Cheap And Easy Way To Get Funds Here

[4thDan]

To the best of my knowledge, the $7.99 fee is up to $2999.00....and that is for a bank to bank not credit card to bank. I am not sure, to be honest with you, if you can transmit a higher amount occurring a higher fee. Heck I'm just a poor "Joe" trying to live, don't have that much to worry about. The kids back home take care of anything they think is excess. LOL

Don't mean to be argumentative...however, having called and talked and having also checked their web site...they assured me that i can transfer funds between banks even if both accounts are mine and it is NOT a violation of anti laundering laws.Further...my account here is a Dollar account so I can control when I change the dollars for pesos....just a little watching and planning ahead....soo in review....xoom for $7.99 per transaction to a total amount of $2,999, will send the $ from my bank in the US to BDO. takes up to 7 banking days..but when funds are received in BDO they are immediately available...it is all a dollar to dollar transaction there are no other fees or exchange rates involved.This is a new service which came on when Xoom and BDO partnered up....sorry Art...but that is the information I have at this time. Don't mean to rattle your feathers....

No feathers ruffled here, I don't have any problems with it! As you well know that policies change over time as you mentioned above I high lighted in red and at that time when I used their services when XOOM first came to be, such transactions weren't permitted or since they were new, their reps weren't all that knowledgeable of their own policies and procedures! The main thing is that you don't mind paying fees for transferring funds! XOOM has limits initially and takes awhile for them to increase one's limit of transfer after the 1st or 2nd attempt! Is that still the case with ZOOM? Can one transfer $5,000 to $10,000 from the beginning? My method of personal banking works for us and doesn't cost anything! Different strokes for different folks as I always say!

[Art2ro]

OK! Congratulations! ZOOM works!

[4thDan]

As a follow up:...used XOOM to move money from US bank to BDO...had choice of using bank to bank direct or bank to bank via credit card....the credit card method was faster though the fee was a bit higher...regardless end result....in less than 2 hours from the time of internet application to move said funds, they were on deposit and available at BDO...next month will be doing the bank to bank direct for which the fee is $7.99, but it will take 3 to 7 days for funds to make the trip. So yes it does work.....

OK! Congratulations! ZOOM works!

[Art2ro]

As a follow up:...used XOOM to move money from US bank to BDO...had choice of using bank to bank direct or bank to bank via credit card....the credit card method was faster though the fee was a bit higher...regardless end result....in less than 2 hours from the time of internet application to move said funds, they were on deposit and available at BDO...next month will be doing the bank to bank direct for which the fee is $7.99, but it will take 3 to 7 days for funds to make the trip. So yes it does work.....

OK! Congratulations! ZOOM works!

Anyway, what's $7.99 a month for a year? Only $96 (P4,218) a year! It won't hurt the piggy bank!

[Mr Lee]

As a follow up:...used XOOM to move money from US bank to BDO...had choice of using bank to bank direct or bank to bank via credit card....the credit card method was faster though the fee was a bit higher...regardless end result....in less than 2 hours from the time of internet application to move said funds, they were on deposit and available at BDO...next month will be doing the bank to bank direct for which the fee is $7.99, but it will take 3 to 7 days for funds to make the trip. So yes it does work.....

OK! Congratulations! ZOOM works!

Anyway, what's $7.99 a month for a year? Only $96 (P4,218) a year! It won't hurt the piggy bank!

I guess we could take that one step more and say what does it cost for 2 years or 5 years or 10 years or in my case over 17 years, yes it does add up and that is why I write US checks and deposit them, because I am frugal and would rather spend that extra money on a good dinner out, or give it to our family here. And besides all that, the topic title is cheap and easy and what can be cheaper than zero cost, and what can be easier than depositing a check. To me those are the easiest, but if others find Zoom or other ways easier for day to day life, or cost effective, then who am I to tell them to change. I would only use Zoom if no other way was available to me, and I have used my US Citbank ATM card here a few times in the past when unexpected things came up, but now I am prepared for most eventualities since I now have a reserve built up here.

[Art2ro]

Ditto Lee! We have had a "free banking system" with BPI, where I just write out USD checks for deposit for the past 10 yrs now, but it wasn't always like that in the beginning! Oh wasn't it ever! I think you all know what I mean! Just think what I could have saved at the beginning of our first few years in the Philippines of all those service fees I was charged just by wiring money or paying those service charges on our ATM and credit cards use here in the Philippines? We now know better today and we don't spend a dime on bank service charges anymore as long it's within our own local bank!

