Xoom.com Revolutionizes Wire Transfer Speed to the United Kingdom

Fast-growing money transfer company Xoom.com launches innovative new wire transfer service, conveniently providing delivery to most United Kingdom bank accounts in less than an hour

SAN FRANCISCO, CA, January 18, 2011 - Xoom Corporation, the fastest growing online money transfer company serving 32 countries, announced today the launch of a faster and more efficient wire transfer service to the United Kingdom (UK). With the new service, Xoom customers can now transfer funds in less than an hour, as opposed to the standard one to two business days, to most bank accounts in the UK.

The new UK service is more efficient because of its speed, reliability, and highly competitive transfer fees. Some of the key features included in the service are:
  • Faster Service: Funds are available to the recipient’s account in the UK in less than an hour. Transactions submitted after 11 pm GMT will be posted by 4 am GMT the next business day.
  • Reliable Service: Expedient transfers are secure and reliable. The service covers 17 banks in the UK representing 95% of payment transactions.
  • Low Transfer Fees: Transfer fees are just $4.99 per transaction when sending up to $2,999 and when funded from US banks.
  • 24/7 Transactions: Customers can make transactions any time they want, 24/7, from their computers or internet enabled mobile phone.
“With the launch of our new service to the UK, our customers now have an even faster way to wire money to the UK—any time from the convenience of their desktops,” said Julian King, Senior Vice President of Marketing and Business Development for Xoom. “We look forward to providing this service to our loyal customer base who have come to trust our brand as the most cost-effective and convenient money transfer service in the industry."

Among the 17 total UK banks participating in the service are Santander (formerly Abbey and Alliance&Leicester), Bank of Scotland, Barclays, Clydesdale, Co-Operative Bank, Coutts, First Direct, Halifax, HSBC, Lloyds TSB, Natwest Bank, Northern Bank, Northern Rock, Royal Bank of Scotland, Smile, Ulster Bank and Yorkshire Bank.

As an additional feature and convenience for the customers, Xoom has recently introduced a feature to schedule transactions for later dates or set up recurring money transfers. There are many expats who need to transfer money to their UK accounts on a regular basis, in order to manage expenses or pay bills occurring in their home country.  The scheduled transaction feature will allow them to save time, while also ensuring their expenses are always properly handled.

This announcement continues to build on the momentum Xoom has achieved recently, and solidifies its presence as the fastest growing online money transfer service to expats living in the US. Over the past 2 years, the company has almost doubled its customer base and expanded its international portfolio to cater to 32 countries throughout the world.

For more information on Xoom, including partner information and registration instructions, please visit http://www.xoom.com/.

About Xoom.com

Xoom.com is a global online money transfer company that enables individuals to send money from any Internet-enabled computer to family, friends and businesses in 32 countries around the world. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. For more information on Xoom.com money transfer service to the United Kingdom, visit www.xoom.com/UnitedKingdom.