Western Union International Money Transfer Review 2023

Western Union is one of the world’s oldest money transfer services.

With roots snaking back to the 19th century, Western Union has done more than just withstand the test of time – it’s sprinted ahead of it. This goliath of money transfer services pioneers international money moving as we know it, having served millions of customers across nearly every nook and cranny of our planet.

This article is an exploration of Western Union as it stands in 2023. Here, we’re about to unpack everything you need to know about this financial superstar: its numerous features, the costs of using its services, what online reviews speak about, and much more!

Who are Western Union?

Western Union is a company that’s been around since before phones were even a thing. We’re not kidding – this company has been alive and kicking since 1851. So, they’ve seen some stuff, to say the least. Over the decades, they’ve transformed, adapted, and grown from a small telegraph company into one of the world’s largest and most recognized financial services corporations.

In the complex world of finance, it’s not every day you come across a company that’s as old-school yet refreshingly modern as Western Union. They’ve maintained their originality while staying relevant, blending traditional business values with digital-age dynamism. And that’s why they’re more than just a money transfer service – they’re an institution.

With headquarters sitting pretty in Denver, Colorado, Western Union has a foothold in over 200 countries and territories worldwide. That’s more than the number of countries competing in the Olympics, mind you. So, if you throw a dart on a world map, there’s a pretty high chance it’ll land somewhere they operate. They’ve done their legwork, earning a reputation as a trusted bridge connecting people and their resources, and they’ve got the global network to back it up.

What makes Western Union a true heavyweight in this industry, aside from their extensive history, is their sheer versatility. Whether you want to send money to your cousin in Costa Rica, pay your freelance designer in Bangladesh, or support a charity in Botswana, Western Union’s got you covered. 

Let’s not forget their user-friendly mobile app. You can make international transfers with this app while having breakfast cereal in your pajamas at home.

What sets them apart, though, is their commitment to making a difference. Through the Western Union Foundation, they’re making strides in fields like education, economic opportunity, and disaster relief, touching lives all over the globe. In short, they’re not just moving money; they’re moving hearts too.

Western Union Pros & Cons

	Pros	Cons
1.	Multiple payment options – Western Union provides flexibility by accepting several forms of payment. You can fund your transfer with a bank account, credit card, debit card, or even cash at an agent location.	Not suitable for large money transfers – Western Union’s services are typically aimed at smaller, more frequent transfers. With a cap of $50,000 for most transfers (or as low as $3,000 without identity verification), it might not be the best fit for those needing to move substantial amounts of money.
2.	Cash pickup option – This feature allows recipients to pick up cash at any Western Union agent location worldwide. It’s perfect for situations where the receiver may not have a bank account or simply prefers cash.	High transfer fees – Depending on your location, the amount you’re sending, and your payment method, Western Union’s fees can be relatively high. For instance, payments made with a credit card can have fees of up to $100.
3.	High Trustpilot rating – Trustpilot is a popular consumer review website, and Western Union boasts a strong score here (3.8/5). A high rating indicates that many customers have had positive experiences with their services.	High exchange rate margins – Western Union’s exchange rates often include a markup of 1% to 5% above the mid-market rate. While still usually cheaper than traditional banks, it’s more expensive than some other fintech competitors in the market.
4.	Fantastic mobile app – Western Union’s mobile app is highly rated on both iOS and Android platforms. It allows users to send money, track transfers, and manage their accounts on the move.	No business hedging options – Hedging options like forward contracts and limit orders, which help businesses manage currency risk, aren’t available with Western Union. This might be a downside for businesses that need to lock in future rates or wait for a specific rate before making a transfer.
5.	Lots of experience – With over a century of operations under its belt, Western Union knows a thing or two about money transfers. This long history suggests stability and a deep understanding of the industry.
6.	Extensive knowledge base – Western Union provides a comprehensive help center online, complete with FAQs, guides, and tips to help customers make the most of their services.
7.	Highly convenient – With online, phone, and in-person services, plus a vast network of global agent locations, Western Union provides a convenient way to send and receive money no matter where you are.
9.	Global service coverage – Western Union offers its services in nearly every country around the globe. This vast coverage makes it an excellent choice for international money transfers. The company boasts over 550,000 agent locations worldwide.
10.	Solid currency coverage – Western Union supports about 130 different global currencies, meaning you can send and receive money in numerous countries without worrying about currency compatibility.
11.	Fast money transfers – Depending on the service you choose and the destination, Western Union can transfer money in as little as a few minutes, making it an excellent choice for urgent transfers.
12.	Fee and rate estimator – Before you make a transfer, Western Union’s online estimator tool allows you to see the fees and exchange rates, so there are no surprises.
13.	Convenient rewards program – The My WU membership program rewards loyal customers with points for every transfer, which can be redeemed for discounts on future transfer fees.

