Xoom service from Paypal: send money anywhere in the world at low cost (Review + Promo Code)

EDIT JANUARY 2020 : We’ve had several feedback suggesting that the Xoom service is unreliable and customer service is unresponsive. Feel free to comment on your experiences.

While waiting for a possible improvement of the service, we advise you to use the Azimo competitor service instead.

If you wish to register on Xoom, click on this referral link, you will receive 25 € after your first money transfer. Better than a coupon code!

In July 2019, Paypal launched the Xoom service in Europe.

This service makes it possible to send money anywhere in the world (in 130 different countries) at a lower cost.

For travelers, this service can be very interesting when you are in a country where it is difficult and / or expensive to withdraw money from ATMs as it is the case in Argentina or Chile.

You can indeed send money (to yourself) by paying in euros on Xoom and get cash in the local currency of the country where you are.

How do I register on Xoom?

If you already have a PayPal account, registration will only take two clicks since Xoom will retrieve your information from PayPal.

If you don’t have a PayPal account, you will have to fill out a small quick form (click on this referral link)

How does it work?

The operation is quite simple, you have to indicate how much money (in euros) you want to send. Indicate the coordinates of the recipient (who can be yourself). Then pay by credit card or with your Paypal account.

A few minutes later, the money is available and you can withdraw it by showing identification at one of Xoom’s partner cash points.

How much does it cost?

Like its competitors, Xoom earns its living by charging fees on two levels:

• Fixed fee for each transaction: currently €2.99
• A slight discrepancy between the exchange rate Xoom applies and the actual rate.

If we make a comparison starting with a transfer of 200 € (as of October 12, 2019).

• With the real exchange rate, you get ARS 12,817.69 back
• With Xoom, you recover 12,386.7 ARS (or 3.4% in fees)
• With Azimo, you recover 12,675.2 ARS (1.2% in fees)

Xoom is therefore more expensive than Azimo but it is still very interesting compared to the distributors’ fees which can exceed 10%. Especially since the maximum transfer is €10,000 (there is a margin!) while it is rarely possible to withdraw more than €150 from Argentinean distributors.

Note that it is in your best interest to send yourself the largest possible amount: the fixed fee of €2.99 will thus be diluted and you will get a better exchange rate when the amount transferred is higher.

Where can the money be withdrawn?

This is the huge advantage of Xoom over Azimo. Xoom is a partner of the Giros Express, Cobro Express and More Money Transfers agencies. Thanks to these partnerships, you can withdraw money with Xoom in Argentina in 795 counters in 24 regions and cities. This is absolutely colossal compared to Azimo which is present in only 7 cities in Argentina.

Buenos Aires; Capital Federal; Catamarca; Chaco; Chubut; Córdoba; Corrientes; Entre Ríos; Formosa; Jujuy; La Pampa; La Rioja; Mendoza; Misiones; Neuquén; Pacheco; Río Negro; Salta; San Juan; San Luis; Santa Cruz; Santa Fe; Santiago Del Estero; Tucumán

In Chile, Xoom is available in 16 regions and cities (compared to 0 for Azimo)

Antofagasta; Araucanía; Arica; Atacama; Aysén; Biobío; Coquimbo; Las Condes; Los Lagos; Maipu; Maule; O’Higgins; Rancagua; Santiago; Tarapaca; Valparaiso

Sponsorship : 25 € free

If you want to use Xoom for the first time, you can get a €25 gift that will be credited to you after your first transaction.

To get my sponsorship, just click on this link (the destination page does not necessarily mention the 25€ offered but the link works)