How to Become a Western Union Authorized Money Transfer Agent
- Go to https://agentportal.westernunion.com/ap/agentregister.do
- Fill up the online form liked there.
- once your application is accepted, an agent will get in touch with you.
How to contact Western Union customer service in the Philippines?
Western Union Customer Service Hotline: Feel free to call the Philippines Hotline at: 02 888-1200 (for calls within Metro Manila) or 1-800-1-888-1200 (toll-free nationwide via PLDT Lines) or 1-800-9-888-1200 (toll-free nationwide via Globe Lines) or +632 888-1200 (for calls from overseas).
What is a Western Union money transfer agent franchise?
The Western Union Franchise or Money Transfer Agent system allows you to earn your income from the accumulated commission you make from every money transfer transaction made in your branch.
Is it easy to start a Western Union franchise?
Western Union is established worldwide and thus trusted by a wide market especially customers that remit from foreign countries. It also signed partnerships with large and established corporations and financial organizations to cater to a broader range of service needs. It’s easy to start a franchise of Western Union.
Is Western Union a profitable business opportunity?
The Western Union Franchise is always open to hard-working individuals who wish to become Money Transfer or Remittance Agents. According to people we know who are in this sector for several years already, it is quite a profitable business opportunity that you should consider.
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How much is the remittance franchise in the Philippines?
Franchise Fee: PHP 498,000. Investment Capital: PHP 498k.
How do I become a remittance agent in the Philippines?
NEW AGENT REQUIREMENTSCorporation documents or Partnership Agreements - if incorporated at least certificate of incorporation, directors and owners information.Business Permit - from the city where your business is located.2 Clear copies of your government issued picture ID of the owners of the company.More items...
How do I start Western Union?
The purpose of remittance....Choose how you want to receive moneyVisit one of the 4,500+ Western Union agent locations1 in Nigeria.Provide your sender's name, the amount expected and the tracking number (MTCN).Show a government-issued ID.Get your money once your details have been verified.
Can I invest in Western Union?
Can Indian Investors purchase shares of Western Union Co? Yes, Indian Investors can invest in the Western Union Co (WU) Share by opening an international trading account with Angel One.
How can I start money exchange business in the Philippines?
Sole proprietors need to register with the Department of Trade and Industry, while corporations and partnerships must go to the Securities and Exchange Commission. You must then get a barangay clearance before proceeding to get a mayor's permit. Note, however, that you must be registered with the Central Bank, too.
How do I start a money transfer business?
How to start money transfer business in India?Have a Company Registration.Apply for GST Registration.Open a Current Bank Account.Get Shop Establishment Registration.Trademark Registration and ISO Certification.
What is the limit for Western Union money transfer in Philippines?
You should be able to send up to $19,000 as a remittance to the Philippines. However, your personal daily limit will depend on the service you choose and your transfer history.
What do you need to register for Western Union?
Register your profile in 3 simple stepsFull name.Valid BVN (Bank Verification Number)Address.Mobile phone number / Email address.Country of birth.Date of birth.Nationality.Occupation.
Who is the owner of Western Union?
The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado....Western Union.TypePublic companyArea servedWorldwideKey peopleJeffrey A. Joerres (Chairman) Devin McGranahan (President and CEO)13 more rows
Is Western Union business profitable?
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments....2021 Outlook.Operating Profit MarginApproximately 21.5%Effective Tax RateMid-teens rangeEarnings Per ShareIn a range of $2.00 - $2.102 more rows•Feb 10, 2021
Is Western Union a franchise?
Western Union partners with thousands of businesses to distribute services from money transfers and money orders to bill payments. These partners, which Western Union refers to as "agents," operate much like franchisees in providing familiar services in a uniform manner from a well-known brand.
How do Western Union agents make money?
Each time a consumer sends a Western Union money transfer, they pay a transfer fee for the service. As a Western Union agent, you'll earn a commission on the transfer fee for every transaction you process. The more transactions you send or receive, the more you earn.
How do you become a money transfer agent?
1) He/she must be a citizen of India 2) He/she must have completed 18 years of age before they apply for the money transfer agent registration. 3) He /She should have valid ID & Address Proof along with shop address proof.
