As one of the pioneer services in the international money transfer market, Western Union is known for its credibility and multifunctionality. Nonetheless, the arrival of alternative solutions like Wise or Profee may make your decision-making challenging - what option is really worth it? In this guide, you won't have a definite answer to this question, but you will get one step closer to understanding whether your cooperation with Western Union is what you want.
One of the system's drawbacks is Western Union fees. They are quite complex and require attention to detail for people who don't want to be subjected to enormous extra charges for simple operations. Overall, the transfer fee range varies from as little as $0 to over $50 per transfer. Let's dig in!
Peak Sums to Send Via Western Union
Before getting started, it is crucial to understand whether all the hassle pays off. Compared to online transfer solutions from third parties, Western Union lets you benefit from middle-sizes and large financial operations. Once your identity is verified, the maximum amount of money to send in the network reaches $50,000 on average. There might be certain limitations for particular scenarios, which depend on the target service and the recipient's country.
How to Check Money Transfer Fees Promptly
One of the ways is to check the system's price estimator. You type in the transfer's details, including its amount, the target recipient, and the format you prefer to complete the transaction. The palette of available options boils down to call, online, app, and in-store assistance. For example, if you send $100 from the USA to the target mobile wallet account in Jamaica, here are the potential fees to cover:
- $3.99 for payments done via debit cards;
- $7.49 for credit card transfers;
- $1.99 for paying from the chosen bank account (but it will take up to four business days);
- $3.99 for Google Pay transfers;
- no fees for in-store payments.
If you alter the conditions in the example above, the fee sums will change accordingly:
If you go for bank-to-bank transfers of $1000, the expected fees range between $6.47 and around $40. By changing the pay-and-receive methods, you can minimize the extra charge from Western Union for its role as a middleman.
Final Thoughts
At the end of the day, there are a few obstacles for those who want to get the most out of what Western Union offers. All you need is to adjust your portfolio of financial instruments and back up this legendary bank's pitfalls with cost-effective alternatives. Since its fees vary a lot, the distinguished service may remain a top-notch solution for a specific transfer. Start by estimating your needs and checking how the target brand tailors its offers to your objectives.
