Western Union Company is an American multinational financial services company. It is headquartered in Denver, Colorado. While the company's name is not particularly evocative, many people associate it with sending money to distant locations. A WU website may contain proprietary information, such as its terms and conditions. These documents are protected by law and can only be used by authorized employees. A WU representative can help you decide which currency you want to send. The company also allows you to choose an alternate currency to receive your payment, such as euros or dollars. You should consider the appropriate currency exchange rate before using a Western Union service. If you want to avoid paying excessive fees, you can opt to use a service that is free of charge.
Western Union Year Established |
1851 |
Western Union International Clients |
Western Union accepts international clients. |
Western Union Age requirement |
18 years |
Western Union Currencies Offered |
38 online |
Western Union Minimum Transfer |
$1.00 |
Western Union Transfer Fees |
up to 3% |
Western Union Office Locations |
Headquarters in US, with subsidiary offices and certified agents literally across the globe. |
Western Union Employees |
11000 |
Western Union Turnover |
5,600,000 USD |
Western Union Regulation |
Financial Conduct Authority (FCA) |
Western Union Fees |
Western Union transfer fees are up to 3%. Fees with Western Union may vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source). Additionally to the fixed fees taken by Western Union, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred. |
Western Union Client Rating |
Western Union has a rating of 3. |
Number of Western Union customers |
15000000 |
Western Union Website |
|
Western Union Supported Languages |
English, French, Spanish, Polish, German, Danish, Finnish, Japanese, Dutch, Norwegian, Portuguese, Russian, Swedish, Turkish, Ukrainian, Chinese, Italian |
Month | Savings |
---|---|
January | $100 |
February | $80 |
Most of the time money transfers with Western Union will be smooth. Each money transfer service have their own benefits and isses, so always weigh the pros and cons of sending money with Western Union money prior to submitting an application to Western Union.
Can you easily afford the Western Union fees, are the exchange rate costs reasonable with Western Union?
Western Union is a financial service company, that offers its clients money transfer services.
Western Union was founded in 1851 by Hikmet Ersek and has offices in Denver, US.
Western Union provides money transfer services to its 15000000 customers who are from all over the world including Most of the countries around the globe.
The Denver, US Western Union business was founded in 1851 to deliver money orders locally and internationally.
Money transfer businesses, or other financial corporations use EFT (electronic funds transfer) to send money across distances, large or small. That is to say that it is not actual money being sent, it is rather data that represents the amount being sent that the recipient can withdraw whenever they wish.
Western Union is among the most recognized and reputable money transfer platforms. It has an exceptional track record and offers reasonable rates.
Western Union was established in 1851 in Denver, US, and has been in operation for around 173 years Western Union have a head office in Denver, US.
Western Union money transfer exchange rates are quite minimal compared to banks and other money transfer providers. A minimal percentage is charged on top of the exchange rate as standard practice. Western Union only charges up to 3%, when compared to other money transfer service providers.
The maximum transfer amount with Western Union is up to $10,000.00 (varies) (or its currency equivalent) online.
While Western Union charges a small percent of transfer fees, the brand offers reasonable exchange rates.
When transferring money with Western Union, it is crucial to keep tabs on the following:
Any taxes or charges are payable in the destination country. costs may exist that are not paid through Western Union or imposed by Western Union. Your Western Union money transfer transaction may be cancelled if it is demmed to be connected with prohibited activities including all applicable laws regarding anti money laundering or counter terrorism financing laws. or the transaction is actioned through unauthorised use of your Western Union account.
Several money transfer platforms like Western Union charge money for every money transfer a customer makes through their platforms. Other than that, every time an individual exchanges money from one particular currency to another, the money transfer operator in this case Western Union may charge for a currency exchange.
A transfer fee is the sum of money that a money transfer operator like Western Union charges a customer for transferring money to a recipient. The amount charged depends on the operator charging it.
Exchange rate margins are how Western Union, banks and other financial corporations make profit off their services instead of charging customers with commission fees.
