Western Union

The Western Union Company is a financial services company that helps people send money around the world. The company dominated the telegraph industry in the late 19th century but has switched over to person-to-person money transfer, money orders, business payments services, bill pay, and enabling purchase of gift cards.

How Western Union Works:
A sender of money locates an agent of Western Union and pays that agent the money they want to send to the recipient . The agent will also bill an addition fee to handle the transfer of the original money. There are two main options that the sender can select, "Next Day" or "Money in Minutes". The money in minutes costs extra and the next day service is more economically priced. Once the sender has provided the agent money, receipent's name, and a designated distribution location the money is ready for pick up at the recipient's location. The original agent will give the sender a 10-digit secret code called the Money Transfer Control Number (MTCN) that must be given to the recipient before he can claim his/her money. The sender is reponsible for giving this secret pickup password to the recipient. If the recipient can't provide the MTCN they will not be able to pick up the money.

Online sending verse an agent location
A sender can choose to send money online at WesternUnion.com or at an agent location. The differences are major because the real world location may cost more but will be easier for most senders. Only a real world offline location can accept cash, so most people will find an agent and send money using an agent. If the sender has a bank account then the best option will be to use the online form. Not only is the online version cheaper then the offline version but it can be faster because it can be done with out driving to an agent.