150 Years of experience in transactional management ensures efficient and
secure online fund transfers. This US based organisation was initially
established in 1851 to link America with Russia through the first ever
trans-continental telegraph line.
Western Union became a pioneer in developing and servicing an ongoing demand
for innovation in technology and inter-connectivity. They ventured into the
worldwide money transfer arena during the 1980's due to declining profits in
their communications interests, where they were forced to divest their assets
and send money abroad under deregulation laws. They soon recognised that money
transfers were the quickest manner in which funds could be sent across the
world.
Today, Western Union offers direct money transfers to 350 000 agent locations
across the globe and spanning over 200 countries. Their transfer portfolio
comprises two basic options, each designed for consumer convenience. The first
transfer facility involves a cash deposit at any of the agent locations
worldwide, following which, the money is transferred directly to the Western
Union affiliated merchant. This option is advantageous to consumers who are not
in possession of a bank account. The alternative option is to utilise the
MasterCard or Visa transactional facilities at an online Western Union
affiliated merchant, or to contact a Western Union customer service agent
telephonically with one's credit card details. This process is considerably more
efficient and less time consuming.
Western Union also offer a value-added service for consumers in the form of a
pre-paid card facility, enabling their clients to transfer funds to their card
for use wherever MasterCard is accepted. This service is particularly valuable
for consumers who are weary of online fraud and identity theft scams, and for
those who would normally not obtain credit from a banking institution. The
Western Union card, a membership/transaction card, is available for clients
using Western Union transfer services on a regular basis. The card reduces time
consumed when transferring funds through an agent, but also provides users with
reward points that can be converted to phone time, discounts and gift vouchers.
Money Transfers via Western Union are almost immediate and online vendors are
able to credit a gaming account or confirm point of sale purchases within
minutes. Transfer costs are in the region of 10%, but whilst a bank transfer is
probably more inexpensive, Western Union is certainly faster! Insofar as safety
is concerned, Western Union has minimised fraud risk through the development of
various safety mechanisms including a series of identification checks and a
process whereby all transfers are referenced and issued with a control number
to ensure funds are sent to the intended receiver.
