Source: Freepik.com
Making international money transactions is no easy task. But, with the right money transfer platform – Western Union, you can make it happen effortlessly.
If you’re looking to make first-time money transfers internationally using Western Union but don’t know how to do it, no worries at all.
Step into this informative blog post to discover some of the best tips to leverage Western Union to send money internationally for the first time.
1. Understand the Fee Structure
Asking yourself, how to transfer money to US from Canada or wherever you want. If so, you should know about the fees that Western Union charges.
Understand the cost of your transfer, which may vary based on the remittance amount, payment options, and your recipient’s country of residence. So you can avoid extra expenses and negotiate a more financially sound deal.
2. Choose the Right Payment Method
Western Union’s versatile payment options, including bank transfers, credit or debit card payments, and cash payments, empower you to choose the method that best suits your needs.
Each method has its own set of benefits. For instance, cash payments with Western Union might be more efficient in some cases, including emergencies.
However, it can be less expensive and less problematic if you choose a bank transfer for larger amounts to be sent. Once you consider your specific needs, you can better define which method is more suitable for your international transaction needs.
3. Verify Exchange Rates
When doing remittance, you should explore the exchange rates on Western Union’s official website or mobile app. The high and stable conversion rate can significantly affect the final amount of money which is transferred to the given recipient.
To determine whether the rates given by Western Union are reasonable, compare them to domestic and international rates currently in the market. Even a slight percentage difference might mean the loss of a substantial amount. Hence, it’s wise to be informed before transferring your funds.
4. Double-Check Recipient Details
Now is the time to ensure that the information about the recipient is correct. Check and verify details like the name of the recipient, phone number, and any bank details when transferring money directly to a bank account.
Slight errors in these details can result in postponements, difficulties or even impossibility of proceeding with transactions. You can avoid many problems in the future by spending just a few minutes to double-check your recipient’s details.
5. Utilize Tracking Features
Western Union also offers real-time tracking services. Once you have transferred your money, you and your recipients will get a tracking number to track your transaction’s progress.
This extra layer of tracking isn’t only beneficial to you but also ensures the recipient knows when they should expect the funds. Hence, the tracking feature offered by Western Union will make your transaction process even more efficient and secure.
Final Words
International money transfers aren’t all about sending money to and from; it’s all about convenience, the best value for your money, and financial security. So, be wise and start making international transactions with Western Union to get all these benefits.