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Xoom.com Launches Innovative Dollar-to-Dollar Service to the Philippines

Send up to $1,000 for only $7.99 for US dollar payout

SAN FRANCISCO, October 1, 2010 – Online money transfer company Xoom.com today announced a new dollar-to-dollar service to the Philippines. Dollar payout is available for cash pickup and bank deposit. Transaction fees for dollar payout have also been lowered, so customers can now send up to $1,000 for just $7.99 when paying with a US bank account.

“We want our customers to know that they’re getting the best value when they use Xoom.com,” said Xoom.com CEO John Kunze. “It’s why we’re always developing newer and better services and innovating on the products we have.”

Dollar cash pickup is available within minutes of sending at thousands of locations including banks, pawnshops and malls. Dollar-to-dollar pickup is available at  Banco de Oro (BDO), SM Malls, M. Lhuillier pawnshops,  SM Forex (YES Currency Exchange Counters),  One Network Bank, Bangko Kababayan, Zambales Rural Bank and Card Bank. For more added convenience, many of these cash pickup locations are open 24 hours a day, seven days a week. 

Dollar-to-dollar payout is also available for bank deposits . Fast deposits are available in all banks in the Philippines – within minutes at Banco DE Oro (BDO) and Philippine National Bank (PNB) and within hours at Bank of the Philippine Islands (BPI) and Metrobank. 

“Our new dollar-to-dollar service is even more convenient than before,” said Gene Gutierrez, Xoom Corporation Regional Vice President. “Coupled with our competitive pricing, this gives our customers a great combination of convenience and affordability. Our dollar-to-dollar service is the best value around.”

For more information about Xoom.com money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in English or Tagalog. Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week by visiting the Xoom Customer Service Help Center.

About Xoom.com

Xoom.com enables individuals to send money from any Internet-enabled computer to family and friends. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. Learn more about the Xoom.com money transfer service to the Philippines.

The speed of transaction claim is dependent on good funds availability and approval by the Xoom proprietary verification system. It is subject to Xoom receiving agent hours of operation and difference in time zone, and may not be available for all transactions.