Misleading Xoom Exchange Costs Hurt My Money Transfer
Although the exchange rate provided was advertised as 1 USD = 0.9001 EUR, the actual amount received fell far below expectations. When I transferred $1,000, I noticed that the receiving amount was only 900.10 EUR. They showed me that their main money source was the exchange along with the transaction fee, but the difference was much bigger than I expected, would have been helpful if the extra charges for the transaction were clearly communicated in advance. found it misleading that there wasn't clear transparency about the total cost of the service. Only after I finished the transaction did I realise the excessive amount I was being charged on top of the basic conversion, I’m feeling misled as the exchange rates that ended up significantly reducing the amount of money my recipient received… I can’t say I’m thrilled.
