Western Union Business Solutions review August 2018 | finder.com

Review: Western Union Business Solutions – August 2018

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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.

Product NameWestern Union Business Solutions
Min. Transfer AmountUSD 0
Max. Transfer AmountNo limit
Transfer Methods
Online, Phone
Transfer Options
Regular payments, One off payments, Market orders, Forward contracts, ...
Transfer Speed
Minimum transfer time
3 - 5 days
Banking PartnerWestern Union (US)
Customer Service
Phone, Email
Available CurrenciesAED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUC, 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, LTL, LVL, 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, SVC, 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, ZWD
Exchange Rate UpdatesReal 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.

Calculate your fees and exchange rate

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Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days - - Your connection to global business, growth and profit. Show details

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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 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.

Frequently asked questions about Western Union Business Services

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4 Responses

  1. Default Gravatar
    EfeMarch 21, 2018

    How long will it take money to get to Nigeria bank account

    • finder Customer Care
      joelmarceloMarch 22, 2018Staff

      Hi Efe,

      Thanks for leaving a question on finder.

      Transfers to your bank account can take one to three days to arrive.

      Cheers,
      Joel

  2. Default Gravatar
    MantimeSeptember 13, 2017

    I want clarity. The beneficiary address is Victoria, British Columbia. What is the country, is it Columbia? Is the money being received by the bank address in New York?

    • Default Gravatar
      JonathanSeptember 13, 2017

      Hello Mantime,

      Thank you for your inquiry.

      British Columbia is a province in Canada. If it was sent there, it is likely that the clearing bank will be also in Canada.

      You may contact them directly by clicking “To get started with Western Union Business Solutions, visit its website” link above to be redirected to their page.

      Hope this helps.

      Cheers,
      Jonathan

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