Consumer complaint received 2021-05-12
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Money was not available when promised — 
Company: XOOM CORPORATION (MD)

This is a formal complaint against Xoom a XXXX XXXXl money transfer service I make this complaint because of the blatant misrepresentation of their service and the time that I was told it would take for my money to become available to me. It is my belief that Xoom purposefully holds peoples money for extended periods of time so as to collect interest on those accrued funds. Example : If Xoom processes $ XXXX XXXX dollars that they say will take one hour to transfer and then holds that XXXX XXXX dollars for five days they will be collecting interest on that money. Money that is not theirs and in that time denying the rightful owner of that money their ability to collect interest on that money or to have use of those funds thereby potentially causing unjust hardship on the rightful owner of those funds or the rightful collection of interest of interest on those funds. 
I now will give account of my exact experience that gives cause to this complaint I initiated a transfer of funds from one of my accounts to another one of my accounts. Both of these accounts have been used and verified by Xoom in a previous money transfer/ The account I transferred from was exactly the same and the account I transferred to was exactly the same. The first time I used the Xoom service I gave leeway for what was a timeframe that extended beyond what I was told in the understanding that having to verify these accounts may be a legitimate course of action. 
I now give account of the second transaction that gives cause for my complaint. 
When you go on the Xoom website and start a money transfer you are given options on what they term Receiving Options, please see attached image to see these options. I chose the option Debit Card Deposit, this option offers the fastest service, that they say may take up to 30 minutes, and of course my expectation that my funds would be available to me within the timeframe that Xoom advertised and stated. After I completed the transaction I did not receive an email confirming the process, whenever I do any business online and don`t get an immediate conformation email, I always take a snippet image of the transaction number while still on the website, you can see that image also attached to this form. Also because I did not get an immediate email conformation and the funds had not shown up in the receiving account for this transfer I went back onto the Xoom website to assure myself that the process was successful. When I went back onto the Xoom website I was met with a notification that stating that there was a delay that may take up to three/3 days for my money transfer to complete. 
When I woke up next day I went to my emails and there was finally a transaction receipt however there was also a statement that this transaction was now expected to take six/6 days. 
As a final statement and to summarize, I assert that Xoom is intentionally unjustly delaying and holding funds as a practice so as to collect the interest on those funds. 
I have attached images as documentation of this process Please let me know if you need anything else