Western Union vs VertoFX: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Western Union	VertoFX
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%	0.2%-0.6%
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	No limit

Reviews

	Western Union	VertoFX
Trustpilot Rating	3.9	3.9
Number of Trustpilot Reviews	50,800	500
iOS App Rating	4.8	N/A
Number of iOS App Reviews	630,000	N/A
Android App Rating	4.6	N/A
Number of Android App Reviews	28,000	N/A

Features

	Western Union	VertoFX
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	Yes	No
In-person Transfers	Yes	No
Available Countries	200	200
Number of Currencies	130	51
Payment Methods	Bank account Debit card Credit card Cash	Bank account Debit card Credit card Online wallet
Receiving Methods	Online wallet Bank account Cash pickup Home delivery	Bank account Online wallet
Cash Pickup Option	Yes	No
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Mobile app
Supported Languages	English, Spanish, French, Danish, Norwegian, Turkish, German, Italian, Russian, Swedish, Chinese, Dutch, Polish, Ukrainian, Portuguese, Japanese, and Finnish	English
Transfer Speed	Within minutes for cash or debit card transfers 1-3 days for transfers between bank accounts	1-2 days
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	No
Business Features	N/A	FX solutions Currency marketplace Market orders Local and global accounts Corporate cards Treasury management Digital multi-currency wallet API integration
Debit Card	Western Union® Netspend® Prepaid Mastercard	Multi-Currency Corporate Card
Cancellation Policy	Cancellations are possible as long as the money hasn’t been claimed by the recipient.	If your transfer hasn’t been completed, you can request a cancellation and refund. Once a transfer has been finalized and the money has been sent to the recipient, it’s generally not possible to cancel the transaction.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Western Union	VertoFX
Year Founded	1851	2017
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.	India, Kenya, South Africa, etc.
Annual Trading Volume	$300 billion	$4 billion
Number of Employees	10500	100
Number of Clients	150 million	3000
Regulatory Institutions	State licensing in the USA FINTRAC in Canada FCA in the UK AUSTRAC in Australia	FinCEN in the USA De Nederlandsche Bank in the EU Central Bank of Kenya in Kenya FSCA 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)	Best Cross-Border Payments Infrastructure (Payment Awards, 2022)

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

VertoFX Pros & Cons

VertoFX Pros

• Diverse payment methods
• Exceptional customer support
• Excellent Trustpilot score
• Zero transfer fees
• Competitive foreign exchange rates
• Comprehensive informational resources
• Peer-to-peer currency trading marketplace
• Digital wallet supporting multiple currencies
• Worldwide service reach spanning over 200 countries
• Robust currency offerings with 51 global currencies
• A plethora of business FX options
• Fast money transfer services
• Flexibility with no set lower or upper transfer limits

VertoFX Cons

• Relatively new in the international money transfer market
• Not ideal for individual money transfers
• Extensive verification documentation needed
• No iOS-compatible mobile application
• Lack of real-time custom quotes

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