Xoom money transfer

U

Uzin

Guest
I was under the impression that Xoom makes money by using it's favourable exchange rate and fees, but I noticed now if I choose 1000GBP transferred directly to a Dominican DOP bank account in DOP, it gives you the exact today's mid-market exchange rate (from what it shows anyway) and no fees what-so-ever.... !? I wonder how then they are going to make money.... ! (note that anything less than £1k and they charge a fee and use lower exchange rate.). I am not complaining by the way, just wondering if it is correct....

I get this when I log on with my UK PayPal account (I have no Xoom account), so my next question was could I use my CC payment method that it is available on my PayPal to pay for this or would it require a back transfer method on PayPal - which I currently don't have... !?
 
U

Uzin

Guest
Just double checked and called Xoom, the exchange rate is actually 0.25% lower for £1k transfer but spot on mid-market for £2k or more transfers.

Also they confirmed there is no fees charged paying by any method for £1k+ transfer and a bank deposit in DOP. Even for a cash pickup or delivery it's just a 3 or 4 pounds.

But she correctly advised that using CC (even on PayPal) will cause a cash advance fee from CC company because this is not a purchase but a cash withdrawal. So I need to add Debit Card or Bank Transfer method to my PayPal account. Fair enough...

All in all this is a really good way to transfer money here, just need to go over 1k (best 2k).
 

a_tl_player

New member
Oct 14, 2019
3
0
1
I tried Xoom for the first time to send myself USD cash to a Caribe Express for a fee of $19. They cancelled the transaction. I contacted them, and they asked for a pdf copy of bank statement and passport. Then they asked for another copy of my passport, stating that the first was a little blurry. Then they told me to do the transaction again, since the first one was cancelled but now my account restriction was lifted. They then cancelled my second transaction as well. I contacted them again, and they told me that they would not honor any transactions from me and to look elsewhere. I asked for a reason why, and they told me that will not give me a reason why.
 

Derfish

Gold
Jan 7, 2016
4,441
2
0
Xoom ! I used to xoom money around with no prubbles, then they became part of PayPal. I tried to send $150 and they said it would be 4 to 5 business days, At the end of that time i got another email from them telling me it would be another 4 business days. I cancelled the transaction and went to PayPal and had the money transferred in 20 minutes. Don't know what happened there at all, but don't need them any more. PayPal is free to family and friends, but there is a slight charge to pay my rent! But is instant!
 

NanSanPedro

Nickel with tin plating
Apr 12, 2019
6,552
5,646
113
Boca Chica
yeshaiticanprogram.com
I had xoom too. It worked for a while but then they cancelled me for no apparent reason. WU is expensive but it works. For sending $ to Haiti, I use Moneygram.

As an aside, anyone ever hear of and/or use worldremit?
 

Beachboy

Member
Apr 29, 2018
34
7
8
Wow, that sounds strange. I have used Xoom for 3 years now. As you say, I too transfer 1000 USD for $19 charge delivered to Caribe Express same day or in just a few hours for cash pick up (depending on time of day transaction submitted). My usage is maybe 10 - 15 times a year from my USA chequing account. The part that hurts is transferring from my Canadian account paying exchange rates as I'm retired Canadian. Never required to send banking or passport after initial set up account.
 

cmantis

Member
Jul 4, 2019
16
1
8
Both moneygram and western union cancelled my accounts no reason and I only ever send to two people. Now I have to use Caribe Express which is inconvenient to get to, more expensive and receiver has to go show ID then return next day to collect major PIA.
 

johne

Silver
Jun 28, 2003
7,091
2,965
113
Both moneygram and western union cancelled my accounts no reason and I only ever send to two people. Now I have to use Caribe Express which is inconvenient to get to, more expensive and receiver has to go show ID then return next day to collect major PIA.

The Caribe Express I use (which is geographically inconvenient for me as well) has too windows. One on the left "WU" and on the right side Caribe. On a couple of occasions I noticed a few people trying to do a transfer with WU. They seem to get turned down all the time or have major problems. I told the teller at Caribe that I don't use WU because I never know when they will take my transfer when they don't. WU cost me hours of problems on the phone and always on the day I needed money to be moved fast.
The teller said "WU is loco". Too many questions. Too much identification. Hit and miss. Nobody uses any longer"
On the other hand I have never had a problem with Caribe. Once they have you telephone number in the system it takes 3-4 minutes to do a transaction. Same for pick up of funds. Walk in and out paid in $$.
 

rogerjac

Bronze
Feb 9, 2012
1,393
460
83
I use western union to send money to myself all the time. I send it from my BMO account online. It is connected directly from BMO. Within 30 minutes I can collect my cash here