DO YOU need to send money to Bangladesh? Now there’s a new way to do it – quickly and easily. With Xoom your cash will be zooming over to Bangladesh in minutes!
PayPal is well known as a safe pair of hands when it comes to paying for goods online or sending money to relatives. But behind the scenes the company has been looking into how to make the system more versatile.
Xoom is the result: an international money transfer service launched by PayPal and operating in over 130 countries across the globe. This month PayPal launched Xoom in 32 European countries – including the UK.
The World Bank estimates that people living in the UK send around $26 billion to Bangladesh every year. Some of the money is simply transferred between relatives, but people of Bangladeshi origin living in the UK will also pay bills for friends and relatives “back home”.
People in the UK should be able to send money to bank accounts with the Social Islami Bank within seconds, while transfers to Sonali Bank accounts should be accomplished within two hours. Transfers to accounts with other banks should take no longer than two working days.
In addition to making transfers to bank accounts, UK residents can send money to over 6,000 locations in Bangladesh where it can be collected in cash within minutes. There’s also a facility to allow UK residents to pay phone bills held in Bangladesh.
Julian King, Xoom’s Vice President and General Manager, said: “We have moved beyond the days when the only option for sending money home to Bangladesh was to queue at a counter for hours. But even in 2019, it still takes too long to get money from the United Kingdom to a loved one in another country.
“With Xoom, someone with a smartphone on a bus in London can send money that can be accessed within minutes in Chittagong or Barishal to pay for a family member’s medical emergency or buy books for the new school year.”
•You can use your PayPal account to access Xoom. Alternatively, set up your Xoom account in a few easy steps by downloading Xoom’s iOS or Android app or go to: Xoom
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