Wester Union Charges

[A_flyer]

Western union is still very quick and reliable. 1.50 peso is so small anyway. It is only 1.7 pence!!

Quick ... but expensive, if you check carefully all the fees (including lower exchange rate) you will see that 15 to 25% of what you send goes in Western Union pockets.

[amyburple]

We will try this PNB, well see if it will work fine! NO harm in trying! Western is quick but now a days there's a big big change

[benb]

Quick ... but expensive, if you check carefully all the fees (including lower exchange rate) you will see that 15 to 25% of what you send goes in Western Union pockets.

Not really true mate!

Even using the 2 days service (36 hours actually), at an agent (plenty around), works out to be less than 7% overall charge/loss. Assuming £600 transfer cash!

http://www2.ukmoneytransfer.com/Pric...ion=SubmitPage

No point sending very small amounts, obviously. The premium service is in minutes, no where near 25% you are claiming unless you are sending a tiny amount.

Check out the link above. My friend and I have used the 2 day service before, no hassle! Still pretty quick compare to most other service

However, I agree that western union is not cheap for bank to bank transfer.

Cheers

[A_flyer]

Not really true mate!

Even using the 2 days service (36 hours actually), at an agent (plenty around), works out to be less than 7% overall charge/loss. Assuming £600 transfer cash!

Sorry but your 7% do not take in account all their fees.... Like for a loan, what is interresting is what you really pay (including the hidden fees).

On this you have to add their lower exchange rate (my personal calculation taht worked on all my transferts when I used it). They take 3.27% more on this and you have to add now P1.5/P1000 so 0.15%.

7% + 3.27% + 0.15% = 10.42%

So in your example you give 10.42% of what you send to Western Union (so 62.52£).

For the same amount using PNB Europe, it's 5£ (0.83%) on which you add around 0.75% for the exchange rate (I'm always referring on the Interbank rate in both case).

0.83% + 0.75% = 1.58%

So for your example it's only 9.50£ for 600£ sent!

Your gain is 53,02£

I did my choice a long time ago... PNB Europe!!!!

I wrote a table some years ago with this full calculation with Western Union transfers (from 10 to 2000€), and the real fees were really going at 25% is some cases...