Xoom expands reach in Africa with instant bank transfers in Nigeria

March 15, 2016 • Mobile and Telecoms, Top Stories, West Africa

Xoom expands reach in Africa.

Xoom expands reach in Africa.

Xoom, a digital money transfer provider, has revealed that it will be expanding its services in Africa. The company revealed that the move will essentially allow individuals in the United States to send money to Nigeria via a mobile phone, tablet or computer.

According to the company, this expansion includes an instant bank deposit service to any Nigerian Naira account, which includes First Bank Nigeria, Guaranty Trust Bank, Zenith Bank and more. Xoom’s service will allow Nigerian immigrants in the U.S. to send money to bank accounts in Nigeria with their U.S. bank accounts, credit cards, or debit cards.

“At Xoom, our goal is to make sending money around the world easier, more convenient and faster. That’s why we’re excited to extend Xoom’s services into Nigeria,” said Julian King, Senior Vice President of Marketing and Corporate Development, Xoom. “According to the World Bank, $5.7 billion is being sent to Nigeria annually from the U.S. With Xoom, users can now send money from their mobile phones in a few clicks and instantly deposit money into their loved ones’ bank accounts in Nigeria. No more waiting in lines at the bank to wire money or at a cash pick-up center.”

The company further revealed that all customers require is their recipient’s bank account number, and Xoom will transfer funds to banks in Nigeria. Individuals can send up to $2,999 for just $4.99 when paying with their bank account.

Xoom provides locked-in exchange rates on Naira (NGN) deposits to Nigeria and a secure and convenient way for immigrants to send money from their computer, tablet, or mobile phone. Customers can download Xoom’s app for Android and iOS mobile devices for free.

Staff Writer



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