How to send money with Western Union [Tips & Process]
If you need to send money either domestically or internationally, you have a lot of choices available to you.
One of these potential choices is Western Union.
With over $857 billion of international bank transfers1 taking place in 2023, not to mention domestic transfers, the world already supports a vast number of money transfers. Because of this huge demand, a wide range of platforms exist to help you send money wherever you need.
Western Union is one of the world’s largest and most famous money transfer systems in the world, offering a range of different ways to send money via their platform.
Whether it’s paying bills at home, sending money to family abroad, or something else, we’ll cover the best tips you need to know for safely completing international transfers, as well as addressing any frequently asked questions.
If you find yourself asking how to send money internationally, how to send money via Western Union, or even wondering how does Western Union work, here is everything you need to know.
What is Western Union?
Founded in 1851, Western Union is not primarily a bank (where you “bank” your money and save it), but instead a specialist multinational financial services company that allows you to send and receive money through cross-border transfers.
Originally a telegraph company, Western Union is currently one of the world’s largest and most famous money transfer operators.
It has also operated secondary operations such as the Western Union International Bank in 2004.
Key features of Western Union
As such a large and established money transfer organization, Western Union offers a range of different advantages that attract customers.
Some of its key features include:
- Excellent Security: An established player in money transfers, Western Union has long since learnt the value of security, and as such employs advanced security measures to protect both transactions and personal information.
- Convenience: Western Union offers a variety of ways to access their service, allowing users to send money online, through the WU mobile app, or at physical locations.
- Global Reach: While most operational in the US with 42,000 locations, Western Union maintains a presence in more than 200 countries, making it a great option for international users
- Multiple Payment Methods: You can choose from several payment options with Western Union including cash, bank cards, or bank transfers.
- Flexible Receiving Options: Similar to payment methods, recipients can collect their funds through various methods including cash pickup, bank account deposit, and mobile wallet transfers.
Western Union’s main advantages come from its size and age, allowing it to maintain physical locations for those who prefer cash transfers, as well as maintain extensive global reach.
Western Union vs competitors
Western Union is not the only platform for international money transfers and wire transfers. A range of other platforms exist that allow you to send money both domestically and internationally, each offering a unique set of advantages, exchange rates, and fees.
| Feature | Western Union | BOSS Revolution | MoneyGram | Xoom | Wise |
|---|---|---|---|---|---|
| Countries Covered | 200+2 | 59+ | 200+3 | 160+4 | 80+5 |
| Transfer Methods | Online, Mobile App, In-person | Online, Mobile App, In-person | Online, Mobile App, In-person | Online, Mobile App | Online, Mobile App |
| Fees | Varies by destination and method, starting at $1.99 | Varies, starting at $0. First five transfers free, + one fee-free Tuesday per month with promo code | Varies by destination and method, starting at $4.99 for online transfers | Varies, starting at $1.99, depending on payment method and destination | Varies, starting at 0.33% of the transfer amount |
| Exchange Rates | Competitive, but may include substantial markup | Extremely Competitive rates, minimal markup | Mid-market rate plus some markup | Mid-market rate plus some markup | Mid-market rates |
| Speed | Few minutes to 4 business days | Few minutes (depending on delivery method) | Minutes to 3-5 business days | From minutes to 4 business days | 50% of transfers completed instantly, most within 24 hours |
(Data taken 09/15/2024)
While Western Union offers extensive global coverage, it is not necessarily the best option for saving money with low fees, or getting money across borders quickly.
For example, if you want to use cash, Western Union may be a great option. On the other hand, other providers such as BOSS Revolution offer cheaper methods of international money transfer.
How to send money via Western Union
If you do want to send money through Western Union, there are a few steps you need to take before you can start.
Here is what to do:
Step 1: Create an account or log in
The first step is to create your Western Union account, or log in if you already have one. This can all be done either online via their website or by downloading and using the WU app.
You’ll need to provide them with your name, address, contact details, and a document to confirm your identity such as your passport or driver's license.
Once this is done, your account should be set up and ready to use.
