Xoom is one of the easiest services for money transfer to Eritrea. Even if your recipient has no bank account, you can send the money to cash pickup in locations throughout the country.
Pros and Cons of Using Xoom’s Money Transfer to Eritrea
There are many benefits of using Xoom for Eritrea money transfer. The service has no hidden fees. You are able to know how much you will be charged before sending the money. If your recipient does not have a bank account, you can send cash to be picked up from a local partner. Moreover, your money is safe because of Xoom’s money-back guarantee policy.
However, there are drawbacks as well. Xoom makes money from exchange rate by adding a mark up to the current market rate. Therefore, your recipient in Eritrea ends up receiving less money. Finally, you can only send money online using your bank or credit/debit card. There are no physical Xoom locations for sending money.
Money Transfer to Eritrea With Xoom: How It Works
For Eritrea money transfer with Xoom, you have the following options to create your free account. You can sign up on Xoom website or you can download Xoom app, Android or iOS. Xoom is owned by PayPal, which means if you have a PayPal account you can login with your PayPal credentials.
How to Pay for Xoom Money Transfer
To transfer money to Eritrea, Xoom has three payment methods, namely bank account, credit/debit card, and PayPal.
How to Receive Xoom Money Transfer in Eritrea
When you transfer money to Eritrea with Xoom, your recipient will receive the money in a bank account or cash from Xoom local partner, Himbol Financial Services Eritrea. There are 14 locations in Eritrea for Himbol Financial Services.
How Much Money Can I Send to Eritrea With Xoom
Xoom transfer limits are on three levels. The limits depend on:
- Where you live
- How the money is received
- Partner limits. Xoom partner for cash pick up locations in Eritrea is Himbol Financial Services
How Fast is Xoom Money Transfer?
Money transfer to Eritrea through the cash pickup method is usually instant. If you send via a bank account, the time it takes for the money to reflect in the recipient’s account varies. For example, if you send over a certain amount of money in a single transaction or within a 24-hour period, Xoom will first wait to receive the funds from your bank before making the transfer to Eritrea. This process may take 2-3 business days if you send before 4 PM PT.
Fees and Exchange Rate for Xoom Money Transfer
Xoom fees vary depending on factors such as payment method, receiving method, what currency you pay with, amount, and country of destination. For example, if you send $200 to Eritrea using PayPal or a bank account, you will pay $4.99 tranfer fee and if you use a debit/credit card you will pay $5.99 transfer fee. Xoom’s markups on exchange rate is between 1% to 3% above the mid-market rate.
Which Countries is Xoom Available
You can send money to Eritrea from the UK, the United States, Canada, and Europe.
Xoom offers customer service in the following languages: English, Spanish, Filipino, French, Italian, German, Vietnamese, Chinese and Arabic. Xoom website is available in English, Portuguese, French, Spanish, German, Italian, Dutch, Polish, Romanian, Russian, Hungarian, Korean, Chinese, and Vietnamese.
Xoom has a score of 4.6/5 from over 21,000 reviews on Trustpilot. 89% of customers considered Xoom money transfer service excellent. However, 5% of its customers thought the services was bad.
Final Thoughts on Xoom Money Transfer to Ethiopia
Sending money to Eritrea with Xoom is easy and safe. If you are intending on sending money to your loved ones in Eritrea, you should also read our reviews of other services for Eritrea money transfer.