Western Union Online Review - Exchange Rates & Fees Explained - Alternatives
How can you use Western Union to send money abroad? Is their service reliable? Can you trust Western Union with your money? How good are their fees and exchange rates?
Our independent review of Western Union
Western Union's review
Western Union is a Good money transfer service (7.9/10) recommended by Monito. Western Union is one of the oldest and most established money transfer providers, trusted by over 150 million customers (10/10). Western Union offers competitive fees (7.4/10) and expansive coverage (9.5/10), is easy to use (8.3/10), and has a high number and percentage of positive customer reviews on TrustPilot (8/10).
Western Union's mobile apps review
Western Union’s mobile apps have excellent ratings on Apple’s App Store (4.8/5 stars on 240,000 ratings) and Google’s Play Store (4.5/5 on 156,200 ratings). With Western Union’s mobile apps, you can send money virtually anywhere around the world quickly and easily.
Western Union’s services & coverage
Western Union is one of the world’s oldest, largest, and leading money transfer providers in the industry. Their service allows people to send and receive money at over 550,000 agent locations in over 200 countries and territories around the world. Customers can also send money online via the Western Union website and mobile app to bank accounts, agent locations, mobile wallets.
With Western Union, money can be received in over 125 currencies and in several ways (sending and receiving options vary by country): in cash at an agent location or through an ATM, in a bank account, or on a mobile wallet. The money is often available within minutes after being sent. You can pay for your money transfer using cash, debit or credit card, or your bank account. There are also bill payment services for some countries. Money transfer limits vary depending on what service you choose and your transfer history as well as the sender and recipient's location, payment, and payout methods.
Western Union is currently embarking on a massive digital expansion with the aim to expand the number of countries that enable digital money transfer services such as sending money from or to a bank account, to a mobile wallet or via the Western Union app. They are also expanding the countries in which you can use their mobile app. Digital options are already extensive across the US, Canada, most of Europe, Australia, and New Zealand, but they are rapidly extending their digital reach in Latin America, Asia, and the Middle East. Most recently, they've expanded their digital reach in several countries including Mexico, Brazil, Jamaica, and Panama in Latin American and the Caribbean; Singapore and Malaysia in Asia; and Bahrain, Kuwait, Qatar, and Oman in the Middle East.
Western Union’s service enables millions of people to send money to family members for basic living expenses, education, healthcare, or starting a business. Western Union also caters to businesses through its Western Union Business Solutions division.
What we like about Western Union
An enormous network of agent locations (over 550,000) across the world that enable cash pickup, and the ability to send and receive money in over 200 countries
Money can be sent both through several channels, including at Western Union agent locations, on its website, mobile app, or over the phone
Wide variety of services available for consumers and businesses
What we dislike about Western Union
Sending to certain countries or sending cash at an agent location can be expensive
Not all channels are available in every country
Exchange rate margins are not transparent
Western Union Review - The Highlights
Criteria | Monito's Score | Review Highlight |
|---|---|---|
7.4/10 | Cheap online, expansive otherwise. | |
8.3/10 | Setting up your transfer is relatively straightforward. | |
9.0/10 | Industry titan, trusted by 150 millions around the globe. | |
9.5/10 | Global coverage, 137 supported currencies and 500,000 agent locations to pick-up money in minutes. | |
7.4/10 | 4/5 rating on TrustPilot with 17K reviews. | |
6.5/10 | Via email or call-center. | |
5.5/10 | Non-transparent. Western Union makes most of the money in hidden currency exchange rate mark-up. |
Compare Western Union's online transfer fees and Exchange rates
Western Union Online sometimes offers very competitive transfer fees and exchange rates - different from a traditional cash based transfer at an agent location. Compare for your next transfer below:
Alternatives to Western Union
Western Union Fees & Exchange Rates
Western Union Fees & Exchange Rates 7.4/10
Good
Western Union is rarely the cheapest option
This indicator is based on the percentage of searches on Monito for which Western Union is the cheapest provider
Western Union has very competitive fees and exchange rates
This indicator is based on the percentage of comparisons on Monito in which Western Union offers a competitive pricing (taking into account the pay-in and pay-out options as well as the amount).