Step 2: Choose the amount and currency
The next step is to choose how much money you want to spend, what currency you are sending in, and to. Beware that you may be paying more on your side than the recipient receives due to exchange rates and fees.
Western Union will display your final amount, so make sure to check it is roughly what you expected.
You can also review what specific fees and exchange rates have been used, which you can then compare to other options such as Boss Revolution.
Step 3: Choose payment method
With Western Union, you have a reasonably wide range of different payment methods to choose from:
| Method | Processing Times | Fees | Availability |
|---|---|---|---|
| Credit Card | Instant | Higher fees | App, Online, Agent Location |
| Debit Card | Instant | Some fees | App, Online, Agent Location |
| Bank Transfer | 1-5 business days | Lowest fees | App, Online |
| Cash | Instant, but dependant on pick up and store opening times | Varies | Agent Location Only |
Step 4: Enter recipient details
What’s left to do? You may be wondering “what do I need to send money through western union?”. The answer is simple.
All you need to send money is an account, some money to send, and your recipient’s details. These details should include:
- The recipient's full name (as it appears on their ID)
- The recipient's country
- Their chosen method of receiving funds (cash pickup, bank account, or mobile wallet)
- If you decide to send it to a bank account, you'll need the account number and bank details. Make sure to check what details are needed depending on which country they are in.
If your recipient does not have a bank account, there are still some ways to send them money, such as Western Union’s cash pickup method.
Step 5: Send and track your transfer
Once you’ve filled out the details and feel ready, you can hit send. After you’ve sent your transfer, you can also track it.
To do this, you’ll need the Money Transfer Control Number (MTCN), which you should receive after sending your transfer. This is a 10-digit code that will either be on your printed receipt if you sent in-store, or via your digital receipt or confirmation email.
Your MTCN allows you to track the progress of your transfer, showing you whether it’s been sent, is in processing, or if it’s been received.
For picking up money in-store, you’ll need this MTCN, so make sure to share this code with your recipient on other channels so they can accept your money. To track your transfer, simply head to the Western Union website and enter the MTCN and sender’s name.
How does Western Union work?
There are many different ways to send money internationally, with one of these methods being SWIFT, which is the world’s most common system for money transfer. This is what Western Union typically operates on.
Here’s a condensed version of how it all works:
- You initiate a transfer: You start the process by providing your funds, a chosen payment and receiving method, and the recipient details.
- Payment processing: Next, Western Union accepts your payment and generates a unique MTCN for your transfer.
- Funds Allocation: Western Union uses a complex network of banks and agents to allocate funds, allowing users to receive money in many different locations, in many different currency forms.
- Recipient Notification: Once the money is ready, it will either be placed directly into a bank account, or the recipient will be notified that funds are available for collection from a nearby location if cash has been sent.
- Funds Disbursement: To be able to collect their money if cash is sent, the recipient must provide the correct MTCN to match the transfer, alongside their own identification.
Western Union transfer limits
Depending on where you are sending money from and to, Western Union operates different levels of transfer limits. In many cases, you’ll need to verify your identity in order to raise your transfer limit.
| Region | Maximum Transfer | Currency | |
|---|---|---|---|
| USA | 3,000 (unverified) - 50,000 (verified) | USD | |
| UK6 | 800 (unverified) - 50,000 (verified) | GBP | |
| Canada7 | 999 (unverified) | CAD | |
| Mexico8 | $7,499 (US dollars or its equivalent in local currency, i.e. Pesos) (verified) | USD/ MX$ | |
| European Union9 | 1,000(unverified)- 5,000 (verified) | EUR | |
(Data taken 09/15/2024)
Make sure to check with the Western Union website to see what the transfer limit is for your region.
Western Union app: How to send money
The WU mobile app allows you to easily track your transfers just like their online banking, however reaching this section is a simple tap away with the app, rather than having to search for it online.
The app also allows you to review all of Western Union’s exchange rates, select previous recipients for new transfers, and easily find nearby physical locations with its location finder.
Step-by-step guide to using the Western Union app
- Download and install: Get the app from your device's app store.
- Set Up Your Account: Log in or create a new account.
