Western Union Fees And Exchange Rate
The costs to make a transfer will vary, depending on where youre sending money, how the payment is funded, and how the recipient receives the money.
Lets take a look at an example of the fees you might see, sending 600 USD to a friend in the UK:
|Arrange online, pay cash in store||
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When youre calculating the costs of a transfer on the Western Union website, youll find the following disclaimer in the footnotes:
Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. ¹
So how do you compare the exchange rates used by different money exchange and transfer services?
How To Transfer Money With Western Union
This article was co-authored by Michael R. Lewis. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin.There are 14 references cited in this article, which can be found at the bottom of the page.wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 14 testimonials and 87% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 1,015,532 times.
Western Union is a wire transfer service that allows you to quickly transfer money all over the globe. While its not without risks, it is a reliable way to get money to friends and family almost anywhere in the world. Follow this guide to make sure your money gets to where it needs to go.
What Else Should You Know About How To Send Money Using A Credit Card
Overall, the main consideration when you transfer money from a credit card to a bank account or loved one is the possible impact it can have on your credit score. You should also be aware of interest rates and debt implications.
If you can, its best to transfer money from debit card accounts to avoid the risk of going into your overdraft and accruing debt-related fees. If the money is for an emergency, its also a good idea to seek out financial advice from your bank or financial advisor.
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Receiving An International Transfer From Western Union Whats The Big Deal
Western Union is one of the largest money transfer services in the world. Customers can send and receive money online or via agent locations. Money is delivered into a recipients bank account, or can be collected in local cash from an agent if this is preferred. Theres an extensive network of agents around the world, including some branches of 7-Eleven and Travel Money Oz here in Australia.²
Using An Anonymous Digital Wallet To Send Money
When individuals discuss transmitting money with Bitcoin, it appears to be a challenging process. In actuality, its a piece of cake. To send and receive money using Bitcoin, you dont need to understand it or how exchanges function.
Lets imagine you wish to transfer $500 to someone you dont know. You would purchase $500 in Bitcoin and deposit it in an electronic wallet. Youd then give that $500 worth of Bitcoin to a buddy, who would then exchange it for cash. By doing so, you avoid the exorbitant fees charged by banks and agencies when exchanging money in foreign currencies.
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Why Should I Send Money This Way
- Send money through Scotia OnLine, Mobile Banking or at any Scotiabank branch
- It costs just $5+1% with amounts between $0-$999.99 of the money transfer
Send the money you need
- Send up to $999 a day through Scotia OnLine and Mobile Banking or our Contact Centre
- Send up to $7,499 a day through a Scotiabank branch
- Your receiver must show ID and provide details about the money transfer in order to pick up funds.
Pay With A Bank Account Notes
Availability of Service depends on selected Service conditions including amount sent, destination country, currency availability, regulatory issues, identification requirements and location hours. Funds may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination, country, currency availability, regulatory issues, identification requirements, Agent location hours, differences in time zones, or selection of delayed options. For To a Bank transfers, bank participation and bank hours of operation, including local and bank holidays, and bank rules concerning availability of funds . To a Bank transfers will generally be credited to qualifying bank accounts at destination banks within 5 banking days after the money is sent, subject to Restrictions. Transactions: that exceed certain amounts to certain destinations that implicate certain regulatory issues or sent through delayed options may take longer, be subject to dollar limits or be subject to additional Restrictions. You must use a credit or debit card issued by a U.S. bank. A card issuer cash advance fee may apply. See applicable form or online Terms & Conditions for details.
See chart below for Three Day â To a Bank payout availability
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Relied On By Customers Globally
At Western Union, weâre a global leader in cross-border, cross-currency transfers. We aim to help economies flourish, create a better world, and offer a great money transfer experience. Moving money is as convenient as possible. Send funds from Canada online, with our app, or in person to hundreds of territories worldwide.
Support your loved ones no matter the distance, with ease of use, reliable services, and additional benefits. Send your money reliably with Western Union as we encrypt your transfer and are committed to keeping your data secure.
We encrypt your transfers
A Straightforward Way To Send Money Overseas With Multiple Transfer Options
- First ten transfers free when you sign up through Finder
- Find the best rate on the CurrencyFair marketplace
- App available for both Apple and Andriod users
Western Union has a gigantic global network of agent locations and bank connections that makes it easy to send money to almost anywhere. Transfer money fast for higher fees, or a bit slower for lower fees, depending on your needs and resources.
However, given Western Unions history of customer complaints and lawsuits, maybe consider looking at smaller money transfer providers who have a better track record and also offer better exchange rates and lower fees. Having said that, Western Union will almost always be a cheaper option than your bank, especially when sending one-off transfers or to remote destinations.
Why should I consider Western Union?
What to be aware of
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How Can I Send Money From My Credit Card With Western Union
With Western Union, you can transfer money using a credit card online, via our app, or at one of our handy local agent locations. All you need to do is have the information of both accounts involved in the transfer , choose how much you want to send, and where you want to send it.
Sending money online or with our app is quick and easy and can be done in just a few clicks. If you want to send money in person, you need to find your local agent and bring the necessary account details, along with your card and proof of identity.
We make it easy to support friends and family, wherever in the world they may be. All you need to do is for a Western Union account and youll be ready to make your first transfer.
Selling On The Internet
Western Union transfer funds are the safest option to sell online since its practically impossible to reverse a trade after receiving the funds. If you utilize PayPal, you wont worry about buyer security or credit card chargebacks.