Western Union doesn't offer special promotions to Monito users
Monito cannot access real-time pricing information from Western Union
The points above are added to calculate the "Western Union Fees & Exchange Rates" score of Western Union, who scores 7.4 points on a maximum of 10 points.
Ease of Use
Ease of Use 8.3/10
Great
A lot of Monito users going to Western Union end up making a transfer with them
Western Union's homepage is clear and very easy to understand
It's very easy to open an account with Western Union
Setting up your transfer is relatively straightforward
It's easy to sign up and make a transfer both on mobile and desktop
The points above are added to calculate the "Ease of Use" score of Western Union, who scores 8.3 points on a maximum of 10 points.
Credibility & Security
Credibility & Security 9/10
Excellent
Western Union is fully licensed and authorized
Western Union has many positive customer reviews
A very large number of customers already trust Western Union
Western Union employs a very large number of employees
Western Union has already transferred at least 5 billion USD for their customers
Western Union has been mentioned in countless recognized media outlets
Western Union is part of Monito's network of trusted partners
Western Union is a long-established company
Western Union reported a minor data breach in the past year (-0.5)
Western Union had insignificant legal issues in the past year (-0.5)
The points above are added to calculate the "Credibility & Security" score of Western Union, who scores 9 points on a maximum of 10 points.
The Western Union Company, better known under its brand name Western Union, is the largest money transfer provider in the world. Headquartered in Englewood, Colorado in the United States, Western Union has a global presence with over 11'000 employees across offices in 50 countries.
Originally founded as a telegram company in 1851, The Western Union Company launched its wire transfer service in 1871, which allowed people to send money throughout its telegraph network. It has been listed on the New York Stock Exchange (NYSE:WU) since September 1865, and is currently valued at approximately $9 billion.
Western Union's brand is recognized worldwide, and represents speed, reliability, trust and convenience for their 150 million customers. In 2017, Western Union's customers - both consumers and businesses - transferred over $300 billion, with an average of about 32 transactions per second!
In most countries, Western Union’s online service is offered by Western Union International Bank GmbH, which is licensed by the Financial Market Authority in Austria (Österreichische Finanzmarktaufsicht), and with Western Union International Limited. Western Union is regulated in many countries, including the US, Canada, Australia, New Zealand, Brazil, and Ireland.
Western Union has a state of the art regulatory, compliance and anti-money laundering infrastructure, into which it invests as much as into its marketing activities. The company relies on proprietary and cutting-edge data analysis to always remain compliant with the regulations of all the jurisdictions it operates in.
So, is Western Union safe to use? Yes, definitely. Western Union is the most experienced company in the money transfer industry, the largest, and probably the most trustworthy. They have an impressive track record of serving hundred of millions of customers and are very reliable.
Authorised by the UK Financial Conduct Authority (FCA)
Firm Reference : 502592
Western Union and Fraud/Scams
Money laundering, scams and fraud have sometimes been associated with Western Union. As the largest money transfer provider in the world, Western Union is unfortunately sometimes exposed to a small group of people trying to game the system to their own advantage for illegal activities. Western Union has a dedicated page for fraud and scam prevention, educating its customers on how to avoid becoming the victim of frauds and scams, and how to prevent from using Western Union to transfer money to fraudsters and scammers. Western Union has to follow strict rules to prevent fraud, money laundering, and terrorism financing, and has a dedicated team and infrastructure for regulatory compliance.
Service & Coverage
Service & Coverage 9.5/10
Excellent
Western Union allows you to send money from a lot of different countries
Western Union allows you to send money to a lot of different countries
Western Union is available in many different languages
It is possible to pay for your transfer by local bank transfer
It is possible to pay for your transfer by credit/debit card
Western Union offers additional pay-in options
It is possible to send the money to your recipient's bank account
The money can be delivered to a cash pick-up location
The money can be sent to a mobile phone (airtime top-up or mobile wallet)
Western Union has a bill payment service
Western Union doesn't offer additional banking features
Western Union doesn’t offer a multi-currency debit card
Western Union offers guaranteed exchange rates
It is not possible to set up repeating transfers / standing orders
There is no minimum amount (or very low)
There is a maximum amount
The points above are added to calculate the "Service & Coverage" score of Western Union, who scores 9.5 points on a maximum of 10 points.
