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Has anyone had good luck, or problems, using xoom.com to make payments?

In Canada, I can transfer money from my bank account to anyone else's in Canada via a simple email message. But it seems that most US banks don't do this.

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Many of the banks in the US are now associated with Zelle and you can transfer money to others through it with an email address or phone number. I´ve used it and works well.

https://www.zellepay.com/

Bank of America and CapitalOne 360 support it for transfers and I think many other banks too. From what I understand some banks use the service but call it something different.

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transferwise will work for you. You transfer from your Canadian bank to MX bank. You get the official exchange rate and pay 1% fee. We use it every month. 

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Thanks. I am looking at that now. I like the concept. A US to Canada transfer does not automatically include a bonus for the exchange rate; for example, a $500 US transfer to Canada costs only $5 US, or 1%.

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30 minutes ago, michael2595 said:

How long does the transfer take and are you notified?

The option we choose is about 6 days when transferring from Canada BMO to Mexico Bancomer and yes on their web site you may follow the process. Plus an email to recipient when done.  

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Check out WorldRemit for transferring money from any USA or Canada bank to Mexico. Competitive rates and $3.99 per transfer.  Transfer takes less than one hour to complete.  We use WorldRemit a couple of times per month.  They work with a limited number of banks in Mexico but Bancomer is one.

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Many not happy with worldremit. They kept asking for bank statements, source of funds, ID. Every time tried to transfer more that $1000 C more hassles. They want smaller transfers to collect the $3.99. Their exchange is less. Compare a transfer on both and transferwise is always less. Check here: https://www.monito.com There is significant difference between worldremit and transferwise.

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www.monito.com shows transfer fees for first time users at zero so it it hard to compare.  Transfer fees range from $3.99 to $14.99 and more.  You can't just use exchange rate.

I have never had Worldremit ask for bank statements or any information but I have never transferred  more then $500 CDN.    

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9 hours ago, Michael Turner said:

www.monito.com shows transfer fees for first time users at zero so it it hard to compare.  Transfer fees range from $3.99 to $14.99 and more.  You can't just use exchange rate.

I have never had Worldremit ask for bank statements or any information but I have never transferred  more then $500 CDN.    

Go to worldremit and transferwise. In each case select to transfer $500 Canadian. Transfer wise is cheaper. Do the same with any amount. Transferwise is cheaper. On monito same thing worldremit is more even when a one time 0 fee and 3.99 rest of time. 

Of course you can use exchange rate as it is usually the biggest and most important variable.

 

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I recently received a notice from my Chase bank that I can make transfers to any other US bank or internationally with no fees. It did not mention any amounts that could be transferred so maybe a limit. Canadian Email transfers have a limit of 1200 $Cdn.

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Most of the money transfer services that say "no fees" get their fees by giving an unfavorable exchange rate. I have checked into a lot of them and what I have found is that "free" usually costs a lot more than paying a fee somewhere else.   I am not saying Chase is doing this, but it is worth checking their international rates before using the "free" service. 

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1 hour ago, Karl Crabkiller said:

I have used XOOM to pay bills (CFE - Telcel - Telmex) with no issues. There is a small fee for the service. For bank transfers there are better options depending on the amounts sent and speed of transfer...

I transfer from a US bank to a MX bank in usually 24 hours using Xoom and it charges a fee of $3.95.  I've used Transferwise and several others. With Transferwise fee and exchange rate it is higher and takes several days longer. Xoom is the fastest and cheapest. Why do you think it is not a good choice?

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9 hours ago, Joco said:

I transfer from a US bank to a MX bank in usually 24 hours using Xoom and it charges a fee of $3.95.  I've used Transferwise and several others. With Transferwise fee and exchange rate it is higher and takes several days longer. Xoom is the fastest and cheapest. Why do you think it is not a good choice?

Transferwise gives the posted exchange rate which can make a big difference and has an option for a faster transfer. Xoom is not available to Canadians and where the depsoit can be picked up is not as convenient as transferring from any bank to any bank in Mexico.. 

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54 minutes ago, Sonia said:

Transferwise gives the posted exchange rate which can make a big difference and has an option for a faster transfer. Xoom is not available to Canadians and where the depsoit can be picked up is not as convenient as transferring from any bank to any bank in Mexico.. 

Transferwise lost or delayed a transfer several times so I stopped using it. Xoom transfers from my US bank to my MX bank in a day. Maybe it might $2 USD more but the money gets to my MX bank faster. Transferwise sent an email this week that its fees are rising. Its fee was higher than Xoom to start with. I no longer trust Transferwise. It is trying to raise money and is run between the UK and Estonia. 

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Just transferred $1100 Canadian form Bank of Montreal to Bancomer. The exchange rate was 15.15641 and the fee was 10.89 Canadian. That is the exact exchange rate as posted on XE.com at time of transfer. I could have selected next day transfer with transferwise using a debit card.

On worldremit I would get 16,173 and transferwise it was 16,507. 

https://www.monito.com/send-money/united-states/mexico/usd/mxn/1000?mail

 

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  • 3 weeks later...
On ‎1‎/‎24‎/‎2018 at 11:40 AM, ComputerGuy said:

Has anyone had good luck, or problems, using xoom.com to make payments?

In Canada, I can transfer money from my bank account to anyone else's in Canada via a simple email message. But it seems that most US banks don't do this.

I used Xoom when I was in US early this month to pay TelMex.  Xoom is associated with/owned by PayPal.  It wasn't cheap (bad exchange rate, 3 USD fee), but came in handy.  Their software located both my TelMex and CFE accounts quickly.  Showed the right amount due for TelMex (didn't require me to tell them what was due...they told me and it was correct amount).  

The payment was shown on Mi TelMex almost immediately. 

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  • 2 weeks later...

we used xoom for years to get money every month from our U.S. bank to walmart here in mexico or you can have it sent to Elektra or a bank here.  Walmart is great as they have a higher limit or elektra....the banks have too much red tape and long lines.  Anyway, we switched to REMITLY recently because they usually have a better exchange rate.  It has worked great for us.  That is how we pay bills and buy groceries because using a debit card always charges us and international fee

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  • 3 weeks later...
On 1/24/2018 at 11:40 AM, ComputerGuy said:

Has anyone had good luck, or problems, using xoom.com to make payments?

In Canada, I can transfer money from my bank account to anyone else's in Canada via a simple email message. But it seems that most US banks don't do this.

There has been several methods mentioned. What is your advise in my case?  I only needed to transfer money from a full service credit union in the US to a bank in Mexico.  The last transfer we did was by check to my wife's sister, who works at the bank.  Xoom.com has a lower fee and shorter processing time when we used the check method. 

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IN the end, I never had to use any service, but it is all good info for the future. It takes me about a minute to email a transfer from my Canadian bank to any Canadian bank account, without ever knowing the recipient's banking info, and costs a buck. I don't know why US banks don't do this. Must be a profit thing.

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1 hour ago, ComputerGuy said:

IN the end, I never had to use any service, but it is all good info for the future. It takes me about a minute to email a transfer from my Canadian bank to any Canadian bank account, without ever knowing the recipient's banking info, and costs a buck. I don't know why US banks don't do this. Must be a profit thing.

Patriot Act, serious changesto bank security and other invasive regulations, and the urge to make profit. Money laundering has become a big issue..Example, Bank of America will first charge you a one time 19.95 USD to get a special double verification number and then you can do that type of transfer and others. 

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