Western Union

Western Union Review by Rating: 1 out of 5

Western Union Review

Western Union has been voted 1/5 or 18% out of 710 recommendations. CurrencyComparison.co.uk has researched their Foreign Exchange Business and we would advise to read our review before using Western Union.

Western Union

Who are Western Union?

So who are Western Union? Western Union the largest US provider of money transfers was founded in 1850 as a telegram exchange firm. Headquartered in Colorado, the company has traded the once innovative telegram service that pioneered early computer networking for financial services.

Since the early 1980’s Western Union re-invented itself as ‘the fastest way to send money world-wide’, expanding its global agent locations when deregulations in the industry coincided with significant growth opportunity in what was then a new marketplace.

Services Offered

Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services.

Western Union Western Union / Global Money Transfer

Why should I use Western Union?

A transfer of 1,000 euro to dollars was calculated by Western Union at an exchange rate of 1.11 euros to dollars- below the mid-market rate of 1.40. Adding the 4.90 euro fee, Western Union charges over $290 to transfer 1,000 euro from Europe to the US.

TRUSTPILOT rating of 8.1 with 552 reviews. The process of going to a specific agency to receive funds creates multiple problems as agencies simply shut without Western Union making note of the changes. Clients report travelling distances to collect remittance only to report to Western Union of a closed agency. Invariably this led to long delays after frequent calls to customer service representatives unable to process remedial approaches. Telephoning Western Union to notify of a change of residential address proved an issue with many clients who reported customer service ‘overwhelmed and incapable’ of this transaction, alone.

Global Money Transfer

Yelp lists 39 reviews that award Western Union with 1.5 out of 5 stars. One reviewer summarized that Western Union’s customers who make domestic transfers are paying the worst transfer rates, but generally can be satisfied that their transfers will ‘likely’ be completed. Sending money globally, he observed was processed effectively only 1 in 3 times. Many times complaints came from clients attempting to use convenient local agencies to make international transfers. These shops had no customer support, so when issues arose, clients were left with ineffective consumer support by telephone.

Clients are lulled into thinking the company is the industry standard and that presenting cash or credit at an agency is the only way to transfer money. Western Union and MoneyGram have a large share of transfer business simply because a competitive transfer company hasn’t appeared. Western Union’s long trusted brand name simply doesn’t live up to expectations anymore.

Business Information

Registered office address: Englewood, Colorado, United States

Incorporated on: 1851