Western Union Key Attributes

• Founded: 1851
• Headquarters: Denver, CO, United States
• Other offices: Besides their headquarters in Denver, Western Union has corporate offices across the world, in countries such as Brazil, Sweden, Australia, New Zealand, Poland, Austria, Canada, France, Germany, Italy, China, Japan, Malaysia, Malta, Singapore, Switzerland, South Korea, United Kingdom, etc.;
• Annual trading volume: The latest data on transactional volume from Western Union is from 2017, when the company used to facilitate about 32 transactions every second. That resulted in over $300 billion in trading volume, making Western Union the top international money transfer organization in the world, with over 20% share of the global market;
• Number of employees: Western Union boasts over 10,500 employees. That’s an army of finance experts dedicated to making your global money transfer journey as smooth as possible;
• Trustpilot rating: When it comes to the Trustpilot scale, they’re sitting comfortably with a 3.9 out of 5-star rating. That’s a solid grade, showcasing the company’s commitment to delivering a top-notch service;
• Number of clients: Western Union isn’t just serving a handful of customers; they’re playing in the big league with over 150 million regular, retail, and digital customers per year. For some comparison, that’s more than the population of Russia;
• Available countries: With Western Union, the world is truly your oyster (except for Iran and North Korea, that is). With a staggering 550,000 agent locations scattered around the globe, their reach is unsurpassed;
• Number of currencies: Western Union offers a myriad of currency options, dealing in approximately 130 global currencies. From Aussie dollars to Zambian kwacha, you’re covered in whatever you may need;
• Minimum transfer limit: Optimized for small money transfers and remittances, Western Union doesn’t impose a minimum transfer limit;
• Maximum transfer limit: With Western Union, you can send up to $50,000 depending on the destination and the service you choose. But remember, you can only send up to $3,000 without verifying your identity.;
• Transfer fee: Transfer fees vary. They could be as low as $0-$15 or as high as $100, depending on your location, transfer amount, and payment method;
• Exchange rate markup: Western Union’s exchange rate markups, which are added to the mid-market rate, can range from 1% to 5% above the mid-market rate. This makes Western Union one of the more expensive options on the market, although, still a more convenient alternative to traditional banks;
• Sending money: Western Union provides a bunch of options to send money. You can use a bank account, debit card, credit card, or even cold, hard cash at one of their agent locations;
• Receiving money: Payout is available for billions of bank accounts and mobile wallets worldwide or via cash pickup at agent locations;
• Payments flexibility: With Western Union, you can make your payments via their online platform, mobile app, or even over the phone. If you’re a fan of the old-school way, you can visit an agent location to make cash payments;
• Supported languages: Western Union speaks your language quite literally. They offer services in a laundry list of languages, including English, Spanish, French, Danish, Norwegian, Turkish, German, Italian, Russian, Swedish, Chinese, Dutch, Polish, Ukrainian, Portuguese, Japanese, and Finnish;
• Regulated by: The company is as legit as it gets, being regulated by heavyweight bodies like the Financial Conduct Authority (FCA) in the UK, AUSTRAC in Australia, FINTRAC in Canada, and everywhere else they do business. In the US, the company is authorized for work in 49 states and the District of Columbia;
• Mobile app: If you’re big on technology, then you can conveniently use Western Union on your smartphone. Their highly-rated apps for iOS (4.8/5 rating) and Android (4.6/5 rating) devices put global transfers right at your fingertips;
• Awards: Western Union isn’t just great – they’re award-winning great. Their shelf is brimming with numerous awards for their excellence and experience, a testament to their standing as a leader in the financial world. Here are some of their latest accolades:
  • Digital Edge 25 Awards (2016);
  • Payments Innovation of the Year (2016);
  • Candidate Experience Award (Talent Board, 2017, 2018);
  • “Way to Go” Champion Award (Denver Regional Council of Governments, 2019);
  • Regional Partner Award (Education for Employment, 2019);
  • Humanitarian Logistics Award (American Logistics Aid Network, 2020);
  • Consumer Payments Innovation Award (FinTech Breakthrough Awards, 2021).

Western Union Features

Today, enjoying the benefits of having an online account isn’t just about convenience – it’s an expectation. And Western Union is happy to meet and exceed that expectation. They’ve crafted a digital platform so streamlined and feature-rich that it could very well be the “Tesla of Online Money Transfer Services.” 

Having a Western Union online account is like having a personal financial assistant on standby 24/7. With just a few clicks or taps, you can transfer money anywhere in the world, monitor your transaction history, and even save beneficiary details for future transfers.

And there’s more: with your online account, you’ll have access to real-time exchange rates, enabling you to time your transfers when the rates are in your favor.

Types of Money Transfers and their Benefits

Western Union offers a buffet of money transfer options, catering to the unique needs of its global clientele. Let’s dive into the main options:

• Online Transfers
  For the tech-savvy users among us, online transfers are a breeze. Send money to any corner of the world, all while lounging in your backyard. Plus, with Western Union’s “Money in Minutes” service, your funds can reach the recipient faster than you can say “international money transfer”.
  
  
• Mobile App Transfers
  Always on the go? Western Union’s mobile app has got your back. The app offers all the functionalities of the online platform but in a handy, pocket-sized package. Quick, easy, and highly intuitive, this app is the best companion for financial management for the digital nomad.
  
