Western Union
When you need to transfer money overseas, you now have many options to choose from. Western Union is perhaps the most well-known international money transfer service, but newer companies like Ria offer competitive rates to save you money.
 Western Union |  Ria | |
|---|---|---|
| Fees | Starts from $3.50 | Starts from $3 |
| Exchange rates | Adds 1% to 5% to the mid-market rate | Add 0.25% to 4% to the mid-market rate |
| Speed | Minutes up to 5 days | Minutes up to 5 days |
| Max Transfer Amount | $50,000 but this varies by country | $2,999 a day or $7,999 per month limit |
| Read review | Read review |
To transfer money online with Western Union, visit its site, enter the amount you’re transferring and to where, and confirm how much to pay for the exchange. Once complete, Western Union converts and delivers your money to a bank account or for cash pickup at locations worldwide.
To transfer money online with Ria, go to its site, enter the amount you’d like to transfer and to which country, and choose your payment and pay-out methods. On the same page, you’ll see the exchange rate and transfer fee for your particular exchange.
Western Union’s fees vary depending on how much you’re transferring, how you’re sending it and where you’re sending it to. Most transfer fees start at $5, but they can skyrocket to $45 or more if you’re paying by credit or debit card or for cash pickup in certain countries. However, some transfers to high-traffic countries such as Mexico or India offer no-fee transfer options.
Money transfer fees with Ria also vary by payment method, country and the amount you’re sending. The cheapest way to send money is by bank transfer, with a typical fee that’s lower than $5. However, fees for credit card payments can be as high as $45.
Depending on the country you’re sending money to, Western Union markup ranges from 1% to 5% above the mid-market rate. This means that If you’re sending a large amount overseas, hundreds of dollars go straight into Western Union’s pocket.
Ria takes a much smaller margin than Western Union and their markup typically adds to 1.5% to 2.5% to the mid-market rate.
Western Union’s delivery speeds vary, depending on your transfer options. At an agent location or by phone, your transfer could be delivered in minutes (at higher costs). Transfers from your bank account can take two to five business days
Ria’s transfer speed also depends on the method that you choose to send your money. When you use your credit or debit card, the exchange typically takes 15 minutes or less. Transfers from your bank account can three to five business days
| Payment Methods | Minimum and maximum transfers | Delivery methods | Transfer speeds | Countries and currencies | |
|---|---|---|---|---|---|
| Western Union | Bank account, credit or debit card, cash | $1 minimum; $50,000 maximum varies by method and payment | Bank transfer, cash pickup, e-wallet | Bank transfer takes 2 – 5 business days | 200+ countries |
| Ria | Bank account, credit or debit card, cash | $1 minimum; $2,999 a day or $7,999 a month maximum | Bank transfer, cash pickup | Bank transfer takes 3 – 5 business days. | 144 countries |
Imagine that you’re sending $1,000 to your aunt who has recently moved to Italy. Here’s what an online bank-to-bank transfer would be with Western Union and Ria.
| Western Union | Ria | |
|---|---|---|
| Transfer fee | $0 | $0 |
| Exchange rate | 1 USD = 0.9168 EUR | 1 USD = 0.9145 EUR |
| Transfer speed | 2-5 days | 3-5 days |
| Total received | 916.80 EUR | 914.50 EUR |
With Western Union, you get a stronger exchange rate and your aunt gets 2.30 euros more.
Western Union and Ria offer similar options, but are both more expensive than online money transfer providers. Based on our analysis, Western Union is a better option as they have a more extensive network and offer discounts for new customers. Of course, you’ll want to compare your options to find the service that best fits your individual needs.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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