When a bank or a money transfer service like Western Union quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with Western Union to see what their exchange rate margin is.
A Western Union fund transfer is when someone sends money from their account to another person's account. Money can be transferred using different methods, e.g. online, via the phone, or a mobile app.
The methods to transfer funds are:
Western Union enables users to transfer money using bank transfer, via none.
Money transfer operators that offer more currency options are beneficial because they make for reduced conversion fees. This way customers do not have to pay exorbitant conversion fees when transferring money.
Western Union offers every available world currency to its customers. We list the major Western Union supported currencies below.
Western Union offers the following transfer options:
’Single payments’ is a term used to recognize a one-time money amount from an allowance. For a single payment, the user may use a single credit card (or debit card) and have a single invoice.
A regular payment is a highly economical and easy way to transfer money with Western Union. It is best suited for customers who have to transfer regular smaller amounts (usually three, four, or smaller five-digit amounts).
Western Union offers services for sixty different currencies across more than one-seventy countries.
The more global a money transfer operator becomes, the more reliable it is for people across the globe.
Western Union does not operate in the following countries :
Certain countries are restricted because Western Union is not allowed to legally operate in those regions or it is not economically viable for Western Union to provide money services in these regions.
An International Transfer is when someone sends money from their account in one country to a bank account in another country.
Setting up your Western Union money transfer is quick and simple with the modern Western Union online platform.
Transferring money internationally used to be a tedious process 10 years ago but advances in software and the internet have made transferring money allot easier.
These days, you can send a money transfer with ease on the Western Union website.
The Western Union website includes useful and easy-to-access option for those who wish to track their money and monitor when it can be received, providing a safe and accessible option if you'd like to keep an eye on your transfer.
Several money transfer companies do not have a minimum money transfer amount. Making it easy for their users to send small amounts of money. Western Union has a minimum transfer amount of $1.00.
Money transfer companies often do not have maximum transfer limits. For example, Western Union does not have a maximum transfer limit when the user is paying through phone. There is however, a $10,000.00 (varies) limit per transaction for online transfers.
These are the fees charged by Western Union and other money transfer companies (or other financial corporations) for transferring money. Several companies however, do not charge their users for transferring money. The only charges there are to pay are currency conversion charges.
Western Union money transfers do not usually take very long. It normally takes less than 24 hours for a money transfer to complete between two accounts with the same financial corporation. While in the case of money transfers with money transfer services like Western Union, it can take a little as a few minutes. If the money is being sent overseas, it can take up to five days for the recipient to receive the money from Western Union.
If a company has the acronym PLC at the end of its name, it means that the business offers its shares to the public and is traded on a public stock exchange. This alone makes the company more reputable. Western Union is not a publically listed company. Western Union is a privately owned company.
The charges for issuing money orders with Western Union are up to 3%.
Western Union offers mobile top ups.Western Union mobile top ups are where a user can add credit to a recipient’s mobile phone number. The recipients number has to be local. These are normally processed within minutes, if not seconds.
Some money transfer companies offer COVID-19 financial assistance. This may be in many forms including payment holidays, reduced interest rates and more options to pay. Check with Western Union directly to see what they are able to offer if you are adversely affected by COVID-19.
There may be many reasons you are looking to action a money transfer with Western Union. These reasons can include debt consolidation, medical bills, student debt, collection agency debt, wedding costs, holidays, home repairs and repaying friends and family.
Western Union money transfers are best for people looking for looking for a reliable fast money transfer service.
For Western Union to be able to process your money transfer application as quickly as possible make sure you have everything Western Union need. If you and Western Union need to go back and forth it may delay the Western Union application process. Make sure every piece of information you give Western Union is accurate.
Please note that you must have at least a minimum of one active bank account for Western Union to process your money transfer.
Application time refers to the amount of time you have to wait for your Western Union registration to be approved. This should not take long, especially if you have nothing which should come up as red flag on the Western Union system.
