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Western Union Review: Is it legit, safe and trustworthy for UAE citizens and residents?

Because Western Union maintains such a vast global network of agent locations and bank links, the company makes it simple to transfer money to virtually any destination on the planet. Depending on your circumstances and available resources, you can choose to transfer money quickly for higher costs or a little bit more slowly for lesser rates. Visit Western Union (WU) Website.

However, considering the history of consumer complaints and lawsuits filed against Western Union, you may want to consider looking into other, more local providers of money transfers that have a better track record and who also provide better exchange rates and cheaper costs. In spite of this, Western Union is nearly always going to be a more cost-effective choice than using your bank, particularly when making one-time transfers or transferring money to far-flung locations.


Long-standing provision of service Since 1871, Western Union has been in the business of managing both local and international money transfers.

Huge network. Western Union is one of the leading suppliers of money transfer services in the world. The company has over 500,000 agent locations globally, spread over more than 200 countries. The United States alone is home to more than 42,000 different agent locations.

Flexible transfer options. You have the ability to pay using a variety of methods, including cash, credit, debit, bank accounts, and more when you use a combination of online and agent location services. In addition, the business transfer alternatives offered by Western Union allow you to apply hedging techniques, giving you even greater freedom.
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Fast transfers. Transfers made with Western Union can sometimes be completed in as little as a few minutes, which can be helpful in times of crisis or when you just do not want to wait a few days for your transfer to be processed.

What should be kept in mind is:

Unfavorable exchange rates Due to unfavorable exchange rates, less money will be sent to your receiver and a greater amount will be sent to Western Union. The exchange rates provided by Western Union can sometimes be as much as twenty percent more than the rate that is considered to be typical for the market.

Maximum transfer limitations. The amount of money that can be sent through the internet is subject to a maximum cap, the amount of which is established by the destination country. On the other hand, agent locations almost never impose such limits, provided that the sender can produce sufficient identity at the time of the transaction.

Costly charges. A transfer charge, which can range anywhere from $3.50 to $100 or more, will be applied to almost all transactions that are processed through Western Union. Expect to pay a fee whenever you send money using Western Union, regardless of whether or not there is an ongoing offer or a coupon available.

What are the fees for sending money using Western Union? We have seen fees for sending money with Western Union ranging from as little as $3.50 to as much as $100 or more. These prices vary depending on the location to which the money is being sent. These fees are determined both by the method by which you will pay for the transfer and by the method by which the transfer will be collected. Agent location costs are not normally stated online; nonetheless, the following factors determine Western Union's online fees:

Location. When you ship packages to different nations all around the world, the costs that you are responsible for paying will vary.

Payment. There will be various costs assessed whether you pay with a credit card, a debit card, or directly from your bank account. It is important to keep in mind that if you opt to pay with a credit card, you may also be subject to additional costs from the company that issued your credit card.

The way of receiving. It is often more costly to withdraw cash from an ATM than it is to have money deposited directly into a bank account.

The quantity of money you send, the form of payment you choose, and how the receiver would like to get their cash all play a role in determining how much it will cost you to transfer money by Western Union within the United States. There is still a considerable price that must be paid in order to transfer $100 from your bank account to their bank account, and that fee is $14.00.

A cash pickup will cost you $20.50, while sending the same amount from your credit card would cost you $20.50. The most money that may be transferred in a single day is $5,000, and the most expensive charge that we've ever seen is $243.

In addition to any costs that may be assessed, Western Union makes its profit by tacking on an additional margin to the exchange rate. It applies a variety of different currency rates to the various sorts of transfers.

It also applies more favorable or less favorable conversion rates depending on the currency that is being transferred. You may find out what kind of currency rate you would be provided on your transfer by using the pricing estimate tool that Western Union provides.

When trying to determine the magnitude of the margin that is charged, it is essential to compare the rate that is listed on Western Union to the rate that is currently being offered in the middle of the market. Then, when comparing the rates of various money transfer services, use the rate offered by the interbank as a standard to compare against.

There is a wide variety of money transfer alternatives available with Western Union.



The following steps will walk you through sending a money transfer online using the Western Union website and its app:

You will be required to set up an online profile with Western Union before you can send your very first money transfer with the company:

Step 1: Create a profile
Step 2: Select the Send Money button.
Step 3: Select Your Preferred Method of Receiving
Step 4: Select Your Preferred Mode of Payment
The fifth step is to check and double-check.

Your intended receiver can choose from a few different methods to get their money if you send it to them using Western Union. Make your selection from one of the following options:

Cash (in-store)
Account at a bank
Card for prepayment stored in a mobile wallet
Pay your bills

Western Union gives its customers a number of different payment choices, each of which comes with its own individual range of restrictions, fees, and limits. The following are some of the alternatives available to you via the website, the telephone, and in person:

Credit card Debit card
Cash from one's bank account (in-store)
Transaction by wire

Sending your transfer through a variety of methods will allow you to select the one that best suits your needs in terms of speed, cost, and other considerations.

If you pay for your transfer using a credit or debit card and have it sent for cash collection, you will normally incur a higher charge; however, your money will be available for pickup in as little as ten minutes. However, depending on the terms of your credit card agreement, you may be subject to a cash advance fee, which may bring the total cost of your transfer even higher.

Making a transfer through your bank would be the alternative that would cost less but take longer. This might take up to five days of regular business hours. It's possible that you'll have to wait longer while Western Union verifies that you hold the registered bank account. This will depend on the verification needs.


