Top10 Best Western Union Alternatives[Instant & Secure]

Every aspect of the business has gone global. The number of people moving from India to different countries has also been surging. With more people moving to other foreign countries, international fund transfer has peaked. Money transfer happens for a variety of reasons. Friends, family, investment in the home country, tuition fees, gifts, vacation, and shopping are a few reasons people do money transfer worldwide. While there are several ways to send money to someone in another country, several factors are considered, like time, transaction fees, interest rate, and a few others. Cash-to cash transfer, Bank-to-Bank transfer, Account-to-cash transfer, Prepaid Debit Card, digital wallet, and credit-to-credit card/ debit-to debit card are some of the best ways of money transfer.

Western Union and western union alternatives offer tons of features that help transfer money online from one country to another. TransferWise, MoneyGram, Xoom, PayPal, World Remit, Bitcoin, Ria Money Transfer, Remitly, Skrill, Transfast, and a few others are some of the best western union alternatives. Western Union allows you to send money, Pick up cash, track transfer, pay bills, and perform many other tasks from one country to another. One can transfer money with the western union online or by visiting their branch physically.

Filling out a form with name, address, amount sent, and preferred mode of payment along with the recipient details like full name, address, and contact details. Depending on the speed and type of transfer, the fees vary up to 10%. The tracking number provided after the completion of the transfer allows the recipient to claim the cash.

Features of Western Union

• Money transfers to a bank by phone, in person, through mobile, and an app.
• Mobile wallet
• Send for cash pick up and flexibility in it.
• Prepaid cards
• Multiple payment options
• Track your transfers
• Membership program
• Pay bills online, in-person, by phone, and money orders
• Global access with - Send money online to more than two hundred countries.

Advantages of using western union

Speed

The transfer enables the recipient to receive the money in a few minutes and is an excellent choice for someone looking to make an emergency money transfer. An identification card is the only requisition to receive fast cash, and home delivery is also available in selected city branches.

Multiple options

Western Union allows money transfer to several locations across the globe since it has multiple branches in almost every county, enabling money transfer to recipients in a matter of minutes. The branches of the money transfer providers are usually open during weekdays office hours and on weekends too.

Trustworthy

Western Union is an established service provider in the money transfer business, and it does not require users to take up a membership card. It also offers conversion from dollars into a preferred currency with a current exchange rate, making it a transparent conversion provider. Western Union is reliable, trustworthy, and has been there for decades.

Disadvantages of using Western Union

Charges

While using Western Union is safe and can manage the faster transfer, some countries like the Philippines are charged high for the remittance. The exchange rates are not favorable to senders, especially when the Philippine Peso is lower against the dollar.

Disclaimer challenges

Western Union has a disclaimer clause that does not make them responsible for the condition of the goods received, making it a very challenging situation for the users. The agents may sometimes get negligent and deliver goods in lousy shape.

Erroneous transactions

Wrong currency exchanges, calculation differences, and cash delivery to the wrong recipient are among the few challenges that users have faced. The customer support team at Western Union is not the best making it even more difficult for users to track and get their issues corrected.

Fraudulent transactions

Western Union allows recipients to collect cash with a mere transaction number and identification card leading to scammers claiming the money wrongly.

What are some of the western union alternatives?

Speedy cash delivery through multiple trustworthy channels is the strong suit of western union. However, miscalculations, scams by fraudsters, and higher transaction charges are some of the users' challenges. Western Union is not exactly the best money transfer service provider for users with different requirements. OFX, Pay Pal, Ria, MoneyGram, Xoom, and many other providers in the market offer a variety of easy to use features with reasonable charges.

Who are Western Union competitors?

TransferWise, Fly Wire, American Express, PayPal, MoneyGram, and Ebury are a few Western Union competitors. Exchange rates depend on market fluctuations. However, if you are a user looking to make money transfer often, then opening an account with multiple providers. Making a list of companies, visiting their company website, comparing fees based on the desired method of transfer, and check the minimal amount of transfer allowed by the company are some of the things to evaluate before making the final decision.