[intrepid]

I agree with Lee and Art on this one. With a little pre-planing, writing a check and and waiting for clearance after deposit does not get much easier and the no fee cost is about as good as it gets. That's what I'll be doing after settling there in a few years.However, for the many of us not yet living there and needing to transfer money to relatives because we cannot hand deliver it to them, Xoom appears to be the easiest and cheapest way I have found to send it. Yes, their exchange rate is just a little higher. But, their fee is lower than Western Union and Money Gram. I have a free checking account here in the US that I only use for money transfers and is registered with Xoom. I have never once experienced any problems. What I really like is I can do everything from a recliner in my living room. The money is usually ready to be picked up in a few hours at the most. What I have never been able to figure out is why Xoom does not debit my checking account until after the transaction is complete. Sometimes it takes Xoom two days after the recipient has picked up the money for them to debit my account. This sometimes can be close to $1,000 usd. I often wonder if they have ever experience someone closing an account after a transaction completed and before they were able to debit the account.By the way, I sent a transfer last night and noticed Xoom lowered their fee from $7.99 to $5.99dannyNo, I do not have any ties to Xoom. Just a happy customer. For now.

[Dave Hounddriver]

I agree with Lee and Art on this one. With a little pre-planing, writing a check and and waiting for clearance after deposit does not get much easier and the no fee cost is about as good as it gets. That's what I'll be doing after settling there in a few years.However, for the many of us not yet living there and needing to transfer money to relatives because we cannot hand deliver it to them, Xoom appears to be the easiest and cheapest way I have found to send it. Yes, their exchange rate is just a little higher. But, their fee is lower than Western Union and Money Gram. I have a free checking account here in the US that I only use for money transfers and is registered with Xoom. I have never once experienced any problems. What I really like is I can do everything from a recliner in my living room. The money is usually ready to be picked up in a few hours at the most. What I have never been able to figure out is why Xoom does not debit my checking account until after the transaction is complete. Sometimes it takes Xoom two days after the recipient has picked up the money for them to debit my account. This sometimes can be close to $1,000 usd. I often wonder if they have ever experience someone closing an account after a transaction completed and before they were able to debit the account.By the way, I sent a transfer last night and noticed Xoom lowered their fee from $7.99 to $5.99dannyNo, I do not have any ties to Xoom. Just a happy customer. For now.

I also agree that checks are great for many people here. I also used Xoom before they cut off non US customers and at that time it was great.For the info of those non US expats, you can open an account in Canadian dollars or many other currencies and deposit checks from your home country in that currency in the same way US expats can. The difficulty lies in getting the bank to give you hard cash in that currency. Americans have it easy because all the banks are willing to hand over US greenbacks but with my Canadian money the bank is very hard to get Canadian currency from. They will exchange it for me and give me pesos at the current back rate but it is always a little less than I can get using a forex company or even withdrawing cash from an ATM on my Canadian account (although the fees are excessive for that one)

[Garpo]

I agree with Lee and Art on this one. With a little pre-planing, writing a check and and waiting for clearance after deposit does not get much easier and the no fee cost is about as good as it gets. That's what I'll be doing after settling there in a few years.However, for the many of us not yet living there and needing to transfer money to relatives because we cannot hand deliver it to them, Xoom appears to be the easiest and cheapest way I have found to send it. Yes, their exchange rate is just a little higher. But, their fee is lower than Western Union and Money Gram. I have a free checking account here in the US that I only use for money transfers and is registered with Xoom. I have never once experienced any problems. What I really like is I can do everything from a recliner in my living room. The money is usually ready to be picked up in a few hours at the most. What I have never been able to figure out is why Xoom does not debit my checking account until after the transaction is complete. Sometimes it takes Xoom two days after the recipient has picked up the money for them to debit my account. This sometimes can be close to $1,000 usd. I often wonder if they have ever experience someone closing an account after a transaction completed and before they were able to debit the account.By the way, I sent a transfer last night and noticed Xoom lowered their fee from $7.99 to $5.99dannyNo, I do not have any ties to Xoom. Just a happy customer. For now.

I also agree that checks are great for many people here. I also used Xoom before they cut off non US customers and at that time it was great.For the info of those non US expats, you can open an account in Canadian dollars or many other currencies and deposit checks from your home country in that currency in the same way US expats can. The difficulty lies in getting the bank to give you hard cash in that currency. Americans have it easy because all the banks are willing to hand over US greenbacks but with my Canadian money the bank is very hard to get Canadian currency from. They will exchange it for me and give me pesos at the current back rate but it is always a little less than I can get using a forex company or even withdrawing cash from an ATM on my Canadian account (although the fees are excessive for that one)

I also just noticed that Xoom will only give you an exchange rate of a full one piso less than the quoted rate of exchange on forex.

[Call me bubba]

In trying to discover a means of getting funds from my bank in the US to my account here at BDO, I nimbly stumbled across this one and it works. Using Xoom, I have the money sent from the US account directly to the BDO account, but use the bank transfer method NOT the credit card method. You can move up to $2,999.00 for a fee of $7.99 PERIOD. Using the bank payment method means that there will be a delay of up to 7 banking days from the day you authorize til the arrival...however the funds are immediately available upon deposit at BDO. Just thought I'd share the info....

thanks, I have used Xoom on 2 times in the past year.

the exchange rate was fair, NOT POOR nor NOT GREAT .

For those who have use this service,

Any new feedback?

For those who use another service , Could you share

,so others(forum members) can know.