Xoom transactions lead time

hwang · #1 (**permalink**) 01-24-2008, 11:14 AM

Just curious. How long does a Xoom transaction take? Both my previous one took about 3 days. Is this standard or could it be faster? It is a transfer to bank account. How about own standard collection? Would that be faster?

life31 · #2 (**permalink**) 01-24-2008, 12:20 PM

Even for me it always took about three days. No i dont think we can expect still more faster than that because of its transaction process. Xoom i think is a central body which initates all transaction and then hen it receives the funds to be diposited. It sends the funds to its business patners in that particular country or neary country to credit the amount to your bank account.

Standard collection is the fastest i suppose. Its just a matter of minutes.Receptient can i thing directly go and collect the cash from the XOOM centres as soon as the senders funding is cleared.

hwang · #3 (**permalink**) 01-25-2008, 05:53 AM

So have you ever received a standard collection at local counters? I believe in India, they provide such facilities. I never know the delivery time is so fast, like minutes cause I've never receive money in such a way.

life31 · #4 (**permalink**) 01-25-2008, 12:15 PM

Ya there are many centres here and even some local banks intermediate the transactions and provide the service.But we cant withdraw from paypal to cash pick up if the sender and receptient is same and from the same country. In that case it has to be bank deposit. But if some one from other country sends me cash i can easily go to specified centre provide my identity and receive the cash.

hwang · #5 (**permalink**) 01-26-2008, 02:04 AM

Hmmm...That's interesting. Seems like you can also send the money to your own bank account. I thought that was not possible all this while. Does Xoom knows about this or are they aware that the transaction is directed to your own self? Does the money received in bank account as USD or converted to local currency? Thanks for the info.

life31 · #6 (**permalink**) 01-26-2008, 07:33 AM

Ya ofcourse! Its obvious that if senders name and address and receivers name and address is the same its self transaction

In my case every time both has been the same always as i always withdraw to my account only.
Yes i get the currency deposited into my country currency and i think thats the service what XOOM actually provides. I mean currency conversion and sending and receiving payments.

hwang · #7 (**permalink**) 01-27-2008, 03:52 AM

Ok. That is something new which I found out today. I didn't know that they allow self sending to own bank account.
Another question, How about if you send the money to your relative and ask him/her to pickup the cash for you then you will have cold hard cash in USD, right? I think receiving in USD is an option since we can keep it and wait for the US economy to recover before doing the currency conversion.

life31 · #8 (**permalink**) 01-27-2008, 06:19 AM

I think same country cash pick up dose not work. I mean i sending to someone ithin state or country.
It may work but not sure cos i havent used that. Even ther i think bank deposit is required.

But you or ny one else from any other country sending me cash cn easily work for cash pick up.

USD to USD ya might work not sure cos all the time its already converted to INR if its bank diposit. May be with cash pick up you can do that too.