  
• Cash Transfers
  For those who prefer tangible transactions, Western Union hasn’t left you out in the cold. You can visit any of their numerous agent locations and send money in cash. This service is a lifesaver for recipients who prefer or need to pick up cash.
  
  
• Phone Transfers
  Western Union even offers phone transfers for folks who prefer to handle their financial matters verbally. Just call them up, provide the necessary details, and your money will be on its way.
  
  
• Bank Transfers
  For every traditionalist, Western Union also supports direct bank transfers. It’s a reliable, secure way to send significant amounts directly to the recipient’s bank account.

Every option comes with its own set of benefits, but they all share a common denominator: simplicity, reliability, and speed.

Additional Western Union Features

If you’ve ever longed for a safer, more secure alternative to personal checks or carrying large amounts of cash, then money orders might just be your financial fairy godmother. And who better to guide you through this realm than the seasoned veterans at Western Union?

A Western Union money order is essentially a prepaid check. You pay the amount you wish to send plus a small service fee, and in return, Western Union provides a neat little document that can be cashed or deposited by the recipient.

Now, let’s take a look at the benefits of these nifty tools:

• Security
  Money orders are far safer than sending cash through the mail or carrying it around in large amounts. If a money order is lost or stolen, Western Union can stop payment on it and even replace it. Try doing that with a wad of cash!
  
  
• Anonymity
  Unlike checks, money orders don’t contain personal banking information. Your recipient won’t be privy to your bank account or routing numbers.
  
  
• Budgeting
  Money orders require upfront payment. This means you can’t bounce a money order for insufficient funds, making them a great tool for budgeting and controlling spending.
  
  
• Acceptability
  Money orders are widely accepted. Even entities that may not accept personal checks, such as landlords or utility companies, usually accept money orders.
  
  
• Proof of Payment
  A money order stub serves as proof of payment. It’s like having a paper trail for your cash, making it easier to handle any disputes or misunderstandings.

Western Union International Money Transfer Costs

Let’s take a closer look at what a Western Union transaction might cost you.

Transfer Fees

Western Union’s transfer fees follow the “sliding scale” principle. No, that doesn’t mean they’re slippery, just that they vary based on a few key factors:

• Your location: The fee to send money from New York may differ from what you’d pay in New Delhi;
• The destination: Sending money to Japan might cost differently than sending the same amount to Jamaica;
• The amount: If you’re sending a small amount, the fees are generally lower. The more you send, the higher the fees;
• Your payment method: Paying via a US checking account can score you lower fees. On the flip side, paying with a credit or debit card might up the ante.

For instance, some transfers might come with a fee that can range between $0 and $15. Others, especially those involving credit card payments or sending to less-frequented locations, might rack up a transfer fee of up to $100.

In any case, it’s good to mention that, usually, Western Union offers a promotion to make your first money transfer fee-free.

Exchange Rates

Western Union applies an exchange rate markup, which ranges anywhere between 1% to 5% above the mid-market rate. This percentage can vary based on the currency pair involved in the transfer.

Although this might make Western Union a slightly pricier option compared to some money transfer services, they’re generally cheaper than traditional banks. So, you might be paying a bit for the convenience, speed, and reach that Western Union offers.

Additional Fees

Remember, if you’re using a credit card to fund your transfer, your card issuer might consider it a cash advance. This could attract additional charges and even interest from your card issuer.

A bank transfer may also incur some additional costs which are beyond the scope of Western Union.

The bottom line? Always make sure to check the fees and exchange rates for your specific transfer before you hit the “Send Money” button. Western Union’s website and mobile app provide a convenient estimator tool for this very purpose. Transparency is key, and Western Union hands you the flashlight.

How Safe is Western Union?

“Is my money safe?” is the big question on everyone’s mind when it comes to money matters. Well, when it comes to Western Union, you can bet your last dollar it is.

Western Union doesn’t just talk the talk; they walk the walk when it comes to security. They employ a host of safety measures to ensure your money reaches its intended destination without a hitch.

Precautionary Measures

First off, Western Union is no newbie. With over 150 years in the business, they’ve had plenty of time to perfect their security infrastructure. Here’s what they’re doing to keep your transactions secure:

• Secure Transmission
  All transactions conducted via Western Union’s online platform or mobile app are encrypted using secure socket layer (SSL) technology.
  
  
• Fraud Prevention
  Western Union uses sophisticated fraud prevention and detection systems. They constantly monitor transactions for any unusual activity, and if something smells fishy, they won’t hesitate to flag it.
  
  
• Identity Verification
  To prevent identity theft, Western Union employs strict customer verification procedures. New users may be required to provide identification documents to confirm their identity.
  
  
• Privacy
  Western Union is committed to safeguarding your personal information. They comply with global data protection laws and have robust policies in place to ensure your information isn’t misused.

