I Tried Xoom Today

[vamonos2012]

I've sent in $2,000 US before with no problems.

I had to fill out all that extra paperwork just the first time I sent in. But after that I never had any problems at all and it went very quickly. However, keep in mind I'm sending the funds to my bank account in Argentina. I'm never picking up the funds. I'm not sure if that makes a difference or not.

I typically shoot an email over to my contact at More Money Argentina that asked for all the paperwork and just send him a heads up that I'm sending a payment and he confirms almost immediately that the funds will be deposited into my account.

They go and deposit it in cash into my local bank account never in increments of more than 5,000 pesos at a time.

@Earlyretirement I have to wait until my DNI before opening an account. Till them I have to make the visits. Did Xoom give you a contact or you simply started using the one person you know as a contact and giving them a heads up?

 

[earlyretirement]

@Earlyretirement I have to wait until my DNI before opening an account. Till them I have to make the visits. Did Xoom give you a contact or you simply started using the one person you know as a contact and giving them a heads up?

Xoom didn't give me a contact. They emailed me and told me that More Money needed "more information" so someone at More Money Argentina emailed me and he asked me to fill out several forms/paperwork. (I posted about it in detail in another Xoom thread).

So that is how I got the contact at More Money Argentina (the company Xoom uses locally in Buenos Aires). Now anytime I send in a large amount, I just give my contact a heads up email and he always says no problem and they deposit it the following day.

 

[nikad]

Apparently Xoom now says the yearly limit is 40000 pesos. They have always worked smooth for us, but this time they keep asking for more and more papers. In the meantime they have had our money for 5 days which makes me extremely uncomfortable. I don´t think we will be using them anymore.

 

[irina]

I had a hard time with my transfer this week too. They were asking to see the source of my funds. How I get paid to make sure I obtained that money in a legal way I suppose, which made me feel uncomfortable, why does AFIP need to know about my funds in the US as I'm not even a resident or citizen of this country here? We ended up speaking with a manager at More Money to get this transfer sorted out but I don't know if I'll use them again either.

 

[jeff1234]

I've been a big fan of Xoom. Until last week. instead of my normal 5-10 minutes, this visit to my local office resulted in first, my being sent home to get my actual passport (vs the copy that I have been using), then 90 minutes of filling out forms and waiting, and waiting for approvals.
I pretty much get the same money from the same account about every 10 days. And they didnt ask me any additional questions when I set up last weeks transaction online. So I was really surprised at the hassle when I went to get the cash.
The clerk knows me by now and was embarrassed by the bulls... and several times suggested that I start using Latin Express. He said they work the same way but without the hassles.
I tried to look them up but it appears that they work only by phone.
Does anyone have any experience with them?

 

[NYCExpat]

I've been "xoom"ing for the last 4 months. I've only been able to complete cash pick-ups at the More locations- not into my local bank account yet - but it continues to work well.

 

[shuro18]

Does anyone have any experience how long does it take for money to show up in a bank account? I sent $1000 to my friend on Sept. 5th (bank deposit option). Xoom was quick and easy in confirming and calling me back as soon as I had finished the online transaction.

MMT contacted my friend to fill out their forms (PEPS and the Declaration of Origins) shortly after, on the 10th. My friend filled out the forms; MMT did notify him that he had forgotten to fill in some parts, etc. So with him trying to send corrected forms and MMT confirming everything was fine that took about two weeks. Finally, on the 27th, I called MMT and was told the deposit was being done that day and on Xoom the status was changed to "Transaction Completed."

My friend went to the bank yesterday Oct. 1st and there was no money. MMT says the deposit was done on the 27th and no further information was given. Xoom just said that they will be investigating with the partner bank. Does anyone have any experience with this? Maybe the deposit takes three or ten business days? I'm rather uncomfortable that $1000 are floating... somewhere.

 

[earlyretirement]

Does anyone have any experience how long does it take for money to show up in a bank account? I sent $1000 to my friend on Sept. 5th (bank deposit option). Xoom was quick and easy in confirming and calling me back as soon as I had finished the online transaction.

MMT contacted my friend to fill out their forms (PEPS and the Declaration of Origins) shortly after, on the 10th. My friend filled out the forms; MMT did notify him that he had forgotten to fill in some parts, etc. So with him trying to send corrected forms and MMT confirming everything was fine that took about two weeks. Finally, on the 27th, I called MMT and was told the deposit was being done that day and on Xoom the status was changed to "Transaction Completed."

My friend went to the bank yesterday Oct. 1st and there was no money. MMT says the deposit was done on the 27th and no further information was given. Xoom just said that they will be investigating with the partner bank. Does anyone have any experience with this? Maybe the deposit takes three or ten business days? I'm rather uncomfortable that $1000 are floating... somewhere.

I'd ask MMT for a copy of the deposit. One time when I was traveling and didn't have my e-token for my bank to check if they deposited it, I asked MMT for a copy of the deposit and they promptly emailed me a scan of the deposit receipt.

They have always deposited my funds in my bank in cash so it has always hit the following business day. But no way a cash deposit would take more than 1 day. I'd suggest you ask MMT for a copy of the deposit.

Sounds strange.

 

[stl999]

Hey, I will apologize in advance if this has already been posted, but I did a quick search with no luck so far.

So, I have had a transaction help up with xoom (account to account) for just over 2 weeks. They keep requesting more documents. Last week I sent what they asked for, now they want more. I am worried about handing over all this personal information.

Has anyone else had to complete the DECLARACION DE ORIGEN Y DESTINO DE FONDOS (which asks for how the funds were earned and how much salary I earn monthy) and DECLARACIÓN JURADA SOBRE LA CONDICIÓN DE PERSONA EXPUESTA POLÍTICAMENTE (which is fine, my answer is no)?

I generally trust my gut, but just want some other opinions out there before I go through with this.

Thanks in advance.

 

[kurtdillard]

STL999, if you're a resident of Argentina and you are already reporting all income and wealth for tax purposes then I don't see any issues. If you're living off the books then providing this information could give AFIP reason to investigate your finances. If you are not an Argentinian resident then I'd be reluctant to give them this data because it could be used for identity theft or other malicious purposes. Those are my thoughts.