Author: Macro Win

Western Union review: services and popular products

Western Union is considered to be among the biggest businesses in the money transfer service. They have a firm grip in the market, with operations in more than 200 countries and countless satisfied clients around the world. Their fund transfer services can easily be accessed using their online website or from any one of their many pick-up places. They have more than 500,000 pick-up locations around the globe, and you can easily locate one near you. They have continuously maintained a trustworthy track record and a customer friendly mindset. The company was founded almost 167 years ago, and over the years, they’ve been a pioneer in their industry. In this review, I will show you a few of the most important functions of Western Union and my personal take on its services.

Funds transfer with Western Union

Transferring money is quite simple with Western Union. It’s even easier if you do it online! I tried it and realized it to be quite fast and user-friendly. They also developed a mobile app. All you have to do is register for an account. Once it is ready, you can quickly start transferring money all over the world. Just enter the amount of money and the currency in which you wish to transfer money to, then proceed to the payment. Just like that, Your transaction is done! Before you make any transfer, you can also see the fee and currency exchange rate of the transaction. Towards the end, you will also be notified of the approximate receiving date. They have multiple payment choices: debit cards, credit cards, and direct payment from your bank account. In just a couple of moments, your transfer is all done. You can also make your funds transfer by visiting a local pick up point. Submit all the details for sending your funds, and your money is instantly on its journey to its destination. Isn’t it just so simple?

Funds transfer with Western Union

Transfer fees and currency exchange rate

Western Union’s transfer charge is low in comparison to most service providers. They provide one of the best fees in the market. See? I have compared its transfer fee and currency exchange rate with two other significant companies. They are 2 new and upcoming firms, WorldRemit and Xendpay. Here I have compared their transfer fees with Western Union’s. I sent different amounts from the United Kingdom to many locations and compared their results.

Country Amount sent Western Union WorldRemit
USA £100 £2.90 £2.99 £1.00
France £100 £0.00 £2.99 £1.00
Australia £100 £2.90 £0.99 £1.00
India £100 £1.90 £1.99 £1.00
Country Amount Western Union WorldRemit
USA £1,000 £2.90 £2.99 £4.50
France £1,000 £0.00 £2.99 £4.50
Australia £1,000 £2.90 £0.99 £4.50
India £1,000 £1.90 £1.99 £3.00
Country Amount Western Union WorldRemit
USA £10,000 £0.00 £2.99 £45.00
France £10,000 £0.00 £2.99 £45.00
Australia £10,000 £0.00 £0.99 £45.00
India £10,000 £0.00 £1.99 £30.00

It’s quite obvious that for £ 100 Western Union’s charges weren’t the best. But for bigger amounts, like GBP 1000 and GBP 10000, Western Union’s fee was the most affordable.

In the same way, the currency exchange rate provided by all are also reviewed here. I found that the rates offered by all three had little variation between them. Western Union doesn’t provide the best exchange rates of them. However, it still was much better than lots of others in the market.

Country Western Union WorldRemit
USA 1.3132 1.31 1.31676
France 1.127 1.12 1.13206
Australia 1.777 1.78 1.78356
India 90.3979 89.71 90.30619

Western Union Quick Collect

Were you aware that Western Union also offers a service to help their customer with the online bills payment? It makes paying your electrical energy bills, home mortgages, and telephone bills quite easy, irrespective of what country it’s in. You can also buy from eBay using this facility. Quick Collect is present on Western Union’s website and mobile app. You can utilize your credit/debit card to complete your payments.

Western Union Speedpay

Speedpay is another awesome product which provides payment solutions to businesses through Western Union. It helps them to carry out large financial operations. It can be utilized to make payments to the customers or receive payments from their users. Typically, these services are needed by organizations that manage a big number of payments on a monthly basis to different parties. Speedpay turned into a subsidiary of Western Union in 2002, and it has been a benefit to many organizations.

Western Union Speedpay

An introduction to Western Union Netspend prepaid card

The WU Netspend card is an outcome of a fresh collaboration between Western Union and Netspend. This gives you all the benefits of a Netspend card along with all the benefits of using Western Union. You can make payments for all your bills, make overseas money transfers, fast online transfers, and cash from ATM machines with this pre-paid card. Along with all this, you can gain money back rewards on a few of your purchases. They also offer a Refer-a-friend program. With this, whenever the individual you referred loads a minimum of $40 on his prepaid card, you get a $20 credit as a reward for getting the word out.

