SAN FRANCISCO, April 21 /PRNewswire/ -- Xoom Corporation, the
Internet-based global money transfer company, announced yesterday a
partnership with Grupo Bancolombia, one of the oldest and the largest banks
in Colombia. The agreement with Bancolombia, effective yesterday, will
provide the beneficiaries of Xoom's customers with faster access to money
and more locations for receiving money in Colombia. The partnership expands
Xoom's cash disbursement network to include Bancolombia branch locations
and increases the speed of bank deposit service to just minutes.

    This partnership supports Xoom's comprehensive corporate initiative to
serve the rapidly growing, online Latino consumer by providing an
alternative money-transfer option that is fast, easy, convenient and low
cost. Xoom's money transfer service, created in 2001, allows customers to
send money to 42 countries around the world, including Colombia, from any
Internet-enabled computer using a checking account or credit card to fund
the transaction. When paying with a checking account, the cost starts at
US$2.99. There is a daily transfer limit of US$2,999.

    This partnership with Bancolombia augments Xoom's existing
relationships in Colombia with Bancomer Transfer Service (BTS), which
provides cash disbursement at BBVA Colombia and Davivienda; and with MORE
Money Transfers (MMT), which provides bank deposits to any bank in Colombia
and cash disbursement through Pagos Internacionales.

    "We now have one of the most robust networks in all of Colombia that
includes bank deposit to any bank account in Colombia, and in minutes to a
Bancolombia account," said Eugenio Nigro, vice president of business
development, Latin America, for Xoom. "With Bancolombia we are growing our
cash pickup network to over 1,300 locations."

    "We at Bancolombia are proud to partner with Xoom as our first
Internet-only money transfer company," added Myriam Botero, head of
remittances for Bancolombia. "Xoom offers Colombians living abroad the
convenience of sending remittances from the convenience of their home
computer directly to a bank account at Bancolombia. If your family member
does not have a bank account, they can pick up the money in cash at a
Bancolombia branch."

    "We continue to make strides in providing a faster service at the
lowest price. We now offer bank deposit and cash pickup at Bancolombia in
minutes, and fees start at US$2.99," said Theresa Pasinosky, senior
marketing manager, Latin America, for Xoom. "Plus, with Bancolombia as a
partner, customers can feel more comfortable using Xoom to send money to
Colombia."

    According to the Inter-American Dialogue, Colombia received US$4.8
billion in remittances in 2008, making it the third largest in the Latin
America and Caribbean region(1). Over half of remittances are sent from
family members living in the United States(2).

    About Xoom.com

    Xoom.com allows individuals to send money from any Internet-enabled
computer to family, friends and businesses. 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 Colombia, visit
http://www.xoom.com/colombia.

    About Grupo Bancolombia

    Bancolombia is the largest commercial bank in Colombia and one of the
largest in Latin America, offering over 700 branches and over 2,000 ATMs.
Bancolombia has been providing remittance services for the last 13 years.
Bancolombia was founded in 1875. http://www.grupobancolombia.com

    (1) Inter-American Development Banks and Multilateral Investment Fund:
Remittances 2008: Remittances in Times of Financial Instability, Washington
DC, March 2009.
http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=1910986

    (2) Inter-American Development Banks and Multilateral Investment Fund:
Colombia and Remittances;
http://www.iadb.org/mif/remittances/lac/remesas_CO.cfm?lang=en&id_state=co