Western Union

Western Union was established by Ezra Cornell, Hiram Sibley, Jeptha Wade, and Samuel L. Selden. This distinct payment method is available on various crypto platforms that accept Western Union.

It stands out as one of the most user-friendly and secure methods to send money either online or at a physical location. Begin your journey with this trusted and reliable deposit method, using your mobile device to make deposits via Western Union! The transaction service supports the purchase of digital assets, including cryptocurrencies such as Bitcoin and Ethereum. Western Union’s primary objective is to provide global money transfer services. Its headquarters are based in Denver, Colorado. Below, you’ll find more details about the leading crypto exchanges and platforms that enable funding through Western Union.

Summary

The Western Union deposit option is renowned for its broad accessibility and minimal restrictions when purchasing cryptocurrency. Numerous crypto exchanges support Western Union deposits due to their convenience, and unlike other financial institutions, they haven’t restricted deposits to exchange platforms. Known primarily for facilitating international money transfers, this method requires traders to be cautious and ensure they are transacting with legitimate sources to receive the correct amount of cryptocurrency in their e-Wallets. Google Pay and Apple Pay can be used to complete these transactions, but it’s important to check whether all crypto wallets are supported. Understanding the policies of the crypto site you’re using is crucial to ensure they won’t restrict your transactions and will send you your coins once payment is received. While Western Union is a secure method, the process is only as safe as the recipient you are sending money to. Traders can reduce risks by using reliable crypto exchange platforms or escrow services.

What is Western Union?

Most crypto platforms that accept Western Union use it as a transfer service to move money globally to trading brokers. The company allows deposits via Apple Pay and Google Pay and facilitates these transfers through its website or mobile app. Funding your account allows you to directly transfer money to a broker and use the funds to purchase cryptocurrency on these exchanges. It provides a fast, reliable, and convenient method for consumers and businesses to send and receive money worldwide, make purchases, and send payments.

Western Union Costs

Each transaction incurs different costs depending on the transfer amount and recipient country. Traders earn money through currency conversions. Transaction fees are available using the transfer fees calculator on the official website, with costs varying depending on online brokers’ charges for withdrawals and deposits.

Transaction Speed for Western Union

Many users appreciate Western Union for its “Money in Minutes” service, which is almost instant. However, the speed of processing depends on the broker’s promptness in accepting the payment and verifying it with customer service. While domestic transfers may take up to 24 hours, international transfers can take 1-5 business days.

Western Union Deposits

1. Fill out the form with the broker’s BIC and IBAN on the brokerage website under the bank wire transfer option.
2. Select Western Union from the list of deposit methods.
3. Enter the deposit amount and click GO.
4. Complete the transaction with a verification method of your choice, such as Face ID, Touch ID, or PIN code on your mobile device.
5. Afterward, you will receive a Money Transfer Control Number (MTCN), which you provide to the broker to enable them to receive your deposit.

Which are the Leading Countries Where Western Union is Used?

Western Union is commonly used in the US, Canada, and significant parts of Europe. It is also active in New Zealand, Australia, Hong Kong, and the United Arab Emirates. However, it is not available in countries such as North Korea, Cuba, Iran, Venezuela, Ukraine, Russia, and Specially Designated Nationals (SDNs) due to internal policies.

Can You Withdraw from Western Union?

Yes, you can withdraw by following these steps:

1. Submit a withdrawal request to your exchange (which must accept this as a deposit method). They will provide you with an MTCN.
2. Go online or visit the nearest branch with the MTCN to collect your profits.

For assistance, use the contact helpline number available on the website.

Reputation of Western Union

Western Union has a solid reputation for safety and long-term growth in the crypto world. However, some users find it relatively expensive due to daily fluctuations in exchange rates. There are complaints about customer service, money transfers, and bank account issues. Some users have encountered problems with the wrong crypto exchange, and others have reported that their money was claimed by strangers due to poor customer support. In such cases, users may turn to alternatives like MoneyGram, WorldRemit, Wise, or PayPal.

Western Union FAQ

Is it safe to use Western Union for cryptocurrencies?

Western Union is a secure method, but it’s important to use links from trustworthy sources to avoid scams, as there are no regulatory checks preventing these issues. The platform itself is safe as a payment gateway, but you must assess the legitimacy of the source from which you are purchasing crypto.

How do I set up Western Union?

You can download the app on your Apple or Android device or use the website to register an account and begin making trades and purchases on crypto exchanges.

Is Western Union instant?

It typically takes 1-3 days to process transfers, though instant payments are available under the “Money in Minutes” service.

When was Western Union founded?

It was founded in 1851.

Where is the parent company based?

Western Union’s headquarters is located in Denver, Colorado, USA.

Does Western Union only work on Apple devices?

No, it works on all smartphones and desktop devices. The app is available in both the Apple Store and Google Play.