- Add Payment Method: Link your bank account or card for easy payments. Simply enter your relevant bank account or card details such as account name and number. Western Union should tell you what details you need, depending on your region.
- Initiate Transfer:
First, tap "Send Money"
Next, enter recipient details
Choose your preferred amount and payment method
Review and confirm - Track Transfer: Once the transfer is sent, you can use the app to monitor your transfer's status.
How to send money through Western Union internationally
Both Western Union and other international payment platforms often have fees and varying exchange rates.
Alongside this, you’ll need to look out for average transfer times, the risks of some international currencies, and different regulations for money transfers in different regions.
Currency exchange rates
Not all currencies are worth the same, which is why the world has exchange rates. This means that sending $1,000 to another country doesn’t mean someone receives 1,000 of their currency, but less or more, depending on the rate.
Western Union's rates typically include a markup over the mid-market rate, effectively meaning WU takes the average market exchange rate, and adds a little to it.
This markup can vary based on the currency pair, transfer amount, and current market conditions.
As an example, if you're sending $1,000 USD to euros:
Mid-market rate: 1 USD = 0.90 EUR
Possible Western Union rate: 1 USD = 0.87 EUR
Difference: 0.03 EUR per dollar, or 30 EUR on a $1,000 transfer.
(Exchange Rates taken 09/15/2024)
Always check the current rate offered by Western Union and compare it with other services like BOSS Revolution, which often provide more competitive rates for certain corridors.
Fees for international transfers
Alongside their exchange rate markup, Western Union also charges an international transfer fee that varies depending on where you are sending your money to and from.
While there is a full list10 available online, here are some of the more popular regions and their associated fees:
| Region | Minimum Amount (EUR) | Maximum Amount (EUR) |
|---|---|---|
| USA, Mexico, Canada | 2.90 | 4% of principle |
| UK | 2.90 | 99.90 |
| Spain | 2.90 | 119.00 |
| Germany | 2.90 | 99.90 |
| France | 2.90 | 99.90 |
| China | 2.90 | 35.00 |
Data 02/01/201810
Tips for first-time transfers
Whether it’s with Western Union or another platform, make sure to double check your recipients details, as once the money is sent it is difficult to recover. You should also check you have enough money in your account to cover the transfer, so not to incur any overdraft fees.
For WU users, make sure not to lose your MTCN, as this is crucial for tracking and identifying the transfer.
Common mistakes to avoid
The most common mistakes in international money transfer include entering incorrect details, both for yourself or the recipient, as well as selecting the wrong currency.
Many people also lose out by not checking the exchange rates, fees, or comparing platforms, costing them tens and thousands, or around 7% of their money on transfer fees11.
How to get the best exchange rates?
Make sure to compare different platforms and track exchange rates, as they can often change over time.
To truly get the best exchange rates, also look out for special deals or promotions. For example, WU often offers a fee-free first transfer.
Conclusion: is Western Union the best way to send money?
If you’re looking for reliability and global reach, WU is a safe bet. However, it may not be the cheapest or the fastest.
Other platforms such as BOSS Revolution offer low and transparent exchange rates with minimal fees, alongside almost instant transfers to help you get the most out of your international transfers.
Sources: all third party information obtained from applicable website as of September 15, 2024
- https://www.migrationdataportal.org/themes/remittances
- https://www.westernunion.com/pk/en/home.html
- https://www.moneygram.com/walmart/us/en/
- https://www.xoom.com/en-us/usd/send-money/select-country
- https://wise.com/gb/business/coverage
- https://www.westernunion.com/gb/en/frequently-asked-questions/faq-send-money.html
- https://www.westernunion.com/ca/en/frequently-asked-questions/faq-send-money-online.html
- https://www.westernunion.com/mx/en/send-money.html
- https://www.westernunion.com/blog/en/fr/international-bank-transfer-what-is-the-maximum-amount/
- https://www.westernunion.com/content/dam/wu/EU/EN/210439812_D_Fee_table_update_EN_v2_LowRes.pdf
- https://remittanceprices.worldbank.org/sites/default/files/rpw_report_march2018.pdf
This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.
