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Review: Western Union Business Solutions
Last updated:
Managing cash flow and international payments around the world.
Western Union Business Solutions helps businesses of all sizes send and receive international payments 24/7. An arm of industry leader Western Union, WUBS enables businesses to make payments almost anywhere in the world and provides risk management services.
USD 0
Min. Transfer Amount
No limit
Max. Transfer Amount
3 - 5 days
Transfer Speed
Details
| Product Name | Western Union Business Solutions |
|---|---|
| Min. Transfer Amount | USD 0 |
| Max. Transfer Amount | No limit |
| Transfer Methods | Online, Phone |
| Transfer Options | Regular payments, One off payments, Market orders, Forward contracts |
| Transfer Speed Minimum transfer time | 3 - 5 days |
| Customer Service | Phone, Email |
| Available Currencies | AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUP, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GGP, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, IMP, INR, IQD, IRR, ISK, JEP, JMD, JOD, JPY, KES, KGS, KHR, KMF, KPW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SPL, SRD, STD, SYP, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TVD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XDR, XOF, XPF, YER, ZAR, ZMW |
| Exchange Rate Updates | Real time |
|---|
Get customized rates and advice for your business
Western Union Business Solutions helps your business get the best exchange rates by assigning a specialist who can research an individual plan for you in the following industries:
- Education
- Law
- NGO
- Health care
- Financial institutions
These plans get you the best rates and minimize the risk of rate fluctuations when making international payments quickly and easily.
Business solutions
Western Union offers multiple ways to make international payments and helps your business manage risk. Here are the highlights.
International payments
With Western Union Business Solutions, your business has options for making payments, including:
- Outgoing payments. Send global payments to almost anywhere in the country.
- Incoming payments. Get paid with Western Union’s accounts receivable.
- Mass payments. Send up to 10,000 payments at once.
- Online payments. Conveniently make payments from your computer or on your smartphone.
Risk management
In addition to international payments, Western Union will help your business manage risk by:
- Optimizing your cash flow.
- Reducing your exposure to currency fluctuations.
- Implementing a hedging strategy.
- Protecting your profits.
How much does WU Business Solutions cost?
Transaction and handling fees vary depending on where you’re sending money. Whenever possible, Western Union Business Solutions keeps money in its banking network to avoid fees.
In some cases, it transfers money through correspondent banks that could possibly charge fees.
What other services does Western Union Business Solutions offer?
In addition to international payments, WUBS customers can receive payments from customers and conduct business in their native language through a number of services that include:
- Cross-border business payments. Western Union helps small and medium-sized businesses manage their international transactions.
- WU Edge. Through this free international platform, you can find business partners, make global payments and manage your cash flow and international transfers.
- Online FX. This streamlined platform helps you send outgoing payments and transfers 24/7 from your computer or mobile phone.
Pros and cons of WU Business Solutions
Pros
- It’s secure. WUBS is backed by Western Union, an established company that’s been around for more than 150 years.
- Recurring payments. Western Union saves your billing information so that you can make automatic, recurring payments.
- Competitive exchange rates. And you can lock in those rates for future payments.
- Customized services. An exchange specialist evaluates your business to get the best rates for you.
- Customer service. Speak on the phone with a representative 24/7.
Cons
- Bank-to-bank transfers only. Unlike standard Western Union services, you can’t use cash or prepaid cards to fund a transfer.
- Funding fees. Wire transfers can cost as much as $22.
- Delayed delivery. Sending from a linked bank account can take up to 5 days for receipt.
- No domestic payments. You cannot send money to and from the same currency.
How does Western Union compare to other services?
How do I make international payments through WU Business Solutions?
To get started with Western Union Business Solutions, visit its website to set up a personal or business account. Be sure to have two forms of government-issued ID, like a driver’s license and a passport.
Each time you log in to your account, you’ll have access to your payment history. If you use WU Edge, you can even manage your funds through an easy-to-use dashboard.
Making payroll payments and sending money through Western Union Business Solutions is quick and easy.
- Log in or create a free account. To create an account, you will need two forms of ID.
- Provide your recipient’s details. Including bank account information.
- Initiate your payment. Select your currencies from drop-down menus and enter the amount of your payment.
- Provide your funds. Pay with a wire transfer, linked bank account or bill pay.
Bottom line
Western Union Business Solutions is a way for businesses of any size to streamline their international billing. Its customized service finds the best exchange rates and fees for your specific industry and business.
But depending on your needs, be sure to compare the fees, rates and delivery speeds offered by other money transfer specialists before you part with your money.
Looking for an alternative? Compare services like Western Union to get the best rates and fees.