The proliferation of the Internet into our everyday lives has led to the mushrooming of various online fund transfer companies. Whether you choose CurrencyFair or Western Union, know that your funds are in safe hands. Besides, both companies tend to offer better deals when compared to leading banks. However, is there a clear winner in the Western Union vs. CurrencyFair comparison?
Thousands of people write reviews of companies they have worked with on Trustpilot, giving you an easy means to compare competitors. While Western Union averages 8.1 out of 10 on this platform, CurrencyFair rates considerably better, at 9.6 out of 10.
Various aspects require your attention when selecting Western Union or CurrencyFair. This comparison is divided into multiple sections to simplify the decision-making process:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Transfer Fees
Whether you choose CurrencyFair or Western Union, there is a good chance you will also pay lower fees than what your local bank charges. The different fee structures that both companies follow require your attention.
- If your transfer through CurrencyFair finds a match, you pay a flat €3 fee along with 0.25% to 0.3% of the transferred amount.
- If your transfer does not find a match, CurrencyFair charges a flat €3 fee plus 0.4% to 0.6% of the transferred amount.
- CurrencyFair customers, on average, pay around 0.4% of the amount they transfer plus €3 as fees.
- You need to pay an added fee to make an express deposit.
- You can get further details on this page.
- The fees you have to pay depend on factors such as the mode of payment, transfer method, and destination country.
- Sending money to a cash pick-up center tends to cost more than transferring funds to a bank account.
- Paying for your transfer using a debit or credit card usually costs more than making a payment via an electronic bank transfer.
- Check how much you will have to pay in fees by using the Western Union price estimator.
Ease of Use
Registering online with both companies is easy, and takes little time. When it comes to website access in foreign languages and transfer methods available, one company does better than the other in this Western Union vs. CurrencyFair comparison.
- CurrencyFair provides website access in English, French, and German.
- It provides services to individuals and businesses.
- As an international customer, you can pay for your transfer via electronic bank transfer.
- Making express deposits in different European currencies is possible if you use Visa or Mastercard debit cards.
- Australians may pay for their transfers via BPAY.
- The company provides apps for Android and iOS devices.
- Use CurrencyFair Exchange Rate Alerts to receive exchange rates in your email.
- Other than English, access to the Western Union website comes in languages such as Spanish, French, German, Italian, Russian, and Japanese.
- Western Union provides services to individuals and businesses.
- Depending on your country of residence, you can pay for your transfer using cash, a debit card, a credit card, or an electronic bank transfer.
- Other than online, you can initiate your transfer over the phone or by visiting a Western Union center.
- Depending on the destination country, you can transfer funds to a bank account or a cash pick-up center.
- Western Union lets you top up mobile wallets in some countries.
- In the U.S., you are able to transfer funds to inmates.
Regular Overseas Payments
This section of the CurrencyFair vs. Western Union comparison clearly favors one company over the other. While scheduling future payments with CurrencyFair is easy, Western Union is yet to start offering this functionality.
- Use the CurrencyFair coupon to get free transfers.
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