Western Union
One of the more well-known and most oft-used money transfer services is Western Union. Western Union has been around for years; they help people quickly and economically send the money they need. However, in recent years, Western Union has undergone significant technological advancements. We’ve all known about Western Union for a while. Simply go to a Western Union location, give them the money, and send it to another agent location where the other party can pick it up. This system is still in effect today, and it works with only a few minor flaws. The overall usability of the service is limited – in an on-demand world, this is a slow and tedious process. Driving to the agent location, filling out a fairly long form, completing a financial transaction is a fairly long process. Then, the receiving party has to complete about the same.
In recent years, Western Union’s website has undergone technological advancements that have streamlined the whole process of sending money worldwide. Instead of the static HTML website that they used to have, they now have a dynamic – highly functional – site that showcases everything Western Union has to offer. The site, www.westernunion.com, offers online order placing. That means that a user can log-in, choose who they want to send money to, and place an order securely with a credit or debit card. The receiving party can then pick the money up at any Western Union location, making the whole process even easier. This is an invaluable tool for those who are on the go. Western Union’s fee structure for these transactions varies, but about 12.5% seems to be the norm.
In addition to their trademark ‘Money in Minutes’ service, they have several other options for sending money. Western Union offers a bill-pay service called ‘Convenience Pay,’ which costs only about $2 per transaction. It is mainly used to pay utility companies, but can be used for other bills as well. For those who don’t have credit cards, there is a cash payments service. A sender can go to an agent location and send payments for goods or services purchased through TV or catalog orders.
Overall, Western Union is a reliable and safe way to send and receive money. It’s quick and increasingly easy, thanks to the added functionality of their site. However, if there is a drawback, it’s the fees. Paying $25 to send $200 is a bit steep, but it may be worth it when in a pinch.