Regulatory Authorization:

Western Union doesn’t just run on good intentions – they’re backed by heavy-hitting regulatory bodies worldwide. They’re authorized to operate by:

• the Financial Conduct Authority (FCA) in the UK;
• FINTRAC in Canada;
• AUSTRAC in Australia;
• Various regulating bodies in 49 US states and the District of Columbia.

How Fast is Western Union?

With Western Union, the phrase “speed of light” isn’t an overstatement – it’s a reality. Depending on the type of service you choose, Western Union can deliver your funds in as little as a few minutes. That’s right, not days, not hours, but minutes.

Their “Money in Minutes” service does exactly what it says on the tin: it delivers your money to the recipient, ready for cash pickup at an agent location, within minutes. This service is ideal when you need to get money to someone pronto, whether it’s a family emergency or a last-minute birthday present.

If you’re transferring money to a bank account, it typically takes one to three business days. But the speed can vary depending on the destination country, the receiving bank, and the payment method.

Western Union makes it as easy as possible to send money quickly. Their online platform and mobile app are designed for seamless navigation and quick input of transfer details. If you’re a repeat customer, the system saves your past recipient details, which can shave precious minutes off future transactions.

Compared to the industry average, Western Union definitely sets the pace. Many international money transfer services take two to five business days to complete a transfer. So when it comes to speed, Western Union isn’t just keeping up – they’re lapping the competition.

So, whether you’re fastidious about financial planning or a habitual last-minute sender, Western Union has got your back with their lightning-quick transfer times.

How to Use Western Union

Using Western Union is as simple as tying your shoelaces. Maybe simpler if you’re the kind of person who trips over them occasionally. Here’s your step-by-step guide to becoming a Western Union whizz in no time:

• Step 1: Set Up Your Account
  Whether you’re going online or mobile, your first stop is creating an account. Just navigate to Western Union’s website or download their app, and look for the “Register” or “Sign Up” button. A few personal details later (name, contact info, and such) and you’re all set.
  
  
• Step 2: Start a Transfer
  Got an account? Brilliant. Now, it’s time to send some money. Log into your account and click on the “Send Money” button.
  
  
• Step 3: Enter Transfer Details
  You’ll need to enter some details about your transfer:
  • Recipient’s information: Who’s the lucky person on the other end? You’ll need their name and contact information. If you’re sending directly to a bank account, you’ll also need their banking details;
  • Transfer amount: How much moolah are you sending? Enter the amount, and you’ll see the transfer fees and exchange rate right away. No hidden fees, no nasty surprises;
  • Payment method: You’ve got options here. Pay by debit or credit card, directly from your bank account, or in cash at a Western Union agent location.
    
    
• Step 4: Review and Confirm
  Before you hit “Send,” take a moment to review your transfer. Check the recipient’s information, the amount, and your payment method. If everything looks good, go ahead and click “Send”.
  
  
• Step 5: Track Your Transfer
  After you’ve sent your transfer, you can track its progress right from your account. You’ll also receive an email confirmation with a tracking number (MTCN). Share this number only with your recipient as they’ll need it to pick up the money if they’re collecting in cash.

And that’s it! You’re now a fully certified, bona fide Western Union user.

Western Union’s Cancellation Policy

In an ideal world, every money transfer would be perfect from the get-go. But, we’re all human, and sometimes we need to hit the “undo” button.

When it comes to cancellations and refunds, Western Union has a system in place that’s quite effective in its purpose. Here’s the scoop:

If your money hasn’t been picked up or deposited, you can request a cancellation right from your Western Union account. Just log in, find the transfer you want to cancel, and click on “Cancel transfer”. You’ll need to give a reason for the cancellation, but it’s nothing to worry about. Western Union just wants to understand each situation and help you better.

Once you’ve canceled, Western Union will refund the principal amount of the money transfer. That’s the sum you sent, not including transfer fees. Why don’t they refund the fees? Well, even canceled transactions use resources and time. However, if the cancellation was due to a fault on their end, you’d likely get a full refund, including fees.

The refund will typically be issued using the same payment method you used for the transfer. So if you paid by debit card, the refund would go back to that card.

Now, let’s talk about the difficulty level. Canceling an international money transfer with Western Union isn’t akin to solving a Rubik’s cube – it’s generally straightforward. But remember, timing is key. Once the funds have been picked up or deposited, there’s no turning back and the transfer cannot be canceled.

So, whether it’s a case of “oops, wrong amount” or “hold on, wrong person”, Western Union’s cancellation policy has got you covered. Just act swiftly, and they’ll help steer your ship back to port.

Western Union Customer Service

Regarding customer service, Western Union strives to be at hand whenever its customers need any assistance. They’ve laid out a variety of support options to ensure they’re there at any time, like a trusty Swiss Army knife for all of your financial needs.

Western Union provides several avenues for customer support:

• Online FAQs
  Their website features an extensive FAQ section covering a wide range of topics. There, you can find answers to anything – from how to send money to what to do if something goes wrong. It’s your first port of call for quick answers.
  
  
• Email Support
  Prefer to write? You can drop them a line via email. They aim to respond within a day, but during peak times, it may take a bit longer.
  
