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20 Oct 2010 04:04 AM #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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20 Oct 2010 05:25 AM #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 transactionsOver 150,000 Verified Sources + Deals 95% Off MSRP + Free Website!
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21 Oct 2010 01:26 AM #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.
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21 Oct 2010 01:42 AM #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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