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    1. Samuslj is offline

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      #1

      Is Western Union a reliable payment method?

      Is Western Union reliable? Does anyone have specific experience. I am curious for both simple personal transactions and business models, etc, etc receiving and paying.
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    2. moneyman9000 is offline

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      #2
      Western Union is geared towards personal transfers, not business transfers obviously. You are not protected like PayPal – caution should be used when sending payment by Western Union.

      • some legitimate sellers do accept W U, but some are scams
      • unlike a normal bank transfer, one cannot track the transfer after the recipient claims the money
      • Western Union is a quick way to send sums of money to a physical location from your account

      For sending payments:

      • Identify the sender and W U location
      • Choose payment source: bank account, W U Card, etc.
      • Hold on to confirmation statements

      For receiving payments:

      • W U will give you an MTCN number, but this is often just for administrative purposes
      • You will need to properly identify yourself and the sender in order to receive the money
      • You may need the MTCN number for international transactions or rare situations
      • Also, exchange rate fees will apply for international transactions
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    3. sj300 is offline

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      #3
      The card does have costs tho. I’ve started using another service I really like. I think it’s easier to use then WU myself and it has better features. It’s called AccountNow, and it is just a lot more user-friendly – again, IMHO – than WU. Here are the details of the WU card compared to AccountNow:

      • AccountNow has 148,000 locations; Western Union has 43,000.
      • AccountNow’s max card balance is $10,000; WU’s is $2,500.
      • They are both FDIC-insured.
      • AccountNow offers Credit Builder, which helps you build a payment history; Western Union does not.
      • AccountNow has free online bill pay; WU charges $0.99 per payment.
      • AccountNow offers free SMS text alerts; Western Union does not offer this feature.
      • AccountNow has no card activation fee; WU’s is up to $7.95.
      • AccountNow offers $20 per friend referral; Western Union doesn’t offer this service.
      • AccountNow provides the iAdvance Line of Credit; WU doesn’t have a feature like this.
      • AccountNow has a Personal Finance Info Center; WU doesn’t.
      • AccountNow’s average monthly card usage cost is $7.50; Western Union’s is $8.96.

    4. moneyman9000 is offline

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      #4
      F.Y.I. I checked AccountNow's website and the costs are based on 8 PIN transactions, 7 signature transactions, 3 cash withdrawals, 4 online bill pays (2 electronic/ 2 mail), 2 bank-to-card transfers.

      To summarize this thread, Western Union isn't a bad service, just not one you should use as a supplier (because people wont buy from you!) or as a bulk purchaser (risking large sums of money is even worse). However in proper forums, it can be useful, though I recommend PayPal. I know people use Western Union a lot for personal payments, but it's generally considered inappropriate for business payments.

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