Xoom account closed without explanation

Meri

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Hi everyone,
I´ve used Xoom last month for the fist time. They took two weeks to authorize the money pick up (pesos) after it had been debited from my US bank account. This was annoying, but I finally did get the money and because the exchange rate is so good I attempted another transaction this month. This time they cancelled my transaction and closed my account citing an inability to authenticate my account or the reason for the money transfer. Has anyone else experienced anything like this from Xoom? I´m in the process of trying to figure out what the problem is but their customer service is some of the worst I´ve ever dealt with. When I last called I was told that they didn´t have to give me a reason to cancel my account. Super frustrating....
Meri
 

nikad

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how much $$$ roughly?
i heard about 10k pesos limit per month...
 

Meri

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Ah OK....I received about 14K pesos last time (to pay a chunk of rent)...maybe that´s the hold up. Still, would be nice if they told me that!
 

JWB

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Meri said:
Hi everyone,
I´ve used Xoom last month for the fist time. They took two weeks to authorize the money pick up (pesos) after it had been debited from my US bank account. This was annoying, but I finally did get the money and because the exchange rate is so good I attempted another transaction this month. This time they cancelled my transaction and closed my account citing an inability to authenticate my account or the reason for the money transfer. Has anyone else experienced anything like this from Xoom? I´m in the process of trying to figure out what the problem is but their customer service is some of the worst I´ve ever dealt with. When I last called I was told that they didn´t have to give me a reason to cancel my account. Super frustrating....
Meri

Same thing happened to me and their customer service is worse than any company I've dealt with in Argentina (and that is bad).

Xoom is a joke and a scam. Gladly, I'm' sure they will be out of business soon if they continue to provide the same shit service.
 

Meri

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Apparently if you speak to Alex in customer service he is decent but I´ve yet to get him on the phone and the rest are god awful. Insultingly awful! I have a friend here who has been using Xoom quite successfully although the local money pick up place gave her the third degree last time she went.
 

French jurist

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About three years ago, same thing happened to me.

But they did something wrong, I cashed the equivalent of 500 USD and they never debited me. I told them (karma) and they were supposed to contact me again to claim their 500 USD. I'm still waiting.

Fine management!
 

Meri

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Wow at least it was that way and not the other way around! Definitely shows the sloppiness though...
 

henryb

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Meri said:
... citing an inability to authenticate my account or the reason for the money transfer ...

Looks pretty much as an explanation to me.

Apparently they are following Financial Information Unit requirements and anti money laundering law 25.246.

There are many positive Xoom reviews in another thread.
 

jimdepalermo

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Xoom customer service is indeed terrible. Try calling their compliance folks at 1-877-748-6444 to try to get an explanation or correction.

Their limit is U$ 6000 per month, so that's not the problem. Did you send them your ID and a copy of a recent bank statement for the donor account? They requested these from me and then lost them (a couple of times).

I've done 2 transfers with them so far, both at the max, U$2999, for deposit in my argentine bank account. The problems I encountered were mostly just communications between the Xoom folks and their local agent, More Money Transfers. (MMT staff even admit to having problems with Xoom.) My advice is to watch email closely when you order a transfer, and respond immediately to anything they request. Also call Xoom if the order sits in the same status for more than a day. Once it goes into "Confirmation in Progress" status (which is confirm of the recipient, btw), contact MMT to make sure they have the order, and to ask what they need from you to process it.

If you scan the larger Xoom thread, you'll find various forms and questionnaires they've requested from clients to authenticate donor accounts, recipients, etc.
 

Meri

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So Xoom did get back to me and said that they are uncomfortable sending the sensitive documents (bank statement, etc) that Argentina is requiring through an insecure email system. So it does appear to be the govt scrutiny that is causing the issue. I'll going to MMT with the documents I think and see if they'll communicate back to Xoom.
 
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