Western Union Business Solutions Review

Western Union Business Solutions is the division of Western Union that provides money transfer services and payment solutions to high-end individuals and business clients who require international payment solutions. Western Union Business Solutions has a network covering more than 200 countries and territories, and has access to over 130 currencies to meet their clients’ foreign currency exchange needs.


Fee: ? No Fees via FXcompared
Bank Partner: ? RBS
Speed: ? 1-3 days
Country Notes Access to over 130 currencies, and a global financial network spanning more than 200 countries
Local settlement: ? UK
Transfer methods ? Phone and online transfer services
Regulated By: ? FCA
General Notes Part of Western Union, the oldest and largest money transfer provider

The pros and cons of using Western Union Business Solutions

pros

One of the largest payments companies

Very wide range of currencies and products

Dedicated personal accounts team

EDGE platform one of the most sophisticated in the sector

Full corporate offering

cons

Different offering to Western Union's main brand

Not the same mobile app options

Not suitable for small transactions

Western Union Business Solutions

Western Union Business Solutions Products for Businesses

western union business solutionsWestern Union Business Solutions offers their clients the ability to send money and make payments, receive payments, as well as providing tailored risk management solutions. Businesses can choose to use Western Union’s online system or to talk with a representative by phone to set up their business’s outgoing payment needs, or to discuss options for receiving foreign payments and converting foreign funds.

The Western Union Business Solutions outgoing overseas payment services can help businesses streamline their outgoing payment processes, and help to reduce forex market risk. They offer these services in over 200 countries, utilizing more than 130 currencies. Western Union will assign a dedicated foreign exchange specialist who will analyze the customer’s industry and business requirements, and help to minimize foreign exchange risk and rate fluctuations by recommending a tailored solution.

Western Union offers two methods for incoming payments solutions to help companies manage their accounts receivables processing: incoming Electronic Funds Transfers (EFTs) and Check Conversion services. EFTs are offered through Western Union Business Solutions GlobalPay platform, or through the company’s correspondent bank account. EFTs allow the company to maintain control over the rate at which the funds are converted. This rate can be locked in before the funds arrive, or once funds have been received into the account and confirmed. EFTs are easy to set up and fully supported by Western Union’s systems.

Foreign currency checks can also easily be converted through Western Union Business Solutions’ Incoming Foreign Currency Draft service. These check services are provided for more than 130 currencies.

Western Union Business Solutions provides a suite of risk management tools to help its corporate customers manage their foreign exchange risk. A foreign exchange specialist can help build a risk management plan to minimize a company’s foreign exchange risk by using tools including forward contracts, stop-loss orders, currency options, exchange rate bids, exchange rate monitoring services, and enhanced risk monitoring and compliance.

Western Union Business Solutions also offers specialized foreign exchange solutions for specific industries. Customized plans for international business risk management and payments needs are created for a variety of industries by foreign exchange specialists with expertise in that specific area. Industries covered include law firms, financial institutions, NGOs, educational institutions, and travel firms.

About Western Union Business Solutions

Western Union, the parent company of Western Union Business Solutions, was founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company. Western Union Business Solutions provides a variety of financial services to its corporate and business customers, including money transfer payments, incoming payments processing, and foreign exchange risk management solutions.

Western Union Business Solutions has a network covering more than 200 countries and territories, and has access to over 130 currencies to meet company’s foreign currency exchange needs. Western Union’s global network and industry expertise can help businesses manage the fluctuations in the foreign exchange markets, and to streamline their international currency business processes.

Amount Received £ 10,000.00
£ 0.00 Avg. Saving vs. Banks ?
EURn/a
USDn/a
CADn/a
AUDn/a

Compare Other Currency Rates

Need payment solutions for your business?
Click here to use our business tool

Other International Money Transfer Quotes

Global Reach (formerly FC Exchange)

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

Amount Received
USD $12,793.70
GBP £199.73
saved vs. banks

OFX (UK)

?
Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

More InfoLess Info

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

Amount Received
USD $12,770.46
GBP £181.73
saved vs. banks

Moneycorp

?
Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

More InfoLess Info

One-off payments | Regular payments | Great rates | Safeguarded customer funds

Amount Received
USD $12,780.79
GBP £189.73
saved vs. banks
Bank Beating Rates

TorFX

?
Est. 2004

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More InfoLess Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,845.34
GBP £239.73
saved vs. banks
Bank Beating Rates

Currencies Direct

Call us0203 018 1318

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More InfoLess Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,767.88
GBP £179.73
saved vs. banks

WorldFirst

?
Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More InfoLess Info

Transparency and security | Great customer feedback rating from Feefo

Amount Received
USD $12,845.34
GBP £239.73
saved vs. banks

RationalFX

?
Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
Amount Received
USD $12,800.15
GBP £204.73
saved vs. banks

Currency Solutions

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

More InfoLess Info

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

Amount Received
USD $12,805.32
GBP £208.73
saved vs. banks

Smart Currency Exchange

Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
Amount Received
USD $12,800.15
GBP £204.73
saved vs. banks

Rates From The Average UK High Street Bank

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

Amount Received
USD $12,484.90
No saving vs. banks

PayPal

?
Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

More InfoLess Info

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

Amount Received
USD $12,458.04
No saving vs. banks

Other Services

Popular Money Transfer Routes

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.