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Questions you may have after your trade has been booked.
There were 20 questions found in this category:
  1. questionHow do I find out my rate?
    Once you have an account with Western Union, from the home page type in the currencies and amount of your choice and click on the "quote" button. Your rate will be displayed and refreshed every 40 seconds.

  2. questionDo I need to open any new bank accounts?
    No. Your Western Union account operates with your existing bank account. However, please note that when sending funds to a bank account, that account must be denominated in the same currency as the funds being sent, otherwise the bank may re-convert the funds at an expense to you. For example, ...

  3. questionDoes the recipient that I am sending funds to need an account with Western Union?
    No. Only you (the sender) need to have an account set up with us.

  4. questionHow can I pay for my trade?
    You may choose to send in your payments via the following methods: Wire Transfer Wire Transfers are the quickest way to send funds. To use this option, you’d have to initiate a Wire Transfer through your bank. The funds must be sent via an account held by you. Wire Instructions will be ...

  5. questionHow can I send funds to my beneficiary?
    Option: Delivery by Wire Transfer Wire Transfers are the quickest way to receive funds and are available in most places in the world. Choosing this delivery option directs us to send a Wire Transfer for the funds to a specified bank account. This account can be your own, or can belong to the re ...

  6. questionHow long does it take to process a transaction?
    Depending on how you choose to have your funds converted, processing times may vary. The following table highlights the different timelines for the various alternatives. Payment Method How you send us the funds to be converted Delivery Method How the converted funds are delivered by us Total ...

  7. questionHow can I find out the status of my transaction?
    Easy! First, we notify you by e-mail to confirm your transaction. Secondly, you can always track the status of your transaction through your online account. Finally, we send you an e-mail when your transaction is complete.

  8. questionWhat does my "Transaction Limit" mean?
    Transaction Limit is the maximum value of outstanding transactions you can have at any given time for which we have not yet received payment. Available to Trade is how much of your transaction limit you have available for trades. ***Please be advised that due to reduced trading in the currency ...

  9. questionI have a daily transfer limit; can I send you the funds in multiple transfers?
    Yes. You may send multiple transfers to pay for a single transaction. To prevent any delay in completing your trade, be sure to include your deal ID number and name as a reference on each payment.

  10. questionCan I have a draft made out to a 3rd party but mailed to me? If so how?
    Yes. After you have set up your draft recipient, please send us an email at requesting that the draft for this payee be sent to you. Be sure to confirm your home address and your payee’s name in the email.

  11. questionCan I cancel a trade?
    All trades are legally binding contracts once booked. If you have booked a trade in error, it is imperative that you let us know immediately. Because we secure the funds on the market at the point of booking, foreign exchange losses will often result from cancelling a trade. As a result, pena ...

  12. questionHow can I get my trade limit increased?
    Simply log in to your Western Union account and click the link that reads "Click here to request a change to your transaction limit". Once you have submitted the request form, you will receive a response from our representatives within 24 to 48 hrs.

  13. questionWhat is a Credit Inquiry?
    When lenders and other agencies ask a credit reporting agency for your credit report, it is recorded as an inquiry. Inquiries that are recorded on your credit report and count toward your credit score are sometimes called “hard hits” or “hard inquiries.” Anyone who views ...

  14. questionWhat is an IBAN number?
    IBAN, International Bank Account Number is an international standard used by some countries for identifying bank accounts. IBANs are predominantly used in the EU region. The IBAN consists of a 2-character country code, followed by two check digits, and up to thirty alphanumeric characters for t ...

  15. questionWhat is your Electronic Funds Transfer (EFT) bank account policy?
    For security reasons, we may be required to verify any EFT Bank Account (available on USD and CAD accounts in the US and Canada only) which you use for withdrawal. Verification, if required, will only be required once, regardless of how many bank accounts you add. Verification is subject to C ...

  16. questionWhen can I make a trade?
    You can make a trade 24 hours a day, 7 days a week. However, please be advised that due to reduced trading in the currency markets on weekends, there may be restrictions on trading limits from Friday at 9:00 pm GMT to Sunday at 10 pm GMT. If you receive an error message stating that you cannot ...

  17. questionWhen do I need to include an intermediary bank?
    An intermediary bank is required when sending a payment in a currency that is not the domestic currency for the destination country. For example a CAD payment to Barclay’s in the United Kingdom must be routed via a Canadian Bank. If you do not know your intermediary bank, we can locate t ...

  18. questionWhere can I find my SWIFT Code or Domestic Routing Code?
    When setting up a bank account on your profile, you will be required to enter a SWIFT Code or a Domestic Routing Code. SWIFT Code **If you have a Canadian or a US bank account, you do not need to enter a SWIFT code. A SWIFT Code is a unique identification code of a particular bank, used whe ...

  19. questionWhich currencies can I buy and sell?
    Currency Country AUD Australia Dollar CAD Canada Dollar CHF Switzerland Franc DKK Denmark Krone EUR *Euro Member Countries GBP United Kingdom Pounds Sterling HKD Hong Kong Dollar JPY Japan Yen MXN Mexico Peso NOK Norway Kroner NZD New Zealand Dollar SEK Sweden Kronor SGD Singapor ...

  20. questionWill this Inquiry affect my Credit Score?
    Credit Inquries can affect your credit score, although they may have no effect. A credit score is a three-digit number that is calculated using a mathematical formula based on the information in your credit report. Inquiries may or may not affect your score. For many people, one additional cr ...

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