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We all know that money transfers can be made online nowadays, but this is not something unheard of and has been going on for a long time now. Western Union, an organization founded in 1851. back in the days when a car was a luxury and the money transfers were made on the back of the horse. With access to over 200 countries all over the world, the Western Union stands to be the only organization with access to these many countries. Hence, its immense popularity is not limited to the money transferring world. The entrance to 200 countries and people working all around the world sending money back to their homes. The Business has grown exponentially over the centuries.
The one course of Medium that stands out and is different from the rest of the money transfer companies is the agent network through which you can literally walk and transfer the amount to anywhere in the world using any Western Union branch.
How Does It Work
Western Union provides multiple options to its customers to send the money abroad to their loved ones. You can transfer through their app, using the online transfer on the website, or in person through their outlet.
Visit your nearest outlet to make the in person transfer to any of the locations of Western Union in the world or their website, and follow the following steps.
Once you are on the home page, click on send money. It should be on the mid-top part of the homepage.
Enter your desired location, where you want to send the money from the list of two hundred countries.
Put in the amount of money you want to send to another person.
Please choose how you would like the person on the other end to receive the transfer. You can select, pick up, transfer to their respective bank account, delivery or cash.
Transfer cost is relative to the amount you are sending to the person on the other side. However, the Western Union`s fees on bank transfers are cheaper but take more to complete.
Sign in to your Western Union account.
Provide the recipient`s details, including their bank account information.
Now charge for your transfer by putting your bank account credentials or using a debit card. In case you opt to pay in person, you will need to carry your id card to the nearest Western Union outlet.
How Much Does It Cost To Transfer Money?
As mentioned earlier, the amount you pay as a transfer fee is relative and is based on several factors, which are as follows.
Which country do you choose to send money to?
Which Medium of transfer are you using
How much you are sending
If you are looking for a reasonable option to send money, we would recommend going for a bank transfer as it is accessible in the pockets but takes days at times to make the transaction through.
The quicker option here would be sending money through credit or debit card, the fees might be higher, but your money will get there in no time (i.e in a few hours). The receiver can pick up the cash from any of the 550000 thousand Western Union locations in the world. However, I would recommend choosing the one near their place.
How Is The Exchange Rate In The Western Union
The exchange range you get is better when you send money off to the developing countries, and you might not get as good the rates while sending it to developed countries. It usually makes big margins on its money transfers. But the competitive exchange rates and fees are not any better.
The Western Union App
The Western Union has been a game-changer for many. You are putting years of reliability and goodwill in the palm of your hands. The app is faster than any of the channels mentioned above, convenient, quick, and easy-fix for the people. By signing up for the application, you can also claim a fee reduction for your transfers and track your transfer location in the meantime.
The quickest option is to send money in case of emergency.
With the worldwide locations of Western Union, you can send cash anywhere in the world.
Reputable organization due to well-built goodwill over the centuries.
The Western Union is reliable, but the reliability comes at a bit more cost.
Limited channel in some developing countries, such as Kenya where people can only make use of the service through
For me, the Western Union experience has always been fruitful, and the durability with ease of accessing locations in multiple places takes precedence over the cons. It still has over a 20 Percent market share in the world of sharing remittances, and the number only seems to be growing over the decades.