Transferring money either locally or abroad is easier than ever, although the difference in costs between the best and the rest is substantial. The best way to avoid Western Union fees is to shop around and check out other transfer options with lower charges (and potentially better rates).
It’s also well worth considering our tips to improve the security of your currency transfers and make the process more streamlined.
Ways to Make your Western Union Transfers Cheaper
We appreciate that, if you’re familiar with a particular transfer service, you might be willing to overlook extra costs and charges.
So, if you’re happy to stay where you are, you might be wondering how can I avoid Western Union fees without needing to spend time comparing currency exchange rates?
Here’s how:
- Use a debit card. Transfers paid via credit card, whether booked online or over the phone, carry fees such as a cash advance charge, plus the interest if you don’t pay back the balance straight away. You’ll avoid those costs by using a debit card.
- Register with the My WU loyalty program. Each time you make an eligible transfer, you collect loyalty points and can use them for discounts on fees and various other promotions.
- Take advantage of coupons. Western Union often offers online coupons, which can save on transfer costs and even shave off a couple of cents on your exchange rate.
Those are a few ways to bring down your overall charges, but the best option is undoubtedly to compare rates with other providers, such as Cashero.
Remember that you’re not just paying transaction fees but also a commission on top of the exchange rate, so you’re in effect paying twice for every transfer. It’s useful to take a few minutes to see what prices other transfer services offer, as you can save a bundle over time.
There are lots of specialist international money transfer providers who offer incredibly competitive rates. You can also check them out on TrustPilot or other review portals to establish that they’re reputable and provide excellent customer service as well as fraud protection.
While we’re thinking about security, it’s also important to mention that some transfer services can be vulnerable to fraud. For example, if you’re paying for goods online, make sure the retailer is authentic and verified – particularly when paying upfront.
If you’re receiving a transfer or a cashier’s check, you should also be aware that these could bounce even several weeks later.
Should a transfer have been paid for with a stolen credit card, the funds can be reversed out of your account even though the original transaction has cleared.
For any Western Union transfers, we’d also advise keeping a note of your money transfer control number (MTCN), as you’ll need this if there are any issues. Trying to resolve a problem without an MTCN reference can incur even more charges!
How to Find the Best Money Transfer Services
If you’re considering a different option, there are different digital transfer services to choose from, but we think you should give us a try!
But beyond looking at fees and costs, there are other criteria to consider:
- Check what the transfer speed is – that might vary between an instant transfer, 24 hours, or up to a week, depending on the service you use. Cashero transfers happen instantly between Cashero users.
- Remember that every international money transfer has two elements – the transfer fees charged to manage the transaction for you, plus the exchange rates. You won’t be offered the ‘market’ exchange rates for this sort of transfer as the provider will always add a bit on top as they make a profit from currency rates as well as their charges – so compare the rates on offer before booking a transfer. With Cashero you can be sure that you’re getting some of the best rates out there.
- Look for transfer services you can manage on your phone, as these are usually the easiest to book and most straightforward to manage.
- Think about which country or state you’re transferring cash to, and make sure the service is accessible in that country if it’s an international destination.
If you think you might be paying over the odds for your money transfers, shopping around other services to compare exchange rates and fees can save a substantial amount of money!
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As of the date of publication, the information contained on this page is deemed to be factually accurate for all terms of conditions, features, and fees. Changes made to Cashero’s terms of conditions, features, or fees after the publication of this content may not be accounted for.
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