Western Union vs Currencies Direct: Fees & Reviews Compared

Both Western Union and Currencies Direct are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Western Union	Currencies Direct
Homepage
Transfer Fee	Based on the sender’s location, transfer amount, and payment method. Usually, there’s a fee that’s as low as $0-$15, but some can be as high as $100 if sending to an exotic location or paying by credit card.	No fee
Average Exchange Rate Markup	1% – 5%	0.4% to 1.4%
Minimum Transfer Amount	$1	$1
Maximum Transfer Amount	Depending on the sender’s country: $50,000 if identity verified $3,000 if identity isn’t verified	£25,000 through the mobile app £300,000 by placing a special request

Reviews

	Western Union	Currencies Direct
Trustpilot Rating	3.9	4.9
Number of Trustpilot Reviews	50,800	9,400
iOS App Rating	4.8	3.5
Number of iOS App Reviews	630,000	100
Android App Rating	4.6	3.5
Number of Android App Reviews	28,000	500

Features

	Western Union	Currencies Direct
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	Yes	Yes
In-person Transfers	Yes	Yes
Available Countries	200	200
Number of Currencies	130	70
Payment Methods	Bank account Debit card Credit card Cash	Bank account Debit card Credit card Check
Receiving Methods	Online wallet Bank account Cash pickup Home delivery	Bank account
Cash Pickup Option	Yes	No
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Mobile app Phone In person
Supported Languages	English, Spanish, French, Danish, Norwegian, Turkish, German, Italian, Russian, Swedish, Chinese, Dutch, Polish, Ukrainian, Portuguese, Japanese, and Finnish	English, French, Spanish, Portuguese, Italian, Norwegian, Swedish, German, Chinese, and Korean
Transfer Speed	Within minutes for cash or debit card transfers 1-3 days for transfers between bank accounts	1-2 hours within Europe 1-2 days for overseas transfers
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	N/A
Business Features	N/A	Spot contracts Forwards contracts Limit orders Stop-loss orders Recurring transfers Digital multi-currency wallet Rate alerts API portal
Debit Card	Western Union® Netspend® Prepaid Mastercard	Currencies Direct multi-currency debit card
Cancellation Policy	Cancellations are possible as long as the money hasn’t been claimed by the recipient.	N/A
Suitability	Small money transfers	Large money transfers

Company Comparison

	Western Union	Currencies Direct
Year Founded	1851	1996
Headquarters	Denver, CO, United States	London, UK
Other Office Locations	Brazil, Sweden, Australia, New Zealand, Poland, Austria, Canada, France, Germany, Italy, China, Japan, Malaysia, Malta, Singapore, Switzerland, South Korea, United Kingdom, etc.	Orlando (USA), Saint John (Canada), Mumbai (India), Albufeira (Portugal), 3 locations in South Africa, and 19 locations in Spain
Annual Trading Volume	$300 billion	£9.5 billion
Number of Employees	10500	550
Number of Clients	150 million	430000
Regulatory Institutions	State licensing in the USA FINTRAC in Canada FCA in the UK AUSTRAC in Australia	FinCEN in the USA FINTRAC in Canada FCA in the UK Bank of Spain in Spain and the EU ACPR in France FSB in South Africa
Awards	Digital Edge 25 Awards (2016) Payments Innovation of the Year (2016) Candidate Experience Award (Talent Board, 2017, 2018) “Way to Go” Champion Award (Denver Regional Council of Governments, 2019) Regional Partner Award (Education for Employment, 2019) Humanitarian Logistics Award (American Logistics Aid Network, 2020) Consumer Payments Innovation Award (FinTech Breakthrough Awards, 2021)	Credit Rating of Level 1 (Dun & Bradstreet Corporation, 2010) National Business Awards Finalist (National Business Awards, 2016) Most Positive Client Reviews (Money Transfer Comparison, 2017) Consumer Champion of the Year (Money Age Magazine, 2017) Money Transfer Provider of the Year (Money Age Magazine, 2016, 2017,2018, 2019, 2020, and 2021) Best Rated Money Transfer (Money Transfer Comparison, 2019, 2020, 2021)

Western Union Pros & Cons

Western Union Pros

• Diverse payment methods
• Availability of cash pickup locations
• High rating on Trustpilot
• Excellent mobile application
• An abundant industry experience
• Comprehensive information repository
• Exceptional convenience
• Worldwide service reach
• Robust currency handling
• Rapid fund transfers
• Fee and rate prediction tool
• Beneficial rewards scheme

Western Union Cons

• Not optimal for substantial money transfers
• High transaction fees
• High markups on exchange rates
• Absence of hedging options for businesses

Currencies Direct Pros & Cons

Currencies Direct Pros

• 4.9 out of 5 on Trustpilot based on over 8,000 reviews
• No transfer fees
• Free Amazon gift card for new paying customers
• Multiple payment options
• Amazing customer service
• Favourable exchange rates
• Extensive knowledge base
• Highly convenient
• Range of flexible solutions for everyone
• Global service coverage
• Solid currency coverage
• Local coverage
• Decades of experience
• Fast money transfers
• Exchange rate alerts option

Currencies Direct Cons

• Not focused on small money transfers
• Limited deposit options
• Limited smaller currency coverage
• No option for instant custom quotes
• Lack of cancellation policy
• Not available in some US states
• Mobile app has transfer limits

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