What Is Western Uniоn?
Western Uniоn is a financial institution that deals on transferring money from various locations around the world. The system although based in America can move money to different parts of the globe with ease and swiftness. The company which has been in existence since 1851 enables users to deposit money at one center and allows the receiver to pick up at another Western uniоn center where he is located.
The company is known to be the biggest money transfer center in the world, it can be found in over 209 countries in the world and has 550, 000 locations around the world.
How Western Uniоn Works:
Western uniоn helps you send money to different parts of the world. These funds can be received from any location worldwide within minutes of being transferred. Sending money at a fast rate will cost more, but you can also send the money at a cheaper rate but it will take time to get to the destination. Western uniоn cost of sending money is very high in developing countries but quite cheaper in developed ones.
Western uniоn can deliver money to different parts of the world where other providers are not present. They can deliver cheap transfer to Mexico, China, India and even Philippine at a very fast rate and speed.
What Western Uniоn Offers:
Western uniоn offers the following services
- Fast delivery for every country it so located
- It has an excellent range of payments and delivery options to its customers.
- It offers decent prices when someone is sending money to developing nation’s.
Cost of Transaction:
There are many options with different fees attached to it. They are outlined below.
- Money transferred to bank accounts is quite cheap than those send as cash pickups. Western uniоn allows the transfer of funds to various accounts all over the world, it also allows cash pick up but this is quite expensive.
- When transferring money to wealthy countries like Germany, the United Kingdom, France, and others, the fee is quite expensive. But transaction to developing countries like India, China and Philippine is cheap.
- The cost of transferring money to other parts of the world depends on the amount to be transferred and the location where the money is going to. For a transfer of $1000 dollars, a fee of $95 can deliver paid for a safe transaction. Their median exchange rate is usually from 0 to 10%.
- Using a credit card to transfer money is more expensive because of the extra charges added to it. It is therefore wise to use a bank account transfer or debit cards.
- Determining when the cash is to be picked up is another factor that can increase the transfer fee. But the helpful part is that money can be transferred within minutes, this is quite helpful when there is an emergency.
A lot of benefits can be gained from using Western uniоn to transfer funds to people around the world. The speed and efficiency of the transaction is also something to take note of. And of course, Western uniоn has one of the best services because it covers a large geographical area.