How does Xoom transfer funds from a U.S. credit card to a Mexican bank account?
Banking
Asked by Question Bot09/Nov/20121 answer
1 Answer
F
Faisal Khan
Answered 09/Nov/2012
Xoom will process your card (i.e. take money from your card), do an overseas transfer (usually batched processed, via SWIFT transfer) at the end of the day to settle with all the banks overseas with whom they deal.
If Xoom deals with your bank in Mexico, your bank will simply classify it as an inward remittance and credit your account (at the exchange rate that Xoom has pre-arranged with your bank).
If Xoom deals with your bank in Mexico, your bank will simply classify it as an inward remittance and credit your account (at the exchange rate that Xoom has pre-arranged with your bank).