Western Union exchange rates<\/h3>
You don\u2019t get the mid-market rate when you send a money transfer with Western Union. This is because Western Union makes money from currency exchange, so it adds a margin on top of the mid-market rate when converting your CAD to another currency.<\/p>
The size of the markup varies depending on the currency you\u2019re sending to. As you can see in the table below, we found the markup to range anywhere from 0.8% to 4.20% across different currencies.<\/p>
It\u2019s also worth noting that Western Union offers promotional exchange rates on some popular currencies (such as INR and PHP) on your first transfer. These rates can be attractive if you\u2019re sending a one-off transfer, but keep in mind that you\u2019ll be hit with a higher markup on subsequent transfers.<\/p>
Log in to your Western Union account to see how the rate offered for your transfer compares to the mid-market rate.<\/p>
Sample Western Union exchange rates<\/h4>
| Sending money to<\/th> | Mid-market exchange rate<\/th> | Western Union exchange rate<\/th> | Estimated exchange rate markup<\/th><\/tr><\/thead> | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States<\/td> | 1 CAD = 0.7289 USD<\/td> | 1 CAD = 0.7095 USD<\/td> | 2.66%<\/td><\/tr> | ||||||||||||||||||||||||||||||||
| Europe<\/td> | 1 CAD = 0.6800 EUR<\/td> | 1 CAD = 0.6648 EUR<\/td> | 2.24%<\/td><\/tr> | ||||||||||||||||||||||||||||||||
| India<\/td> | 1 CAD = 60.8138 INR<\/td> | 1 CAD = 60.3246 INR<\/td> | 0.80%<\/td><\/tr> | ||||||||||||||||||||||||||||||||
| Philippines<\/td> | 1 CAD = 41.9950 PHP<\/td> | 1 CAD = 41.5363 PHP<\/td> | 1.09%<\/td><\/tr> | ||||||||||||||||||||||||||||||||
| Mexico<\/td> | 1 CAD = 12.3514 MXN<\/td> | 1 CAD = 11.8324 MXN<\/td> | 4.20%<\/td><\/tr> | ||||||||||||||||||||||||||||||||
| Japan<\/td> | 1 CAD = 113.6363 JPY<\/td> | 1 CAD = 110.0091 JPY<\/td> | 3.19%<\/td><\/tr><\/tbody><\/table> \u00a0<\/p> How we calculated the Western Union exchange rate markup<\/h4>We calculated the rate markup by checking the exchange rate quoted by Western Union for sending $500 to each destination. Where the rate varied depending on the transfer type, we chose the transfer type that offered the higher rate. We then compared Western Union\u2019s rate to the mid-market rate (taken from Xe).<\/p> The percentages quoted are estimates. The exchange rate you receive for your transfer will vary depending on factors such as where and when you send money. Use the Western Union app or website to calculate how much your transfer will cost.<\/p> Western Union transfer fees<\/h3>The other cost you need to consider when sending money with Western Union is the transfer fee. The fee varies based on factors such as where you send money, the transfer type and your payment method. You\u2019ll need to log in to your account and enter your specific transaction details to check what fee you\u2019ll be charged.<\/p> To give you an example of how fees can change, we asked the question, how much does Western Union charge to send $1,000 to India?<\/p> IndiaCredit cardCash pickup$29.50<\/p>
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