  
• Phone Support
  Sometimes, you just need to talk to a human. In such cases, Western Union’s phone support team is on standby. They’ve got dedicated lines for different regions, so you can chat with someone who knows your local context.
  
  
• In-person Support
  If you’re near one of Western Union’s agent locations, you can walk in and speak to an associate. They can help with everything from setting up a transfer to resolving issues.

Now, what’s the word on the street about Western Union’s customer service? Overall, the vibe is positive. With a Trustpilot rating of 3.9 out of 5 stars, they’re certainly doing something right. Customers often praise the helpful and responsive customer service, saying that the team goes the extra mile to resolve issues.

Of course, as with any service, there are occasional hiccups. Some users have mentioned long wait times or difficulties reaching customer service during peak periods. But it seems Western Union takes this feedback seriously, continually refining their service to keep their customers satisfied.

How Does Western Union Compare With Its Competitors?

Western Union’s got some street cred in the money transfer game, and they’ve earned it. But how do they fare when put head-to-head with other big fish in the fintech pond? Let’s find out.

Western Union is a heavyweight contender, with a huge global footprint. With over 550,000 agent locations worldwide and a presence in almost every country on the planet, they’re genuinely universal. Only MoneyGram can match this level of accessibility and reach.

Where they truly shine is in their versatility. Offering multiple ways to send and receive money (online, in-person, through an app, and by phone) Western Union is the utmost modern toolkit for money transfers.

But even the best have their weaknesses. Western Union’s weak spot can be their fees and exchange rate markups. While they offer a sliding scale of transfer fees that can be as low as $0-$15, fees can also climb up to $100, depending on the conditions of the transfer.

The exchange rate markup, which can range from 1% to 5%, is higher than most of their competitors, who usually charge a 1%-3% profit margin. That being said, they’re still typically cheaper than traditional banks.

Speed-wise, Western Union is the Usain Bolt of the money transfer world, offering services like “Money in Minutes.” However, several digital-first platforms are hot on their heels, offering instant transfers for certain corridors.

Finally, when talking about customer service, Western Union is often lauded for their commitment to customer satisfaction. While the occasional hiccup is inevitable, they generally keep their customers happy and feeling secure.

Below you can overview how this mammoth of a company compares to some similar providers, such as MoneyGram, WorldRemit, and Currencies Direct.

Western Union vs. MoneyGram

Feature	Western Union	MoneyGram
Founded in	1851	1940
Trading Volume	$300 billion in 2017	Not specified ($1.3 billion in revenue in 2022)
Trustpilot Rating	3.9 / 5	4.5 / 5
Suitable for	Small and medium money transfers and remittances	Small money transfers and remittances
Transfer Fee	Based on the sender’s location, transfer amount, and payment method. Most transfers come with a transfer fee that’s as low as $0-$15, but some can be as high as $100 if sending to an exotic location or paying by credit card.	Depends on your location, the amount you’re sending, and your payment method. Some transfers come with a transfer fee that’s as low as $0-$15 and others, such as paying with a credit card to an exotic location, can generate up to $100 in transfer fee.
Average Exchange Rate Markup	A profit margin ranging from 1% to 5% added to the mid-market rate.	A profit margin ranging from 1% to 5% added to the mid-market rate.
Minimum Transfer Amount	$1 (or currency equivalent)	$1 (or currency equivalent)
Maximum Transfer Amount	Depending on the sender’s country: $50,000 if identity verified; $3,000 if identity isn’t verified.	$10,000 per online transfer for most countries (with a $10,000 as a monthly cap); $25,000 for online transfers to 42 select countries from the United States.
Transfer Speed	Within minutes for transfers made in cash or by debit card; 1-3 business days for transfers between bank accounts.	Within minutes (cash transfers); 1-3 business days (bank and debit card transfers).
Dedicated Dealer	No	No
Countries Covered	Over 200 countries and territories worldwide	Over 200 countries and territories
Currencies Covered	About 130 global currencies	About 60 global currencies
Payment Methods	Bank account, debit card, credit card, and cash	Bank account, credit or debit card, and cash
Receiving Methods	Bank account, debit card, mobile wallet, and cash pickup	Bank account, debit card, cash pickup, mobile wallet, and home delivery.
Cash Pick-Up Option	Yes (about 550,000 locations worldwide).	Yes (about 380,000 locations worldwide).
Instant Custom Quote	Yes	Yes
Business Features	No	No
Flagship Debit Card	Yes (Netspend®)	No
Mobile App	Yes	Yes
Cancellation Policy	Cancellations are possible as long as the money hasn’t been claimed by the recipient.	Cancellations are possible as long as the money hasn’t been claimed by the recipient.

Read our full MoneyGram review.

