Xoom – An Alternative Method To Withdraw Funds From PayPal To A Local Bank

1229466 32700830   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local BankPayPal recently caused a lot of furore and confusion when they announced “temporary halting” of payments to India. Every other person was left outraged and stranded with no means to withdraw funds from PayPal to a local bank. Xoom is a service that aims to solve such a crisis from affecting PayPal users. Apart from allowing you to withdraw from PayPal to a local bank, Xoom also lets you send money globally at really reasonable rates.

Here’s how you can use Xoom to move your PayPal money to a local bank account.

Sign up for the service

Xoom Signup   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

Head over to the Xoom website, and sign-up for their service. The website automatically detects your country and shows you the exchange rate that you can get for your precious dollars. Once you sign-up, you need to verify your email address. Head over to your inbox and click the validation link there.

Transferring Money

After completing the verification process, use your credentials to sign-in to the Xoom website. Click on the Send Money link at the top of the page. You will land at the page shown below.

Xoom Send Money   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

Select Send Money To A New Recipient and select a country from the drop-down list. Enter the amount to send in the text box to the right side of the screen. Then click on the Calculate Fee button to calculate the fees that you will be charged for the transaction. Although the transaction fees appear steep, many-a-time you can evade those by using a coupon code that you can find by performing a search online. I managed to find a few but they expire pretty quickly.

Now you’ll be presented three options for your transaction. Select the one that suits you best. Let’s select bank deposit for this example.

Xoom Options   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

Now, you’ll be redirected to a page where you need to enter recipient information. Simply enter all the details of your (or anyone else’s) bank account. This is the bank account where you want to receive the money. Make sure you enter accurate details as these will be verified with the bank once you authorize the transaction. After entering the details, click Next at the bottom of the page.

Xoom ReciInfo   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

Once you click Next, you’ll be taken to a Payment Information page. Under Service Type, select Pay With Your Debit Card, Credit Card, or PayPal Account. Under Select a Payment Method, select PayPal. Now comes the good part. If you’ve got a coupon code, enter it in the text box under Coupon Code (optional), and click Apply.

Thereafter, click Next.

Xoom PayInfo   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

Finally, you will be taken to a Review Your Transaction page. Here, you will be provided a summary of your transaction. Make sure all the details are correct (it is after all, your hard earned money!). If there are any changes to be made, hit Back and make them, else click on Authorize.

On clicking Authorize, you’ll be taken to a PayPal authorization page where you need to put in your PayPal credentials. Once you do that, you need to authorize the payment from your within your PayPal. Thereafter, you’ll be taken back to the Xoom website and a summary for your transaction will be shown to you. A link to the transaction summary will also be automatically be emailed to you.

Xoom PayPal   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

Lastly, heave a contented sign of relief as your PayPal money is transferred to your local account (especially if you are an Indian).

Xoom Summary   Xoom   An Alternative Method To Withdraw Funds From PayPal To A Local Bank

If you are one of the many plagued by India’s PayPal blackout, give Xoom a try. If you aren’t, you’ll still love the convenience it offers for transferring funds all over the world.

Let us know about your experience (or any alternatives) in the comments.

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21 Comments -

0 votes

MUNISH

plz chck,,,,i hav heard that xoom has stopped accepting paypal,,,,while other options r on,,,,plz chck,,,,,

0 votes

Abhigyan

I’ve myself withdrawn funds as recently as 2 weeks back. And yes, the money is safely in my account. So it should work.

0 votes

Paul Carson

After 18 months using Xoom to send money from Australia to the Philippines, Xoom now does not accept PayPal and will only accept a US bank account or US issued credit or debit cards. I am not dead in the water with Xoom and I have to find an alternative! Xoom is no useless for a lot of people.

0 votes

chakru

Do you know how the fees are charged? it will detected from the amount we send or do we need to pay an extra amount from our paypal? I am asking this because if I have $500 in my account and I want to send $480 to my account and Xoom charges say some $25 as fees then I don’t have enough fund on my paypal right? should I choose to withdraw less amount to support xoom fees?

Thanks

0 votes

Ian

Im in the same boat as Paul Carson. Its impossible for aussies to get a US-issued CC or Debit Card. My poor workers in the philippines are goin to have a terrible easter now thanks to xoom.

WHYYYY XOOOM???? WHY??????

0 votes
0 votes

Paul Carson

Xoom’s fees are charged to the person who sends the money. They are not deducted from the sent amount. But…. Xoom will not accept payments from PayPal after 24th of March 2010. Xoom can ONLY be used by person’s having a United States bank account, or a debit or credit card issued in the US. That means thousands of Xoom customers like me cannot use Xoom anymore and I still have not found an alternative. Have a look at:
http://www.screw-paypal.com/al… for alternatives to Xoom, and read what they say about Xoom! The stupidity of Xoom by restricting their service to virtually US citizens only, and losing so many others, should seriously hurt their market share. I hope so!

0 votes

Paul Carson

Xoom’s fees are charged to the person who sends the money. They are not deducted from the sent amount. But…. Xoom will not accept payments from PayPal after 24th of March 2010. Xoom can ONLY be used by person’s having a United States bank account, or a debit or credit card issued in the US. That means thousands of Xoom customers like me cannot use Xoom anymore and I still have not found an alternative. Have a look at:
http://www.screw-paypal.com/alternatives/alternatives_non_ebay.html#paypay for alternatives to Xoom, and read what they say about Xoom! The stupidity of Xoom by restricting their service to virtually US citizens only, and losing so many others, should seriously hurt their market share. I hope so!