Additional services offered by Western Union
Western Union Business Solutions
Western Union also caters to businesses under the Western Union Business Solutions brand name. This service, which the company launched in 2010 following its purchase of Canadian foreign exchange firm Custom House, allows businesses to use Western Union’s global business payment network and cross-border platform. Use cases include paying suppliers, employees and partners around the world, accepting payments from foreign customers, and sending mass payments globally.
In 2016, Western Union Business Solutions launched WU EDGE, an innovative online platform for SMEs to make and receive international payments, hold foreign currency, track their payables and receivables, and manage their cash flow and foreign exchange risk.
Consumer to Business
Western Union’s consumer to business service is a fast and convenient way for consumers to pay bills from utility companies, auto finance companies, mortgage servicers, financial service providers, government agencies and other businesses. Bills can be paid using a debit or credit card, bank transfer, or with cash at a Western Union agent location. This service is currently only available in the United States under the Speedpay brand name, in Argentina under the Pago Fácil brand name, and in Peru and Panama under the regular Western Union brand name.
Prepaid card
The Western Union NetSpend Prepaid MasterCard allows consumers in the United States to hold value on a prepaid card, and use their card to make and receive Western Union money transfers. The Western Union prepaid card can be used to shop online, buy groceries, pay bills, or collect cash at an ATM. You can get a direct deposit of your paycheck and receive government benefits directly on your Western Union NetSpend Prepaid MasterCard, which gives you a quicker and more convenient way to get and use your money.
Customer satisfaction
Customer satisfaction 7.4/10
Good
Western Union has a good percentage of excellent customer reviews
Western Union has a very low percentage of negative customer reviews
Western Union has a very high number of positive customer reviews
The points above are added to calculate the "Customer satisfaction" score of Western Union, who scores 7.4 points on a maximum of 10 points.
Western Union has overall good reviews written by over 17,000 customers on Trustpilot. Here's a summary of what Western Union customers have to say:
Positive
- It's extremely easy to send money to 200+ countries
- Western Union is reliable and trustworthy
- Extremely fast money transfers
- Quick and efficient service
Negative
- Some customers were unhappy with the exchange rate offered by Western Union
- A few customers experienced delays in their transfers
- Some were annoyed by the verification process they needed to go through and the answers they needed to provide (by law)
- On some occasions, when a transfer did not go through, customers had a problem obtaining refunds in a timely fashion
Customer support
Customer support 6.5/10
Average
The FAQ and help center of Western Union are easy to understand
Western Union doesn't has any live chat
Western Union offers email support (even to noncustomers)
Western Union offers phone support (even to noncustomers)
It's relatively easy to get in contact with Western Union
The FAQ and help center are translated in all languages
Monito cannot contact Western Union on behalf of our users
The points above are added to calculate the "Customer support" score of Western Union, who scores 6.5 points on a maximum of 10 points.
Transparency
Transparency 5.5/10
Poor
The exchange rate margin makes up most of the total cost of your transfer
It's very easy to understand the fees of Western Union
Western Union clearly indicates that they make money on the exchange rate
A real-time quote can be obtained without registering
Western Union applies the same fees and exchange rates to all customers
It's very difficult for Monito to access the pricing information of Western Union
The points above are added to calculate the "Transparency" score of Western Union, who scores 5.5 points on a maximum of 10 points.
What are Western Union fees and exchange rates?
Western Union fees and exchange rates depend on the countries you’re sending money from and to, the payment and pick-up method, as well as the amount you desire to transfer. But their fees are not always totally clear and transparent. Here's an overview of what to expect when you choose to send money with Western Union.