What is a remittance agent?
Under federal law, a remittance transfer provider is a business that transfers money electronically for consumers to people and businesses in foreign countries. These companies include many money transmitters, banks and credit unions, and possibly other types of financial services companies.
How do Western Union agents make money?
Each time a consumer sends a Western Union money transfer, they pay a transfer fee for the service. As a Western Union agent, you'll earn a commission on the transfer fee for every transaction you process. The more transactions you send or receive, the more you earn.
How do I become an RIA transfer agent?
How to become an RIAStep 1: Pass the Series 65 exam. ... Step 2: Register with your state or the SEC. ... Step 3: Set up a business. ... Step 4: Choose a custodian. ... Step 5: Invest in technology. ... Step 6: Complete the transition to becoming an RIA.
New customers
Tap into a pool of customers who are actively seeking local and international money transfer services.
Customer loyalty
Be the go-to service provider for your customers. More services mean greater convenience for them.
How Much Does a Western Union Franchise cost?
Zero. There is no Franchise fee or royalty fees with Western Union. If you have all the equipment that is required (computer, printer and an internet connection) – then there’s even no investment required. Western Union will even provide you with a free sales starter kit, some marketing materials, and also their money transfer software.
What is Western Union?
Western Union is a powerful global brand, and the biggest Money Transfer Business on the planet. When you become part of such a powerful family – you get a bit of that credibility, and can leverage that to promote your business, and possibly even other businesses you own.
Why is money remittance important in the Philippines?
Why? Because it make it so easy and convenient to remit money to and from anywhere in the world, and in which currency you wish. Obviously, Money Transfer businesses have become extremely important for Filipinos, due to our 11 or so million OFWs who rely on a Money Transfer business to send money back home to their relatives. Money Remittance businesses have helped our economy and many others, grow exponentially.
What was Western Union's first business?
At first, it was all about delivering telegraphs and providing communications. Western Union was actually the first communications empire which set a pattern for future American-style communications businesses, and even for the ones we know today. However, it was in 1871 when Western Union introduced its Money Transfer service. Naturally, the Money Transfer Business was based on the existing and extensive telegraph network, but in the late 1870’s, as the Telephone slowly replaced the Telegraph, the Money Transfer Business became Western Union’s main core operations.
How often do you use Western Union money transfer?
Consistent Revenue: According to market research, almost 80% of customers who use money transfer services – do it frequently, every month or even every week.
What business has the logo of the Black and Yellow logo?
You probably used one of the big Money Transfer businesses out there like MoneyGram, Xoom, Transferiwise, ExpressPay, but most probably you used the most famous Money Transfer Business in the world, the one with the iconic Black & Yellow logo, Western Union. Today we will discuss the business opportunity which lies in the Western Union Franchise.
How does Western Union calculate fees?
Their system will automatically calculate the fees based on the amount of money sent by your customer, the service chosen, and the destination country.
How do I apply as a Western Union franchise?
All you have to do is to register and enroll online to become an official and accredited agent.
What support will I receive when I partner as a Western Union franchise?
We’ll provide your training and software for free. As a Western Union agent, you’ll have access to our Customer Care who’ll answer any questions you may have about offering our service.
What are the benefits of a Western Union agent?
As an agent, you attract new customers by offering Western Union money transfer services.
What do I need in order to offer Western Union money transfer services?
You’ll need a computer, an Internet connection, and a printer at your retail location. Once you’ve installed the software we’ll provide, you’ll be able to offer money transfer services and earn a commission on every Western Union money transfer that’s sent or received from your retail locations (s).
How will I earn money with Western Union?
Each time a consumer sends a Western Union money transfer, they’ll pay a transfer fee for the service. As a Western Union agent, you’ll earn commission on the transfer fee for every transaction you process. The more transactions you send or receive, the more you earn.
What type of business do I need to have to be eligible?
Many retail businesses make great Western Union agents. Agents in our network own businesses as diverse as convenience stores, financial services providers, newsagents, pawnbrokers and travel agencies.
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Find a location
Find contacts of Western Union agent locations for retail-related enquiries.
How to become a Western Union money transfer agent?
