Cost To Send Money Through Western Union – Understanding the costs of international transfers can be a tricky business. Fees vary depending on the type of payment you make and how it is routed.
Western Union also has different fees depending on whether you fund the payment by bank transfer, cash, credit or debit card – and how the recipient accesses the money.
Cost To Send Money Through Western Union
Sending a credit card transfer to a recipient who wants to receive cash immediately in person from Western Union can cost much more than, say, a wire transfer from one account to another.
Money Transfer And Exchange Rates
Understanding the different options and costs involved in making a Western Union transfer will help you decide if this is the best route for you. Here’s everything you need to know.
With Western Union, you can make a transfer to a bank account or have the recipient withdraw money from a convenient Western Union location.¹ Transfers can be made by cash, bank transfer, credit or debit card.²
However, the costs can be high if you send money by credit or debit card, or if your transfer is directed abroad.
If you need to make a transfer directly to another bank account that requires currency conversion, it may be better to choose an international money transfer specialist such as
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Exact amounts depend on your own transaction history, whether you’re sending money domestically or internationally, and the exact payment method.¹ Some states also have their own limits, which may differ from the rest of the US.¹
For international transfers, you may need to provide information about the purpose of the transfer and the source of the funds to ensure compliance with anti-terrorism and anti-money laundering regulations. Transfers to and from certain countries are prohibited by US law.
The fees charged by Western Union depend on the place of sending the money as well as the payment method. Some of the steepest fees you’ll encounter come from international money transfers with Western Union.
It depends on how you finance the transfer and how your recipient receives the money. For example: Sending USD 1000 to a recipient in Canada costs between USD 10 and USD 95 depending on the payment method.
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The currency was different. Western Union confirms markup on its online money sending page: Western Union also makes money through currency exchange
Not all payment options are available in all countries and currencies, so you should check the specific details of your transfer.
If you choose to send money from the US to the UK using Western Union, this can only be done if the recipient collects the money from a Western Union location.²
Sending money online allows you to send money at the real exchange rate and avoid exchange rate markups.
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Here is a comparison of how much it costs to send 1000 USD to GBP using both Western Union and the service. In both cases, the transfer is assumed to be funded from a bank account – not a credit or debit card – and processed by bank transfer.
If you use , you can easily get £10 from your transfer at the real exchange rate despite the higher upfront fees. This is how Western Union sneaks hidden fees into your international transfers.
It is worth noting that the cost may be significantly higher if you wish to use another payment method.
Is different. This smart new technology skips large international transfer fees by connecting local bank accounts anywhere in the world.
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Western Union allows payments both domestically and internationally using various methods. You can pay in cash at their payment shop, online with a credit or debit card or by bank transfer.²
Your recipient can then pick up their cash at a nearby Western Union location, or you can arrange for the money to go directly to their bank account or even a mobile wallet.² Not all payment and recipient options are available in all countries.
Fees for Western Union international transfers vary widely depending on both how you want to fund the transfer and how it is received.
If you e.g. wanted to send $1,000 to a friend in Australia and he had to pick it up in person, it would cost you $5 if the money was paid from your bank account, but the same transaction would cost $34 if you paid by credit card.²
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Here’s what Western Union says in the footnotes on the Sending Money Online² page about international transfers.
In addition to the transfer fee, Western Union also makes money from currency exchange. When choosing a money sender, carefully compare both transfer fees and exchange rates. Fees, exchange rates and taxes may vary by brand, channel and location due to a number of factors. Fees and prices are subject to change without notice.
To understand what Western Union means here, you need to understand a little about the average interest rate in the market. It is the only real exchange rate used by banks and financial institutions when trading currencies in the open market. You can check the average market rate by using an online currency converter or by Googling the currency pair you need.
And this is where customers need to be careful. It is true that many currency exchange and international money transfer services do not use the mid-market rate for transactions.
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However, there are services out there, such as , that believe it’s fairer – and better value for customers – to use the market’s average rate and only charge a small, transparent fee for each transaction.
In many cases, the spread used by banks and currency exchange services can add significant costs to the customer. Using a provider that keeps the real exchange rate as close as possible can make a big difference.
This publication is intended for general information only and is not intended to cover all aspects of the subject matter discussed herein. This is not intended as advice that you should rely on. You should obtain professional or specialist advice before taking or refraining from any action based on the contents of this publication. The information in this publication does not constitute legal, tax or other professional advice to Transfer Limited or its affiliates. Past results do not guarantee a similar result. We make no representations, warranties or guarantees, either express or implied, that the content of the publication is accurate, complete or up-to-date.
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Buying from another country’s Amazon site? You want to be ready. Read this article for the best tips for shopping internationally on Amazon. The Byron writer has a keen interest in the intersection of personal finance and technology. As a former journalist, he strives to bring complex information to life in a way that is widely understood and appreciated.
Monika is an expert in international transfers, fintechs and neobanks. He leads life as a digital nomad and shares his knowledge and experience of living abroad with users.
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Western Union Online is a very good way to send money abroad (7.5/10), approved by experts. With over 150 million customers and tens of billions of dollars in movement every year, Western Union is an extremely reliable service (7.5/10), even if the price is not very transparent. Using high-quality and user-friendly web and mobile platforms (8.0/10) that garner positive feedback (7.6/10), Western Union Online customers enjoy reasonably good fees and exchange rates (7.0/10), especially for deposits into bank accounts .
Western Union is a solid choice for international money transfers. Although often a competitive service for transfers to bank accounts, Western Union Online is rarely the cheapest service for both bank transfers and cash pickup. As a result, if you want to save on overseas shipping, we recommend that you instead search a comparison engine to find the cheapest real-time transfer service.
Western Union Online is particularly suitable for existing customers who are already satisfied with the service and do not want to use a platform that is only sometimes the cheapest. After all, Western Union exchange rates and transfer fees are reasonable
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