13
Once you know how Western Union works, you can use the service to transfer cash all over the world. Here we explain how it works and what you need to bear in mind.
How Western Union works
Western Union is not a new institution; money has been sent through it since 1851.
- The only thing you need to use Western Union’s service is identification. You can send money either at a branch or online.
- The way it works is simple: if you want to send money, you pay the desired amount and the applicable fee. This varies depending on the type of money transfer. If you send money to a bank account, fees start at €0.90. If the recipient collects the money in cash, fees start at €1.90.
- The money is then transferred to a Western Union account in the recipient’s country or can be collected in cash at one of the many sales locations.
- The branch in the recipient’s country is notified that the money is available, and the recipient can then pick up the money directly or have it transferred to their account.
- How long the transfer takes depends on several factors, such as whether you deposit the money in cash or transfer it. The duration can vary from a few minutes to several days.
Western Union – Procedure at the branch
You can use Western Union’s services at around 500,000 locations worldwide. All travel banks and post office banks are such locations.
- First, you must fill out a form and then hand it in at the counter. To do this, you must provide proof of identity, i.e., present a valid ID card or passport.
- Finally, you must deposit the money you wish to send.
- You will receive a Money Transfer Control Number (MTCN). This number is unique and only valid for your transaction. It allows you to track the status of the transfer.
- In order for the recipient to receive the money, they must know this MTCN. They must also state the amount and the sender’s contact details. In some countries, an additional password set by the sender is required.
Sending money online is cheaper
You don’t need to open an account with Western Union for a one-time transfer.
- If you use the service frequently, having your own account will save you not only time but also money. To do this, you need to register on the Western Union website.
- The account itself is free of charge. Although fees are also incurred for online use, these are lower than in the branch.