It is the time it takes for Western Union money transfer operator to approve the money transfer being made. Depending on the situation this can take up to five days.
It is the amount of time it takes for the recipient to receive the money transfer. Once your Western Union money transfer has been approved the money should be in your account within four working days.
Why more features are useful for modern life’s and why new challenger banks are starting to beat traditional banks.
Here are a number of important things to consider before considering Western Union money transfer:
Western Union support should be there to help customers with their issues which includes answering their queries, guiding them through and difficult processes and issues when transferring money. Western Union customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.
When getting a Western Union money transfer you will want to speak to a Western Union representative in a language that you are comfortable with. All your Money Transfer queries and issues should be resolved quickly.
Customers can reach out to Western Union through live chat to resolve Western Union money transfer account issues or difficulties with their Western Union account that they can't solve. Live chat, or live support is a real-time live chat feature used by customer support representitives allowing customers to instant message to and receive guidance from a trained agent regarding a your money transfer related query.
When deciding upon a money transfer company like Western Union you will want to know how Western Union compares with other leading online money transfer companies. See how Western Union compares below.
Used By: 280000000
Currencies Available: 76
Transfer Fees: none
Payment Methods: Bank transfer, credit card, debit card
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: US$1.00
Max Transfer: US$500,000.00 (or equivalent)
Year Founded: 1993
Used By: 11000000
Currencies Available: 54
Transfer Fees: 0.5%-1%
Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: 1 USD
Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Year Founded: 2011
Used By: 3000000
Currencies Available: 63
Transfer Fees: 0-3.99$
Payment Methods: Bank transfer, credit/debit card
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: US$1.00
Max Transfer: US$20,000.00
Year Founded: 2011
Used By: 11000000
Currencies Available: 54
Transfer Fees: 0.5%-1%
Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: US$1.00
Max Transfer: US$1,000,000 (varies based on currency)
Year Founded: 2011
Used By: 150,000
Currencies Available: 17
Transfer Fees: 0.45%
Payment Methods: Bank transfer, debit card
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: £5.00 (or equivalent)
Max Transfer: £10,000,000.00 (or equivalent)
Year Founded: 2009
Used By: 11000000
Currencies Available: 55
Transfer Fees: 0.5%-1%
Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: 1 USD
Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Year Founded: 2011
Used By: 130000000
Currencies Available: 11
Transfer Fees: 0%-1%
Payment Methods: bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents)
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: $1 (minimum sending amounts could differ based on certain currency pairs)
Max Transfer: No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country)
Year Founded: 2014
Used By: 25,000,000
Currencies Available: 23
Transfer Fees: none
Payment Methods: Bank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: none
Max Transfer: 10000 USD
Year Founded: 1832
Used By: 120,000
Currencies Available: 33
Transfer Fees: none
Payment Methods: Cash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country)
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: US$1.00 (varies based on certain currencies)
Max Transfer: US$2,500.00 / day (weekly and monthly limites also apply)
Year Founded: 2001
Used By: 150000000
Currencies Available: 46
Transfer Fees: 0-1.99$
Payment Methods: pay by card or directly from your bank account
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: none
Max Transfer: 3000 USD
Year Founded: 1940
Used By: 250000000
Currencies Available: 4
Transfer Fees: 0$-40$
Payment Methods: Bank transfer, debit/credit card, PayPal balance
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: US$10.00
Max Transfer: 2999 USD/day, 6000 USD/month, 9999 USD/3 months
Year Founded: 2001
Western Union has a website available online but it may be useful to manage your Western Union account from your mobile device like your tablet or phone.
Western Union offers an Android mobile application on the Google Play store.
Western Union offers an Apple IOS mobile application for iPhones and iPads allowing Western Union to users to check their Western Union accounts on their iOS mobile devices.
Western Union offers the following Money Transfer payment methods: Cash, bank transfer, debit card, credit card (varies from country). All of significant bank systems are all acknowledged with Western Union.