My concluding remark

Western Union represents reliability and persistence in its work. They get awesome reviews from their customers. Now they are introducing new products and services that everyone can enjoy as well. But they are still quite dedicated to their primary service of money transfers. In my view, one of the biggest improvements Western Union could attain would be their currency exchange rate. Emerging businesses are providing much better exchange rates and even much better deals, which could put WU out of business one day. Nevertheless, even after having a substantial amount of competitors, Western Union is still among the top companies for transferring cash anywhere you wish it to go.

Send Money Overseas with p2p Payment Providers

The international fund transfer sector took a major turn when p2p payment providers brought a revolutionary change to the business. By introducing a new idea to significantly reduce the fee, they have paved a new path, different from the traditional fund transfer businesses. This system has eliminated the need for a middleman. Now the funds go from one person’s account to another with the help of a large network of such customers. In recent years, many businesses have popped up using this new method. So what is this fund transfer technique, and how are the top p2p businesses using it successfully?

About p2p (peer-to-peer) money transfer

Peer-to-peer payment is the simplified process of sending money to other countries. In this process, the service provider takes your payments, converts it into the currency you need, and then matches it with a person sending payments from the opposite country. This way, you get to enjoy great exchange rates with smaller fees. Since these organizations have such a big network, they can always find someone to match you with. Now you don’t have to lose money because of poor exchange rates or high fees.

Send Money Overseas with p2p Payment Providers

How it works

The p2p service providers keep funds ready in every country they operate in. When a customer submits an amount to send it to another country, it gets deposited to the origin country’s account. After deducting their fee, the remaining amount is converted into the currency of the country it is being delivered to. This amount is delivered to the recipient from the company’s account located in the recipient’s country. More and more service providers are moving to this new technique because it’s efficient and saves a lot of time and money for their customers. However, since they are relatively new, peer-to-peer transactions are not available in many countries and in many currencies.

Better than banks?

Banks can charge you high fees, and you might also get bad exchange rates. It is because your bank first sends your funds to another bank, then it is converted to the local currency, and then it is delivered. During this process, both banks take a share of your money. This translates into high fees and poor exchange rates. Sometimes, you even have to pay to receive funds through a bank.

Better than banks?

Since banks aren’t always an economical option, people are gradually shifting to p2p money transfer methods to save time and money. There are a few good service providers who use this p2p method for their overseas transactions. Let’s take a look at three examples of p2p payment services and compare their fees, exchange rates, and speed of transfer.


TransferWise was founded in 2011 in London, UK. It offers very low fees and guarantees real exchange rates in all transactions. When you send money with TransferWise, your exchange rate is fixed until it is received. You get the same exchange rate with which you initiated your transaction, preventing losses due to rate fluctuations. They charge a small percentage of the amount being sent along with a flat rate. This percentage varies depending on the country and currency. Usually, they charge you between 0.5% and 1.5% of the amount. Your payment reaches its destination in 1-5 business days.


CurrencyFair uses the p2p transfer in a slightly different way. It uses marketplace principle to send your funds. Here you can decide the exchange rate you want. If someone from the opposite country agrees to this rate, your transfer goes through. The charges of CurrencyFair are lower than TransferWise. They charge 0.38% of the amount as their fee and 0.15% if you exchange with other users on an agreed exchange rate. CurrencyFair usually takes 2-5 business days.


Xoom is an online service with which you can send funds to over 56 countries from the US. It’s owned by PayPal, so you can combine it with your existing PayPal account. Along with sending payments, you can also pay your bills with this account. Their fees depends on three factors – the country you are sending money to, the amount, and the payment method. Paying with your US bank account will cost you much less than paying with your credit or debit card. It takes anywhere from a couple of hours to four days for the money to reach its destination.


