Clear your confusion about Xoom [ FOR INDIANS ONLY ]

Hello All,

I have read a lot about Xoom and the user's view of not liking it and a few people like Arvind_srivastava trying to make people understand that its well worth it.

Here are a few commonly asked questions and few commonly information given wrong/half info provided for them. I have got all details for you from my personal experience and by contacting Xoom and talking to them for fews mins everyday trying to clear my doubts

1. Can i send Money to India, if i'm in India

Ans : You can send money to India from anywhere in the world using your U.S. bank account, U.S. debit or credit card, or PayPal. Its is no where written that the the recipient's should not be in India.

2. Indian RBI rules

Ans : The Reserve Bank of India (RBI) controls all banking in India , and makes special rules for companies that provide “money transfer.” Instant Cash is required to observe all of the rules for money transfer companies in India . Punjab National Bank is required to observe most of the rules, but is exempt from some of the rules because of its standing as a bank. One rule that applies to both PNB pickup and Instant Cash pickup: An individual may pickup money only 12 times a year. Instant Cash observes the calendar year (Jan to Dec). PNB observes the financial year (Apr to March). On the thirteenth transfer to an individual, the transaction is rejected.

3. What is required to receive a Xoom payment?

Ans :For Pickup:

1. Pickup Code
2. One of the following IDs:

* Passport Copy
* Pan Card
* Voter's ID
* Driver's License
* Attested Bank Passbook with Photo

4. Does Xoom Allows Direct Bank Deposit in India

Ans: Yes

5. How much money can I send from Xoom.com?

Ans : Your initial transaction limit is $1,000 per 24 hours period, and $3,000 per 30 day period. Based on your transaction history with Xoom, your limits may be raised in the future.

6. To what limit can it be extended.

Ans : Mine is 5 transaction(of $1000 each) for a 30 day period(instead of the usual 3).

7. Crossed Cheques and Crossed Demand Drafts ?

Ans : In India, Crossed Cheques and Demand Drafts are banking instruments that display the beneficiary's name. Two diagonal lines in the upper left on the cheque contain the words “A/c PAYEE ONLY.” These can only be deposited into an account held by the beneficiary. The name on the account must match the name listed on the crossed cheque. Xoom Deliveries to India are always Crossed.

8. Is it necessary to have the same paypal account holder's name and the bank account holders name and only then the transaction will be successful ?

Ans : Most commonly mentioned as YES on DP but the Ans is NO
In my case, My Account holder name (on paypal ) is Miss ABC and the Bank account holder name is : Miss XYZ. I;m able to send the money. This is because while filling the Xoom Sign up form i mentioned my name as Miss XYZ and i always send the money to Miss XYZ.
For my first transaction i received a call from Xoom (most probably London) asking about the source of income and i mentioned that i work on forums.digitalpoint.com and i offer my services on DP and i get paid for that. They asked me to send my PAN card and also my Address proof to them in next 24 hrs and after that i never had any further verification.

9. Which currencies can be sent and received?

Ans : All Xoom money transfers are paid for in U.S. dollars, and disbursed in either local currency or U.S. dollars, varying by country. For local currency disbursements, U.S. dollars are converted into the local currency of your destination country, based on the current exchange rate at the time you complete your money transfer.

10. Is Pickup/Delivery/Bank Deposit allowed in India ?

Ans : Yes all are allowed in India

11. If my money transfer is rejected will Xoom deduct any money before returning my money back?

Ans : No they dont deduct any money. However it may take from 2 days to a week to complete the refund.

12. Contact number of Xoom

Ans : 9:00 AM - 6:00 PM, Mon - Sun 1-600-180-12-33 (MTNL/BSNL, toll-free) and/or 91-124-2575678 (all others)

I may have missed out on a few questions. Please do add them on and in case you think something is mentioned wrong do bring it to my notice. I'll be more than happy to assist you in any of your concerns/confusions/issues on the payment via Xoom

Sandra

 

Thanks Sandra for that useful information..You really Rock

 

Thanks for the valuable information about xoom. I am going to use xoom soon.

 

that post was very helpful! though most of those queries i have already got answers about! some of my questions dose clear this post!
cheers

 

This is really a usefull post for everyone who wants to use XOOM for PP/INR exchange.

 

Thanks Sandra for great informations. It should clear some doubts on our minds.

 

I was busy with some personal so couldn't reply to all PM's.
Anyways, Thanks Kulwinder, Kanwarjot ,technoguy , uttoransen , deluxdon , getjimmy and Rohit patel for your feedback.

Edit : Repped you'll.

 

I have transfered my paypal amount to HDFC bank via xoom .
So did I need any verification to receive payment from the bank ?
I think the amount will be credited in my account ?

 

I mailed similar questions to xoom support before 10 days but no reply from them

Thanks for the number, I will be calling them with my querries.

 

HDFC will not call you or send anyone to your home for any verification. Its Xoom who will either call you(if its the first time ) and/or send you an email asking for your utility bills and photo id card to find out your source of income.

Welcome. If i can be any of any further help do let me know.

 

But I received a email saying that my transaction is complete.
And will receive money within three to five days ?

 

Thanks Sandra for the info

 

That is even better.

Welcome.

 

So any problem arise ?

 

Well we are all here to help...not to worry.

 

Hehe thanks for the useful post I am sure it helps every Indian out here.

Sorry I was in a hurry so I couldnt reply earlier

P.S. : Sandra !! you didnt rep me !!

Keep up the Good Work my friend.

Best Regards,
Kulwinder.

 

Thanks for the comments. Also i have had few PM's coming in my mailbox asking few queries. I suggest let us you this thread to clarify our doubts as someone else who is more knowledgeable than me may be able to assist you as well.

Sandra

 

Hi guys, there is a small correction in BSNL/MTNL toll free number.

It is 1-800-180-12-33

If you have any doubt, call this number they are very polite and clear your doubts completely.

 

thanks for the xoom update sandrarocks