How does Western Union work – If you are in America, Europe, Africa, or any continent of the world, and wish to experience the leisure of a cross-border money transfer solution, Western Union may just be the best fit for you.
There are instances where sojourners are looking to send money back home for any of the following reasons;
- Projects, and other related circumstances that may arise from time to time; Western Union provides a seamless opportunity in the money transfer market.
If you are trying to check out Western Union for the first time, you’d sure get a handful of questions begging for genuine answers.
In this guide, I’ll provide the right answers that match your inquiries and curiosity before you take a shot at Western Union.
The below questions and many more will be addressed;
- How does Western Union work when sending money?
- How does Western Union work to receive money
- How does Western Union work internationally?
- What receiver information is needed for Western Union
- How does Western Union work in Nigeria
- How to send money through Western Union in person, etc.
How does Western Union work?
Western Union works like any other cross-border money transfer platform like; Money Gram, Ria, WorldRemit, Boss Revolution, etc.
1. To send money with Western Union, you will need to visit a Western Union money transfer agent in your location, or you take the option of sending money via the WU app.
2. You are required to provide a few government-approved documents like the work/residence permit, home address, and a verifiable ID card.
Where you are using the app, follow and upload the list of recommended documents to gain access to send money around the world.
3. You will have to complete a Western Union money transfer form at the agent location, or on the app.
You will have to capture the following;
- Receiver’s details; name, country, and city
- The amount you wish to send
4. Having completed the above, your transfer will be processed, and a 10-digit Money Transfer Control Number (MTCN) generated depending on the destination country.
Finally, your transfer can be cashed out after having met the necessary receipt details by the receiver.
How does Western Union work to receive money?
To receive a Western Union transfer in your country, you will need to visit a Western Union money transfer agent in your country, or designated banks where appropriate.
In Nigeria, you will have to visit any of the commercial banks that pay out the Western Union money transfers.
A few of these banks include but are not limited to;
- Polaris Bank LTD
- First Bank of Nigeria
- Access Bank
- Union Bank, etc.
Kindly walk into any of the aforesaid banks and request to receive a Western Union money transfer.
Be sure to visit the branch with the following;
- The 10-digit MTCN sent to you by the sender
- A valid Primary ID card, be it; a NIN, Driver’s license, voter’s card, or International passport
- The amount you are looking to receive
On arrival, you will be required to complete a Western Union money transfer form except where they have gone formless.
Kindly supply the required details as appropriate.
Having completed the form, the money transfer officer will proceed to the system and process your transfer.
Where every detail is correct, the transaction phase will be processed and completed successfully, and you will receive the money in USD at this time.
If Mr Mikel Johnson who resides in California decides to send money home/Nigeria to his family for upkeep.
He’ll have to visit a Western Union money transfer agent/Walmart in most cases for this purpose.
He’ll be required to provide necessary documents to support such transfer, which may include a residence permit, a photo ID, home address, etc.
On the completion of the transfer, a 10-digit MTCN number will be generated for Mr Mikel Johnson.
Mr Mikel will in turn send the MTCN, amount sent, and receiver details to his beneficiary in Nigeria, Mr Daniel Johnson.
Mr. Daniel Johnson will now visit any bank in Nigeria that offers Western Union money transfer services.
On arrival, he’ll be required to complete a Western Union money transfer form; where he’ll input the first 6 digits of MTCN, amount, his complete name, and a valid ID card that contains his preferred name as seen on the transaction.
The money transfer officer will process the transaction, and pay Mr Daniel Johnson in USD.
Note: The receiver is under obligation to send his/her name exactly as contained in their preferred photo IDs to the sender.
Any error of omission or commission will result in a non-payout of such transfers until details are corrected to match the photo ID.
How does Western work internationally?
Western Union transfers works internationally as follows:
Initiation by Sender:
The process begins with an individual in one country (the sender) who wants to send money to someone in another country (the recipient).
Choose a Transfer Method:
The sender selects a method to transfer money internationally.
Online money transfer services, banks, or even mobile apps.
Verification and Authentication:
The sender may need to provide identification and details about the recipient to comply with anti-money laundering (AML) and Know Your Customer (KYC) regulations.
This is usually more stringent for larger transfers.
Selecting Currency and Amount:
The sender specifies the currency in which they want to send money and the amount to be transferred.
Payment to Transfer Provider:
The sender provides the money to the chosen transfer provider, which can be in the form of cash, bank transfer, credit card payment, or other accepted methods.
Transfer Provider Processes Payment:
The transfer provider processes the sender’s payment and converts it into the recipient’s currency at the current exchange rate.
They may charge a fee or a markup on the exchange rate.
Transfer to Recipient’s Account:
The recipient’s information, including their bank account details or other preferred method of receiving funds cash pick up in this case, is used to facilitate the transfer.
Transfer Provider Sends Money:
The transfer provider, agent in this case sends the money to the recipient’s account or designated location.
The speed of this process can vary depending on the transfer method chosen.
Some transfers may take a few minutes, while others may take several business days.
Recipient Receives Funds:
Once the funds are available to the recipient, they can withdraw or use the money as needed.
Confirmation to Sender:
The sender may receive a confirmation notice or receipt, often via email or text message, indicating that the transfer has been completed.
What receiver information is needed for Western Union?
The sender is required to have a few receiver’s information before the money can be rooted through.
Some of the receiver information required are;
- Receiver’s complete name as seen on their photo IDs
- Receiver’s country and city
Other information that is required of the receiver are; The 10-digit money transfer control number (MTCN) also known as the tracking number, the amount being sent, and a secret question where applicable.
Western Union is a cross-border money transfer solution, it’s reliable, safe, and swift in transaction delivery across the world.