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Remittance firm offers no-pay-until-received deal

SAN FRANCISCO –A global online money transfer provider assured Filipino remitters who send money using their bank accounts that “no money will be withdrawn until the money is received” by their intended recipients.

The POWR, or Pay Only When Received program, was launched by Xoom Corporation (NASDAQ: XOOM), named by the Wall Street Journal as one  the Top 50 Venture Backed Companies.

“When our customers send money and pay with their bank account, Xoom will not charge them until their loved ones get their padala,” says Julian King, Xoom’s Senior Vice President of Marketing and Corporate Development.

POWR is available to qualifying Filipino remitters (https://www.xoom.com/POWR).  “With POWR, we show once again how Xoom is revolutionizing money transfers,” King adds.

Xoom has been doing business with the Filipino community for ten years and pioneered instant bank deposits to the Philippines.  POWR is Xoom’s latest product offering customers “peace of mind and reassurance.”

Earlier this year, Xoom introduced its Filipino customers to StatusTrak (https://www.xoom.com/how-to-track-your-transfer), an online tracking service that provides ways for people to track their transfer via SMS text messages, email updates and 24/7 phone support.

“Both POWR and StatusTrak provide very reassuring money transfer experiences with Xoom.” King added. Xoom promises “secure, fast and cost-effective transfers” through mobile phone, tablet or computer.

Last year, its 750,000 active customers sent more than $3.2 billion to family and friends in 30 countries. The company is headquartered in San Francisco (www.xoom.com).

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Tags: Banking , money transfers , online transactions , overseas workers , Remittances

  • http://pulse.yahoo.com/_APVOOWFOYEHTUWLLGXG3SDRTUE Rory Cruz

    Don’t believe this crap. Their customer support service sucks, and the process you have to go through are exhausting. They won’t even assist you. They’ll demand for your info as if you’re just trash. They won’t even ask politely. “Why are you asking too many questions? Just give me your bank account details.” <- That's exactly how they respond to your queries and obtain your info.

    • Nonong

      Tsaka mag-ingat kayo sa personal information nyo. I think its customer support for Philippine remittances is mainly in Manila (call centers). Nothing against most of our kababayans in Manila but not sure how they define and really “protect” privacy. Biro mo… di lang hihingiin SSN, driver’s license #, etc. kundi hihingi pa sila ng photocopies ng mga ito plus pay stubs. I think this is mainly kung medyo malaki na padala mo but still…

      Noong una maganda ang Xoom… been using it for a while with my bank account and transfers were accomplished in just minutes, with no issues. But recently they changed and my recipient had to wait 4-5 business days. And customer service were very unhelpful. Sa tingin ko marami naka-experience nito kaya pinagmayabang nila ngayon itong bagong offer (kuno) which was really an old practice. Not sure if I put my trust again on this company!

  • JobertR

    Read the fine print… there’s a catch! And you will never know in advance if you’re approved for this POWR (bait) offer or not… only after you click on “Authorize” (lol). And cancelling your transaction is not that quick and easy either. Been a Xoom customer for 2 years, left and will never go back using Xoom again. Customer service is horrible!

  • mangtom

    Your new service feature will surely attract customers. We are lured.

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