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If 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 should look out for.
How Western Union works
Western Union is not a young institution, money can be sent through it since 1851.
- The only thing you need to use the Western Union service is an ID card. 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 amount you want and the applicable fee. This varies depending on the type of money transfer. If you send money to a bank account, the fees start at 0.90 euros. If the recipient collects the money in cash, fees start at 1.90 euros.
- 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 distribution locations.
- The branch in the recipient’s country is notified that the money is available and the recipient can then collect 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 time can vary from a few minutes to a few days.
Western Union – Branch Procedure
Worldwide, you can use the Western Union service at about 500,000 locations. All travel banks and postal banks are such locations.
- First you have to fill in a form and then hand it in at the counter. To do this, you must show identification, i.e. a valid identity card or passport.
- Finally, you have to deposit the money you want to send.
- For this you will receive a so-called MTCN, the Money Transfer Control Number. This number is unique and therefore only valid for your transaction. It can be used to track the status of the shipment.
- In order for the recipient to receive the money, he must know this MTCN. He must also state the amount of the money and the contact details of the sender. In some countries, a password is also required, which is set by the sender.
