How to Get a Franchise With Western Union
- 1. Visit the Western Union website to familiarize yourself with the company's three main areas of agent services. ...
- 2. Call Western Union at 1-800-325-6000 to ask any questions you have about the different services or about specific requirements for agents to offer these services. ...
- 3. Download the agent pre-qualifcation form from the Western Union website. ...
Full Answer
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.
Do you need a license to be a Western Union agent?
All money transfer services are required to have proper licensing, though the nature of this licensing may vary by location. Since Western Union has a worldwide network of money transfer agents, there is no single process that applies to all agents. However, Western Union facilitates all of the necessary licensing for their agents.
How do I add Western Union to my business?
If you have a retail business such as financial service providers, convenience stores, pawnbrokers, travel agencies or any business for that matter. You might be interested to add Western Union to add to your goods and services. All you have to do is to register and enrol online to become an official and accredited agent.
How much does it cost to open a Western Union franchise?
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.
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How do you become a WU agent?
To become a Western Union Agent, please visit the Western Union Agent Portal or call 1-800-325-6000 to learn more. Was this article helpful?
How do I open a Western Union money transfer?
Register and get started with Western UnionRegister. online. Fill-in online. registration. form. Get started.Verify. email. Visit the nearby GraceKennedy. location and provide the same ID. you used for online registration. ... Enjoy sending. money. After you receive a profile. verification email, you can start. sending money online.
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
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.
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.
Can Western Union be used for business?
Thanks to our long history in money transfers, Western Union Business Solution is the ideal partner of large and small businesses for international payments in over 130 currencies around the world.
How can I start a money transfer service?
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.
Can you invest in Western Union?
Enter the amount you'd like to invest in Western Union Co/The stock, then proceed to checkout. Western Union Co/The's share price is determined by its bid-ask spread, which is the difference between the price that buyers are willing to pay and the price that sellers are willing to accept.
What bank owns Western Union?
In 1995, First Financial merged with First Data Corporation in a $6 billion transaction. After acquiring the company, First Data Corporation made the decision to relaunch telegraphy services under the Western Union brand.
What is the commission for money transfer?
1%Commission and Earning This means that on any transaction that you would do, you will be paid 1% of it. For example, if you transfer Ts10,000 for your customer, you would get a commission of Rs. 100.
How much are Western Union fees?
Up to $16.00 per transfer. Up to $35 per transfer for domestic transfers. Up to $50 per transfer for international transfers.
What is the highest amount you can send through Western Union?
50,000 USDMar 15, 2022Knowledge Once verified, you can send up to 50,000 USD. You can verify your identity online or at an agent location. Please note: The sending limit may vary depending on the destination country and the service you choose.
How much does it cost to send $100 Western Union?
$14.00Fees for money transfers within the US To send $100 from your bank account to their bank account still carries a significant fee of $14.00. Sending the same amount from your credit card as a cash pickup will cost you $20.50.
What kind of ID do you need to pick up money from Western Union?
What do I need to pick up money at an agent location? Bring a valid government-issued ID (such as a US driver's license or passport) and the tracking number (MTCN) for the money transfer. You also need to provide the sender's complete name and state the expected amount.
What are the details needed to receive money from Western Union?
Choose how you want to receive money 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.
How much is Western Union money transfer?
Up to $30 per transfer for domestic transfers. Varies for international transfers. Up to $16.00 per transfer. Before initiating a transfer, use a bank or transfer service's online calculator (if available) to estimate your money transfer fees and international money transfer fees.
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, ...
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!
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.
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.
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.
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 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...
Does Western Union charge a fee for money transfers?
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.
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.
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.
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.
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.
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 to contact Western Union?
For both cases you can visit the website of Western Union, or you can contact them on these following numbers: 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 Western Union?
Western Union has been in the business of transferring money since 1851. The company started in the United States and is considered as the world’s largest money-transfer network with more than 500,000 agent locations from 200 countries. It is a private subsidiary of First Data Corporation, a payment services company that specializes in the transfer of money from one location to another. Through its vast networks, individuals and businesses are able to transfer money and make payments electronically or through money orders convenient, fast and without hassle. Annually, it sells more than one billion money orders globally.
What is the WU agent portal?
The WU Agent Portal is the official website where interested individuals can sign in or enrol, order supplies, access training, reporting the latest fraud, compliance information and even password resetting. This website is accessible 24/7 from any computer or web browser.
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 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 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.