PayPal was a preferred agent for sending and receiving money in India, however off late with PayPal and RBI guidelines, the user base is switching from the PayPal in India to Western Union which is regarded as a trusted method of money transfer having over 350,000 agent locations. Paypal Auto Debit is another pain for funds transfer in India courtesy RBI guidelines and thus Western Union is gaining the market of Paypal atleast in India.
Most of the times seems to discover a Western Union branch close to the person to whom you happen to be sending money. In case you have never used Western Union before, you can Google the information to get to know about the best way to send Money using Western Union to acquire more information.
Nevertheless the biggest drawback to Western Union is its fees. For instance, Western Union charges about $12 fee for sending $500 from USA to India or as a matter of fact to Philippines. Even for sending money within United states of America, Western Union charges around $12 for transferring an amount as much as $200 ! These charges are ridiculously high.
Advantages of Western Union
- The foreign Exchange Rates made available by Western Union are, however, in a way advantageous.
- Agents are available right under your nose i.e. ease of physical debit and credit.
- Can be used even by non computer literate population.
The precise quantity of fees charged by Western Union is dependent upon the specific locations and also to understand precisely how much fees you most likely will be charged, and likewise about Western Union Rates (exchange rates) click on Western Union Fees and Exchange Rates Calculator. If the link doesn't work then go straight into Western Union homepage and click on on Price Service (a control button at the top right column). Don't forget to select your correct country first.
Thus we can call Western Union as a trusted way to send money where beneficiary collects cash from a Western Union location, however it comes at a phenomenally high cost.
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