Consumer complaint received 2016-08-13
Product: Money transfers — International money transfer
Issue: Incorrect/missing disclosures or info — 
Company: XOOM CORPORATION (TX)

On XXXX XXXX, XXXX, I sent money from my checking account ( XXXX Bank, XXXX, Texas ) to an XXXX bank account using the website Xoom.com. The money got deposited in the XXXX bank account alright, but it supposedly got rejected by my American account ( the aforementioned XXXX XXXX account ). 

Now Xoom.com is threatening me with legal steps if I do n't pay the entire amount ( approx. XXXX XXXX dollars ) to them IMMEDIATELY. 

But 1. I do n't have ( like I LITERALLY do n't have ) XXXX XXXX dollars right now, even if someone holds a XXXX to my head or something! 


2. I 've explicitly told Xoom ( in writing ) that I fully intend to pay back the entire amount to them ASAP. But the best I can do is pay it in monthly installments of {$300.00} or {$400.00} ( at most ). But Xoom rejected my proposal and is continuing to harass me. 


3. Since the transactions had perfectly gone through at that point of time ( on XXXX XXXX, XXXX ), I had naturally assumed that everything was settled, Xoom and I were good, and there was nothing else to take care of. I thus planned my finances accordingly and made other expenditures thereafter. 

Now if Xoom suddenly comes knocking on my door, how am I supposed to conjure the money out of thin air?! Especially when the amount is equal to five entire months ' worth of my ENTIRE salary!!! 


4. During the original transactions on XXXX XXXX, XXXX, if the money had n't indeed cleared from the source account ( my XXXX XXXX account ), how the XXXX did it land up in the destination account ( the XXXX recipient account )?? Is n't Xoom itself supposed to ensure that nothing of this sort happens?! If Xoom did n't have the money from the customer ( myself in this case ) to begin with, then why did n't it decline the transaction in the first place??!!! I mean, like, any online merchant would do if you try to make a purchase with your credit card that will result in your credit limit being exceeded?!! Such declined transactions take place all the time, are n't they?!! Then why did n't Xoom do itself and me the favor of declining the transactions for which it 's now harassing me?!! 

I mean, if an ordinary citizen has to keep track of all the mundane arithmetic related to his/her finances, then what 're the banks / financial institutions there for?! To rip money off the ordinary citizen and to make the economy come crashing down ( like in XXXX ) from time to time? 


5. I 'm a XXXX living on my XXXX of XXXX XXXX dollars per month. {$300.00} or {$400.00} per month is the maximum amount I can spare to pay off the supposed " debt '' or whatever it 's called by Xoom. I 'm an honest, conscientious, industrious ( I have a GPA of XXXX at school as well as XXXX ) person. I do n't want to be living with a debt either, but I ca n't come up with money that I do n't have ( that is, the money that I do n't earn in this first place! ) I 'm sticking with my assurance to Xoom that I 'll pay back the entire amount as soon as I can, but if it continues to hold a XXXX to my head ( figuratively speaking ), I 'd LITERALLY have to XXXX.