Written on: 14/09/2012
I wanted some other way to be able to send money abroad to our UK bank account. We still have some debt that we are paying off after moving to the US, so I'm having to send money at least once a month to the tune of $35 a transfer with our bank and our other US bank account charges $50! So, I started websearching and found Xoom.com. I was a bit dubious at first just because it was very cheap and simple-looking and so it took me awhile to garner up the courage to use it--after all, I send fairly large chunks of cash and didn't want to risk it being lost in cyberspace! Well, this week I decided to take the risk because we need every penny we can get and theoretically Xoom could save me $30! The website is easy and straightforward. It asks for your email address and requires you to confirm it. It asks your overseas recipients name, bank account number, sort code, etc. Asks you how much you want to send and then tells you EXACTLY what you will be getting with the exchange rate! I really like that part because when I sent money with the bank, I just had to more or less guess what we'd be getting. It also asks for your recipient's address and phone number exactly how it appears on their bank statement. Now, THAT is one part I'm not too fond of. Bank transfers do not require that and I don't see a reason why it is required here either. I had to frantically search for an old phone number to put in because, obviously, we don't have a phone in the UK anymore! After that, it asks you YOUR (the sender) name, address exactly how it appears on your bank statement, phone number, bank account number, routing number, etc. Then it confirms everything, you hit send, and VOILA! Job done. As long as you have everything correct, and all the information required, it is super easy. I instantly got a confirmation email, then another email telling me it was processing, and then another one telling me it was being sent. Within 10 minutes, the money was in our UK bank account, the amount exactly what I was told I'd get. So, I'd definitely recommend because it is a LOT cheaper than using a bank to wire money, easier, and you can do it from the comfort of your home, McDonald's, or wherever you source your Wi-fi from :) Five stars!
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