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Sending money abroad has become increasingly convenient with digital platforms like Xoom. Whether you need to support your family, pay for services, or handle international business transactions, Xoom offers a reliable way to transfer funds globally. However, understanding the process and following the best practices can make your experience more efficient.
This blog will guide you through sending money with Xoom, ensuring you get the most out of your transfers with quick and secure methods and introduce you to Vance, a better alternative that may best suit your needs.
Step-by-Step Guide to Sending Money with Xoom
1. Setting Up Your Account
Download the App or Visit the Website: First, download the Xoom app from the App Store or Google Play or visit the Xoom website.
Create Your Account: Enter your details, create a secure password, and verify your email. Since Xoom is a service provided by PayPal, you can link your existing PayPal account for a smoother experience.
Select Your Country: Choose the country you’re sending money from (e.g., Germany) and the destination country.
2. Choosing Your Transfer Type
Ttransfers based on your needs: You can send money directly to the recipient's bank account. This is ideal for convenience and security.
Cash Pickup: Your recipient can pick up cash at a nearby location, usually available within minutes.
Send money quickly to India with cash pickup: Larger amounts over 5 lakh are deposited within 2 hours at most major Indian banks. Cash pickup is available 24/7, 7 days a week.
Mobile Reloads: Transfer funds directly to a mobile wallet or airtime.
3. Entering Recipient and Payment Details
Enter Recipient Details: Per their bank records, provide the recipient's full name. You will also need the recipient's bank account information, including the account number and name, for bank transfers.
Select Delivery Method: Choose how you want the recipient to receive the funds—bank deposit, cash pickup, or mobile wallet.
Select Payment Method: Choose how you want to pay for the transfer. Xoom allows payment through bank accounts, debit cards, and credit cards.
4. Reviewing Exchange Rates and Fees
Exchange Rates: Xoom displays the current exchange rate for your transfer. It’s crucial to review this rate, as it affects how much your recipient will receive.
Fees: Xoom’s fees vary depending on the transfer amount, payment method, and destination country. Please review the applicable fees before confirming the transfer.
5. Confirming and Tracking the Transfer
Double-Check Details: Confirm the recipient’s information, chosen delivery method, and estimated delivery time.
Finalise the Transfer: Once everything looks correct, confirm the transfer. Xoom will provide a tracking number that you can use to monitor the status of your transfer in real time via the app or website.
Tips for Quick and Secure Transfers with Xoom
1. Use Verified Payment Methods
Using a verified payment method speeds up the transfer and reduces the risk of errors. Xoom allows you to save payment details for future use, streamlining the process each time you send money.
2. Choose Faster Transfer Options
If speed is crucial, opt for cash pickups or mobile reloads, as these options typically offer faster delivery times. For larger amounts or non-urgent transfers, bank deposits might be more cost-effective.
3. Keep Your Documents Ready
For larger transfers, Xoom may require additional documentation to comply with regulations. Having these documents ready, such as a government-issued ID and proof of address, can ensure a smooth transaction.
4. Track Your Transfer
After initiating a transfer, you can track its status via the Xoom app or website. This feature informs you about the journey of the transfer until it reaches the recipient.
Vance offers a similarly robust tracking feature for users who prioritise staying updated, with the added benefit of real-time notifications and more detailed transaction histories.
Make Secure Transfers to India with Vance
Experience lightning-fast money transfers from the UK and UAE to India with Vance. Get real-time Google rates on all your money transfers with no hidden fees - no surprises, just the best deals on every transfer.
Stay ahead with our exclusive rate alerts, tracking the Pound to Rupee so you can send money at your desired rate. Join a savvy community of over 100,000 NRIs who’ve collectively saved more than ₹50 Cr in transfer fees.
In Conclusion
Sending money abroad with Xoom is straightforward and efficient. By setting up your account, selecting the appropriate payment and delivery methods, and tracking your transfers, you can ensure a smooth experience. For those seeking an alternative, Vance offers similar benefits, focusing on user experience and security, making it another excellent option for international money transfers.
This content is for general informational purposes only and should not be taken as financial, legal, or professional advice from Vance or its affiliates. While we strive for accuracy, the information may change over time. Vance makes no representations, warranties, or guarantees, whether express or implied, regarding the information's accuracy, completeness, or reliability. The comparison is based on publicly available data and is intended to assist users in making informed decisions. It is not a substitute for professional advice or consultation with financial experts. Please review your region's terms of use and product availability or visit the service provider's website for the latest pricing and service information.
FAQs
Q1. What are the steps to send money internationally with Xoom?
First, sign up on their app or website to send money with Xoom. Select the destination country and the amount to send, then choose the delivery method (bank deposit, cash pickup, or mobile reload). Enter the recipient’s details, select your payment method (bank account, debit/credit card), and confirm the transfer.
Q2. How can I save on fees when using Xoom for money transfers?
To save on fees with Xoom, choose to pay via a linked bank account rather than using a debit or credit card, as bank transfers often have lower fees. Additionally, monitor Xoom's exchange rate and send money during favourable rates to get the best value.
Q3. How do I choose the best payment method for my Xoom transfer?
Select a payment method based on speed and cost. Bank transfers generally have lower fees but may take longer to process, while debit/credit card payments are quicker but often come with higher fees. Consider your priorities—speed or cost—to make the best choice.
Q4. What should I do if my Xoom transfer is delayed?
If your Xoom transfer is delayed, first check the status using the app or website's tracking feature. If the delay persists, contact Xoom customer service. Delays can occur due to issues with the recipient's bank, local regulations, or transfer limits.
Q5. How do I track the status of my transfer on Xoom?
You can track the status of your Xoom transfer via their app or website by entering the tracking number provided after completing the transaction. Xoom offers real-time updates on the status of your transfer.
Q6. What are some tips for speeding up the transfer process with Xoom?
Opt for faster delivery methods like cash pickups or mobile reloads instead of bank deposits to speed up your transfer. Also, ensure that your payment method is verified, and always double-check the recipient's details to avoid delays caused by errors.
Aayush is a strategic growth marketer with over 6 years of experience working in the US and European markets for various financial services companies. He has a proven track record of success in helping businesses grow, increase revenue, and improve marketing strategies.
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