What is Xoom?
Xoom is an international money transfer service owned and operated by PayPal. It allows customers to conveniently send money from the United States to over 130 countries around the globe including India, the Philippines, Mexico, China, and nations across Latin America, Europe, and Asia.
Some key features of Xoom include:
- Secure and reliable transfers using bank-grade encryption and partnerships with major banks and retailers internationally
- Various payout options such as cash pickup, home delivery, direct to bank account deposits
- Competitive exchange rates and low transfer fees
- 24/7 customer support via phone, email, and live chat
- Mobile apps for Android and iOS
- Options to track the transfer and receive status updates
People use Xoom to send money abroad for reasons such as supporting family and friends, paying bills, or funding investments in their home countries. Key benefits include convenient payout locations for recipients, customizable security questions for pickups, and multi-currency support.
Overall, Xoom aims to save customers time and money compared to traditional wire transfers and other money transmitters. Its acquisition by PayPal has allowed integration of funding sources while still linking into PayPal's worldwide network for deposits and withdrawals.