Western Union offers ACH Payment which is used for direct deposit and debit transfers within the US. It is similar in nature to BACS (for the UK) and EFT (for Canada). Users can pay through bank transfer.
The recipient will receive the money in their bank account and can withdraw it using the method they prefer. They cannot, however, receive the money in the form of cash.
Take note that Western Union may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from Western Union.
Western Union is a reliable, secure, and trusted option for sending money overseas. Western Union are registered and regulated with the Financial Conduct Authority (FCA).These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by Western Union customers.
Every business that wants to send money across borders (in excess of €3 million per month) must be licenced under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, both of which were created by the UK government but executed by the FCA for UK residents.
Consumer credit, in simple terms, is credit offered to individuals so they can purchase goods or cover personal expenses. It does not cover long term investments such as purchasing property. It allows for a properly managed economy to function and further encourages economic growth.
Firms like Western Union that offer money transfer to retail customers are legally considered to be offering consumer credit.
A financial regulator ensures that consumers are protected, there is fair competition in the money transfer industry and the integrity of the Financial services industry as a whole is maintained.
Getting a money transfer with a regulated company is essential as it offers an increased level of protection than a money transfer from an unregulated one. This is because regulators are able to enforce strict rules and stop unscrupulous money transfer operators.
Laws differ on who can and cannot offer consumer credit in each country. Credit firms have strict rules that they must follow in order that they are legally allowed to transfer money to consumers. These laws are in place to protect consumers becoming trapped in a money transfer they can never pay off.
Be sure that Western Union is fully licenced as a money transfer company.
The Payment Services Regulations Directive, is run by the European Commission in order to govern payment services and their providers across the European Union as well as the European Economic Area.
One of its goals has been to make foreign currency transactions transparent, much like currency payments. This is to protect consumers and businesses from being swindled.
The FCA is a control body meant to license money transfer companies. Companies such as banks, Forex brokers, and money transfer operators are monitored the most. This is because they deal in situations that involve many intricacies, such as transferring money and offering loans, etc.
All reputable money transfer businesses that operate within the United Kingdom by law have to be registered and authorised as a payment institution by the Financial Conduct Authority (FCA) to comply with the Payment Services Regulations that were introduced in 2017.
Check Western Union is financially regulated. Western Union is regulated by the Financial Conduct Authority (FCA).
This makes sure that your Money Transfer agreement is above board and safe. In Addition, it Usually Means that Western Union Possess a responsibility of care to their clients.
Financial institutions (which do not classify as banks) which convert and transmit money like Western Union are known as Money Service Businesses. While they provide services similar to banks, they are still not considered banks. They offer more varied product options to individuals looking to transmit or convert money.
Financial authorities tend to keep tabs on Western Union and other Money Service Businesses the most because the type of services they offer can leave them vulnerable to be used in financial crimes like money laundering. This is why it is crucial for them to be registered with the HM Revenue and Customs in the United Kingdom.
Western Union as part of their regulation are required to segregate client funds from Western Union company funds and keep all client funds within a bank that is authorised as a credit institution by the regulator. All client funds should be kept in the most reputable third-party financial institutions such as Barclays or the Bank of America.
Western Union regulatory requirements mean that Western Union Money Transfer funds and your funds should be totally separate. Western Union cannot use any money that is still legally yours to conduct Western Union daily business like paying Western Union suppliers and costs. Your funds should be kept by Western Union in a segregated bank account.
Fraud prevention is highly crucial when transferring money because once the money is gone, it's gone. Scammers most often gravitate towards money transfers. Lack of fraud prevention procedures can lead to loss of funds, or even identity theft.
Western Union goes to great lengths to protect your Western Union account from fraudulent use. We explain some of Western Union anti-fraud features below:
Having instant notifications turned on is not only convenient because the user is instantly alerted whenever there is a payment related activity on their Western Union account, as you are instantly aware of every Western Union transaction these notifications to your phone help you to keep tabs on any suspicious activity.
