Xoom, PayPal’s international money transfer service, today announced its US customers can now send up to $50,000 USD in a single transaction to over 30 countries around the world including Canada,India, France, Germany and the UK.US customers can now send larger money transfers with highly competitive exchange rates, helping them invest abroad, repatriate savings and provide financial support to loved ones across the globe.
“We’re excited to introduce even higher sending amounts to make it easy and convenient for our customersin the US to send large sums of money abroad,” said Julian King, Xoom’s Vice President and General Manager. “This new feature allows our users the freedom to send money to family back home to help pay for necessities like healthcare and education costs, or put money towards their future by investingor purchasing real estate abroad. With this update, Xoom is furthering its mission to provide customers with a fast, secure, and reliable way to send money across borders.”
“I’m proud to partner with a company that continuously innovates to deliver the best possible money transfer services to its customers,” said eight-time Olympic gold medalist and world record holder Usain Bolt, Xoom global brand ambassador. “By offering higher sending amounts to users in the US, Xoom is making it easier for people to help provide for their families, no matter how far they are from home, or invest in their own financial future.”
Established in 2001 and acquired by PayPal in 2015, Xoom is a fast and secure way to send money, pay bills and reload phones for loved ones in more than 130 countries globally. These remittances serve as lifeline for many people around the world and are used to pay for things like utility bills, healthcare, education costs and emergencies. The largely cash-based system of sending money across borders is full of paperwork, high fees, standing in line and an ever-present uncertainty of when, and if, the money will arrive when it’s needed. By providing fast and secure payment options for customers to seamlessly send money across borders by going online or using a mobile device, PayPal and Xoom are helping to expand and improve the financial health of millions of people worldwide.