank information with Western Union, they also provide WU Pay.  With this option, you can set up a payment in your Western Union account and they will send a bill.  Then you go to your bank account’s online bill pay and pay the bill like you would any other.

With all of these options, you receive email confirmation to know that the money has been sent.

Xoom

Xoom is a newer money transfer company founded in 2001 and located in San Francisco.  They handle all transfers online and send money to the following countries:

  • The Philippines
  • Europe
  • Latin America
  • India
  • Canada
  • Australia
  • South Africa

You must sign up on their website before you can send money.  Once you create a profile, you will enter the recipient’s information, including their name and country, how much you want to send, and how you want them to receive the money.  You have three options on this: bank deposit, pick up in person, or delivery to their home.  The latter two options may not be available in all countries.

You will also need to know the recipient’s address and bank information (if depositing into their account) and contact phone number.  You will then enter your payment information where you have the option of paying from your bank account or with a credit card.  You will have a final chance to review the transaction before submitting.

It’s much easier to send money today with online money transfer services.  You have multiple options, which allow you to select the most affordable choice with the best features.  These are two of the best known companies, one that has expanded their services and one that only provides online services.

Send $2,999 to Guatemala for only $4.99 with Xoom

I received a news update today from Xoom.com, a money transfer service that I have used in the past and have been happy with. Xoom is now offering a special rate of only $4.99 to send up to $2,999 to Guatemala, provided that you fund the transfer from your bank account. The entire transaction can be done online.

For cash pickups, Xoom has 1,548 cash pickup locations in Guatemala, including GyT Continental, BanRural, Banco Industrial, Citi (formerly Banco Cuscatlan and Banco Uno), BAC-Credomatic and Banco de Antigua; or Elektra, Gallo Mas Gallo, Hiper Paiz, Maxi Bodega and Paiz stores.

If you want to transfer the money directly to your recipient’s bank account, Xoom offers bank deposits to the following major banks: Banrural, Banco Industrial, and Citi (formerly Banco Cuscatlan and Banco Uno).

If I needed to send money to Guatemala I’d definitely use Xoom.

Xoom.com announces fast, low-cost money transfer service to UK

Xoom corporation logo

Xoom Corporation has issued a press release detailing a new high-speed money wiring service that will allow customers to send money to bank accounts in the UK.

According to the release, funds will be available in the recipient’s account in less than an hour. Transfer fees are only $4.99 US when sending up to $2,999 and funded from US banks, which is really quite extraordinary for a bank transfer.

“With the launch of our new service to the UK, our customers now have an even faster way to wire money to the UK—any time from the convenience of their desktops,” said Julian King, Senior Vice President of Marketing and Business Development for Xoom.com. “We look forward to providing this service to our loyal customer base who have come to trust our brand as the most cost-effective and convenient money transfer service in the industry.”

There are 17 UK banks participating in the service, which together account for 95% of UK banking. Among them are Santander (formerly Abbey and Alliance & Leicester), Bank of Scotland, Barclays, Clydesdale, Co-Operative Bank, Coutts, First Direct, Halifax, HSBC, Lloyds TSB, Natwest Bank, Northern Bank, Northern Rock, Royal Bank of Scotland, Smile, Ulster Bank and Yorkshire Bank.

The sender can also schedule a time for a future transfer, and can set up recurring transfers. This will be helpful to UK expats who need to make regular transfers into their UK accounts, for example to pay bills.

If you’ve used Xoom, let us know how well it worked for you, and how satisfied you were with it. Personally I have used their service to send money to Latin America, and have been quite happy with it.

Xoom Money Transfer Service

I want to tell you about another interesting money sending service that I recently discovered. It’s called Xoom.com, as in, money zooming all over the world.

They are an online-to-online money transfer service, and I’ve used their service several times to send money to relatives overseas. They are based in San Francisco, California. Their fees are very low. To send $500 within the United States, for example, costs only $13.99, but they can send money all over the world. The recipient does not need a bank account or internet service.

Is Xoom better than Moneygram? Maybe. I’m still deciding, but you should definitely try out Xoom and decide for yourself.