Author Topic: Dollar Accounts P.I. Banks & poor Xoom customer service (Read 578 times)

moneyymatters999 · « **on:** Jul 06, 2012, 04:55 PM »

Can anyone advise if transfers sent from USA bank to dollar account at major Phil bank can be dispensed in dollars to avoid currency exchange losses?
What is the fee for such a transfer of approx $2,999 USD with xoom. I may be going with another transfer service as xoom has ignored my email on this of over 4 days ago.

ferrariEverest · « **Reply #1 on:** Jul 06, 2012, 07:31 PM »

i don't think fees or currency exchange losses incurred from fund transfers are inevitable.

it's best to ask xoom about their fees. (wait for their reply)
while waiting, ask another money transfer company about their service.

moneyymatters999 · « **Reply #2 on:** Jul 07, 2012, 09:17 AM »

Anyone know the answer to the question?

MsPerryK · « **Reply #3 on:** Aug 02, 2012, 03:33 AM »

the question is, is the Phil. bank account a dollar account or a peso account? Based on my understanding, if the phil account is a dollar account, the dollar amount will remain the same. If this phil account is a peso account, the dollar amount will be converted to peso.

MacDelta · « **Reply #4 on:** Aug 02, 2012, 06:30 PM »

Yes,

Losses can not be avoided but there are ways it can be cut off in huge amount and you are still receiving the amount in dollars using xoom, in fact this is the one I would recommend if someone will send a money from US. The charge is 7.99$ if you want the recipient in Philippines to received the money dollars and 5.99$ if you want the money in pesos. If someone would send you more than 2,999.$ then I suggest divide the amount into two deliveries. If you don't have a dollar account in the Philippine bank, xoom is still offering a money pick up in dollars in any BDO branch and SM outlet.

Of all the available money transfer here in the US, I would still recommend xoom. I tried 3 of them and xoom is still the cheapest compared to western union and money gram. It's fast and reliable. The hassle in your first sign up has a lot of questions but this is because of security reasons like they will ask your personal address and some sort of personal things which you the only one knows, in this way security breach can be avoided. Its like opening a bank account in a bank, you can not just expect that you would entrust your money and just walk away.

I've been using xoom for almost 3 years and I dont have any problem at all and for the following reasons.
1.It alerts me on my email if I send a money to someone
2.The money is always on time
3.You can cancel the transaction right away if you are not sure
4. Security and reliablity, I guess I have a peace of mind knowing the money I sent is received on the exact recipient.

Please don't be cheap if you are transferring a wired money because there is always a price to pay for that. If your relatives has a problem in signing up, like there is something to clarify there is always a customer support number that hey could call in the US and help them to assist in the process.

I am responding to your inquiry because you seem need help and not properly informed. I am just a happy and satisfied customer for their service for 3 years and counting.

naya · « **Reply #5 on:** Aug 06, 2012, 08:00 PM »

I've been receiving my payment remitted through XOOM in US$ at a BDO branch for 5 months now without any glitch. After getting my dollars, I go to a nearby Czarina and exchange my dollars into pesos, and then deposit my pesos into a nearby BPI cash deposit machine.

For the remittance amount of US$2,999, the XOOM fee is $4.99 if money is sourced from a bank account and $38.99 if it's sourced from a debit or credit card.

By the way, a Xoom transfer is processed immediately and is available for release within minutes of remittance from the US. The first Xoom email says "__ has sent you money", and the next email within one or 2 minutes says "your money is ready for pick-up"