After conducting a transaction with Western Union, the Western Union accounts primary contact will receive a transaction confirmation confirming the transaction amount, rate exchange applied, and Western Union delivery instructions.
Western Union has systems and controls in place to detect fraudulent activity and protect Western Union client accounts from misuse. If Western Union detect a questionable transaction on your Western Union account, Western Union will contact you to verify the transactions legitimacy to ensure your Western Union funds are safe.
Western Union and other money transfer companies often charge their customers a certain amount of interest fees on every transaction made. The fees depend on the amount of money the customer wishes to transfer. Western Union also earn money via foreign exchange rates.
Money transfer companies like Western Union and banks need to survive, so they make money on interest from accounts and money transfers.
We list some of the most frequently asked Western Union questions below.
You can transfer up to $10,000.00 (varies) at a time.
It normally takes 3-5 business days.
If you need to cancel your transaction due to any reason, kindly contact us on this number +104904946.
To signup to a Western Union account you will need to be at least 18 years old.
Western Union have been in operation since 1851 and have over 15000000 customers and 11000 employees. Western Union is not a scam.
Sending money with Western Union is a single process once you have registered and verified your Western Union account and payment methods.
Depending on where you are located, you have a few options for how you can receive any money that has been sent to your Western Union account. Your options for receiving money depend on the information entered by the sender, the country you are in, the currency you are receiving, and some other factors. Some methods of receiving money may not be available to you.
Bank transfers are useful because not only are they safe, but the whole process is quick, and they offer the kind of flexibility no other method can. Western Union allows for a deposit directly into your bank, credit union or other financial account.
Some money transfer companies have agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent. Western Union allows you to pick up money in person at a Western Union agent location.
A mobile wallet virtually stores cash card details on a smartphone. These are quite convenient as they allow for users to make purchases at physical stores without needing to carry money.
Western Union Does not support mobile wallets.
It is a way for an individual to receive money without having to leave home. What this means is that any money you send can be received in person at a designated home address. The money is delivered by a local agent. Western Union do not offer home delivery money transfers.
Western Union was founded in 1851.
Western Union have a rating of 3 and are financially regulated, Western Union can be considered a good money transfer company.
Its is easy to close you Western Union account. You will have to make sure any outstanding payments and fees due to Western Union are paid in full Before Western Union will fully close your account. Make sure when closing your account Western Union send you an official confirmation that your account is closed and no more monies are due to Western Union.
No, setting up a Western Union account can take a few minutes. You will need to provide some proof of identity and address. You should definitely be able to access all the features of your Western Union account in 1-3 days.
Western Union are based in Denver, US
Countries where Western Union is legal?Western Union is legally allowed to operate in over 40 countries.
You can track a Western Union money order by calling Western Union or by tracking the order online. Call Western Union number on +104904946. The Western Union automated phone system will take a few details and give you a status update. You can go online to the Western Union website and check the status of a money transfer at any time.
If you have a Western Union online account, log in and view your transaction history; If you do not have an online account, or if you are the receiver of the Western Union transaction, use the Western Union payment reference number on the Western Union website to check the status of the transfer.
The way that you cancel a Western Union transfer depends on how you created and sent the Western Union money transfer originally.
You may need to contact Western Union by phone on +104904946, through their website at www.westernunion.com or via email [email protected]. Requests are typically processed within 30 days, and you may be charged a cancellation fee by Western Union.
If you made the Western Union transfer online, then you should log in, find the transaction in your transaction history and then cancel it on the 'Transaction Details' page. If you do not have a Western Union account, use the 'Track a Transfer tool to find the transaction and then cancel it on the Transaction Details page.
Double check the terms and conditions for cancelling a Western Union transfer on their website.
If Western Union isnt quite what you are looking for you can check out some of the best Western Union alternatives below.
If you would like to see Western Union compared against some of the best Western Union alternatives available right now you can do so by clicking on the links below.