Xoom launches digital funds transfer service in China

Xoom, a digital money transfer provider, today announced the launch of its money transfer service to China. This instant bank deposit service enables Chinese immigrants with a U.S. bank account, credit card, or debit card to send money online to most bank accounts in China within seconds. With the addition of China, Xoom's money transfer service now reaches 31 countries worldwide, according to a press release.

Xoom provides locked-in exchange rates on renminbi deposits to China and a secure and convenient way for Chinese immigrants to send money from their computer, tablet, or mobile phone, the release said. Customers can download Xoom's app for Android and iOS mobile devices for free.