Xoom Corporation, an online money transfer provider, was named the best money transfer company to Latin America and the Caribbean by the Inter-American Dialogue (IAD).
IAD conducted a study released last month and measured 37 companies on six money transfer indicators including cost, coverage, and customer service. Xoom earned top scores in each category, and is the only company that offers transfers without sending agent locations.
Customers use the Xoom.com website to enter the send amount and beneficiary information, make a money transfer decision, select the country and pay partner, pay for the transaction using a checking account or credit card, and track the transaction, according to a recent HispanicTips.com article.
Xoom customers can see the transfer fee and foreign exchange rate immediately, letting them know how much their family will get. Xoom also has a mobile platform, and offers transfers service to 18 countries including Mexico, El Salvador, Guatemala, Honduras, Dominican Republic, Colombia, Peru, Ecuador and Brazil. The cost of sending money to Mexico is $4.99 for any amount up to $2,999, when funded by a checking account. To send money to any country, customers can log in to Xoom.com, 24 hours a day, seven days a week, from any computer or mobile phone and follow the steps to complete their money transfer.
