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Why Sending Money Home Is One of the World's Most Powerful Economic Forces

Why Sending Money Home Is One of the World's Most Powerful Economic Forces

Discover how remittances to India, Mexico, and the Philippines shape economies and families. Learn why nearly $700B flows across borders each year and how Xoom helps¹.

Venkat PullelaSep 11, 2026
⏱ 1 min

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Does the 1% Federal US Remittance Tax Apply to Xoom Transfers?

Does the 1% Federal US Remittance Tax Apply to Xoom Transfers?

Currently, Xoom transfers are not subject to the 1% US federal remittance tax on outbound transfers from the United States. Here’s why Xoom is exempt.

⏱ 1 min
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* Transactions may be delayed or cancelled for compliance purposes and in accordance with the Xoom User Agreement. Service availability and fees vary by country, features selected and other factors. Individual and aggregate transaction limits may also apply. In addition to transaction fees, Xoom makes money when it changes your send currency into a different currency.

Funds will be delivered by the date listed on your transaction receipt and frequently within minutes. Funds delivery and your recipient's ability to receive funds may take longer than minutes due to factors such as good-funds availability, compliance and transaction reviews, systems availability, partner hours/time zones, and local holidays.

For residents of Australia, the Xoom service is provided by PayPal Australia Pty Limited (ABN 93 111 195 389) which holds Australian Financial Services License number 304962. Any information provided is general only and does not take into account your objectives, financial situation or needs. Please read and consider the Combined Financial Services Guide and Product Disclosure Statement before acquiring or using the service.

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