However, most purchasers are aware that this places them at a disadvantage, and they may choose a more secure payment method. This may not be easy unless they are confident in your ability to deliver or have a good reputation.
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How Long Does The Process Take
Both options for transferring money from PayPal to Western Union can take time. The very quickest way – which is also likely to have the highest fees – is to withdraw your funds from PayPal using an instant transfer.
If you then arrange an online Western Union for cash pickup, the payment could be available in just afew minutes.
However, there are higher fees for this type of transaction compared to standard withdrawals and bank transfers from Western Union.
How Can I Send Money To Someone Without A Bank Account
With Western Union, you can send money for cash pickup, instead of direct to a bank account. When you start a transfer, select to send money for cash pickup and choose your receivers closest agent location. Your loved ones could receive the money in minutes. 1
Your receiver will need to show the agent a form of ID, the amount they are receiving, and the tracking number from your transfer.
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How Do I Fill Out A Western Union Money Order
In order to send money through a Western Union agent location, you will have to submit a pro-forma money order. Even though most modern locations no longer make use of paper orders, there are still some where you have to manually input your information. If this is the case, make sure you write in clear, large letters. Here is a quick guide on how to do that:
Receiving Your Money With Western Union
If youre expecting to receive a payment with Western Union, the sender will need to get a few of your details to make it happen.
If you want your payment to be sent directly to your bank account, you must give the sender:³
- Your full name and address – name must be the same as shown on the bank account
- Your mobile number
- Bank name, account number and bank code
- Confirmation of the purpose of the remittance
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Western Union Exchange Rates
One thing that makes a big difference to your transfer is the exchange rate used. If a poor rate is used, you could find that the transfer costs more than it ought to in the end – even if the upfront fees look like good value. That means that you receive less than you expect.
The Western Union exchange rate is set based on the destination country and currency, and which payment route is used. The rate online may be different to the one used in an agent location – and different stores may even have different conversion rates based on factors like local competition.
Once your sender has found out which exchange rate will be applied to the Western Union transfer, its smart to compare this to the rate youll find on Google, to see if there is a markup or margin added. This is common practise but can be a surprise to customers. Heres what the Western Union terms and conditions say about this:
The exchange rate applied may be less favourable than some publicly reported commercial exchange rates used in transactions between banks and other financial institutions. Any difference between the currency exchange rate offered to customers and the currency exchange rate received by Western Union will be kept by Western Union in addition to the transfer fees.
Ask your sender to compare the Western Union exchange rate with that on offer with alternative providers. Youll be able to model the payment and see how much youll receive based on different services.
Connecting Customers Around The World
As a company working in cross-border, cross-currency money movement, Western Union aims to help grow economies and create a better world. Register with Western Union to send money to another bank account almost anywhere in the world. So, go ahead: send money with us and enjoy ease of use, reliable service and all the other benefits we have to offer.
Encryption to help protect your money transfers
Weâre committed to keeping your data secure
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Transfer Money From A Credit Card To A Bank Account
There are several ways in which you can transfer money from a credit card to a bank account. However, this depends on your bank or credit card issuer, so its best to research beforehand to gauge which options are available to you.
A popular method of transferring money from a card to an account is via a direct transfer. This can be completed in person, and online in some account cases, and is usually used if you or a loved one requires the money within a short amount of time.
Another way is to withdraw money from an ATM and simply deposit this into your bank account. However, this method isnt best suited if you wish to send the money overseas or the person whose account you want to deposit into isnt present with you. An easier way, in this instance, would be to send a check, which they could then deposit into their account themselves.
If you need to send money from a credit card to a bank account urgently, you can opt for a cash advance. More commonly used for financial emergencies, a cash advance acts as a loan taken out on a credit card, which can then be deposited into a bank account. This must then be paid back with interest this starts accruing as soon as the money is taken from the card.
Does Rhb Have Western Union
Receive Western Union transfers Enjoy the flexibility of collecting incoming Western Union transfers from any RHB branch whether youre an existing RHB customer or not.
How can I transfer money from Public Bank?
Please follow the steps listed below:
Can Public Bank do international transfer?
PB Remittance Xpress provides a range of FAST and SECURE remittance services, be it locally or anywhere around the world. A fast way to send money worldwide at any Public Bank branches or PBe and receive money worldwide at any Public Bank Branches.
What info do I need to send Western Union?
Start online, finish in store
How long does Western Union take to transfer money to bank?
Direct to bank money transfers will generally be credited at the receivers Bank account within 3 banking business days after money is sent, subject to Restrictions. See Terms and Conditions for details.
How much is Western Union limit?
Maximum send limit $500/day/card account.
Frequently Asked Questions About Sending Money To A Bank Account
1. To transfer money to another bank, start by logging in or signing up and verify your free profile. Click âSend nowâ to start your money transfer.2. Enter the destination and amount youâd like to send. Transfer times vary per destination, but youâll be able to see these as you make your selections.3. Select âBank accountâ as the receive method. You can select a past receiver or enter their bank account details. The recipient information youâll need varies by location, but the bank name is mandatory in most countries. You can search for the country you want to send money to for more details on the banking information you need here.4. Pay with your credit1/debit card or bank account.5. We will send you a confirmation email with a tracking number . You can share this number with your receiver to track the funds.
The Western UnionÂ® app lets you transfer money to another bank account in just a few taps.