Amongst the positive reviews, MoneyGram is praised for its: However, this money transfer giant does have its fair share of negative reviews, too. As another example, sending $500 to Australia would have a fee of $4.99 for a cash pickup paid for by an online bank account, while paying with your credit or debit card would incur a fee of $9.99. While MoneyGram has more favourable fees when we look specifically at credit card payments, between Western Union vs MoneyGram, the two operators fee structure balances out when we look at the overall picture. Use Western Unions price estimator tool to see what exchange rate you would be offered on your transfer. The app is available on both iOS and Android to make international transfers more convenient for users. However, to access live transaction fees you will need to log on to www.westernunion.co.uk and register online. We want you to be able to send and receive money with ease. Its no surprise that there are many users with great experiences and many with poor experiences given that Western Union caters to hundreds of millions of customers. The costs and even the exchange rates will vary according to various factors, including: Typically, it is more expensive to make a payment using a credit card, with debit card payments slightly cheaper, and wire transfers the most cost effective option. Most of the comments centred on the following: As money transfers can often be unnecessarily complicated, we want to help our users by providing a simple step-by-step guide to sending and receiving money using Western Union. We have a helpful price estimator to help you get a clear idea of our fees4, exchange rates and transfer limits check it out to discover how much it might cost to send money to Jamaica. Much like the payout options, payment methods differ per sending country. Rest assured, these partnerships will not affect your fees when using a money transfer provider, and we guarantee all affiliate providers are trusted and regulated. Receive funds directly into your bank account with banks such as NCB, JN, FGB, BNS, CIBC, Sagicor, VMBS and JMMB, by: 1. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Try again later. Someone sent me money, and when I tracked it, the status is on hold. MoneyGram allows you to pay for online transfers using a bank account (US only) or with a credit or debit card. For example, Wise matches the mid-market rate for most transactions. One of the best ways to make sure youre getting the best deal regarding both of these factors is to compare providers. The transfer time would be within minutes if paying by card, or between 0 4 working days when paying by bank transfer. inf:ad. If youre expecting to receive funds directly into your account, it couldnt be more straightforward. Founded in 2019, MoneyTransfers.com is designed to transform the way consumers discover the best deals when sending money across the world. Total received would be 1335.05 SGD. Visit GraceKennedy Money Services at any of our over 200 locations islandwide to collect your Western Union money transfer. Sending this sum would have the same exchange rate as listed above, but the fees change slightly. The best rate to send Jamaican Dollar from US Dollar to your loved ones in Jamaica is currently offered by Paysend; their 1 USD to JMD exchange rate today is 149.9157. After we receive a transaction that is destined for your bank account, you have 7 days to complete your registration. Negative reviews report slow transfer times, expensive exchange rates, and trouble contacting customer service when things went wrong with users transfers. Western Union makes money by adding a margin to the exchange rate in addition to any fees charged. Which brand offers better exchange rates? This will save you money by getting FX rates that match your requirements. Senders may transfer funds to their receivers account in Jamaica. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. As one of the largest money transfer companies in the world, MoneyGram is subjected to a number of regulations to ensure it is capable of keeping your money secure. There are currently no charges to receive this type of transaction in your account. 3 Funds may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination country, currency availability, regulatory issues, identification requirements, agent location hours, differences in time zones, or selection of delayed options. However, both companies are not the best choice for business transfer because of the poor FX rates and lack of advanced features. Through the app, you can do a number of things such as: Sending cash to 200+ countries and territories. To take a more detailed look at both MoneyGram and Western Union, read on. * Note: Fees are accurate at the time of writing. Most customers seek out the services of Western Union due to their cash pay-out option which is available to customers worldwide, with collection points at over 500,000 branches in 200 locations around the globe. However, this then changes in Western Unions favour for a large fee of $1,000, while MoneyGram is unable to actually support a transfer over $10,000 at all, making Western Union the obvious choice out of the two. In most cases, transfers between 2 Wise users are processed within just a few seconds. Sending the same amount from your credit card as a cash pickup will cost you $20.50. Typical scams through Western Union include: To combat these types of scams, Western Union provides clear warnings on their website before a user sends a money transfer. Sending a transfer is simple: If you prefer to send your money transfer in person, then complete the following steps: Western Union has the option to send money by phone. Usend combines money transfers, bill pay and mobile phone reloading. Then, use the interbank rate as a benchmark for comparing the rates of other money transfer providers. Explore our options for receiving money with Western Union. Being extra cautious by only sending or receiving money from people you know is a necessary extra step for your safety. Between 2004 and 2010, Western Union was accused of allowing fraudulent transactions and received more than 550,000 complaints about fraud. Visit your chosen Western Union agent with your MTCN number and a valid form of ID. You can share this number with your receiver to track the funds. Talk with a financial professional if you're not sure. The simple way to find out is to model your payment online with a few providers to see which works out cheapest. Founded in the United States over 170 years ago, this company has grown into a global operation that supports international remittances from all four corners of the world. