Youll notice that the rates are different for each provider - and usually not as good as the mid-market rate which youll get using a currency converter or online search. Take a look at Trustpilots website to see the latest reviews and to help you decide which service to use. Simply tell your sender to send a regular Western Union money transfer and then call the GraceKennedy Money Services Customer Service Centre at 876-926-2454 with your MTCN to have the funds sent to your bank account. Heres what Western Union says about their exchange rates: Western Union also makes money from currency exchange. Bank transfers also tend to be cheaper than cash pickups. Redeem your points for reduced transfer fees. Previous. Do you have a TCF account and need to send and receive an international wire? Both MoneyGram and Western Union are licensed and regulated in the countries they operate in. If youre expecting to receive funds directly into your account, it couldnt be more straightforward. With over 500,000 Western Union agents located globally; sending money in person is a simple process wherever you happen to be in the world. Western Union Fees | Western Union Money Transfer Fee Structure Choose the payout option from cash pick up, bank transfer or mobile wallet and then select the transfer payment option. Sending this amount with Western Union would have an exchange rate of 1.00 USD = 1.3551 SGD (at the time of writing), with no fees for a bank deposit paid for by bank transfer. MoneyGram is licensed as an Authorised Payment Institution in the UK and is also licensed in all 50 US states. . If its been less than 30-40 minutes since you completed it, it may not be fully processed yet. As one of the largest money transfer companies in the world, MoneyGram is subjected to a number of regulations to ensure it is capable of keeping your money secure. Jana Pawla II 29, 00-867 Warsaw, Poland, and is a branch of Western Union International Bank GmbH (registration number 256184t, VAT Number ATU61347377) The Icon Vienna (Turm 24), Wiedner Grtel 13, 1100 Vienna, Austria. Track your transfer online using your MTCN number. Both are two of the most long-standing names in the money transfers space, and as such, offer secure and convenient ways to send your money to a wide range of destinations across the globe. Its website also has a FAQ section. Pay-out Method: Customers opting for the cash pickup or mobile wallet pay-out option, will typically see funds arrive within minutes, albeit for a fee. Western Union Exchange Rate: How Much Does a Western Union Money - Wise These are credit/debit card, online, or standard bank transfer. Key in the details for your recipient, including the choice of payment then confirm and send. How do I send money to Jamaica with the Western Union app? Two other competitive providers for sending money . Best alternatives, How to Receive Money on PayPal: How-to, Duration & Fees, Huntington Bank (previously TCF Bank) international wire transfer: full guide, ACH withdrawal: what it is and how it works, BECU international wire transfer: fees, rates and transfer time, Specific limits applied by agents or destination countries, How your recipient wants to collect the payment. The total amount received would be 258.54SGD for a cash pickup paid for by debit card or bank transfer. MoneyGram has a slightly higher rating at 4.1 stars, although its worth noting that under 4,000 customer reviews have been aggregated for MoneyGram at the time of research.. By joining, you authorize us to send an automated text message to your mobile number with program materials and request consent to send future promotional texts. This might be based on the market size, local regulations, and properties for different money transfer services. Also, they match the mid-market rate and have a simple user interface, which is perfect for new users. Payment by bank account to the recipients bank account, transfer the funds to your recipients bank account. You can also transfer money to loved ones in Jamaica in person all you need is your receivers account number and type, national ID, address, state, city and mobile number. Once the transaction has been completed, youll receive an SMS containing an MTCN number, which you can use to track the funds. SO IN OTHER WORDS, BESIDES THE FEE IM PAYING TO WESTERN UNION, I WOULD ALSO HAVE SOME FEES FROM MY BANK, NO? Finder is a registered trademark of Hive Empire Pty Ltd, and is used under license by Other companies with excellent safety standards include Currencies Direct, VertoFX, and Instarem. For example, Western Union actually has a higher proportion of customers citing an Excellent service, compared with MoneyGram (64% v 56%). Sending a transfer is simple: If you prefer to send your money transfer in person, then complete the following steps: Western Union has the option to send money by phone.
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