All these payment providers give you fast service with competitive rates. They are not only cheap but also secure. Their services are spreading to more and more countries to form a bigger network. As their network grows, theses services will become even cheaper and faster than they are now. These services are the next big thing in the overseas payment transfers. With the p2p transfer, you can ensure that your payment will reach its destination without burning a hole in your budget.

How to send money from the UK to Europe

Every year millions of financial transactions take place within the European countries. Europe constitutes of over 50 countries and 28 of them are members of the European Union. The most used currency in Europe is the Euro which is used by 19 countries in the European Union as their legal tender. Some of the few countries which have Euro as their official currency are Belgium, Austria, France, Germany and Greece. Another major currency in Europe is Pound Sterling which is the official currency of the UK. Money transfer and currency exchanges between the UK and other European countries are very common. There are many ways in which one can send money from the UK to Europe. In this article, we will explore a few ways in which you can send money. We will also try to see how you can save more while making these payment transfers.

Bank wire transfer

It is the most trusted way of sending payments across borders. Now many banks offer this service online, so you can make a wire request online. Some may still require you to visit the bank and make a request in person. Banks charge a flat fee for any sum while other services charge a percentage of the total sum being transferred. Bank wire could be a good option to save on transfer fee if you are sending a big amount. The percentage on a higher amount can be more than the bank’s flat fee on the wire transfer. It is also considered safer as banking institutions are trustworthy in terms of money. This option may not be good for sending small amounts as you will be paying a higher fee even for sending a smaller payment. The exchange rates offered by banks are also poor, so the recipient gets less than expected money in hand.

Online service providers

Most people handle their finances online and do not want to frequently visit a bank to make a wire request. There are plenty of online services which will make your life easier. You can send money to any country in Europe in just a few minutes. These online services also offer low fees and good exchange rates so you do a lot of saving through them. There are so many online options available which operate in the UK and will send your payments to any country in Europe. I will mention here a few of the leading services who are trusted by customers and have a good reputation in the market.

How to send money from the UK to Europe

Comparison of few popular online services

For a customer, the basic necessity is to find a provider which gives him his desired service at a reasonable rate. The transfer fee is a direct cost which is incurred by a customer while sending money. On the other hand, the margin added to the exchange rate by these service providers is an indirect cost to the customer. I did a small research to send GBP 100, GBP 1000 and GBP 10,000 through different agencies and compared the final amount the recipient would receive. This amount is the result after the fee has been deducted and the exchange rate has been applied.

Country Amount sent TransferWise CurrencyFair Western Union WorldRemit Skrill
100 111.69 109.89 112.70 108.65 112.07 106.53
1,000 1,125.05 1,125.90 1,127.00 1,116.65 1,126.97 1,065.27
10,000 11,258.69 11,286.00 11,270.00 11,196.65 11,269.66 10,652.68

Here I have compared the final amount received from TransferWise, CurrencyFair, Western Union, WorldRemit, and Skrill after the transaction is made. For this example, I have considered a transaction between the UK and France and all transactions are between one bank account to another.

Transfer fee comparison

Western Union is sending money without any fee while CurrencyFair and WorldRemit are the next best options who are charging a flat fee for all amounts. However, WU will take 3 business days to deliver while there are other faster options like TransferWise which will deliver in 1 day.

Exchange rates comparison

Another pressing issue is the exchange rate offered by the providers. A poor exchange rate translates into a cost for the customer. Poor rates can lower the amount received by the recipient significantly. The exchange rate offered by TransferWise was closest to the real exchange rate. CurrencyFair and also offered good exchange rates as compared to others.

Comparison of the amount received

Due to zero transfer fees, WU gave the best results for smaller amounts like GBP 100 and GBP 1000. was also very close to WU and appeared as a good option. CurrencyFair was the best option for sending bigger amount as the fee were the lowest with good exchange rates. The results of TransferWise were also very close to the best results in all amounts and can be considered as it was the fastest option.


Apart from the ones mentioned here, there are many more options available online. You can also compare them with each other on the same criteria as we have done here. While making the final decision it is important to keep your objective in mind. If you are looking for a fast service you may have to pay more. At the same time, the cheapest option will save your money but it may make the recipient wait for the payments for a few more days. In the end, you can always compare a few agencies yourself to see who can give you the best deal.