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Paysend offers transfers to more than 70 countries through its app and online service. We believe transferring money between countries should be a painless experience for everyone involved. Western Union Business Solutions (WUBS) is a business unit of the Western Union group of companies and operates through local affiliates in a number of countries around the world. Make international business payments, anywhere, anytime. An easy route would be to choose a service that covers most of the globe. Youve moved abroad and need to change your Amazon country? Western Union uses policies and procedures like photo identification and tracking number (MTNC) verification to help make sure your money is sent to the right person. with your MTCN to have the funds sent to your bank account. Customers can call the Telephone Money Transfer hotline at 800-CALL-CASH, if they are sending money from the US to a recipient in the US. In terms of support, the only contact option on the website is to fill out a contact form or to use the services help centre. 0.00. Follow your transfers with the app or online and see them arrive in Jamaica. The maximum you can send in one day is $5,000 which would cost you $243 with a credit card and $50 via bank transfer. Ukraine war latest: Boy, 6, cries as sister killed in Russian attack Send and receive money locally and internationally. Lets look at an example - imagine you want to send USD1,000 to a friend in Mexico. Western Union also has a large and loyal customer base, with a number of different payment and payout options including bank deposits and cash pickups. We take great pride in making our services accessible from anywhere, at any time, with your needs in mind. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Having said that, Western Union will almost always be a cheaper option than your bank, especially when sending one-off transfers or to remote destinations. This will include a government-issued ID, your payment method and your recipients details. The Western Union brand is perhaps one of the most well-known in the money transfer industry. Make a money transfer to Jamaica and track it in real time. In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. Comparing Western Union vs MoneyGram, both transfer providers are well-known for providing fast international transfers around the globe within minutes, although organising your transfer to be paid for via a bank account will delay your transfer by several working days. This is in addition to an AML (Anti-Money Laundering) Compliance program and a robust Internal Audit Committee whose operations are in compliance with the Bank Secrecy Act. The provider has a limit of $10,000 USD for online transactions within a 30 day period, so you would not be able to send this amount using the website or app. Your chosen payment method can also come with extra costs. Its worth noting, though, that money transfers for cash collection are commonly used by fraudsters and scammers looking to take advantage of vulnerable customers. GraceKennedy Money Services and the logo are registered trademarks of GraceKennedy Limited. However, you may be able to send more than this using an agent, as long as there arent limits imposed by the country youre sending to. Finder.com is an independent comparison platform and For Western Union, the specific transfer fees for a money transaction are indicated in the Send Money Online field on their website. Western Union is headquartered in Denver, Colorado, and has been in business since 1851. You can compare the displayed rate on Western Union with the current mid-market rate to work out the size of the margin they charge. One of the best ways to make sure youre getting the best deal regarding both of these factors is to compare providers.In this comparison, well be taking a side-by-side look at two money transfer giants, Western Union vs MoneyGram, to help you decide which one is most suited to your transfer needs. to complete the process. Optional, only if you want us to follow up with you. Check our comparison table above to find a price for your money transfer. Fiji. Receive a Money Transfer Directly to your Bank Account. There are so many options, and the features and fees vary for each service. Its online, phone and in-store options include: Send your transfer a few different ways, which will determine how quickly your transfer is sent and how much it will cost. With that said, however, their fee structure and exchange rate margins remain largely behind when compared with newer, digitally-led money transfer providers. However, due to their solid reputation, many customers are happy to pay for these fees, comforted by the familiarity of the Western Union brand. The licencing and regulations comprise restrictions and requirements that Western Union must abide by. Western Union has a gigantic global network of agent locations and bank connections that makes it easy to send money to almost anywhere. Please be aware that we generate revenue through partnerships with selected money transfer providers listed on our site. If you wish to cancel your money transfer, you will need to log into your account. Find out statistics, data and history from one of the worlds oldest financial companies. As previously mentioned, transfer speed differs according to country. In addition, MoneyGram and Western Union are subject to a lot of regulations across the world. Service providers like Western Union make a profit from foreign exchange spread, transfer fees and any other charges paid by the customer. MoneyGram supports international transfers to over 200 countries around the globe, with over 70 of those countries now digitally enabled for more convenient transfer options. Well send you a confirmation email with a tracking number (MTCN). The amount of money refunded will depend on the service chosen and the reason for cancellation. Enter Jamaica as the destination and choose the amount youd like to send. MoneyGram vs Western Union: What are the differences? - Wise In the United Kingdom and EEA area, Western Union, operating as Western Union Business Solutions (UK) Limited, is regulated by the Financial Conduct Authority (FCA). Users on review sites and social media have been vocal about their experiences with Western Union. ** Promotion: Fee free promotions are valid up until the 31 st August 2012.