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2016 Moon Festival: A Time for Good Luck and Good Fortune

Digital Money Transfer Service, Xoom, Keeps Families Connected during Mid-Autumn Festival

Summer is officially over but that doesn’t mean an end to all the great festivals we have enjoyed over the last few months. The Mid-Autumn Festival or Moon Festival, as it’s commonly known, is a widely celebrated occasion for ethnic Chinese people, marking the end of the autumn harvest on the 15th day of the eighth lunar month (this year it falls on September 15th). This global celebration has special significance in China, Hong Kong, Macau and Taiwan where people get a day off of work during the holiday.

Today, the festival has become just as much about giving thanks for the harvest as it is about reconnecting and gathering with family and friends. Since the festival coincides with the harvest moon, when it’s at its brightest and roundest, family reunions and praying for good fortune are traditional pillars of the festival.

Not only is it customary to eat delicious Chinese pastries called mooncakes, but making and lighting lanterns and watching dancing dragon parade performances is also common. Most importantly, while in the company of close family and friends, many take advantage of making gestures to grant good fortune to themselves and their families. People gift family members with red envelopes or “lucky money” in hopes that it will bring luck and reunification.

With changes in technology, these red envelopes have taken on different digital forms for family and friends who don’t live nearby. In fact, the Chinese Moon Festival has become the second most popular time for Chinese immigrants to send money back to their families in China (next to Lunar New Year) to fulfill familial piety. Overall, China is the #2 country to receive remittances from the United States, and many digitally-connected immigrants are taking advantage of new tools to send money to loved ones quicker and safer than traditional brick and mortar methods.

Xoom, a leading digital money transfer provider and PayPal service, is enabling Chinese immigrants to send money to family during the Moon Festival to give them peace of mind that their well wishes for good luck and reunification are received. Xoom makes it easier and more secure for families in the United States to send money back home to loved ones with just a few clicks or swipes on a desktop computer or on a mobile phone. For many Chinese immigrants, using a service like Xoom allows them to send money to family and friends via a direct bank deposit. For loved ones receiving the money, this service cuts out the hassle of waiting in a long line outside a cash pick-up location and eliminates the risk of carrying large sums of cash in public. *

Sarah Wong, a business analyst and Xoom customer in San Jose, California, spoke to us about the benefits of using the service for her and her family. “After I got my first job in the U.S., I started to send money home to the Guangdong province every month.  I use Xoom services because the money arrives instantly** and my mom always gets a text message.  Xoom gives us a lot peace of mind and convenience.  I recommend Xoom to my friends in the U.S. who want to send money to China.  This Moon Festival will be the first time I won’t be with my parents.  I will buy some mooncakes and send lucky money home.”

“During this Moon Festival, Chinese customers don’t have to wait in long lines to send money home.  They can send money through Xoom in just a slide on their mobile phone, allowing them more time to enjoy with friends and family,” said Helen Li, Xoom Territory Manager for China.

Visit Xoom.com and discover for yourself how Xoom’s fast, secure and easy-to-use digital money transfer service is the best way to stay connected with loved ones during the Mid-Autumn festival, ensuring a lucky and prosperous year to come.

*For current FX rates, visit Xoom.com.

**Instant speed of service for transactions submitted 7 a.m. – 10 p.m. Beijing Standard Time and is subject to processing and China’s SAFE systems’ availability, good funds availability and approval by verification systems.

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