Completely wrong again mate! Pls read my post carefully and click on the link!
The 7% already includes all the charges, that is I have already added the 3.5% and 1.5 peso/1000
charge. this is the same £600 example. You have not looked at the link and assumed incorrect charges. Sorry, but your math is completely wrong yet again!
However, I already have agreed that PNB is cheaper. But western union is not as bad as you think.
Cheers
Sorry but it's you who is wrong. The 7% is the indicated fee you pay (on their site) and do not include the reduced exchange rate. Nor the new one they add when retrieving the money...Originally Posted by benb
Do the calculation from a real case (the amount you paid and the amount the recipient get) and not from the info they gave on their site. They never tell you in advance that they reduce the exchange rate...
Best regards.
Yves
For goodness sake, its ok to make mistakes mate!
Its £15 charge for £600.
Its the 36 hour service I mentioned! That is 2.5%! (15/600 x 100). Than add about 3.5% commission loss, another 0.15% receiving loss. So overall is 7%. Do you understand now? You need a course on math! Sorry
I have already done this with the western union agent and have done a few transfers before including friends!
Get it mate?
On Western Union UK site, they indicate 42£ for sending 600£
with the following remark:
In addition to the transfer fees applicable to each transaction, Western Union will apply a currency exchange rate to convert your funds into foreign currency. Any difference between the currency exchange rate given offered to customers and the currency exchange rate received by Western Union will be kept by Western Union (and, in some instances, its agents) in addition to the transfer.
Best regards.
Yves
You have not used western union for a long time I guess, SO you don't know!
Ring them!i've already given you the link to prove the calculations.
The 36 hours service is only available at any agent, plenty around too.
My colleague transferred it a couple of days ago. I used it a couple of times too.
For long term, regular transfers, PNB is the cheapest!
Wu is not that bad.
just looked at there web site and the example they gave was debit card or cash £42 charge to send £600
credit card £51.50ish thats nearly 9% wow money for old rope fx 84p-pound and yes it did eventualy let me put the 2 day option and that was £15.00
xoom seems to want about $50 for that amount by paypal or visa but i guess there are other associated cost to the sender then
i use western union for nearly 3 years now,
i sent money twice a mounth but as far as i know
my family never been charged for anything.
Well I avoid tu use it as much as possible to save my money. I prefer to use it for other things that to put it directly in their pockets.
Last time I used it was some months ago anyway...
No need to do expense in phone calls, all is indicated on their web site. I explain again, I seems not to be clear enough:
I go there: www.westernunion.co.uk
I choose "Price Online Services" (middle left of the screen)
Country "Philippines"
Currency "United Kingdom Pound"
Amount 600£
Result on next page:
Money transfer fee* £ 42.00 (so exactly 7% of the 600£ to send)
Estimated exchange rate 1 United Kingdom Pound = 84.1756653 Philippine Peso
Estimated local currency pay out = 50505.40 Philippine Peso
The problem I'm trying to explain here is the rate WU is using, it's too low. It's roughly 3.27% lower than interbank rate (the one I always use is the one here from www.oanda.com/convert/classic ).
If I look today, I can see that the OANDA interbank rate is P87.00624 for 1 GBP
So if you remove 3.27% of 87.00624 you find a rate of 84.116 which is not far from the rate they use...
Meaning these 3.27% of the exchange rate is going directly from your pocket to Western Union pocket.
My calculation was and is still accurate: 7%+3.27%+0.15%=10.42%
So you pay £642 and the recipient get P49748 (real exchange rate is 49748/642 = P77.49/GBP).
Same case with PNB (see my calculation is a preceding post):
You pay £605 and the recipient get P51365 (real exchange rate is 51365/605 = P84.90/GBP).
You pay less: you save £37, and the recipient get more money: P1617 more.
I hope my explanation to be clear enough now.
I don't say they are good or bad, I just say they are expensive. Their only advantage is that the transfert is immediate (within a minute) and the person can immediatly get the money with the code.
Best regards.
