I have transferred money through Western Union before, so I can tell you about the Western Union money transfer charges in India. I want you to know that the fees depend on several factors, such as the bank itself, whether there is any fee from an intermediary bank, and whether the transfer is international or domestic. Read below to know what is the charge of Western Union money transfer.
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Some Common Types of Money Transfer Fees: How Much Western Union Charge to Send Money
Transfer feesEvery financial institution or bank will have its own fees for money transfers. Most banks separate fees into receiving fees and sending fees, and whether the transfer is international or domestic.
Intermediary bank feesSome money transfers may involve an intermediary (3
rd
party) bank that helps facilitate the money transfer between banks that do not have a financial relationship together. The 3
rd
party bank may charge a transfer fee besides the transfer fees from the receiving and sending banks.
Exchange rateWhile an exchange rate is not necessarily a fee, it’s a money transfer cost that you should know about. The exchange rate refers to the price of a currency of a country in relation to the currency of another country.
Please ensure to consider the exchange rate, so you know how much you have to send to your receiver to make sure they get the correct amount of money.
Additional feesYou may have to bear some additional charges associated with a money transfer, like correspondent bank fees, cancellation fees, online versus in-person transfers, etc. Before you initiate a money transfer, contact your bank to get a quote for how much it’ll cost or what charges you may incur.
Now you know what are the charges of Western Union money transfer.
Read more:
How Much Time it Takes to Transfer Money Western Union?
What is Western Union Money Transfer?
How to Receive Money from Western Union in India?
How to Enable International Transaction on SBI Credit Card?
This is all about the Western Union money transfer charges in India.
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Authors Of The Question
How much Western Union charge to send money?
Palak
322Views
2 Year
2022-09-19T11:21:11+00:00 2022-09-19T13:27:46+00:00Comment
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