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Xoom Now Sends Cash from US to 3700 Bradesco Branches in Brazil

A Bradesco bank branch in Brazil A Bradesco bank branch in Brazil

A Bradesco bank branch in Brazil San-Francisco-based money transfer company Xoom Corporation announced that they have expanded their service in Brazil by adding cash pickup service at over 3700 Banco Bradesco branch locations through their partnership with Bancomer Transfer Services (BTS).

This new cash pickup service is in addition to the already existing Direct to Bank deposit service to any bank account in Brazil.

According to a company press release, money transfers to Brazil on Xoom.com are fee-free for transactions from US$ 475 to US$ 2500. For amounts under US$ 475 it costs US$ 5 to send the cash.

From now on Xoom customers should be able to send money to their beneficiary for cash pickup at any Banco Bradesco branch location or they can deposit the money directly to any bank account in Brazil.

There is a variety of ways to fund the transaction online, including a checking account, credit card, payroll card or PayPal.

The money is usually available to the beneficiary within 15 minutes of completing the transaction. The beneficiary does not have to have a bank account to pick up the money.

People can send money to Brazil online through Xoom.com by going to the website www.xoom.com/brazil.  They can get a free money transfer on their first transfer by using coupon code Envie.

Xoom was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
 
Bancomer Transfer Services, Inc. (BTS) is a non-bank subsidiary of BBVA Bancomer and is licensed for money transmission from the United States abroad. Provider of money transfer services since 1995, BTS is headquartered in Houston, Texas and currently provides service to Mexico, the Caribbean, Central and South America, Europe and Asia. BTS has the largest bank distribution in Latin America.

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  • Show Comments (16)

  • TSACGIV

    THE WIRE TRANSFER TAKE MORE THAN TWO WEEKS.
    IT IS VERY EXPENSIVE EITHER.
    I WANT TO KNOW HOW I CAN SEND MONEY FROM BRADESCO BRASIL(BRAZIL)TO
    USA WITH XOOM?

  • TSACGIV

    ALL AMERICAN IS NOT A GENUINE HUMAN BEING.
    I WANT TO KNOW HOW I CAN SEND MONEY FROM BRAZIL TO USA WITH XOOM.

  • Ric

    WHAT TO WATCH
    Watch the US banking lobby versus the citizen outcry against B of A and other banks who cater to illegals. The people want legislation now to close the loopholes. The lobbyists will fight it.

  • bo

    [quote]what is their spread on the transaction?
    written by floripasurfer, 2007-03-01 01:40:14

    “are fee-free for transactions from US$ 475 to US$ 2500”

    Although they are fee free it the spread on the transaction is likely to be greater than the bank rate for wire transfers and thus it may be more expensive than a wire transfer depending upon the exchange rate at which they convert the funds.

    When comparing different money transfer services it is important to compare the net amount received in the foreign currency since for larger amounts the exchange rate provided by different providers may have more of an effect on the net amount than relatively nominal base fees[/quote]

    That’s an excellent point floripasurfer, one I forgot to mention. With Western Union if the original currency being sent is in american dollars then one doesn’t get stiffed with the exchange rate, but if the original sending currency is something other than U.S. dollars WU sticks it to you on the exchange rate from that currency to dollars. WU only sends U.S. dollars, so when in england and sending a WU to anyone, they convert to dollars, send to destination, dollars converted to destination currency. They don’t rook you on the exchange from dollars to destination currency, they rook you on the exchange of sending currency to dollars.

    That’s with WU anyhow, but I’d be willing to wager that floripasurfer is right on the money about this one. Watch the exchange rate this company gives!!

  • Forrest Allen Brown

    what do they pay
    do they pay what the real is here , or there
    how much does bradesco charge on the other end .

    best way is to just get a bank card from your account in the USA and get it to brasil some how .

  • floripasurfer

    what is their spread on the transaction?
    “are fee-free for transactions from US$ 475 to US$ 2500”

    Although they are fee free it the spread on the transaction is likely to be greater than the bank rate for wire transfers and thus it may be more expensive than a wire transfer depending upon the exchange rate at which they convert the funds.

    When comparing different money transfer services it is important to compare the net amount received in the foreign currency since for larger amounts the exchange rate provided by different providers may have more of an effect on the net amount than relatively nominal base fees

  • u.s. law

    don,t bank on it pedro !!!
    this is a half assed attempt by this company to make some money from the illegal (brazilians) aliens in the u.s.a..,so it goes without saying that the brasilian gov. is complicit in the trafficking of illegals.,….by looking the other way… expect future sanctions against countries ,who continue to export criminal aliens…..brazil # 2 high violater….

  • paratrooper

    ME STUPIDO
    If you have a horror story (most have), after marrying a illegal alien ( so he or she or heshe could get a green card)…. please notify your nearist I.C.E. office……

  • u.s. capitalist

    a day late and a dollar short !!!!!!
    with illegal alien enforcements rising and laws being implemented to virtually make it impossible for them to drive, bank, or work… xoom or is it doom …, finds its plans illegal….

  • u.s. capitalist

    beancheek???? ..
    don,t want to bust your fantasy…. BUT 911 commission findings and implementations will render the T.P I. ,s no longer accepted … at every turn illegals will be unable to do anything but GO HOME…..Which is precisely what the majority of americans want…The noose tightens, …

  • u.s.a. # 1

    nice try B.O.A. but its illegal!!!!
    don,t send that money home yet if your illegal…. buy a plane ticket instead ….YOUR GOING HOME!!!!!!!!…….

  • all american

    TAINTED LOVE
    illegal alien green card whores… are finding their marriage frauds are being investigated…. knock knock who,s there?…I.C.E. I.C.E. baby…. coming to your neighborhood soon…..

  • bienchido

    “All American”, what ignorance is this about sending money home to “traffickers”? I send money to Brazil (I’m U.S. born and breed, by the way, married to a Brazilian) to pay for school fees, the light and water bill and other household expenses, just as the vast majority of Brazilians and Latin Americans are doing. Don’t hold your breath…not only has Bank of America offering a new money transfer service, the Federal Reserve Bank is starting one too.

  • all american

    the law
    bank of america offers services to illegals…a pilot program will be started in L.A., ..expect tighter regulations and reporting laws from this ignorant decision by B. O.A., as the citizens of the u.s.a. are insisting on an end to the illegal alien aiders and abbetors,…expect an end to the ability of illegal aliens to do any kind of financial transactions…sending money home to pay their traffickers in brazil is in jeopardy… todays news is tommorows disapointment…the noose tigtens…..

  • bienchido

    I’m going to try this service. If it works like the article says, it’s faster and cheaper than the service I’m using now to send money to Brazil.

  • bo

    [quote]The money is usually available to the beneficiary within 15 minutes of completing the transaction. The beneficiary does not have to have a bank account to pick up the money.[/quote]

    Well, let me start with the good news, there appears to be a new way to [b]receive[/b] money in brazil. Now the part that isn’t so “easy”. I’ll guarantee anyone that in order to pick up your money, or liquidate it, you will have to go to a bradesco that #1, has a “cambio”, or #2, go to your bank branch and fill out paperwork, your branch will then liquidate through a bradesco branch that has a cambio.

    I’m very familiar with international money transactions into, and out of, brazil. Banco Central regulates all such transactions through their agents, ie., BDB, Bradesco. This appears to be just like a western union only cheaper AND it appears that you can only RECEIVE in brazil, you cannot SEND. You see, brazil is scared to death of “capitol flight”, brazil only wants money coming TO brazil, not leaving it. Makes it kind of difficult to do business internationally, wouldn’t ya think?

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