How does Western Union work?
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Q:

How does Western Union work?

A:

Quick Answer

Western Union operates as a conduit that allows people to send and receive funds by way of phone, Internet or a local Western Union center, according to its official website. Users can also attain Western Union prepaid cards, and they have the option of using the money-transfer center to pay bills.

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Full Answer

The official website further mentions how the process works when it comes to sending money from one of its service centers. After a sender hands over the necessary money and fills out the paperwork, funds are available within a few minutes to the person receiving the cash. Recipients can pick up the money at a Western Union center, or they can wait to see if the funds are available in their bank account, depending on how the money was sent. Western Union also highlights its convenient bill-payment system, allowing users to set up a plan that issues funds to a receiving company. One way to do so is through a system that sets up emergency or scheduled payments.

Western Union also notes that the transfer agency provides convenient payment systems for companies that conduct business internationally. Western Union's foreign exchange business solutions allow companies to make international payments and receive funds from abroad. Its banking center also offers a prepaid system where employees deposit funds from an employer and replenish money online. Prepaid cards are valid at ATMs, and these cards can be used for debit card transactions. Western Union also offers prepaid wireless and phone cards.

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Related Questions

  • Q:

    How do you send money online via Western Union?

    A:

    To send money online via Western Union, log into or create a profile, click on the Money in Minutes link, enter the receiver’s information, and fund the transfer with a credit or debit card. A confirmation email with a money tracking number is delivered by email, notes Western Union.

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  • Q:

    What are Western Union locations?

    A:

    A Western Union location or a Western Union Agent location is a place were people can send and receive cash. These locations can be found at grocery stores, supermarkets, check cashiers, mailbox centers, convenience stores, drug stores, depots and travel agencies, according Western Union. Check the Western Union website to find the most relevant agent locations in a desired area.

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  • Q:

    How can you send a MoneyGram by phone?

    A:

    As of April 2015, MoneyGram does not provide its customers with an option to send money over the phone, according to the company's official website. Customers can send money either online at MoneyGram's website or in person at a nearby MoneyGram location.

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  • Q:

    Does Western Union have tracking numbers?

    A:

    Western Union has special tracking codes that it calls Money Transfer Control Numbers, or MTCN, which are essentially tracking numbers. Whenever a person uses the company for a money transfer service, it gives the sender this particular 10-digit code to keep as a reference.

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