Western Union Fees Explained
Western Union Fees Explained | Example: sending $100 to the Philippines | |
|---|---|---|
Western Union International Transfer Fees | Transfer fees are a fixed amount you need to pay for a transfer, usually clearly indicated (and might be advertised as “0 fees”). It usually depends on the countries you’re sending money from and to, the payment and pick-up method, as well as the amount you desire to transfer. | For example, sending $100 to the Philippines online with Western Union, paying by Credit Card and have choosing the cash-pickup option will cost you $9.49 in transfer fee. |
Western Union Exchange Rates Markup | Like most money transfer providers, Western Union makes part of their profit by taking a margin between the exchange rate they offer their customers, and the mid-market exchange rate at which they can acquire the currency. In fact, when we fiddled with a variety of countries to test out the rates, Western Union makes up to 20% of its profit through this exchange rate margin on average. This is why it’s important to pay attention to the exchange rate when evaluating a money transfer service. Exchange rates also vary depending on how you pay for the transfer and how the recipient receives the money. Western Union sometimes offers better exchange rates if you send larger amounts of money, so it’s worth considering if this is possible, in which case you might be better off bundling a few of your transfers into a single one if you can. | For example, sending $100 to the Philippines on Western Union online, paying by Credit Card and choosing the cash-pickup option will be converted into 4,925.57 PHP. That’s 1 USD = 49.2557 Philippine Peso (PHP). The mid-market on Google at the same time indicates 1 USD = 51.94 PHP. This 5.10% exchange rate markup is a fee that needs to be added to the transfer fee when comparing Western Union rates. |
Card fees | Card fees (from the card issuer) may pop up if you use a credit card. You can prevent these fees by paying with a debit card. | |
Other fees | Other fees might pop up and are variable include insufficient funds fees and charges for changing or cancelling a transaction. |
Some examples if you send money from the US to a foreign country
These examples are based on sending money online by paying via bank transfer (where applicable) for cash pickup in their local currency. Remember, these are just the flat fees, you will also lose more money on the exchange rate markup.
The Western Union fee if you send $1,000 from the US to the following countries
Canada = $19.99
China = $26.00
India = $6.00
Mexico = $5.00
Nigeria = $49.00 *You can't send money from a bank account from the US to Nigeria, so this fee is for paying with a credit or debit card
Pakistan = $20.00 *You can't send money from a bank account from the US to Pakistan, so this fee is for paying with a credit or debit card
Philippines = $3.99
Romania = $81.00 *You can't send money from a bank account from the US to Romania, so this fee is for paying with a credit or debit card
The bottom line about Western Union Fees:
The answer to the question “How much does it cost to send money with Western Union?” is: it can vary-A LOT! If you want to send money for cash pickup from your US bank account, this is will be more expensive than sending money on a bank account. Paying with a Credit Cards? You’ll have a worse exchange rate. Sending money to India from the UK or from the US? Different fees. Sending $100, $1.000, $10.000? Not the same exchange rates nor transfer fee.
Don't forget
Do your homework and know what the current mid-market rate is, and be sure to pay attention to the small print so you can get the best deal and avoid unnecessary costs. This is why you should always compare your options with a tool like Monito and see a breakdown of fees and how the currency provider's rate compares to the real mid-market rate when it comes to money transfers--you could be wasting a fortune .
Mobile apps
Western Union has an outstanding mobile app available on both Apple iOS and Google Android. The Western Union mobile app allows you to send money to 500,000 agent locations or 1 billion bank accounts worldwide, wherever you are and at any time. Western Union offers mobile apps for both iOS and Android smartphones and tablets. The app provides a good user experience and is very convenient. It’s rated 4.3 / 5 in the Google Play Store and 4.5 / 5 in the Apple App Store.
You can use a credit or debit card which you can scan within the app by using your camera. You can also set up your money transfer on the app but follow up and complete it by paying for it in cash at any agent location. With the Western Union mobile app, you can also track the progress of a past transfer, or estimate the fees or find a nearby agent location for a future transfer. The app offers one-touch fingerprint logins that enable fast transfers and excellent security.
How Western Union works
How to send money with Western Union online
- Register an account or, if you already have one, log into your account.
