Western Union vs. bank transfers (2024)

FAQs

Is it better to Western Union or to bank transfer? ›

Online transfer services like Western Union offer cheap international money transfers. Better exchange rates and lower transfer fees often make these providers a cheaper way to send a transfer than using a big bank.

Western Union is reliable money transfer app, with a global network of agents that allows you to send money to over 200 countries and territories worldwide. Whether it's sending birthday money to Bangkok or tuition fees to Turin, Western Union is here to make your money transfers as simple and reliable as possible.

International money transfer services like Western Union can help you easily send money abroad, and the fees may be less compared to traditional banks. Plus, Western Union can be a more convenient option because there are additional methods to send and receive money such as cash pick-up.

Whether you need to send money around the corner or around the world, we make it easy and reliable to transfer money to your loved ones' bank accounts.

Assuming you're sending bank-to-bank, Western Union generally charges between $6.47 and $37.60 to send $1,000. However, the costs could still be higher if you choose a different sending or receiving method. How much does Western Union charge to send $5,000?

Large sums should be transferred internationally via a wire transfer. The fees for wire transfers are generally fixed fees so the amount transferred has no bearing on them. If a changeof currency is involved the rate of exchange is the most important cost element .

To avoid these fees or for reduced fees, use a debit card or check other payment methods.

To send more than 3,000 USD from the United States, you will need to verify your identity¹. Once verified, you can send up to 50,000 USD. You can verify your identity online or at an agent location. Please note: The sending limit may vary depending on the destination country and the service you choose.

The safest way to transfer money to someone is to use a direct wire transfer between banks or a payment app with security features. Beware of scams with either method since getting your money back is hard or may be impossible.

How long does Western Union take to transfer money to a bank account? ›

Money in Minutes service for pick up at an Agent location – generally delivered within minutes*. Next Day service for pick up at an Agent location is generally available the next day*. Direct to Bank deposit typically takes between 2 to 5 business days, but could vary, depending on country.

Pick up cash at a Western Union agent location, or, depending on where you live, have it deposited directly into your bank account or mobile wallet. Visit an agent location near you with your government-issued ID. You'll also need to ask the sender for the tracking number (MTCN).

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.

Remitly — Best for Cash Pick-Up

Like Western Union, Remitly offers various pay-in and pay-out options and supports currency transfers to over 85 countries worldwide, but unlike Western Union, it's often 2 to 5 times cheaper! See our side-by-side WU vs Remitly comparison to learn more about how the two differ.

Send with the app

The Western Union^® app lets you send money from wherever you are, directly to your receiver's bank account.