The service is possible through the updated IMPS technology used by the provider post its tie-up with Punjab National Bank.
It facilitates immediate fund transfers and deposits by the Xoom customers to the recipient’s BOB accounts.
Xoom Senior marketing and business development vice president Julian King said: "Through our partnership with Punjab National Bank and the breakthrough IMPS technology, we are thrilled to expand our instant deposit service to Bank of Baroda, one of the largest public sector banks in India.
"Instant deposits are available 365 days, including bank holidays, so customers will never have to wait. Speed and convenience are what customers expect from Xoom’s service and we continue to do just that in our mission to provide instant deposit to even more banks in India."
Besides the new service launch connecting BOB, Xoom offers instant deposit service for ICICI Bank, HDFC Bank, Punjab National Bank, Union Bank of India, Federal Bank and Yes Bank.