- Choose the country you would like to send money to, as well as the transfer amount and the pay-out method (e.g. cash pick-up, bank transfer, etc.).
- Enter your recipient’s name and other information such as their bank account details (if you are sending to their bank account) and telephone number (if you are sending to their mobile wallet). If you’ve already sent money to them before, you can simply select an existing receiver.
- Payment options depend on the country you are sending money from and to. You can alsways pay with with your debit or credit card. Other options include paying with your bank account by making a local bank transfer, by using an online payment system (for example, SOFORT, Trustly or iDEAL). You can also set up the transfer online and pay in cash withing a specified amount of time at an agent location near you.
- You'll get a confirmation by email with your unique tracking number (MTCN). If you’re sending money for cash pick-up, your recipient will need to provide the MTCN tracking number to collect the money.
How to send money with Western Union's mobile app
- Open the WU mobile app and tap “Send money”.
- Select the country you would like to send money to, and enter the amount you wish to send.
- Choose how the money should be received, and how you wish to pay for your transfer.
- If you’re not logged in, you’ll be asked to do so.
- Enter your recipient’s name and choose how you'd like them to receive the money: cash pickup, bank transfer or mobile wallet (options depend on where you are sending money from and to). If you are sending money to a bank account you need to enter the recipients bank account details; if you are sending to their mobile wallet you'll enter their mobile telephone number. If you’ve already sent money to them before, you can simply select an existing receiver. Note: if you opt to set up your transaction in the app but pay at an agent location, you will enter the recipient details on the app, select ‘Pay at a location’ and pay at the location with your ID and mobile number
- If you are not paying in cash, enter your credit or debit card information, or simply use your phone’s camera to scan your card.
- Review your transfer details, which includes your unique tracking number (MTCN). If everything looks good, simply tap send. If you are paying cash, go to an agent location to complete the transfer.
How to send money with Western Union at an agent location
- Find and go to an agent location near you.
- Fill out the money transfer form, and provide your recipient’s name and other information such as their bank account details (if you are sending to their bank account) and telephone number (if you are sending to their mobile wallet).
- Give the completed form to the Agent, and pay for your transfer with cash, debit or credit card (options depend on your location and the recipient's country).
- You’ll get a receipt with your unique tracking number (MTCN). Make sure to keep it. If you’re sending money for cash pick-up, your recipient will need to provide the MTCN to collect the money.
Looking to send money from or to a Western Union Agent? Read our guide on how to find the nearest Western Union agent location.
Western Union Transfer Limit
Transfer location | Service | Western Union Transfer Limit |
|---|---|---|
WU Online | In Minutes | Three Day | WU® Pay | $2,999 per money transfer |
WU Online | Next Day | Mobile | $500 per money transfer |
WU Online | Bill Payment | Quick Collect | $2,500 per seven days to a biller (some US states have limits to $400 only) |
WU Online | Prepaid services | limits vary according to the card issuer |
WU Online | Online FX International Payments | $10,000 per transaction and this limit can be raised |
WU Online | Via Smartphone | The same limits apply as online money transfers, but not all the same services are available. |
WU at an agent location | Cash Transfer | Usually no restrictions. However, for certain amounts and transfers, you may be subject to additional security and asked to provide additional information or documentation. Some countries set limits on how much money can be sent. |
WU on the phone | Phone transfer | From $300 to $2,500 |
Additional Information | These limits can be lower/higher in certain countries. Western Union transfer limits vary based on a number of factors: sender’s transfer history, sender’s & receiver’s location, chosen service, payment method, agent location limits, and country receive limits. These limits can be lower/higher in certain countries. Western Union transfer limits vary based on a number of factors: sender’s transfer history, sender’s & receiver’s location, chosen service, payment method, agent location limits, and country receive limits. | Source: https://wucare.westernunion.com/s/article/How-much-money-can-I-send-with-Western-Union?language=en_US |
FAQs about Western Union's services
There is no way to fully avoid Western Union fees, but they can be minimized:
- Compare Western Union fees with alternatives with Monito's comparison widget for international money transfers.
