Xoom Money Transfer: A Complete Review

If you are looking for a reliable and affordable way to send money to your loved ones abroad, you might want to consider Xoom money transfer. 

Xoom allows you to send money online or through your mobile device to more than 130 countries around the world. 

We are here to review the features, benefits, and drawbacks of Xoom money transfer, and Xoom money transfer fees.

Xoom Money Transfer Review

Xoom money transfer is a service that was founded in 2001 and later acquired by PayPal in 2015. It is designed to make international money transfers fast, easy, and secure. 

You can use Xoom to send money from your bank account, debit card, or credit card to a recipient's bank account, cash pickup location, mobile wallet, or home delivery. You can also use Xoom to pay bills in some countries.

Some of the advantages of using Xoom money transfer are:

Speed: Xoom claims that most transfers are completed within minutes, depending on the destination country and the payment method. You can also track the status of your transfer online or through the Xoom app.

Convenience: You can send money anytime and anywhere using your computer or smartphone. You can also save your recipient's information for future transfers and set up recurring payments.

Security: Xoom uses encryption and fraud prevention technology to protect your personal and financial information. You can also get a full refund if your transfer is not delivered or if you are not satisfied with the service.

Customer service: Xoom offers 24/7 customer support via phone, email, or chat. You can also access FAQs and help articles on their website.

Some of the disadvantages of using Xoom money transfer are:

Fees: Xoom charges a fee for each transfer, which varies depending on the amount, destination country, and payment method. The fee can be higher than some other services, especially if you use a credit card or send a large amount.

Exchange rates: Xoom applies a markup on the exchange rate, which means that you might get a lower rate than the market rate. The exchange rate can also fluctuate depending on the time and date of your transfer.

Limits: Xoom has limits on how much you can send per transaction, per day, per month, and per year. The limits depend on your verification level, which is determined by the information you provide and the documents you upload. 

The limits can be lower than some other services, especially for new customers.

Availability: Xoom is not available in every country and does not support every currency. You might not be able to use Xoom if your recipient lives in a country that is not supported or if you want to send a currency that is not offered.

Xoom Money Transfer: A Complete Review

Xoom Money Transfer Fees

Xoom charges different fees depending on the amount you send, the destination country, and the payment method you use. 

The fees are displayed upfront before you confirm your transfer, so you can compare them with other services and choose the best option for you.

Typically, the fees for sending money from the US to some popular destinations are:

+ For Mexico, the fees are as follows:

• Bank transfers: $0-$4.99 for transfers up to $2,999

• Cash pickups: $5.99-$9.99 for transfers up to $2,999

• Home deliveries: $10.99-$14.99 for transfers up to $2,999

• Credit card transfers: $30-$50 for transfers up to $2,999

+ For China, the fees are as follows:

• Bank transfers: $1.99 for transfers up to $999; $4.99 for transfers above $999 and up to $2,999

• Credit card transfers: $1.99 for transfers up to $999; $20-$50 for transfers above $999 and up to $2,999

+ For India, the fees are as follows:

• Bank transfers: $0 for transfers up to $2,999

• Credit card transfers: $30.49-$50.49 for transfers up to $2,999

+ For the Philippines, the fees are as follows:

• Bank transfers: $0 for transfers up to $2,999

• Cash pickups: $0-$4.99 for transfers up to $2,999

• Mobile wallets: $0-$4.99 for transfers up to $2,999

• Door to door deliveries: $0-$4.99 for transfers up to $2,999

• Credit card transfers: $0-$5.99 for transfers up to $2,999

You can visit Xoom's website to check the exact fee for your transaction because it can change due to foreign exchange or any update.

In addition to the fees charged by Xoom, you might also incur fees from your bank or card issuer if you use a debit card or credit card to fund your transfer. These fees might include foreign transaction fees or cash advance fees.

You might also incur fees from the recipient's bank or service provider if you send money to a bank account or mobile wallet. These fees might include incoming wire fees or account maintenance fees.

Transfer money with DNBC Financial Group

Whether you need to send money to a family member, pay bills, or conduct business transactions, DNBC offers various options to suit your needs.

DNBC Financial Group is a trusted financial institution with years of experience in the industry. They are known for their excellent customer service and fast and secure money transfer options. With DNBC, you can be sure that your money will be transferred quickly and securely.

In addition, DNBC Financial Group offers competitive exchange rates for international transfers, which can save you money on fees and currency conversions. Their fees for money transfers are also reasonable, making them an affordable option for all your money transfer needs.