Western Union money transfer review & guide

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

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Everything you need to know

Western Union review

The internet may have made money transfers faster and more convenient, but transfers are nothing new.

One of the oldest and largest money transfer companies is Western Union. Founded in 1851 when money was sent on horseback, Western Union allows you to transfer money to any of more than 200 countries worldwide. Since then, its business has grown and expanded thanks to online money transfers.

Send money in more than 125 currencies with your credit card, bank account, debit card, or wire transfer online. Moreover, Western Union is very famous all around the world because of their cash transfers through the agent network. You can literally visit any WU branch or location and personally transfer your money to any country in the world.

Payment Methods Available with Western Union

Western Union allows you to pay for a money transfer in five different ways:

Bank account

Debit card

Credit card

Wire transfer

With cash

The amount of money you can send using Western Union depends on your individual transaction history if you’ve successfully sent money with Western Union before. It also depends on the receiver’s country, your location, and how you elect to pay for the transfer.

If you choose to send money by initiating the transfer in person at a Western Union branch, there is usually no limit to how much money you can send daily.

How much can I transfer with Western Union?

Western Union offers varying transfer limits depending on the method used and the sender's verification status.

Verified Accounts:

Limits increase to $5,000 USD per transaction.

Unverified Accounts

You can send up to $1,000 USD per transaction.

Cash Pickup

You can send up to $7,500 USD per transaction.

How long does a transfer usually take with Western Union?

The time it takes for a transfer to complete with Western Union depends on several factors. While Western Union strives to process transfers as quickly as possible, the speed of the transfer is influenced by the destination country, the transfer method chosen, and the payment method.

Pros and Cons of using Western Union

Pros

Large network of Western Union locations means that recipients have better access to receiving cash faster.

Easy to use with a user-friendly website and app.

Typically low fees charged for bank-to-bank transfers.

A large network of agent locations, with more than 350,000 individual locations internationally

Multiple ways to initiate a transfer - online, app, phone, and in person.

Pay for your transfer using a bank account, wire transfer, debit card, or credit card.

Debit and credit card transfers can reach the recipient within 1-2 business days.

Cons

The least expensive option, bank-to-bank transfer, takes the longest to get to the recipient.

Lower daily transfer limits than other online transfer companies.

One of the most expensive online money transfer companies

Fees differ in agent locations and online, making it difficult to know if you’ve got the best rate

How it works

How does Western Union make money?

Western Union makes its money in two major ways. By charging transfer fees on its transfers, and by marking up the exchange rate to send money.

Typically, Western Union charges fees based on three factors: The country where you’re sending money, how much money you’re sending, and how you’re paying for the transfer. You will pay lower fees or no fees at all if you use bank to bank type of transfer. If you want the money to get to the other person quickly, use a credit card or debit card to fund the transfer. However, paying this way is going to cost you a fee.

Western Union also makes money by marking up the margin on exchange rates. This markup can add up to 20 percent of the total amount of your money transfer.

Because of the fees and exchange rate markup, Western Union is not often the least expensive option for sending money.

Western Union exchange rates

Western Union is one of the online money transfer companies that makes relatively large margins on its exchange rate markup. Sometimes, customers need to pay up to 20% in exchange rate difference and various fees. Western Union’s exchange rates aren’t always better than its competition. The country where you’re sending money and how much money you’re sending can make a difference in the exchange rates. When you send money to developing countries using Western Union, you can get better exchange rates than you would get if you send money to Europe or the US. You also may find better exchange rates when sending large amounts of money.

Safety and security

Is Western Union money transfer secure?

Western Union is considered a secure and well-trusted way to send and receive money internationally.

It is fully licensed and insured in multiple countries. With its long history of offering money transfers, Western Union has gained significant trust from the public.

Western Union complies with the regulatory requirements in the countries where it operates, ensuring the security of every transaction.

Security features

All Western Union accounts are verified using a range of measures, ensuring that only authorized users can access and perform transactions.

To send money through Western Union, users must submit certain documents to prove their identity, in compliance with anti-money laundering regulations.

Western Union employs both manual and automated fraud detection systems, which allow for quick identification and handling of any suspicious activity.

All transactions are safeguarded with robust online security measures, including encryption and secure data protocols, to prevent unauthorized access and ensure the safety of your money.