- Always use the Price Estimator before continuing with your transaction to check the WU transfer fees. While calculating Western Union fees take into account the hidden currency conversion cost- it might be quite a big chunk of your WU transfer fee. Comparison sites like Monito help you figure out the math and make sure you find the best deal.
- Use the online coupons offered by Western Union (ex. available on special occasions such as Thanksgiving or Cyber Monday) or on comparison websites.
- Make sure you're using the most affordable way to receive the money. The option to deposit the funds on a bank account versus picking up the cash at an agent location is almost always cheaper.
- Avoid credit card charges - Western Union or the card issuer may charge additional costs on your transactions.
- Send Western Union Transfer with WU partners (ex. In Walmart shops in Canada you get 5% off Western Union standard fees)
- Read the fine print and make sure all the data is correct. If there is even one typo, your transfer will have to be proceed once again. It means that you will have to pay twice the fees for the transfer.
- Do not make any changes in the transfer after it’s done. Changes = additional fees.
- Consider sending money with another money transfer operator with lower fees and better exchange rates. Compare your options and more money will arrive.
According to Monito's comparison, Western Union Online is always cheaper than going to a Western Union Agent near you. If you want to save even more, you can even compare all fees to find cheaper alternatives.
Western Union transfer can be tracked on the Western Union's website & via the WU mobile app. On WU.com website go to Track Transfer, on mobile, select the Track Transfer in the dropdown menu. Here are the information needed to track a transfer:
- The easiest way is to use the 10-digit MTCN number. The Money Transfer Control Number (MTCN) is a unique number assigned to each transfer. It can be found in the transfer history page on the web or mobile & on printed or emailed receipt.
- Otherwise, you can either identify the transfer with the Sender's phone number or the sender's and receiver's first and last name.
- Sometimes you can also be asked for: receiver's country, complete name, date the money was sent, amount sent and currency.
Depending on the delivery and payment methods chosen, the country of origin and destination of the transfer, the money can be picked-up in minutes or available within 3-5 working days. Usually, the quicker the transfer, the higher the fees are. Here's an overview of the different Western Union transfer times by service:
Delivery time is based on service type:
- Money in Minutes (pick up at an agent’s location) - within a few minutes
- Next Day (pick up at an agent’s location) - the next (working) day
- Direct to bank deposit - 2-5 working days
- Mobile Money Transfer (transfer to a receiver’s mobile wallet)
The time of delivery depends on the following factors: service selected and special T&C applicable to a given service, amount sent, destination country, delivery restrictions, agent location hours, time zones etc.
Here are the Step-by-step instructions of filling out a Western Union money order.
First, complete the Send Money section of the form.:
- Write down a payee name - the name of the person or business you are addressing the money order to and the receiver’s details.
- Provide all necessary information about a Sender/Remitter/Purchaser (that's you): full name, address, e-mail address, and phone number.
- Provide information about destination country and destination currency.
- Sometimes you will be asked also to provide Test Question with an answer, which the payee will need to know and be able to answer in order to receive the money. However, it is not required for all countries.
- Sing the front of the money order. Do not sign the back of the document because this is where the recipient signs to get the money.
- You will get the money order receipt with tracking information (MTCN number). This number is needed to pick up the money and to monitor your money order.
Remember: Fill out money order in large, dark letters so the details are clear and it is difficult to alter your writing. There should be no alterations once the money order is processed.
At most Western Union agent locations there no need to fill out the paper money orders anymore. The data you provide is processed digitally at the counter. However, in some countries filling out a paper form is still required.
A Western Union money order can be cashed in over 500,000 Western Union agent locations worldwide. or at a bank or other check-cashing locations.
To find a Western Union agent location near you, go to the Agent Locator on WU's website, provide the address, city or postal code where you’d like to cash your money order.
You'll find a map with agent locations (with telephone contact number & opening hours and service available). To check if an agent provides a given service, click on its name (on the left) and choose Hours & Info. Under an agent's address, there is also the information about maximum payout limits. It’s worth checking because many agent locations have restricted payout limits.
