Xoom.com, PNB set new milestone with cash pickup in minutes

Xoom.com and PNB set new milestone with cash pickup in minutes in the Philippines

San Francisco, CA, February 16, 2011 – Xoom.com, the fastest growing online money transfer company, is proud to announce a new cash pickup service available all at Philippine National Bank (PNB) branches, in addition to the bank deposit service within minutes to PNB accounts.

The inclusion of PNB branches boosts the strength of an ever-increasing Xoom.com network, which now stands at over 9,000 cash pickup locations in the Philippines.

Xoom.com and PNB offers this breakthrough to provide more convenient services by allowing cash pickup – in either pesos or dollars. Peso pickup is available at all branches, while dollar pickup is available at Metro Manila branches and key cities. All branches are open Monday to Friday, from 9 am to 5 pm while some branches are open until 6 pm and even on Saturdays. PNB has 324 branches strategically located nationwide.

“We are delighted to expand our partnership with Xoom.com to include cash pickup in minutes,” says PNB President and CEO Eugene S. Acevedo. “This new option provides clients a more convenient way of claiming remittances.”

“We want to make sure that our customers are equipped with as many cash pickup alternatives as possible to fit the needs of their beneficiaries,” said Xoom President and CEO John Kunze. “By providing cash pickup locations at PNB, we make Xoom money transfers more convenient for both senders and receivers.”

Xoom.com leverages PNB branches to provide top-notch money transfers. The tie-up guarantees customers efficient service coverage in both metro and rural areas. In addition, it ensures each remittance is opened via a convenient online transaction, and closed with the strength and backing of trusted financial institutions.

“We are very pleased with our partnership with PNB,” said Gene Gutierrez, Xoom.com Regional Vice-President for the Philippines. “Our goal is to provide a convenient, worry-free service for our kababayans. PNB and Xoom will continue to build on our partnership to achieve this goal.”

For more information about the Xoom.com money transfer service to the Philippines, visit the Xoom.com website or call 1-877-993-7966 for customer service in English or Tagalog. Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week by visiting the Xoom Customer Service Help Center.

About Philippine National Bank
The Philippine National Bank is one of the largest banks in the Philippines with a wide array of competitive banking products to answer the diverse needs of its huge clientele, which includes more than two million depositors. PNB commands a strong foothold in the remittance business with remittance centers in the US, Canada, United Kingdom, Spain, France, Germany, Austria, Italy, Hong Kong, Japan, Singapore, and the Middle East countries. It has the widest international presence among Philippine banks and also has one of the widest branch network in the Philippines.

About Xoom.com
Xoom.com enables individuals to send money from any Internet-enabled computer to family and friends. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. For more information on Xoom.com’s money transfer service to the Philippines, visit www.xoom.com/philippines.

Contact:
Ringo Macabenta
ringo@fuelcels.com