Which is the safer option between PayPal and Western Union?

Western Union offers money transfer in a matter of minutes and is an excellent choice during an emergency. However, it is also a favorite among scammers since it requires only an identification card and transaction number. PayPal, in comparison, is a safer option since it enables users to register their email id and enables them to make the transfer effortlessly without worrying about leaking their bank account information to fraudsters.

Which is the cheapest money transfer, service provider?

There are tons of money transfer service providers like western union, and all of them enable users to make international money transfers effortlessly to many countries. However, users always consider competitive exchange rates, transfer money internationally with multiple currencies, transfer fees, and a few other factors. There is no cheapest or best option. Users can open multiple accounts with different money transfer service providers and always consider the transfer amount, country of the recipient, options of bank transfers, fees, and a few other points before making the transfer.

If you are a user looking to make transfers to or from countries like U.S, Australia, South Africa, and Europe, it would be a great idea to compare the conversion rates and transaction fees per transfer with multiple providers. The conversion rate of dollars, pound, and a few other currencies are fluctuating in nature. Money transfer across different countries happens for multiple reasons ranging from sending money to loved ones from purchasing online. Western Union is an excellent choice for a user looking to make an emergency transfer and has a few disadvantages if you are a regular user.

There are tons of western union alternatives in the market that enable international money transfer that offers different exchange rates, transaction fees, and so on. However, choosing options that are best suitable for individual situations would be a good idea. TransferWise, Currency Fair, Ria Money, Remitly, MoneyGram, OrbitRemit, Paysera, InstaReM, Xoom, and OFX are some of the best western union alternatives in the market.

Some of the Western Union Alternatives :

We will discuss the features, charges, time duration for transfers, and comparisons of these western union alternatives in detail:

Transferwise

Through Transferwise, users can send money abroad, receive payments, receive international money transfer in up to twenty-eight currencies worldwide, and spend money internationally. Transfer Wise enables users to send money easily and quickly without any hassles. Transfer wise transfer charges are much cheaper than the banks making it a favorite among the users.

Features Fees Charges Time Duration

Transferwise takes two working days for conversion money transfer and one working day for regular money transfer.

Comparisons

• Transfer wise money transfer takes plan in two days. If you are converting from USD to EUR, the mid-market rate for $1 would be 0.846550 and 10.48 transfer fee, and the recipient receives $837.68 per every thousand dollars.
• Xoom offers money transfer in one to two days with 0.834680 as the exchange rate for 1 USD into EUR. The recipients receive $834.68 per every thousand dollars making the transfer fee as free.

CurrencyFair

If you are looking to make money transfer alternatives to western union with unlimited transfers and cheaper money transfer rates, then Currency Fair would be a great choice.

Features Fees Charges

Users pay 0.25% - 0.3 % for the total transfer amount depending upon the transfer of currency.

Time Duration Comparison

• Currency fair offers 1 = 0.8426 exchange rate for $10,000 with a €3.00 transaction fee leading to the recipient receiving €8,423.00
• A typical bank offers 1 = 0.8211 exchange rate for $10,000 with a €30.00 transaction fee leading to the recipient receiving €8,186.37

RiaMoney is one of the quickest, safest, and most convenient money transfer services provider to one hundred and forty-nine countries. RiaMoney is an excellent choice if you are looking for western union alternatives and is also one of the world's top best money transfer companies. RiaMoney has extended its network to more than three hundred thousand locations, making them a top choice in accessibility and convenience.

Features

• Price calculator through improved functionality.
• Easy to use interface
• Quicker money transfer
• Money transfer tracking on the go with mobile apps.
• Ria near me features helps users to track the nearby location.

Fees

Competitive exchange rates. The transaction fees depend upon the currency, transfer, payment method, and the recipient country.

