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I Tried Xoom Today
- Thread starter jeff1234
- Start date
Check out their website. They explain quite a bit, though some of it may be a little vague.
EricLovesBA
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After reading this thread I thought I'd give Xoom a try. As was mentioned above, there are "mixed experiences", and mine was definitely negative and a big waste of time (around 2 hours+ of filling out forms, sitting on hold, faxing documents, etc over a couple days with the only outcome of increased risk of identity theft).
I tried to run my transaction using a debit card, sending the money to my Father-in-law's Galicia account. This was convenient for me as I live in the conurbano, and the nearest pickup location is Quilmes, maybe 40 minutes or more from here by bus and train. Within a 1/2 hour or so the transaction was listed as "canceled" in the xoom online transaction history. So, I called, and they asked for supporting documents, first a photocopy of my passport and driver's license. I sent it, no email verification even of receiving it, so I called later that night. After some time on hold, they said they wanted me to send a photocopy of my debit card! This seemed very odd for me, but the exchange rate (currently us$1 to ar$6) was very attractive so I took the risk of faxing this info as well. Again no confirmation or response, so I called again. They said they needed to review my info, but that I "might need to use a different service" and they will email me in 10 minutes to let me know. A while later I received this email:
"Your transaction has been cancelled on accordance with Xoom's user agreement policy. - We are unable to authenticate your Xoom profile, as well as the intent of your transaction.
We have also disabled your account and recommend using an alternate money transfer service.
Thank you,
Xoom Customer Verification Team"
Having risked identity theft by sending all this personal information, I was pretty ticked by this email. I called their customer service, talked to a rep and a manager, and both said that I have now been flagged by an automated system, and that they cannot do business with me. My account is permanently canceled. They recommended I use an alternative service. "Such as?" I asked. "Western Union" Lol.. I laughed and told them thanks for wasting my time and that was that.
I really do not understand what the risk is for them - I have the money in my account. If my bank is willing to release the funds to xoom based on my normal online authentication, what risk does Xoom assume in forwarding it to me?? I asked the manager that too, but they didn't have an answer.
Anyway, the bottom line is that the exchange rate is very favorable, but if you're going to use the service, don't raise any red flags and make sure all your ducks are in a row. I can only think of 2 things that might have put them on edge.
1. My driver's license address is an older address which doesn't match the bank account address. Also my roommate in the US has recently moved, and possibly I have a yet more recent address on file with the USPS, so maybe that doesn't line up for them either. But everything I entered did match the bank account address.
2. The money was being transferred to a 3rd party savings account here. At one point they recommended I just transfer it to a drop center instead. Maybe if I had done so, things would have gone through normally. Also they mentioned a transfer from me being located here (which I stated I am physically here, but perhaps they also know that from the IP address) should normally be to an account in my own name, but I have not set one up here. So apparently their preferred options are:
a. (best case) transfer to drop location
b. transfer, while physically located in the US, to an argentine bank account in your own name.
c.(worst case) transfer while located here, to a 3rd party bank account.
Possibly the part about "intent of your transaction" has some significance as well. The options were limited on the form. I put "to buy goods", which was the closest thing to the reality of "sending the money to myself through my father-in-law's account to buy roofing materials." But maybe for them "to buy goods" meant "To launder drug money". Who knows.
I think the thing that really irritates me the most is that it's "permanently" flagged - that with no specific explanation they are refusing to do business or try to help me verify my identity or intent. Knowing myself who I am and what my intent is, and that it is legitimate, this is very offensive and makes me feel that they truly stole my time.
Btw the aforementioned "cruz" coupon code appeared to still be working, and you'll need it if you're going to use a debit card. Bank transactions cost $30, but you don't find out until you're half way through that a debit/credit card transaction is $46.
Hope you guys have better luck than I did!!
I tried to run my transaction using a debit card, sending the money to my Father-in-law's Galicia account. This was convenient for me as I live in the conurbano, and the nearest pickup location is Quilmes, maybe 40 minutes or more from here by bus and train. Within a 1/2 hour or so the transaction was listed as "canceled" in the xoom online transaction history. So, I called, and they asked for supporting documents, first a photocopy of my passport and driver's license. I sent it, no email verification even of receiving it, so I called later that night. After some time on hold, they said they wanted me to send a photocopy of my debit card! This seemed very odd for me, but the exchange rate (currently us$1 to ar$6) was very attractive so I took the risk of faxing this info as well. Again no confirmation or response, so I called again. They said they needed to review my info, but that I "might need to use a different service" and they will email me in 10 minutes to let me know. A while later I received this email:
"Your transaction has been cancelled on accordance with Xoom's user agreement policy. - We are unable to authenticate your Xoom profile, as well as the intent of your transaction.
We have also disabled your account and recommend using an alternate money transfer service.
Thank you,
Xoom Customer Verification Team"
Having risked identity theft by sending all this personal information, I was pretty ticked by this email. I called their customer service, talked to a rep and a manager, and both said that I have now been flagged by an automated system, and that they cannot do business with me. My account is permanently canceled. They recommended I use an alternative service. "Such as?" I asked. "Western Union" Lol.. I laughed and told them thanks for wasting my time and that was that.