0 votes

Abhigyan

XOOM is just being suggested as one of the many alternatives to other services on the Internet that offer the same facilities. While it has its share of drawbacks, it also allows some conveniences that we so crave. The idea of being able to transfer money that easily can’t be that bad.

0 votes

Paul Carson

Abhigyan, nobody without a US bank account or US issued credit or debit card can use Xoom now – they no longer accept PayPal. Xoom might be “one of the many alternatives” but they don’t offer “the same facilities” – not anymore. For me, after 18 months as a customer, Xoom is now totally useless. Being of no use to thousands of people is not a “drawback”, it is the death of Xoom and I have told them so. Their response gave me the impression that they couldn’t care less. Xoom is no longer an “alternative” when so many people can’t use it! There are quite a few other ways to transfer money “that easily”. And cheaper too! What “conveniences”, exactly, does Xoom have??? And since your post of February 24th is no longer relevant to this forum (Xoom no longer accepts PayPal) and it takes up a lot of space, I suggest it be removed.

0 votes

Mark Stephan

Any one help me regarding how to send money to other countries with out US issued debit and credit card. is there any other alternative to send money online.

0 votes

Paul Carson

Mark, my earlier post suggested: http://www.screw-paypal.com/alternatives/alternatives_non_ebay.html#paypay which lists alternative money transfer services for Ebay buyers and another list of services for sending money to friends, etc. I have recently found MMBB which I think I might sign-up for. They will accept photo ID by email which is easy. Many others want it as certified copies and posted to their office before your account is activated. Big hassle! Otherwise, if you have a PayPal account, then get the person you are sending money to, to also open a PayPal account linked to their bank account. You can then send money PayPal (yours) to PayPal (theirs) and they only have to log-in to PayPal and transfer the money to their bank account. And, so I’m told, the fee to send money via PayPal is minimal.

0 votes

Paul Carson

Mark, see my earlier post about alternatives at this link:
http://www.screw-paypal.com/alternatives/alternatives_non_ebay.html

It lists alternatives for Ebay buyers as well as a list for people who just want to send money to somebody. The other way is to ask your money recipient to open a PayPal account and they link it to their bank account. You can then send PayPal to PayPal (yours to theirs), and they just log-in to their PayPal account and transfer the money to their bank account. I’m told the fees are minimal. Otherwise look up MMBB which I just found recently. Sign-up requires only emailed ID. Many places want certified copies posted to their office – what a hassle! But MMBB will accept emailed ID and they don’t say they want it certified.

0 votes

Paul Carson

Mark, my earlier post suggested: http://www.screw-paypal.com/alternati... which lists alternative money transfer services for Ebay buyers and another list of services for sending money to friends, etc. I have recently found MMBB which I think I might sign-up for. They will accept photo ID by email which is easy. Many others want it as certified copies and posted to their office before your account is activated. Big hassle! Otherwise, if you have a PayPal account, then get the person you are sending money to, to also open a PayPal account linked to their bank account. You can then send money PayPal (yours) to PayPal (theirs) and they only have to log-in to PayPal and transfer the money to their bank account. And, so I’m told, the fee to send money via PayPal is minimal.

0 votes

Paul Carson

Mark, see my earlier post about alternatives at this link: http://www.screw-paypal.com/alternatives/alternatives_non_ebay.html#paypay
It lists alternatives for Ebay buyers as well as a list for people who just want to send money to somebody. The other way is to ask your money recipient to open a PayPal account and they link it to their bank account. You can then send PayPal to PayPal (yours to theirs), and they just log-in to their PayPal account and transfer the money to their bank account. I’m told the fees are minimal. Otherwise look up MMBB which I just found recently. Sign-up requires only emailed ID. Many places want certified copies posted to their office – what a hassle! But MMBB will accept emailed ID and they don’t say they want it certified.

0 votes

Paul Carson

Mark, see my earlier post about alternatives at this link: http://www.screw-paypal.com/al
It lists alternatives for Ebay buyers as well as a list for people who just want to send money to somebody. The other way is to ask your money recipient to open a PayPal account and they link it to their bank account. You can then send PayPal to PayPal (yours to theirs), and they just log-in to their PayPal account and transfer the money to their bank account. I’m told the fees are minimal. Otherwise look up MMBB which I just found recently. Sign-up requires only emailed ID. Many places want certified copies posted to their office – what a hassle! But MMBB will accept emailed ID and they don’t say they want it certified.

0 votes

Paul Carson

Mark, see my earlier post about alternatives at this link:
http://www.screw-paypal.com/al

It lists alternatives for Ebay buyers as well as a list for people who just want to send money to somebody. The other way is to ask your money recipient to open a PayPal account and they link it to their bank account. You can then send PayPal to PayPal (yours to theirs), and they just log-in to their PayPal account and transfer the money to their bank account. I’m told the fees are minimal. Otherwise look up MMBB which I just found recently. Sign-up requires only emailed ID. Many places want certified copies posted to their office – what a hassle! But MMBB will accept emailed ID and they don’t say they want it certified.

0 votes

Paul Carson

Ian, have a look at MMBB (Maine Municipal Bond Bank).

https://www.mmbbservices.com/1

Similar service to Xoom from the looks of it.

0 votes

Freelance Money Transfer

I am a freelance service provider of Bangladesh, I works with oDesk. But i was unknown that, how can my earnings transfered to my local bank account. Then i found a solution from blsoftmarketing freelance money transfer
And now i am fully successful for transfer my earnings. And my local account of Dutch-Bangla Bank’s is filled from my freelance earnings. I think blsoftmarketing is very useful for Bangladeshi providers.

0 votes

Abhigyan

UPDATE: Sadly, XOOM has stopped offering PayPal transfers.