To begin the process of becoming a Western Union Money Transfer Agent, fill out a pre-qualification form and mail to the address or fax number printed on the form. AT-A-GLANCE. Attract more customers to your business. Strengthen customer loyalty.
What states regulate franchises?
Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, ...
What is Western Union?
Western Union is a money and message transfer service based out of the United States, with agents all around the world. Anyone interested in becoming a new agent must apply and be accepted through Western Union's corporate headquarters. Learning how to become a Western Union agent can help create a lucrative opportunity for your business.
How to contact Western Union?
Remember that you can call Western Union's customer service line at 1-800-325-6000 if you have any questions about the application process. Click on another answer to find the right one...
What is Western Union's agent portal?
The Agent Portal is Western Union's online resource for agents around the world. It's free to enroll in the AgentPortal, and being enrolled will make it easier for you to order supplies, access training and fraud-prevention information, report your money transfers, and access customer service assistance.
How many references are there in wikiHow?
To create this article, 20 people, some anonymous, worked to edit and improve it over time. There are 11 references cited in this article, which can be found at the bottom of the page.
How to become a Western Union agent?
To become an agent of Western Union, start by owning an independent retail business that is eligible to become a qualified Western Union location, such as a convenience store or drug store. Next, obtain the equipment you need to complete transactions, such as a working computer, a reliable internet connection, and a printer. Then, complete Western Union 's online application and if you're approved, Western Union will send you the software and a training starter pack so you can begin conducting transactions! For tips on completing the online application, read on!
What is a starter pack for Western Union?
This starter pack includes all the necessary training information you'll need to begin making transactions, as well as marketing/promotional materials to advertise your new services to the public.
How does Western Union make money?
Earn money from Western Union. Customers are charged a transfer fee on every money transfer they make with Western Union. That money goes to Western Union, and it's how WU earns a profit. However, Western Union will pay you a commission on every transfer fee that is processed from each transaction your business sends or receives. The more money you earn for Western Union at your business, the more commissions you earn.
How to start a Pawnshop franchise in Palawan?
If you want to start a franchise of Palawan Express you have to fill up forms and applications to be evaluated by Palawan Pawnshop. Palawan requires a security bond for approved applicants. But their franchise offers are currently on hold. You may contact them on their website and landline or look for Ms. Rebecca Badayos and other Palwan Pawnshop Managers. Contact them through their website, email, or landline
When did Western Union start money transfer?
It was 1871 when Western Union offered its first Money Transfer service to the public. Initially, it was based on their existing telegraph network. They eventually replaced their telegraph business and fully transitioned into Money Transfer Services.
What is ExpressPay franchise?
ExpressPay is a franchise business that is into low investment high profit, fast return on investment e-commerce business. The ExpressPay franchise business includes Bayad Bills Payment Center, Money Remittance local and international, Eload – Prepaid Load, Travel and Tours, Courier Services and other online based services. ExpressPay franchise business a 6 in 1 package that is ready to operate, fully set-up franchise business in the Philippines. Check our Franchise Packages
How many branches does M Lhuillier have?
M Lhuillier is one of the top players in terms of money remittance. It’s easy to send money because there are 1,850 branches of M Lhuillier nationwide. Approximately 150 branches are operating 24 hours, 7 days a week. They also have partners and you can send money even abroad.
How much is Bangko Sentral ng Pilipinas remittance?
In fact, Bangko Sentral ng Pilipinas recorded a remittance growth of 7.6% in personal remittances which is about $2.737 billion. The good news is that you can capitalize on the success of one of the 20,000 successful remittance centers nationwide.
Is the Philippines a remittance center?
In fact, the Philippines is known to be the fourth largest nation to receive remittances from OFWs. In fact, Bangko Sentral ng Pilipinas recorded a remittance growth of 7.6% in personal remittances which is about $2.737 billion. The good news is that you can capitalize on the success of one of the 20,000 successful remittance centers nationwide.
Do Filipinos have money remittance centers?
Money remittance centers are not new to Filipinos. They are convenient and cheaper compared to banks and other financial institutions and they offer their services often for a small fee. Customers that need to transfer money from one location to another don’t need bank accounts, and they are able to send their money in just a matter of seconds.
