Western Union 2018-01-21T03:11:40+00:00

Western Union


Western Union is both the largest and oldest Money Transfer Operator. It allows its customers to transfer money at 500,000 agent locations in 200 countries and territories worldwide. If size and longevity are used as barometers of a company’s trustworthiness, there are few close competitors. When sending funds domestically, the money can often be available in a matter of minutes. In addition to individuals, Western Union also caters to businesses through its Western Union Business Solutions division, and offers bill payment services in certain countries.

Although HiFX claims that it offers bank beating exchange rate, it is not so convenient to compare. Unlike some competitors like TransferWise and currencyfair, its exchange rate is only available after you became a registered customer. With HiFX, you can expect the recipient to receive the money within a period of 1 to 4 days. Trusted by hundreds of thousands of satisfied customers and rated 5 stars on trustpilot, HiFX won’t let you down.

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Founded: 1851
Headquarters: Meridian, Colorado, USA
Offices: in over 200 countries worldwide
Regulated by: FinCEN, FCA, ASIC
Trading channels: website, mobile app, agent locations

reviews on TRUSTPILOT


8.6/10 Great

Western Union Key Features

Pay-in Options bank transfer, debit card, credit card
Recipient’s Options bank account only
Min Transfer Amount £50
Max Transfer Amount £300,000 via bank transfer
Speed most transfers are completed in 1-4 days
Transfer Fees no fees on all transfers
Exchange Rate HiFX claims a bank-beating exchange rate
Currencies Available 142 currencies

Western Union Review

Transfer Fees

HiFX claims they charge no transfer fees on all transfers.

However, you still have to be aware some other fees which HiFX are not liable for when sending money to them.  HiFX encourages you to pay by bank transfer or debit card. But before you start to fund HiFX, you need to check with your sending bank and the receiving bank, as they may charge some fees. Credit card transactions will cost you an additional fee of 1.6% of total amount.

Exchange Rate

HiFX offers bank beating exchange rate which is very competitive. This rate varies by type of currency. Therefore, the markup from NZD to USD, for instance, is 1% more than mid-market rate. The average markup on exchange rate tends to be 1.5%.


HiFX advises you 1-4 working days for the money to be delivered to recipient’s account. The method you use to pay HiFX will affect the whole processing time. Funding via credit or debit card results your money to reach HiFX immediately. Bank transfer usually takes up to 3 days for them to receive your money.

User Experience

HiFX’s customer service is 24/7 either by phone or email. Customers can complete their transfers on website or over phone. However, lack of mobile app makes HiFX far behind most competitors.

It is also un-convenient for clients when it comes to comparing transfer costs. You’re allowed to check exchange rate only after you logged into their website. That means you have to sign up for a free account first before you can compare and transfer. From our experience, it only takes a couple of minutes to finish register. But you’ll need to upload the following documents to be approved,

1 x Proof of Identity: passport, national ID card, or driver license.

1 x Proof of Address: recent utility bill or bank statement.

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Western Union Pros and Cons

  • zero transfer fees on all transfers

  • 142 currencies and 170+ countries available

  • small limitation of £50 minimum transfer amount

  • 24/7 friendly UK based telephone support

  • website only, without mobile app

  • only registered clients are able to compare exchange rate

  • money account only for recipient, without cash pick-up

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