PayPal customers across Europe can also use bank accounts linked to their PayPal account to transfer funds in addition to the debit and credit card options available through Xoom. Existing PayPal customers can use their PayPal account to access Xoom’s services, making it even quicker and easier to send money abroad. A Xoom account can be set up in a few easy steps via the Xoom iOS or Android app or. Xoom customers can send up to €10,000 in a single transaction. With Xoom, someone with a smartphone on a bus in London, Paris or Berlin can send money that can be accessed quickly in Mumbai, Lagos or Nairobi to pay for a family member’s medical emergency or urgent financial needs.” 5Ī fast, convenient and secure way to support loved ones back home. We know how important these money transfers are in the lives of millions of people, and how crucial it is that money arrives swiftly so it can be used for things that matter. Even in 2019, it still takes too long to get money from European countries to a loved one in another country. We have moved beyond the days when the only option for sending money abroad was to queue at a counter for hours. The introduction of Xoom allows loved ones in these markets to receive money fast when sent to a bank account 4 at competitive rates.ĭan Schulman, PayPal’s CEO and President, said: “The way we move and manage our money has changed dramatically in the last few years. ![]() For example, according to the latest figures from the World Bank, almost half (45%) of all money transfers from the UK are sent to Nigeria, India, Pakistan, China and the Philippines, the five largest non-European receivers of remittances from the United Kingdom 3. Historically, the speed of securely and efficiently moving money across borders has been slow, but advances in digital technology-in particular mobile-are enabling a significant reduction in transfer time. With the launch of Xoom, millions of people across Europe including millions of PayPal customers, can now support family members overseas with their medical, education, utility bills, and other financial needs, at affordable costs. The global average cost of sending $200 remained high, at around 7 percent in the first quarter of 2019, according to the World Bank’s remittance prices worldwide database. In 2019, remittance flows to low- and middle-income countries are expected to reach $550 billion, to become their largest source of external financing. The global remittance market reached $689 billion in 2018, up from $633 billion in 2017 according to World Bank data 2. Xoom Launches in 32 Markets Across Europe (Photo: Business Wire) That answer made the man suspicious, and then he was sent nude photos and videos and his new Snapchat friend claimed to be an escort.To view this piece of content from, please give your consent at the top of this page. The Auckland man asked his correspondent for their home neighbourhood, and they replied “Auckland Domain”. ![]() He said he lived in Auckland, and then the Snapchat user claimed to be in the same city. Some Snapchat scammers are demanding gift cards in exchange for sex but have no intention of engaging in amorous antics and may not even live in the same country as the targets.Ī Snapchat user approached an Auckland man recently and struck up a conversation with him.Īccording to screenshots of the exchange, the person appeared to be an attractive woman and asked for his location. Victims of the sleazy scam are unlikely to get much sympathy - but the broader misuse of PayPal by con artists has concerned some experts. Photo / Getty Images, Herald montageĬatfish or robots posing as sex workers on social media are asking people to make “deposits” via PayPal. Racy liaisons arranged on social media may not eventuate into anything other than drained bank accounts and embarrassed victims.
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