Yves
never used WU, never will
misses family can wait a day, i'm not wasting £40-£50 just to transfer money, did that many years ago, £5 is all i pay now
good old pnb
Its the 36 hours service from the start of my post! which is £15 charge for £600! Not the premium service you are talking about which is £42 - i know that, everyone knows that.
So overall its about 7% only for the 36hours service.
PLEASE READ MY POST earlier again and again.
Again, its only available at the agent, cash only.
Why are you so afraid to call them? Man, you are stubborn.
I've used it and available on the link I gave you.
Man, some people just cannot accept defeat!
Please read post 25 of this thread, the start of all this. Get it now?
Please someone, help this bloke. Wrong is wrong. everyone including me makes mistakes.
A_Flyer,
Use this to find your local agent, ring the local number. Its not expensive to call local.
https://wumt.westernunion.com/info/a...country=global
Yes that may be true (except for the Boss) but not everyone is so keen on victory benb this is mostly a co-operative forum ...with banter....and a bit of tail twisting in good sport......when i looked at the link earlier it didnt show the option you correctly state at the begining but only later when I had twiddled a bit..
I agree! £5 is still the best deal.never used WU, never will
misses family can wait a day, i'm not wasting £40-£50 just to transfer money, did that many years ago, £5 is all i pay now
good old pnb
I'm looking into the nationwide card for my friend, which is exchange rate fee free overseas. It might beat PNB. But the card owner issue might be a issue. Hmm..??
Cheers
I don't mean to be rude to anyone. Its a fantastic forum.Yes that may be true (except for the Boss) but not everyone is so keen on victory benb this is mostly a co-operative forum ...with banter....and a bit of tail twisting in good sport......when i looked at the link earlier it didnt show the option you correctly state at the begining but only later when I had twiddled a bit..
I've been wrong many times before, and i admit it, but I'll stick to my guns when I'm correct, unless proven wrong.
Best Wishes!
it depends on what exchange rate nationwide give you, not much is free these's days, especially from a bank
Dont use Joe but some i asked on here said it was what the fx exchange was saying wich is there or about what PNB have.
Like you say about not much free from a bank and it seems PNB skimp on making life easy for the customer sometimes.
Yes we experience that as wellWE recently sent via Western Union money remittance to my wife's mother and for the first time ever she was asked to pay Pesos 1.50 centavo a per each 1000.00 Pesos..When I was told this I realLy get upset. We pay already the charges here so why we should pay again? I told to my mother in law that next time if they ask again to go to onother western union office to get her money.What this people think ? We do not make money easy here and we have to work hard to earn the cash...SOMETHING should be done about .....This people ripping off and making illegal money for their fat stomach.......
Is tis happen to anybody else???????, They've been charging Documentary Stamp Tax, I noticed the letter from WU window,implemented last July 1st but I don't see
further explanation for the said DST
Yes you're right Yves, but in a bright side leaving in a rural area WU is convenient for me, considering its just a step away from my shop
so safer to collect money
Anyway PNB account will consider in near future
Don't make promises when you are in JOY. Don't reply when you are SAD.
Don't take decisions when you are ANGRY. Think twice, Act wise. BE happy.
The exchange rate on using a N/W debit card in Phils is very good - usually better than the PNB rate for the day.it depends on what exchange rate nationwide give you, not much is free these's days, especially from a bank
However, I have a problem with N/W ... my card expired at the end of July - I received a new PIN and waited, patiently to receive tha card. In the end I called N/W only to be told that they will not send the card to Phils ... I have to visit a branch (only in the UK?) to collect my card!
Thanks Peter. My colleagues told me the same too, but the rate changes everyday and follows the bank's exchange rates which are really good.The exchange rate on using a N/W debit card in Phils is very good - usually better than the PNB rate for the day.
However, I have a problem with N/W ... my card expired at the end of July - I received a new PIN and waited, patiently to receive tha card. In the end I called N/W only to be told that they will not send the card to Phils ... I have to visit a branch (only in the UK?) to collect my card!
I'm going to give it a try for my next holiday. I suspect that its better than PNB too.
Cheers
no sense in using western union. in xoom the charges are less and i can send more online. if i try using WU they have a lower limit that i can send. so on both counts XOOM beats western union, no argument.
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