Western Union


The Knowledge You Have To Master When Online Shopping — Western Union Makes Online Trading More Convenient

What is the Western Union?
Western Union is the world’s leading fast remittance company, It does not necessarily require a bank account, and Less than $10,000 in business transactions no need to provide approval documents from foreign exchange regulators.

How long does Western Union remittance arrive?
Remittances can be received within 10 minutes, very fast and convenient.

Western Union remittance /withdrawal operation process
First, after the buyer and seller’s transaction is reached, they agree to use Western Union.
Before the buyer sends the Western Union remittance, the seller must provide accurate information to the buyer
Payee Country. Province, City, First name, Last Name, Detailed Address, Gender, and ID Number.

Second, the buyer goes to the local West Network point.
Fill in the remittance information form, Pay the remittance fee, and Present a valid ID.
Once the submission is complete, the bank will provide you with a Monitoring Number (MTCN), which is the verification code used to withdraw funds from the seller.

Third, then contact the payee and tell him/her the necessary information, such as:
Sender’s sender: First name, Last name,
Amount expected (excluding the exact amount of the handling fee),
Currency name: USD,
City, Country money sent from,
Money Transfer Control Number (MTCN),
Test Question & Answer,
The focus is on the remittance monitoring number. Without this monitoring number, the payee cannot get the money.

Forth, after receiving the notice from the payer, the payee checks via the Internet or dials the Western Union Service Number to ask if the withdrawal can be made?
If you can, go to the Westlink to withdraw money as soon as possible, and you need to provide the required information.

Note: Cancellation of Western Union remittances usually only returns the principal, and the handling fee is difficult to return.

Western Union Remittance Limit
At present, the amount of a single foreign exchange receipt for Western Union dollar is up to 20,000 US dollars (inclusive).
The limit for a single foreign exchange receipt of the euro is up to 20,000 euros (inclusive).
A single amount limit for certain regions of the United States, up to $9,000 (inclusive).
In other countries, the maximum amount of a single amount can be up to $15,000 (not included).

Western Union official website online query outlets
1. Enter the official website of Western Union
2. Choose your country
3. Find Western Union agent outlets around the world to make remittances, purchase drafts, or pay bills

The Western Union remittance process is only applicable to Western Union’s Western Union remittance and withdrawal operations.
1. Enter the Western Union official website
2. Confirm the Western Union remittance information filled in
3. Optional credit card, debit card payment
4. or bank transfer payment method

The Perfect Assistant Of Online Shopping — Western Union As The world Largest Remittance Company

The Profile of Western Union
Western Union was founded in 1851. At first, the company’s business was telegraph business. By 1860, the company’s telegraph network had been connected to the US East and West. In 1871, Western Union launched a remittance business with great foresight. In 1987, the struggling Western Union was acquired by Bennett LeBow with the help of junk bond king Milken. LeBow invited Robert Amman as the CEO of the company. Under the leadership of Amman, the company began a six-year business restructuring, focusing on the remittance business. Finally, in 2006, the company was separated from First Data as an independent remittance business.

Today, Western Union is the world’s largest remittance company with more than 20% of the global market share and one of the only two companies in the world that truly have a global remittance network. The company has 490,000 cooperative outlets in more than 200 countries and regions, including outlets with local banks, and employs 7,000 people.

The industry introduction of Western Union
The business competition in the personal remittance industry is fierce. Banks, credit card companies, online remittance service providers, etc., which compete with Western Union for this business. As a leader in the industry, Western Union’s market share is less than 20%. Western Union wants to win consumers through branding, fast, convenient and multiple choices of remittances. In addition, Western Union remittances rely on lower prices to attract remitters, and there is no ability to constantly raise prices. The company’s global network is its biggest competitive advantage. The scale effect also brings a large cost advantage to the company. In the future, the company still has the opportunity to continue to use its cost advantages to squeeze small competitors in the industry.

The growth strategy of Western Union

The company strategy of Western Union is the international expansion, especially for the low-income population with a global income of 1.5 to 2.5 billion daily income of less than 2 US dollars. On the regional front, the low-margin Asian region is still the biggest driver of growth, and North America will maintain a small increase as the economy recovers.

In November 2015, the world’s payment service leader, Western Union Remittance Company (NYSE: WU) and Tencent Holdings Ltd.’s leading social platform WeChat announced today that an agreement has been reached for US WeChat users to reach 200 via Western Union’s WU Connect platform. National and regional remittances.

In April 2017, payment services company Western Union (Western Union) announced yesterday that US users can now pay for Apple Pay in their iOS app, sending money to US domestic payees or payees in more than 200 countries around the world. The company said that Apple Pay will make it easier to make domestic bill payments within its iOS app, and users can tap the Touch ID to access their stored bank card information.