Charges

The transaction fees depend upon the currency, transfer, payment method, and the recipient country.

Time Duration

A debit card or credit card transfer takes up to fifteen minutes to deliver. Mobile deliveries are instant, and bank transfer takes up to four business days.

Comparison

Remitly is among the best international money transfer companies that enable users from U.S., UK, Canada, Australia, and Eurozone to send money with lower transaction fees and great exchange rates.

Features Fees

• The transaction fees are dependent upon the choice of payment and money transfer receiving option.
• Debit card and credit card transfers are allowed. However, some of the credit card companies in the U.S. charge 3%, and Canada charge 1% of transaction fees since they consider it to be cash withdrawals.

Charges Time Duration

Economy money transfer takes three to five days, and express money transfer takes a couple of hours to deliver.

Comparison

• Remitly offers easy to use online interface. Western Union provides a vast network of agents in more than five hundred thousand locations with agents enabling cash pickup that allows users to send and receive money from over two hundred countries.
• Remitly charges $1.99 per transaction, and western union charges $20 per transaction. Remitly offers money transfer delivery in one to two days, and western union offers money transfer in three to five days.

If you are looking for western union alternatives that allow direct bank deposit and delivery through agents, the MoneyGram is a great choice. MoneyGram is a transfer money service that has more than three hundred thousand agents across the globe.

Features Fees

MoneyGram has a transaction fee for $50 to $900 with a flat rate of $11.50. Greater than $900 costs 2%. Transaction fees for up to $50 cost $5 or lesser.

Charges

• Money transfer through credit and debit cards also has separate charges from the card companies.
• If you are making a transfer of $1000 from the U.S. to India, it costs $2.99 per transaction.

Time Duration

If you are sending money online, agent, bank account, cash transfer, and international money order, it takes a couple of hours.

Comparison

Orbit Remit

If you are looking for a cost-effective and fast transfer money services, Orbit Remit is a great fit. Sending money anywhere is made simple by Orbit Remit. It is one of the best, fastest, safest service provider that helps you send money across the globe.

Features Fees

• The transaction fee cost £4
• 0.43% of the overall cost for low, medium, and high-value transactions.

Charges

Charges are the same for a transaction worth $60 to $9900. The costs vary depending upon factors like the origin and destination of the transfer.

Time Duration

Most of the transfer happens in twelve to twenty-four hours and can be as late as five to seven business days.

Comparison

Mobile wallet, online banking, local & international transfers, instant transfers, credit card and debit card linking to a bank account, Q.R. code payments, and transfer templates offered by Paysera make it one of the best western union alternatives.

Features

• Debit card linking to your bank account with no maximum transfer limit.
• Money transfer
• Currency exchange
• Split bill feature
• Payments with Q.R. codes.
• Integrations with SMS, QR codes, and other solutions
• Event ticket selling.

Fees

• Transfer between Paysera accounts is free.
• International transfer to SEPA countries costs €7 for swift transfers.

Charges

The company does not specify details on charges.

Time Duration

The time duration for international transfer usually takes a couple of hours and, at the maximum, take one to three business days.

Comparison

InstaReM is the best among the western union alternatives and is an excellent choice for easy to use, faster, and cost-effective international money transfers for individuals and businesses. InstaReM offers a mass pay platform to large corporations to make bulk payments to multiple beneficiaries in multiple currencies.

Features Fees Charges Time Duration

• Most of the transfers happen within one to two business days.
• The duration can increase depending upon the receiving bank.

Comparison

Through Xoom, users can send money anywhere anytime. The money-back-guarantee/ SMS alerts enable users to make transactions without any hassle. Xoom offers faster bank deposits; mobile reloads, SMS for tracking alerts, payment of bills, and much more in a few clicks.

Features Fees

Xoom provides an upfront fee calculation where users can enter the transfer details like transfer origin and receiver currency and get the exchange rate. Xoom offers 1 USD = 72.7156 if you are looking for a money transfer from the USA to India. The conversion calculator is available for users to get the exchange rate upfront.