Your restrictions will change depending on a variety of different criteria, such as your transfer history, location, the destination of your transfer, and the service that you select.

When entering your transfer information in the Send Money part of the Western Union webpage, you will have the opportunity to view the maximum amount that may be sent.

When sending money straight from your bank account to the bank account of the recipient, Western Union lets you send up to fifty thousand dollars from the United States. If you want to conduct a large money transfer, Western Union is the way to go. Bear in mind, however, that this limit could not be accessible for some of the receiving nations, and that it is subject to limits depending on the variables that were discussed before.

There are often no limits placed on the amount of money that can be transferred at an agent location. However, the amount of money that can be accepted is capped in many nations. Calling Customer Care is the best way to get answers to any queries you may have regarding the precise amount you are sending or the nation to which it is being sent.

To ensure that your money is sent to the correct recipient, Western Union employs a number of regulations and processes, such as requesting a picture identity and verifying the recipient's tracking number (MTNC). In addition to this, it instructs both its sales representatives and end users on how to avoid becoming victims of fraud and other cons.

Typical cons committed via Western Union include the following:

Payment demands. Someone you met online will sell you anything but they insist that you pay for it via Western Union money transfers. They disappear after taking the cash that you had deposited at a Western Union agent location, and you are unable to contact them in any way.
Overpayment fraud. You are given a check that, at first glance, seems to be legitimate for a new job, a service, or a product that you are giving. Since the amount of the check is higher than what you were able to earn, the sender of the check has requested that you reimburse the difference through a money transfer. You will find out that the check was returned to you as unpaid after you have already sent the money transfer, and there is no option to cancel the money transfer.
Tax scam. Someone contacting you and purporting to be from a government agency informs you that you are behind on your tax payments and that payment is required immediately. They will assert that sending money through a money transfer is the quickest way to avoid incurring fines while doing so.
Before a user performs a money transfer, Western Union gives very obvious warnings on their website to protect them from falling victim to schemes like these. Users are required to choose Accept before they are able to send their transactions once they see this popup alert.

Western Union maintains a specialized Twitter account for the purpose of raising awareness against fraud. On this account, the company tweets in real time about the most recent and pertinent fraud schemes as they emerge. Additionally, Western Union now provides customer service around the world via phone lines that are open around the clock.

Western Union is an international money transfer company that was founded in 1851 and has its headquarters in Denver, Colorado. After beginning as a telegraph service, the corporation expanded into the money transfer business in the year 1871. Since then, this has been rising through wire transfers, money orders, and other broad forms of money transfers to over 200 other nations.

Between the years 2004 and 2010, Western Union was the subject of more than 550,000 complaints regarding fraudulent activity and was accused of facilitating fraudulent transactions. Since then, it has already settled this matter by paying fines totaling more than 586 million dollars. It is imperative for your security that you take the additional precaution of only transferring or receiving money from persons you already know and are familiar with.

You may get in touch with the customer service team at Western Union by live chat, the phone, or the post. A section devoted to frequently asked questions is also available on its website.

You have ninety days to pick up money transfers once they have been sent. If the receiver is unable to pick up the cash and it has been more than 90 days after the transfer was initiated, you will need to contact customer support in order to have the transfer revived and made available for payment.

You will need to sign into your account if you want to stop the money transfer that is currently in progress. Take a look at the recent activity on your money transfer accounts, and identify the transaction that you would like to cancel. You will be allowed to call off the transfer solely in the event that the money has not yet been collected or deposited. The amount of money that will be reimbursed will be determined by the type of service that was selected as well as the reason that the reservation was canceled.

The majority of reviews for Western Union are good, however as is to be anticipated, there are some bad evaluations to be found on review sites such as Trustpilot and ConsumerAffairs. Given that Western Union serves hundreds of millions of clients, it should come as no surprise that a significant number of its consumers have had both positive and negative experiences with the company's services.

The costs charged by Western Union can't be completely avoided, but you may work to keep them as low as possible. Avoiding the use of credit cards as a form of payment is one strategy for accomplishing this goal; credit card use typically results in the accrual of large transaction fees.

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Additionally, bank transfers often come at a lower cost than cash pickups. To get a better idea of how Western Union's costs and exchange rates match up against those of other money transfer services, it's a good idea to check out the competition.

Western Union is the world's oldest money transfer firm, having been founded in 1851 and continuing its operations today. They are a federally supervised financial institution in the United States, with its headquarters located in Denver, Colorado.

Western Union protects your money and personal information by using the most modern encryption technologies available online. To ensure that the correct person receives your cash when you make an offline transfer, they ask both you and the receiver to have a form of identification approved by the government and to share the unique transfer number known as the MTCN.

In the past, Western Union was in the news for its inability to prevent frauds involving money transfers and laundering of illicit funds.

In recent years, they've begun taking additional precautions, such as assisting in global efforts to raise awareness about how to spot and prevent fraud and scams.

Because of its widespread availability and support for a broad number of recipient countries and currencies, Western Union might be a good choice for transactions involving a modest amount of money (both major and exotic).

If you are in the United Arab Emirates, it won't be difficult for you to find Western Union agent portals because they are incorporated into convenience stores, gas stations, and cash checking locations.

Nevertheless, you will pay a price for convenience, and transfers can become very costly, particularly if you are dealing frequently or for bigger sums of money.

 

 

Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.