Western Union vs. WorldRemit

Feature	Western Union	WorldRemit
Founded in	1851	2010
Trading Volume	$300 billion in 2017	~$10 billion
Trustpilot Rating	3.9 / 5	3.9 /5
Suitable for	Small and medium money transfers and remittances	Remittances and small money transfers
Transfer Fee	Based on the sender’s location, transfer amount, and payment method. Most transfers come with a transfer fee that’s as low as $0-$15, but some can be as high as $100 if sending to an exotic location or paying by credit card.	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods
Average Exchange Rate Markup	A profit margin ranging from 1% to 5% added to the mid-market rate.	0.5% – 2.5% added to the mid-market exchange rate (1% – 1.6% on average)
Minimum Transfer Amount	$1 (or currency equivalent)	$1 (or currency equivalent)
Maximum Transfer Amount	Depending on the sender’s country: $50,000 if identity verified; $3,000 if identity isn’t verified.	Depends on the selected countries and method of payment (ranges between $1,000 and $9,000)
Transfer Speed	Within minutes for transfers made in cash or by debit card; 1-3 business days for transfers between bank accounts.	0-2 business days on average (within minutes in 95% of cases)
Dedicated Dealer	No	No
Countries Covered	Over 200 countries and territories worldwide	Sending from over 50 countries; Receiving to over 145 countries
Currencies Covered	About 130 global currencies	Over 70 currencies
Payment Methods	Bank account, debit card, credit card, and cash	Bank account, credit/debit/prepaid card, Apple Pay, POLi, Interac, iDEAL, Trustly, and Klarna/SOFORT
Receiving Methods	Bank account, debit card, mobile wallet, and cash pickup	Bank account, mobile wallet, cash pickup, and home delivery
Cash Pick-Up Option	Yes (about 550,000 locations worldwide).	Yes
Instant Custom Quote	Yes	Yes
Business Features	No	No
Flagship Debit Card	Yes (Netspend®)	No
Mobile App	Yes	Yes
Cancellation Policy	Cancellations are possible as long as the money hasn’t been claimed by the recipient.	Only when the transfer hasn’t been paid out. Bank and mobile wallet transfers may be refunded even after the transfer is completed if the recipient agrees to the refund.

Read our full WorldRemit review.

Western Union vs. Currencies Direct

Feature	Western Union	Currencies Direct
Feature	Western Union	Currencies Direct
Founded in	1851	1996
Trading Volume	$300 billion in 2017	£9.5 billion in 2021
Trustpilot Rating	3.9 / 5	4.9 / 5
Suitable for	Small and medium money transfers and remittances	Large money transfers
Transfer Fee	Based on the sender’s location, transfer amount, and payment method. Most transfers come with a transfer fee that’s as low as $0-$15, but some can be as high as $100 if sending to an exotic location or paying by credit card.	No fee
Average Exchange Rate Markup	A profit margin ranging from 1% to 5% added to the mid-market rate.	0.4% to 1.4% on mid-market rates
Minimum Transfer Amount	$1 (or currency equivalent)	£1
Maximum Transfer Amount	Depending on the sender’s country: $50,000 if identity verified; $3,000 if identity isn’t verified.	£25,000 through the mobile app; 300,000 by placing a special request
Transfer Speed	Within minutes for transfers made in cash or by debit card; 1-3 business days for transfers between bank accounts.	12-24 hours within Europe; 24-48 hours for overseas transfers.
Dedicated Dealer	No	Yes
Countries Covered	Over 200 countries and territories worldwide	Over 200 countries
Currencies Covered	About 130 global currencies	Over 70 currencies
Payment Methods	Bank account, debit card, credit card, and cash	Bank account, credit/debit card, or check
Receiving Methods	Bank account, debit card, mobile wallet, and cash pickup	Bank account
Cash Pick-Up Option	Yes (about 550,000 locations worldwide).	No
Instant Custom Quote	Yes	No. Quotes are available through email for registered users
Business Features	No	Spot contracts, forwards contracts, limit orders, stop-loss orders, recurring transfers, digital multi-currency wallet, rate alerts, and API portal
Flagship Debit Card	Yes (Netspend®)	No. A card for international travelers is available through a third-party service (WeSwap)
Mobile App	Yes	Yes
Cancellation Policy	Cancellations are possible as long as the money hasn’t been claimed by the recipient.	No

Read our full Currencies Direct review.

Western Union Customer Reviews

No matter what we say about Western Union, at the end of the day, it’s the customers who do the talking. So, let’s put our ears to the ground and break down the things they’re saying.

On Trustpilot, one of the most prominent platforms for customer reviews, Western Union has a solid rating of 3.9 out of 5 stars. That’s not just a passing grade – that’s quite high in the school of customer satisfaction.

Many customers praise Western Union for its ease of use and convenience. The user-friendly website and app, combined with the ability to send money in various ways, are a big hit among customers.

Quick transfer times are another crowd-pleaser. For many customers, Western Union’s promise of delivering money in minutes isn’t just a marketing slogan but a reality. And in a world where time is money, this feature is worth its weight in gold.

A large number of customers also appreciate Western Union’s vast global network. The ability to send money to almost any corner of the world is like having a teleportation device – it breaks down geographical barriers and brings people closer.

