Hello Friends... It has been quite some time, that I am thinking about withdrawing my money from Paypal account to my Bank account using Xoom services. I have been the adopting the cheque method which takes a whooping 25-30 days to actually realise the amount. But I was told earlier there is no other way for Indians to withdraw money other than the Cheque method. But now I hear there is way to withdraw amount directly to you Bank Account and that too in 48 hrs by Xoom. Amazing.... Having intensively researched this forum I find equal number of people talking about Xoom as Legal and Illegal. I would like to have a honest opinion about people using Xoom transfer whether this method is LEGAL and have no tax issues or other controversies from Indian govt or Paypal later on? Also, do we have to pay transcation fees to both Paypal and Xoom. For example, say I am withdrawing 300$ today. Does that mean Paypal will charge 5$ (their per transcation fees) + $ 9.99 (Xoom transcation fees). Last but not the least, do we need to use different names and address for both Paypal and Xoom i.e the Sender and Receiver has to be different or it is ok to be Same. I am planning to send money to myself from my own Paypal account.... Please help. Thanks and Regards gopal
it goes real smooth, ive just ordered some bucks from xoom recently this is my 2nd transaction, i was little worried with the 1st one as well.
No as i said earlier in other thread you can't transfer from your unverified paypal account as far as i know. @forumrating - You don't need to worry about your first transaction IMO
I have used xoom for over 12 times, awesome reliable service. You account has to be verified, you will be charged $9.99, no other fees except that $1 will not be the actual market price...it may be less by 10-20paisa. Still fast service for Indians. Need any more info...Please feel free to PM me
So does the money gets transferred to your Bank account in 48 hours ? & what if you are transferring less than $100.00 please help me guys.
amit if you transfer less than $100 then also they charge you $9.99 for that and you will get your funds in your bank account within max 2-3 days. They charge $9.99 for amount $25 to $500 and $14.99 for amount $501 to $1000.
That is fine with me, I will definitely try this tomorrow & transfer a small amount of money & will post the results here. Also just came to know that there is a small discount using the code CRM91.
Yes you are right amit. If you fail to use that coupon then may be try 'xoomlatino' and 'jim'. Maybe it'll work for as you never used it previously.
I have a xoom account linked to my bank and yes I got people paying me for services with their paypal via my xoom account. And if it's illegal it could not be possible for them to have a direct bank partner here in the Philippines. And another thing I got the money direct to my account in 48 hours.
Thank you guys... It is really great to be at DP. All the members have been so helpful. Ok, after receiving encouraging news about Xoom. I tried to transfer a small amount through Xoom, but got stuck up in between with a doubt.. which could be a silly one. The help support is showing some error at Xoom. When you send money through Bank transfer. There are four columns. 1) Name of the beneficary 2) Bank Account Number 3) Branch Name & 4) Branch Code: All these are simple to understand. However I got bit confused when they say Bank Account Number, is it my personal Bank account number that I am holding with the concerned bank or is it the Bank's Account Number (For eg: Banks have various account numbers in US, Europe, other International Banking branches etc). I am sure this transfer is not like the SWIFT transcation where one needs to put a proper route like.... Bank ABC--> SWIFT code at US---> SWIFT code at India---> Branch Code----> Account no of the person etc... However, I would like to confirm with you people, before I transfer my small amount which is undoubtedly a very hard earned money. I dont want to be stranded in between... BTW any input of rupee further appreciating against dollar in coming days? Or the Indian govt is planning to sustain and improve to atleast Rs. 40/ dollar?? Thanks and Regards Gopal
The bank account number is your personal banck account number. They will not require a swift code or something because like western union works they have a partner institution, most likely a local bank in your area, to send the money to your bank account locally. Swift codes are only need for international transfers.