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Brett Dvoretz

April 7, 2015


How to Send Money Overseas with Xoom

Today we are going to give you a detailed guide on how to send money overseas using Xoom.

Xoom is an online money transfer firm based in San Francisco which provides remittance to more than 32 countries around the globe. You can see a complete list of the countries they service here. In 2013, Xoom’s 1 million+ active customers sent more than $5.5 billion to family and friends across the world, so they must be doing something right.

Xoom offers some of the cheapest and most flexible transfer services making them the ideal choice for a number of consumer and business transfer needs. Before we go into the guide, let’s start with some information about the services Xoom offers so you can decide if they are the right choice for your current money transfer needs.


Xoom Services

Xoom charges no fees for transfers over $1,000 and generally between $3 and $5 for smaller amounts. Payment can be made using your credit card, debit card, or directly from your bank account. Using the direct bank payment method, transfers take anywhere from 1 – 4 days and have lower fees while credit card and debit card payments tend to have slightly higher fees, but the money is received within one day.

The recipients don’t need to have an account with Xoom to pick up the money and you can choose to have them receive the money through direct bank deposit, cash pick up at a variety of locations, or even door-to-door delivery.

Immediately after signing up with Xoom, you can send up to $2,999 USD every 24 hour period with a cap of $6,000 each month. Don’t worry if you need to transfer more than that as you can raise your sending cap by supplying them with addition information for security purposes. Then you’ll be able to send up $25,000 in a 30 day period.

Xoom also has a bill pay services that allows you to pay utility bills in Mexico, the Dominican Republic, El Salvador, Guatemala, and Nicaragua for a $2.99 fee. All you have to do is select the type of bill, the recipient company, and enter the account number and your bill will be paid instantly.


Sending Money with Xoom

The process for sending money with Xoom is relatively simple and straight forward. The first step is to sign up for a free account using their online form which you can see below. You’ll need to fill in information like your name, e-mail address and create a password.

guide to sending money with xoom

The next step is to choose the country your are sending money to, enter the dollar amount, and lock in an exchange rate.

guide to sending money with xoom - 2

After that, you will choose how you want to pay and add the recipient’s information. If you are specifying a bank deposit, you need their bank name, account number, home address, the currency type in their bank account, their full name as it appears in their account, and a valid phone number. If you are specifying a cash pick up, you will need all the same information minus the bank account stuff.

Next you enter your payment information and the final step is to confirm your transaction details. All in all it’s a pretty simple and straightforward process that should take about 10 minutes. After your initial signup and transfer, all of your account information is stored so you can re-use the same details if you are making regular money transfers to the same person which will save you time in the future.

As soon as Xoom receives your funds, they initiate the transfer immediately. This is why credit and debit card payments go through quicker than bank payments. When choosing the bank payment method, Xoom has to wait anywhere from 1 to 4 days for your bank to process the transfer.


Picking Up Money Sent Through Xoom

As mentioned previously, you can specify from a number of different ways for you recipient to get the money. Here is what they will need on their end to pick up the money.

Bank Deposit

  • Proper ID
  • Their bank account information

Cash Pick up

  • Xoom tracking number (provided to you by Xoom when you complete the transaction)
  • One of the following ID combinations
    • Two forms of primary ID
    • Three forms of secondary ID
    • Two forms of secondary ID and the secret word (you can specify the secret word during when filling out the transaction details)
    • One form of primary ID and the secret word

Home Delivery

  • Xoom tracking number
  • One primary ID


You’re Done

So that’s the entire process in a nut shell. It may sound complicated on paper, but it’s quite easy when using their online forms. You are prompted for all of the information you need. During the transaction, you will also be able to see your exact exchange rate and how much your recipient will receive in their home currency.

If you are still unsure if Xoom is the best choice for your currency transfer needs, you can use the Send Money Cheaper Comparison Tool to find the right option for your particular transfer.

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