Of course, no company is without its critics, and Western Union is no exception. Some customers have pointed out higher fees and exchange rate markups compared to other services. But given Western Union’s extensive reach and quick transfer times, many users see this as a reasonable trade-off.

Another point of contention for some customers is the customer service, which can be a mixed bag. While many customers have had positive experiences, others have faced longer waiting times or communication difficulties.

Positive Western Union Customer Reviews

Reliable way of sending money to your loved ones. The convenience of sending money in various locations including your personal computer, received in minutes by your recipient, at reasonable fees for sender, are what makes Western Union a major player in the remittance options.

– Joseph Sellner

The gal at Walmart was okay; she forgot to mention that my recipient needed to have an American Government Identification. I called the helpline and the gentleman was patient and courteous. He was also fast and smart. Thank you

– Theresa

Been a customer for a long time. The service was awful. About two-years ago, things changed. I really like the service, I send money to friends all over and there is rarely a problem. It’s really good to see a company completely turn itself around. Some great leadership, somewhere and a great team at WU. Thanks!

– Mark Vella

You can’t get a better experience with the latest software you guys are using. The most important thing that made this so successful is how easy it is to use it! Can’t stress that enough! That’s what made it so great to use and will continue to use in the future! Great job engineers!

– Ree

Customer Service is GREAT! I was unable to use my credits to offset the cost of sending money. I called customer service and they were able to assist me in manually inputting the code so I could complete my transaction. I had been trying this for months and just paid the fee but had banked a number of points that I really wanted to use. Thank you!

– Les

Negative Western Union Customer Reviews

Why is it taking so long now, when it used to be minutes only? I’m not sure what’s happening, but the last few times that I sent money, it took a week for it to be received! Can you please tell me why that is? It used to be minutes only when I send money, now it takes at least a good five days or more! Today for example, instead of receiving it in minutes in the Philippines, the receiving date says next week. It has been happening in my last few sends. Thinking of switching to other money senders but giving you a chance to explain it. Thank you.

– Fleda Ramos

Very poor dependability and communication. Really didn’t appreciate putting my trust in Western Union to effectively deliver money for my only child every month for years then suddenly I’m blocked with no explanation provided. Then being told more than a week later I’m unblocked. My child’s food and well-being depended on the money and that was a big deal to trust you guys with that when that happened. I’m currently with MoneyGram, and at a lower remittance cost. Thanks for the service over the years.

– Ricardo

Told you how your site restricts my attempts to use points for partial fee payment. You replied with a phone number to call for assistance. For the next transfer, I called. Spent fifteen minutes with your representative, who tried this & that but seemed to know nothing about points. Finally gave up.

Would have told you then but your site makes me interrupt sending transaction numbers to tell more of experience. Having delayed talking, I had no time. Also then must download the PDF of the transaction rather than send an automatic message. Further, requiring a transaction number or WU number makes me leave the review page, possibly never to return. Actually, three stars is kind.

– Mike

Western Union Alternatives

CurrencyFair

While Western Union has long been a household name in the world of international money transfers, CurrencyFair has entered the scene with all the swagger of a promising newcomer. Let’s dive into some of CurrencyFair’s unique features that make it a tempting alternative to Western Union:

• Competitive Exchange Rates
  CurrencyFair’s ace in the hole lies in their approach to exchange rates. They operate on a peer-to-peer model, allowing users to choose their exchange rates. If there’s a match for the rate they’ve chosen, the transfer goes through. This often results in exchange rates that are much closer to the mid-market rate compared to other providers, including Western Union.
  
  
• Fees That Play Fair
  CurrencyFair is straightforward when it comes to fees, charging a small fixed transfer fee and a tiny margin on the exchange rate. This transparency and simplicity make it easy for customers to understand exactly what they’re paying, without needing to decode complex fee structures.
  
  
• One Size Doesn’t Fit All
  CurrencyFair allows customers to tailor the speed and cost of their transfers according to their needs. They offer an Express Deposit option for faster transfers, enabling customers to send money more quickly if the situation calls for it.
  
  
• Bank-Level Security
  While Western Union also offers secure transfers, CurrencyFair prides itself on its bank-level security measures. They’re fully regulated by the Central Bank of Ireland, offering an additional layer of trust for customers.
  
  
• CurrencyFair Marketplace
  In the CurrencyFair marketplace, customers can propose their own exchange rates, potentially getting an even better deal. It’s like bargaining at the market, but for your international money transfers!

While CurrencyFair may not have the extensive physical reach that Western Union boasts, for customers who are comfortable handling their finances online and are seeking competitive exchange rates and straightforward fees, CurrencyFair presents a compelling alternative.

Remitly

Remitly is another up-and-coming player in the global money transfer arena. They offer a blend of modern tech and customer-focused features that make them a noteworthy alternative to Western Union. Let’s break down what sets Remitly apart:

• Fast Moving Times
  Remitly shines when it comes to transfer speed. They offer two transfer options: Express and Economy. Express transfers are lightning-fast (sometimes even instant) but come with a higher fee. Economy transfers take longer but have lower fees. This choice allows customers to pick the option that best balances their need for speed with their budget.
  
