SAN FRANCISCO--(BUSINESS WIRE)--Xoom, a leading digital money transfer provider, today announced the launch of its money transfer service to Bangladesh in collaboration with Social Islami Bank Ltd.).
Consumers can instantly deposit money into SIBL accounts 24/7/365. Deposits to other banks, including Islami Bank Bangladesh, Sonali Bank, BRAC bank, and more, usually arrive in two days when sent during Bangladesh banking hours.
“We aim to give consumers the best money transfer service — hands down,” said Julian King, Xoom’s Vice President of Marketing and Business Development. “Bangladeshis in the U.S. can now skip lines at agent locations, save on fees, and send money in seconds, from home or on the go. Our intuitive online and mobile platforms make it so easy.”
With the launch of Bangladesh, Xoom’s global reach now stretches to 40 countries. Xoom makes it secure and convenient for busy, hardworking consumers to send money from their mobile phone, tablet or computer. When paying with a bank account, consumers can send up to $1,000 for just $4.99 and transfers over $1,000 are fee-free.
“Social Islami Bank Ltd. is committed to providing Bangladeshis in the U.S. with a better way to send money home,” said Mr. Md. Shafiqur Rahman, Managing Director at SIBL. “Through our collaboration with Xoom, we fulfill our commitment to immigrants in the U.S. while better serving our customers here in Bangladesh.”
Mr. A. M. M Farhad, Deputy Managing Director at SIBL, added, “SIBL is dedicated to customer satisfaction and will give the highest priority to every Xoom transaction. We’ll monitor every Xoom transaction to make sure it reaches the recipient’s account as quickly as possible.”
In addition to fast service and affordable fees, consumers can rely on Xoom’s money-back guarantee and 24/7 customer service — calls are usually answered in 20 seconds or less. Consumers can also download Xoom’s app for Android and iOS to send money anytime, anywhere. For more information, visit www.xoom.com/bangladesh.
About Xoom
Xoom, a PayPal service, is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. The company can be found online at www.xoom.com.
About Social Islami Bank Ltd
Social Islami Bank Ltd. (SIBL) is one of the leading private commercial banks in Bangladesh focused on remittance business. Operating since November 22, 1995 the bank has a full-fledged commercial banking operation and has a good client base across the country with 108 branches nationwide. For remittance sourcing, SIBL has remittance drawing arrangement with almost all the renowned money transfer companies across the globe. SIBL has a smooth remittance disbursement channel for disbursing the remittance proceeds to ultimate beneficiary throughout the country within shortest possible time. All the 108 branches of the bank are connected online through Centralized Core Banking Software and are able to pay cash to the beneficiary or credit beneficiary account instantly. Further, the bank has arrangement for account payment at any branch of any bank in Bangladesh through RTGS (Real Time Gross Settlement) platform integrated with Central Bank’s RTGS payment system, BACPS (Bangladesh Automated Cheque Clearing Systems) and BEFTN (Bangladesh Electronic Fund Transfer Network). SIBL adds values to all transactions that it process through its time awareness customization and technology bias. Bangladeshi Nationals working abroad can easily remit their hard earned money to the intended beneficiaries in Bangladesh. SIBL is committed to provide best in class and hassle free service. In the year 2014 SIBL’s remittance figure triggered 207% growth over 2013. More information on SIBL can be checked at www.siblbd.com.