Charges

Xoom charges a transaction fee based on the currency users need to convert and the country of transaction. $5.99 is charged for transactions up to $999 and $9.99 for transactions higher than that.

Time Duration

Xoom requires two to three business days if the transaction is made on or before 4 pm PST. Because Xoom first settles the amount with the sender's bank.

Comparison

OFX is a money transfer company that enables users to transfer money worldwide with no transfer fees with a small amount of markup on the exchange rates, making it a favorite of a regular online money sender.

Features Fees

OFX does not charge transaction fees from its users for any international money transfers if the amount is more than $10000/ £5000

Charges

OFX charges an exchange rate of 0.6% to 2%. The rate slides down as the number of exchange increases.

Time Duration

Usually, the transfer of funds happens in one to two business days. For a few exotic currencies, the transfer time maybe three to five days. OFX operates 24/7.

Comparison

• Transfer Wise charges on the total transfer amount. There are no transaction fees for traditional bank transfers. Debit card/ credit card transfers cost 0.3% to 2%. OFX does not charge any transfer fees.
• Transfer wise charges a standard mid-market exchange rate without any margin/markup. OFX offers lesser charges for a higher amount making it the best exchange rate provider in the market.

Conclusion

Workforces from companies across the world are moving remote. With a significant number of people moving towards freelancing, moving countries for work, and exploring various opportunities globally, the mode of payment/ money transfer has also been changing from the traditional bank transfer methods. With the highest number of users worldwide, Western Union is the most frequently used and the oldest international money transfer company. Western Union offers money transfer services worldwide through mobile wallets, bank transfer through mobile, in person, and phone.

It also enables its users to choose multiple payment options, track their transfer, pay their bills online, opt for cash pick up, membership programs, and global access to over two hundred countries. While the western union is known for being the fastest means of money transfer around the world with multiple options, disclaimer challenges, erroneous transactions, and higher transaction fees result in users looking for western union alternatives to transfer their money around the world. TransferWise, CurrencyFair, RiaMoney, Remitly, MoneyGram, OrbitRemit, Paysera, InstaReM, Xoom, and OFX are some of the best western union alternatives.

Western Union alternatives offer some features that make them the best money transfer company around the world. Zero hassle bank transfers, international money transfers with a mid-market exchange rate, enabling users to transfer money worldwide in multiple currencies, recurring payment, cash pick up, faster delivery, and exchange rate alerts few of those features. However, the minimum and maximum limit of money transfer, exchange rates, time to deliver, and transfer fees vary from one provider to another. While some of them offer mid-market exchange rates, the others provide a real-time conversion rate.

There is no best money transfer company because while one user provides faster delivery of cash through agents, the other provides a higher exchange rate, and so on.

Choosing the right money transfer company depends on numerous factors. It is essential to choose a provider based on the reason for money transfer, frequency of money transfer, and the receiver's currency to get the best service and features. If you are looking to transfer money frequently to your loved ones, you would want to consider the provider offering a higher exchange rate and a reward system.

But large corporations looking to make massive transactions might be looking for western union or western union alternatives for a variety of other reasons. If you are a one-time user looking to travel for pleasure and want to consider a provider with a reasonable exchange rate for once in a while transfer/debit card transaction, then your criteria of selection would change accordingly.

Thanks to the numerous wester union alternatives in the market, there are tons of options suitable to choose from for both individuals and businesses for a variety of money transfer services. We have discussed the features, delivery duration, charges, and comparison of western union and its alternatives in detail, enabling users to understand the variety of features and charges by each of them to choose the best provider that is most suitable for their requirements.

Questions asked while looking for Western Union alternatives :

Regina is Guest Contributor at Sprout24 and Web content analyst at Ad Week. She loves writing about sales and marketing software reviews in business that help them in a big way with driving conversions.