Western Union...

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crazyhorse09

New member

• Oct 16, 2004

• #1

Hey folks,

Any of you guys have experience with slightly large money transactions with Western Union? I am about to send about $750 using their services. Would there be any questioning done with this size order or would it be fine?

Also, around how much should I be expecting to pay to use their services? I was originally planning on using EvoCash but there seems to be a lot of sh*t going on with them and they seem very sketchy to me at this point.

Thanks guys

 

DB006

New member

• Oct 16, 2004

• #2

it just cost me 50 even to send 600 bucks.

 

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cool

New member

• Oct 16, 2004

• #3

I've done (2) up to about $500.00 They chrged me $27.00 fee for that. ( the $500)

They have a paragraph on the form that says a "question and answer" for validation of receiver of money for amounts over $1000.00.

Should be fine.

 

C

cool

New member

• Oct 16, 2004

• #4

Oh yeah, they only take cash to send cash.

 

sundevil

New member

• Oct 16, 2004

• #5

Don't use their online service. They will call to confirm if they actually approve it, often they don't -- lots of reverse scams use the online version. Also, online requires credit card and is easily traced. You should not have any issues with WU at the local grocery store or liquor store -- the clerks really don't care.

 

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Willieman

New member

• Oct 16, 2004

• #6

If the person you are sending to request "NO ID" and gives you a secret question and answer, make sure the person doing the transaction types it in.

 

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crazyhorse09

New member

• Oct 16, 2004

• #7

Alright, thanks guys.

Back when I was home (back at school now) I got charged $70 to send 650, but that was with Money Gram! Hope the rates aren't that bad around here...

 

DB006

New member

• Oct 16, 2004

• #8

the price charged seems to be consistent, i sent 5 something a couple weeks ago and it was 44 bucks. i sent a little more than a thousand before and it was a hundred and change.

 

MMX2

New member

• Oct 17, 2004

• #9

DB006 said:

the price charged seems to be consistent, i sent 5 something a couple weeks ago and it was 44 bucks. i sent a little more than a thousand before and it was a hundred and change.

Click to expand...

Unfortumately, those rates are correct.
I don't get the service- since its send electronically, I don't see why there can't be flat fee and limit the amount one can send? They are making a killing off fees.

 

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fun28hi

New member

• Oct 17, 2004

• #10

yep they also screw ya if you do international cause they change the money themselves and its very advantagouse to them

 

modizzle

New member

• Oct 17, 2004

• #11

I wish there was just a flat fee to send money, it's horrible how they have different fees for different about of money...I think they need to hear our voices or something...Or someone should come up with a new company with just flat fee rates...

 

ColdHeartBear

V.I.P

• Oct 17, 2004

• #12

Western Union, the various E-Golds, evocash, etc... make a killing even when USA based. By my own surmise, copying the best practises used to diminish fraud, a "company" with just under 4 million dollars could clear a billion in less than 5 years with a 15% loss per year due to fraud and bad accounts. This seems perfectly suited for an operation that had only to pay fees (but not taxes) to one of the small island governments. This theoretical operation would only need to charge 7% per transaction and the whole operation would be an internet based entity with minimal employees with the largest actual costs being computer and internet security.
I am definitely available for a piece of that action.

 

modizzle

New member

• Oct 17, 2004

• #13

where do i sign up for the piece of that action too

 

ColdHeartBear

V.I.P

• Oct 17, 2004

• #14

Yeah.
Simple math.
Average transaction period is less than 1 week.
most transactions measured in hours.
flat 7% fee on every transaction reduced to 4% on a sliding scale say at 10 grand.
Annual expenses:
Gov't fee...say 50 grand.
local bank fees 5 grand.
Pay IT security professional 100 grand.
pay 3 techs 30 grand each.
pay accountant 50 grand.
outside oversight accounting firm 10 grand.
all software purchased with insured guarantees, approx 7 grand.
hardware 20 grand.
rental 12 grand.
security service 80 grand.
It would be cheaper for security and rental on most islands. But pay the tech at best quality rates with insured guarantees for peace of mind.
When locals learn you hit big time either pay more or move on. not a problem for net company.