  
• A More Personal Touch
  Remitly focuses primarily on person-to-person transfers, specifically catering to immigrants who want to send money back home. This gives them a niche focus that allows them to tailor their services to the unique needs of these customers.
  
  
• Transparent Fees & Competitive Rates
  Remitly operates with full transparency about its fees, which depend on the country you’re sending money to and the amount you’re sending. Their exchange rates are also highly competitive, often offering better value for money than traditional banks and even some other money transfer services.
  
  
• Digital First
  Remitly operates mainly online and through their app, making it a good option for customers who prefer digital transactions. While Western Union also offers online services, Remitly’s digital-first approach is a boon for tech-savvy users.
  
  
• Delivery Promise
  Here’s something nifty: Remitly offers a “delivery promise” feature. This gives you an exact date and time when the money should arrive. If it’s late, they’ll refund the transfer fee.

OFX

Let’s move on to OFX, a global money transfer service that’s been making some serious waves in the money transfer space. Here’s how OFX compares to the seasoned veteran, Western Union:

• Fee-Free
  When it comes to transfer fees, OFX takes the cake. They’ve waved goodbye to transfer fees altogether, making them a tantalizing prospect for those looking to send large sums of money internationally. Western Union, with its variable fee structure, simply can’t match this.
  
  
• Great Exchange Rates
  OFX offers highly competitive exchange rates, typically adding a markup of less than 1% above the mid-market rate. This is significantly lower than Western Union, which can charge between 1% and 5% above the mid-market rate.
  
  
• 24/7 Customer Service
  OFX is a night owl and an early bird, offering round-the-clock customer service. This means that no matter when you need help, OFX is there to assist. While Western Union also offers robust customer service, OFX’s 24/7 availability gives it an extra edge.
  
  
• Large Transfers
  OFX is a heavyweight champion when it comes to large transfers. They have no maximum transfer limit, so if you’re looking to send a substantial amount of money, OFX has your back.

But it’s not all smooth sailing. OFX falls a little short when it comes to transfer speed, typically taking 1-2 days for a transfer to be completed, while Western Union offers services like “Money in Minutes.” Also, OFX has a minimum transfer amount, which can be a deterrent for those looking to send smaller amounts of money.

Conclusion

We’ve taken a deep dive into the bustling world of international money transfers, with a particular spotlight on the venerable Western Union.

We’ve navigated through the company’s maze of features, examined their costs, and got up close and personal with their safety measures. We even popped the hood to check their transfer speed and cancellation policy.

We’ve also explored the galaxy of alternatives orbiting around Western Union. CurrencyFair, Remitly, and OFX each bring their own unique flavor to the fintech fiesta, offering a blend of cutting-edge features and user-friendly experiences that can go toe-to-toe with the big W.U.

But here’s the real takeaway: the best choice depends on you and your individual needs. It’s all about picking the right tool for the job, whether you’re transferring a small sum to a friend across the border or sending a hefty amount for your international business.

Just remember: it’s your money, your choice. Find the service that hits the right notes for you, and you’ll be conducting your own symphony of successful international transfers in no time.

F.A.Q.

Can I schedule a money transfer for a later date with Western Union?

As of now, Western Union doesn’t offer the feature to schedule transfers for a later date. Each transaction is processed as soon as you complete it.

Can I send money anonymously through Western Union?

Well, not quite. Western Union requires the sender’s information for every transaction as part of their security measures. They’re all about keeping things on the up and up. However, the company is known in the industry for requiring the least amount of information from senders.

Does Western Union offer a loyalty program?

Yes. It’s called the My WU membership program. As a member, you can earn points every time you make a transfer and later redeem those points for discounts on transfer fees.

Can I use cryptocurrencies like Bitcoin to fund a transfer with Western Union?

No, not at the moment. As of the moment of writing, Western Union doesn’t support funding transactions with cryptocurrencies.

Can I send money with Western Union for charitable donations abroad?

Absolutely, you can. Many charities accept Western Union transfers. Just remember to check the legitimacy of the charity and the regulations surrounding charitable donations in both your country and the recipient’s.

Can I use Western Union to send money to an inmate in a correctional facility?

You sure can. Western Union has services tailored for sending funds to inmates in many correctional facilities. Just be sure to check the regulations of the specific institution.

Is there a way to track my Western Union money transfer?

You bet. Each Western Union money transfer has a unique tracking number (MTCN). You can use this number on Western Union’s website or mobile app to track the status of your transfer.

Can I set up a recurring transfer with Western Union?

Currently, Western Union doesn’t offer the option to set up recurring transfers. Each transfer must be set up individually.

Also see:

Western Union vs XE
Western Union vs Wise
Western Union vs Revolut
Western Union vs MoneyGram
Western Union vs Remitly
Western Union vs OFX
Western Union vs Currencies Direct
Western Union vs CurrencyFair
Western Union vs TorFX
Western Union vs CurrencyTransfer