Xoom.com, the fastest-growing online money transfer company, today announced the launch of their Bank Deposit service to Banco Cuscatlan, Banco Uno, now Citibank, in El Salvador, Guatemala, Honduras, Nicaragua, Panama and Costa Rica.
Consumers can now use their home computer to send money to the bank accounts of their loved ones in Central America. Xoom.com electronically debits the sender's U.S.
bank account and credits the recipient's bank account in less than fifteen minutes.
"We recognize that consumers are searching for more convenient and secure ways to send money to their loved ones in Central America and Xoom's online Bank Deposit service meets these needs," said Julian King, Xoom SVP of Marketing and Corporate Development.
"We are excited to offer this convenient service to the Central American community in the United States through our affiliation with Xoom.com, an innovative company that facilitates on-line money transfers safely. In Banco Cuscatlan and Banco Uno (recently acquired by Citibank) we pride ourselves in offering our extensive network to all the beneficiaries of family remittances," said Jose Eduardo Luna, Head of Citibank Products in Central America.
With Xoom.com's Bank Deposit service, money sent directly to a bank account in El Salvador, Guatemala, Honduras, Nicaragua, Panama or Costa Rica during business hours usually arrives in 15 minutes.
In addition to Bank Deposit, Xoom customers can send money to their beneficiary for Cash Pickup at more than 1,800 locations throughout Central America, including Remesas Familiares Cuscatlan, Aval, BAC Credomatic, Banco Ficohsa, Banco Agromercantil and other trusted local partners.
Customers can send money to Central America starting at just $2.99* and can choose from a variety of ways to fund the transaction online, including a U.S. checking account, a credit card or with a PayPal account.
*Xoom makes money on transactions involving foreign currency exchange.