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Western Union Review

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About Western Union

Western Union Online is a very good option to send money overseas (7.5/10), endorsed by bunch of websites experts. With over 150 million customers and moving tens of billions of dollars annually, Western Union is an extremely trustworthy service (7.5/10), although not very transparent about its pricing. Using high-quality and easy-to-use web and mobile platforms (8.0/10), which attract all-around positive feedback (7.6/10), Western Union Online customers can take advantage of reasonably good fees and exchange rates (7.0/10), especially for deposits to bank accounts.

Western Union, the global money transfer service from one location to another, is now at your order at all our branches, online Internet branch and İsCep.

To use the advantages offered by Western Union, a global money transfer service, you just have to visit our online branch, one our physical branches nearest to you or you can use our mobile application İsCep and you can easily transfer money to your relatives in any corner of the world thanks to the privileges offered by Western Union.

Western Union is a fast, reliable and widely popular money transfer system that allows you to transfer or receive moneys within minutes*. It has a presence in more than 200 countries globally and it has been in service for more than 150 years.

You can transfer (and receive) funds through Western Union via our online branch, İsCep or more than 1300 branches throughout the country.

You can transfer or receive funds through Western Union at Is Bank branches within minutes* even if you are not a customer of our Bank or you do not have any account at our Bank.

Send Money

Unless you are a customer of our Bank, you have to fill in the requisite form with certain details at the branch nearest to you, including the destination country, the recipient’s name and the transfer amount, and you have to present your ID. Following the money transfer, you should notify MTCN (Money Transfer Control Number) number that you will get from our branch to the recipient, who may get the money within minutes.* We would like to remind you that you should be careful not to share MTCN number to those who you don’t know.

If you are a customer of our Bank, you can also transfer funds via our online branch and İsCep.

In a money transfer through Western Union, you do not pay a fee other than the standard transfer fee charged on the basis of the sum to be transferred and the currency.

*Transaction times may differ from country to country as well as international time zones.

Receive Money

If you are not a customer of our Bank, you can visit one of our branches nearest to you and you can get the money you are expecting by filling in the form which shows the sender, the expected amount and the Money Transfer Control Number (MTCN), and by presenting a valid ID of yours. In Western Union transactions, transaction fee is solely payable by the sender. No fee shall be charged for the payment of funds to you. If you are a customer of our Bank, you can receive the funds online by Internet Branch or İsCep.

Western Union’s Fees & Exchange Rates

Western Union Online sometimes ranks as one of the cheapest services available for cash pickups, although extremely seldom for bank transfers. This is despite the service still very often being competitive on bank transfers, meaning Western Union offers comparatively cheap fees for these transfers.

Western Union’s Fees

Western Union’s fixed transaction fees vary significantly depending on where you are in the world, the country you’re sending to, as well as your desired pay-in and pay-out methods. Generally, Western Union doesn’t charge a fixed fee for bank-to-bank transfers (although there are sometimes exceptions) and fees are more likely on cash transfers.

If you live in the US, you can see an overview of what fees you can expect to pay using Western Union’s price estimator tool. If you’re sending money from Europe using Money In Minutes, you can find an overview of the relevant fees here.

Western Union’s Exchange Rates

One of the primary ways Western Union makes money on its currency conversion services is via exchange rate margins. These are the difference between the Western Union exchange rate and the mid-market exchange rate (i.e. the one you see on Google.) For most transfers, Western Union’s exchange rate margins are between 0.4% and 1% of the transfer amount, making them a reasonably-priced service, all things considered.

However, it’s worth bearing in mind that Western Union’s exchange rates vary significantly depending on the currency combination involved. Take a look at the chart below to get a sense of how Western Union’s exchange rates are applied from corridor to corridor:

How Western Union Works

Step 01

Check Western Union’s Rates

Use this comparison engine to see how Western Union’s fees and exchange rates weigh up against the rest and make sure they are indeed the cheapest option for your international money transfer. There, you’ll be able to discover both the cheapest ways to fund your transfer and have the money received.

Step 02

Create a Western Union Account

You can sign up for Western Union Online on the web or with the mobile app using your email address. To create an account, you’ll also need to provide Western Union with your full name, residential address, mobile phone number, country of birth, and date of birth.

Step 03

Verify Your Identity

If you’d like to transfer over a threshold limit (e.g. €1,000 or £800), you’ll be required to verify your identity regardless of your payment method. To do this, click ‘Start verification’ when prompted, and then follow the instructions to scan and submit a photo ID along with your signature and the date. Be mindful that you may also be asked a few questions about the source of your funds, the purpose of your transaction, and your relation to your beneficiary.

Step 04

Set Up Your Money Transfer

Once you’ve signed up, you’ll be able to enter how much you’d like to send, your destination country and currency, and your delivery method. At Western Union Online, you’ll generally have several pay-in and pay-out options to choose from, including bank transfer, cash pickup, bank deposit, and credit or card payments.

Step 05

Add Your Beneficiary

Enter your recipient’s details, including their full name, email address, mobile phone number, and bank information. If you’re sending money within the Eurozone, you’ll only need your recipient’s IBAN (the first two letters of which must match the receiving country originally specified.) You may also be asked questions about the purpose of your transaction and the source of your funds.

Final step

Review and Pay

On the final page, you’ll be asked to review your transfer details. These include the amounts sent and to be received, the exchange rate, the delivery time, and your beneficiary’s details. If everything’s in order, click the checkbox to agree to the terms, click ‘Accept,’ and then make your payment according to the pay-in method you originally selected.

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