Best Brokers that Accept Western Union in the UK

Compare Best Brokers that Accept Western Union in the UK

We are professional traders and researchers in the financial landscape. We do not just pick and recommend brokers but test and analyse their offerings first. Although the procedures involved are lengthy and overwhelming, the struggle is worth it. Our readers are able to find the best options that maximise their experience and potential.

Below, we show our comparison table highlighting some of the features we considered during our research process. Feel free to analyse the table and select the best Western Union broker that suits your trading requirements.

Brief Overview of Our Recommended Western Union Brokers’ Fees and Assets

Succeeding in online trading and investment is not a walk in the park. You must be strategic and have a solid plan to maximise your potential. It all starts with selecting the best Western Union broker. Based on our market analysis, most successful traders and investors prioritise their needs when making selections. The majority choose those they can afford and feature their preferred trading securities.

If you are a beginner, we are here to give you the best headstart. If you have chosen a Western Union broker from our recommendations list, you do not need to conduct extensive research. We did all the work and share below tables highlighting the fees and assets offered by our recommended Western Union brokers in the UK.

Fees

Assets

What is Western Union?

Founded in 1851, Western Union is an American-based multinational financial services corporation. Initially known as the New York and Mississippi Valley Printing Telegraph Company, it started as a telegraphic company. It was the first in the communication industry, but two decades later, Western Union launched its first electronic money transfer service. Since then, the company has grown and maintained its service to electronic money transfers.

Western Union offers payment solutions to clients in over 200 global countries, including the UK. It allows you to send and receive funds anywhere, 24/7. Western Union went public in 2006, and its shares are listed on the NYSE. The company is also a component of the S&P 400 index.

Overall, Western Union is reliable and secure when it comes to money transfer services. It is headquartered in Colorado, United States, and Devin McGranahan is its current president. The firm also provides services for businesses and students, such as GlobalPay and QuickPay.

How does Western Union Work?

Western Union offers convenient ways to send and receive money globally. You can transact using your desktop or mobile device, depending on what’s more convenient for you. Users must first register for an account at the provider’s official website and then log in to transact.

You can use various services to transact when sending money online via Western Union. For instance, you can use your credit/debit card to send money to another bank account, an agent location, or even a mobile phone. Western Union will then send an email confirmation and tracking number. This way, you can monitor transactions and ensure they are delivered to the correct address.

Sending money is also possible via mobile devices. You simply have to call Western Union representatives within your region for guidance. You will also need credit or debit cards to complete the transactions. And if you are among users who prefer the old-fashioned style, feel free to walk into one of our local agents for assistance.

To receive money sent via Western Union, ask the sender the delivery mode used. For cash transactions, you must visit your local agent with your government-issued ID and tracking number (MTCN or Money Transfer Control Number)) from the sender. However, if loaded via prepaid card, log in to your Western Union account to see the amount sent.

Note that the sender incurs transaction charges for Western Union transfers. The bank then sends a message to the receiver’s bank via SWIFT or another secure network with payment instructions.

How to Choose the Best Broker that Accepts Western Union in the UK

Choosing the best Western Union broker requires a diligent approach. You must be willing to conduct extensive research considering various elements for a suitable choice. With the best broker, you are guaranteed maximum safety and a conducive environment that will maximise your experience and increase your chances of success.

That being said, here are some of the key elements that define the best broker that accepts Western Union in the UK.

How Long Does Western Union Take?

Western Union domestic money transfers are completed within 24 hours, while international transfers may take up to five days. The timeframe for transaction completion varies with various factors, including:

• Timing – The timeframe for the money transfer depends on the day and time of day the transaction was initiated. For instance, transactions sent during the weekend will take longer and be completed on the bank’s next business day.
• Location – The speed of transactions also depends on where you are receiving or sending money from. For instance, some domestic transfers are instant, especially when transferring funds with accounts in the same financial institution. International transfer completion also depends on exchange rates and time zones.
• Incomplete Information – Transactions may be delayed if a recipient fails to provide all the personal information needed for the transfer. Your transfer may even be cancelled.
• A financial institution’s mode of money transfer – There are various ways financial institutions send money. These include Fedwire, the Society for Worldwide Interbank Financial Telecommunication (SWIFT), and the Clearing House Interbank Payments System (CHIPS). Depending on the mode used, administrative processes, and cut-off times, transaction time frames can be affected.

Pros & Cons of Trading with Western Union Broker

Trading with the best Western Union broker will maximise your experience and profit potential. While such brokers offer numerous benefits, they also come with a few pitfalls, which we share below to help you make informed decisions.

Pros

• Since Western Union serves clients worldwide, brokers supporting this payment method allow you to participate in international trading and money transfers.
• Domestic Western Union transactions are fast, thus making it easier for you to manage multiple and short-term trades.
• The payment method has been around for decades, making it safe and trustworthy.
• Western Union brokers offer flexibility. You can transact anywhere, anytime, using your desktop or mobile device.
• The best Western Union brokers have a reliable and professional support service team. You are guaranteed seamless transactions and trading activities.
• Western Union often offers vouchers and promotions to its clients. Taking advantage of such deals can help traders save money and enjoy transactions.

Cons

• Western Union transactions attract high fees and currency conversion charges compared to other payment methods, such as credit/debit cards and e-wallets.
• Not all brokers accept Western Union transactions, thus limiting traders’ choices.
• International money transfers can take longer than other payment methods, such as bank transfers and credit/debit cards.

FAQs

Conclusion

Western Union is a reputable brand, and given its reputation, it continues to become one of the best payment methods used by UK traders. If you want to trade with brokers that accept Western Union in the UK, feel free to choose from our recommendations above. They have plenty of trading assets and tools to maximise your potential. However, note that having the best broker doesn’t guarantee success. You must go out of your way to conduct extensive research for solid strategies. If you are a beginner, take advantage of brokers’ learning resources and a demo account before risking your hard-earned money.