Xoom Money Transfer

[Aztangogirl]

I use western union and will continue to use it. Never had a problem. I get the money the same day from my U.S. account. One transfer a month takes care of all my needs. Cost $9.00.

 

[Fiscal]

American credit cards 95 percent of the time and I withdraw 5000 pesos from an ATM machine every once in awhile for petty cash.

 

[jantango]

This new policy change by XOOM may effect some of you who use the service for money transfers from a US account. I received an email with the following:

We've noticed that your residence address is outside the countries where Xoom operates. Our policies have changed and now require a residential address in the United States, Canada or Europe to use Xoom.

If you now live in the United States, Canada or one of the European countries where Xoom operates contact us to update your information. If you do not communicate with us, you will be prompted to update your address the next time you use Xoom.

Thank you for being a customer of Xoom.

Sincerely,
Xoom Customer Service

After six years with Xoom, I am no longer a customer.

 

[steveinbsas]

After six years with Xoom, I am no longer a customer.

Transferwise is faster than XOOM, easier to use (far less paperwork) and offers better rates:



1 USD → 44.90 ARS Mid-market exchange rate (from Reuters)
1 minute ago

You send exactly $478 USD

Transfer fee: 10.50 USD

You will receive: $21.026 ARS



1 USD = $42.039ARS

You send $478 USD

Transfer Fee: $12.99 USD

You will receive $19,059 ARS-

 

[steveinbsas]

PS: To my previous post:

I believe Transferwise adds the fee to the amount to be transferred and XOOM deducts the fee from the amount to be transferred.

If that is the case, it would reduce the difference in the net amount received by about $500ARS (mas o menos) for a transfer of about $500USD.

 

[steveinbsas]

PS: To my previous post:

I believe Transferwise adds the fee to the amount to be transferred and XOOM deducts the fee from the amount to be transferred.

If that is the case, it would reduce the difference in the net amount received by about $500ARS (mas o menos) for a transfer of about $500USD.

It looks like Transferwise actually deducts the transfer fee from the total amount that will be deducted from the sender's bank account.

In any case it looks like I made an error and the amount received using XOOM is about $700 ARS more than I first calculated.

I just ran the numbers again and for a transfer of $478 USD:

...the amount received using Transfwerwise was $21.072 ARS

...the amount received using XOOM was $19.774 ARS

The difference is $1.298 ARS

 

[JELS]

It looks like Transferwise actually deducts the transfer fee from the total amount that will be deducted from the sender's bank account.

In any case it looks like I made an error and the amount received using XOOM is about $700 ARS more than I first calculated.

I just ran the numbers again and for a transfer of $478 USD:

...the amount received using Transfwerwise was $21.072 ARS

...the amount received using XOOM was $19.774 ARS

The difference is $1.298 ARS

Hello Steve,

Very interesting option. Have you used Transferwise from the US to Argentina lately? Can you send from your US bank account to yourself? Have you used Santander Rio Bank? Thanks a lot for your help. JELS

 

[steveinbsas]

Hello Steve,

Very interesting option. Have you used Transferwise from the US to Argentina lately? Can you send from your US bank account to yourself? Have you used Santander Rio Bank? Thanks a lot for your help. JELS

As Simon Cowell would say, "You have three yeses."

 

[wineguy999]

As Simon Cowell would say, "You have three yeses."

Hey Steve,

I'm curious about one thing you don't mention: In my transferring money to two different people in BA, they were hit with a banking fee that the banks said is a government fee, unavoidable. You don't mention this at all. Any idea how you're not charged a fee from the incoming bank?

Cheers!

 

[Neil]

Doesn't Transferwise use a local bank (Banco Comafi??) To transfer to the end user? So the transfer appears as a local bank to bank transfer,and incurs no additional fees...?