Western Union Speedpay used to be a US domestic bill payment service offered by Western Union. In the first quarter of 2019, the service has been acquired by ACI Worldwide. The service is now available at Speedpay website. Source
Yes, Kroger has teamed up with Western Union to provide money services. The money transfers can be sent online or in any of the 1951 store locations in the US.
The following money services are available at Kroger: money transfer, cash checks, bill payments, money orders.All Kroger Money Services locations can be found here.
More info can be found on Kroger Money Services website.
- In the US Walmart doesn’t have a partnership with Western Union. To send money in Walmart you can use the following services: Walmart2Walmart (using Ria Money Transfer's service) or Walmart2World, (using Moneygram's service and agent network).
- In Mexico, Western Union money services are available in Walmart stores (Walmart de Mexico y Centroamérica). Customers can send and receive their money transfer transactions across 1,266 Walmart-owned stores across Mexico (Bodega Aurrera, Mi Bodega Aurrera, Walmart, Superama and Suburbia stores) in all of Mexico’s 31 states and in Mexico City.
- In Canada Western union offers Consumers Western Union Money Transfer in +330 locations across Canada. It includes the following services: money transfer, money pick-up & bills payment.
Sources: https://www.walmart.com/cp/online-money-transfers/1089406 https://www.walmart.ca/en/financial-services/money-transfers http://ir.westernunion.com/default.aspx?SectionId=5cc5ecae-6c48-4521-a1ad-480e593e4835&LanguageId=1&PressReleaseId=1452be72-609d-4de9-8b5d-91baa93acfd2
The story behind Western Union
The Western Union Telegraph Company was born in 1851 after the fusion of the “New York and Mississippi Valley Printing Telegraph Company” and the “New York & Western Union Telegraph Company”.
While the company initially operated a telegraph service, Western Union started to offer a way to transfer money (the “wire transfer”) over its telegraph network throughout the United States in 1871. When the telephone started to replace the telegraph, money transfers became Western Union’s primary line of business.
After divesting from its telecommunication activities in the 80s, Western Union started sending money outside the US, and positioned itself as "The fastest way to send money worldwide". In 2000, Western Union launched WU.com to offer digital money transfer services, and later launched its mobile money transfer service in 2007. In 2009, Western Union acquired foreign exchange company Custom House for $370 million to start offering payment solutions to businesses under the name Western Union Business Solutions.
In 2015, the company launched WU Connect to allow social media users to send money through Western Union’s platform. The first integrations were made with WeChat and then Viber, and the company intends on continuing to grow the number of integrations with 3rd party platforms.
Compare Western Union's exchange rates and fees
Western Union versus its competitors
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- TransferWise vs Western Union. Which one is the solution for you and your money transfer needs? Which option should you choose if you need to send or receive money internationally? Check out our comparison of the pros and cons of each…
Why you can trust Monito's reviews
Monito's mission is to help you (and thousands of others each day) find the best providers for your money transfers.
We do that by providing real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writting in-depth reviews about money transfer providers.
We have partnerships with many money transfer providers (Western Union included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.
We put a lot of efforts to review money transfer providers like Western Union in details and based on objective and verifiable criteria. A good example of that is the in-depth User Experience Benchmark Study we conducted in August 2018.
Compare Western Union to 300+ other providers
Questions you may have
Read our guides on sending money abroad
- When it comes to exchanging money, paying for your transfer, understanding exchange rates and more, it’s important to understand what all the details mean. We’ve got you covered, with our complete Monito glossary and guide to the main…
- In August 2018, in partnership with the user-testing platform UserBrain, Monito published a benchmark study of 10 leading money transfer services. You will find the highlights of this study on this page, but download the report to get …
- How can you make the most of your currency exchange when you transfer large sums of money across borders? By finding the right money transfer company for your needs. When making large money transfers there are two key details to consid…
- Each Venmo transfer needs the sender and beneficiary to be physically in the US, so you can’t use it to send money abroad to a friend or family. If you’re looking for the best & cheapest way to send money internationally, you can comp…