I really do not understand what the risk is for them - I have the money in my account. If my bank is willing to release the funds to xoom based on my normal online authentication, what risk does Xoom assume in forwarding it to me?? I asked the manager that too, but they didn't have an answer.
Anyway, the bottom line is that the exchange rate is very favorable, but if you're going to use the service, don't raise any red flags and make sure all your ducks are in a row. I can only think of 2 things that might have put them on edge.
1. My driver's license address is an older address which doesn't match the bank account address. Also my roommate in the US has recently moved, and possibly I have a yet more recent address on file with the USPS, so maybe that doesn't line up for them either. But everything I entered did match the bank account address.
2. The money was being transferred to a 3rd party savings account here. At one point they recommended I just transfer it to a drop center instead. Maybe if I had done so, things would have gone through normally. Also they mentioned a transfer from me being located here (which I stated I am physically here, but perhaps they also know that from the IP address) should normally be to an account in my own name, but I have not set one up here. So apparently their preferred options are:
a. (best case) transfer to drop location
b. transfer, while physically located in the US, to an argentine bank account in your own name.
c.(worst case) transfer while located here, to a 3rd party bank account.
Possibly the part about "intent of your transaction" has some significance as well. The options were limited on the form. I put "to buy goods", which was the closest thing to the reality of "sending the money to myself through my father-in-law's account to buy roofing materials." But maybe for them "to buy goods" meant "To launder drug money". Who knows.
I think the thing that really irritates me the most is that it's "permanently" flagged - that with no specific explanation they are refusing to do business or try to help me verify my identity or intent. Knowing myself who I am and what my intent is, and that it is legitimate, this is very offensive and makes me feel that they truly stole my time.
Btw the aforementioned "cruz" coupon code appeared to still be working, and you'll need it if you're going to use a debit card. Bank transactions cost $30, but you don't find out until you're half way through that a debit/credit card transaction is $46.
Hope you guys have better luck than I did!!
Hi - the same thing happened to me - account cancelled, go somewhere else, etc. However - in reality my account hadn't been cancelled and in a few days I just sent through another transfer (for a smaller amount) and it went through. I've since been able to use Xoom multiple times. They are super unorganized and have horrible customer service but I would give it another go just picking up the pesos in person (rather transfering to an account). I had the same exact fear about identity theft and threatened to call the Better Business Bureau on them etc! But I really love the exchange rate so I pressed on...Each time I go to pick up the money I sort of feel like I'll have another issue but I haven't yet! Good luck....
earlyretirement
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Xoom definitely is a legitimate company. However, they seem to really really be careful about potential fraud. Everything has to line up right. They asked me for tons of things including driver's license, passport, bank statement, even copy of my credit card statement (as I was using that to fund the account).
They wanted to see that all the addresses matched up on all the statements. If not, I think they view it as a higher percentage of fraud. They would rather miss out on the business vs. taking a chance of fraud when things don't line up.
I've had no problems at all sending in thousands of dollars by filling out all their paperwork and on the More Money side too. No problems at all but everything matched on my paperwork. I think that is the key.
They don't do any credit checks as I have a credit monitoring service and no soft or hard pull is done with the credit reporting agencies...
They wanted to see that all the addresses matched up on all the statements. If not, I think they view it as a higher percentage of fraud. They would rather miss out on the business vs. taking a chance of fraud when things don't line up.
I've had no problems at all sending in thousands of dollars by filling out all their paperwork and on the More Money side too. No problems at all but everything matched on my paperwork. I think that is the key.
They don't do any credit checks as I have a credit monitoring service and no soft or hard pull is done with the credit reporting agencies...
earlyretirement
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By the way...I tried using the "cruz" code today and it says it doesn't work. That hasn't worked for a while now. Or maybe they have it set up once you use it, then it won't work anymore? Not sure... I used it once but it hasn't worked after that.
earlyretirement said:By the way...I tried using the "cruz" code today and it says it doesn't work. That hasn't worked for a while now. Or maybe they have it set up once you use it, then it won't work anymore? Not sure... I used it once but it hasn't worked after that.
Each coupon only works one time per account.
EricLovesBA
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Meri said:Hi - the same thing happened to me - account cancelled, go somewhere else, etc. However - in reality my account hadn't been cancelled and in a few days I just sent through another transfer (for a smaller amount) and it went through. I've since been able to use Xoom multiple times. They are super unorganized and have horrible customer service but I would give it another go just picking up the pesos in person (rather transfering to an account). I had the same exact fear about identity theft and threatened to call the Better Business Bureau on them etc! But I really love the exchange rate so I pressed on...Each time I go to pick up the money I sort of feel like I'll have another issue but I haven't yet! Good luck....
Thanks Meri! Good info and advice. Later in the day today I was considering trying again with a new account, and as you said, sending it to one of their kiosks, and maybe using a direct transfer instead of my debit card. Was thinking maybe this wouldn't trigger them using the 3rd party verification service that had a problem with approving me. You're solution is even simpler - I'll try it and let you all know how it turns out.
EricLovesBA
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I tried a more straightforward transaction, sending to myself via a kiosk, using bank account/routing number, but it was automatically canceled by their automated system within a few minutes. If I am able to come up with something that does work, I'll report back.
