Full Answer
How to get a Western Union franchise in the Philippines?
It is actually easy to franchise Western Union in the Philippines or any other location for that matter. All you have to do is fill out an online form at the Agent Portal for Western Union. If you pass the initial screening, a sales agent from the company will call you.
Should your business start a Western Union business?
Starting a Western Union business (and becoming an agent) makes sense for companies already offering other consumer services, but it is also a good solution for any company that wants to increase revenue and customers.
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.
Why become a Western Union agent?
Become an Agent and increase your revenue opportunities. Opportunity to increase your revenue and grow repeat business Gain new consumers by offering money orders, money transfer, and bill payment services Receive Western Union equipment and training for you and your employees
See more
Is Western Union profitable?
Westernunion.com revenue grew 27% on a reported basis and 26% constant currency, including cross-border revenue growth of 38%....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 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.
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.
What is the fee for Western Union?
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.
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
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.
How do you become an exchange agent?
Eligibility to obtain FFMC LicenseThe Entity that wishes to apply for a Full Fledged Money Changer License must be registered under the Companies Act of 2013.The Entity must have a minimum net-owned fund of INR 25 Lakhs in order to apply for a single-branch license and INR 50 Lakhs for a multiple-branch license.More items...
How much does it cost to send $100 through Western Union?
$14.00To 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. The maximum you can send in one day is $5,000, and the highest fee we've seen is $243.
How do I become a Western Union 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?
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 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.
What do I need to create Western Union account?
Registration is not required. Note: You must be at least 18 years old to send or receive money with Western Union....To Register for a profile, you will need:Your complete name as it appears on your government-issued ID.Your email address.Your mobile number.Your billing address.
What do I need to make an account in Western Union?
Please enter information as it appears on your government-issued ID.First name.Middle name (optional) Middle name (optional)Last name. Last name.
How much does it cost to send $100 Western Union?
$14.00To 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. The maximum you can send in one day is $5,000, and the highest fee we've seen is $243.
Do you need an account for Western Union?
Sending money with the Western Union money transfer service from an agent location does not require credit cards, debit cards, bank accounts, or memberships. You will need to show valid identification. Created with Sketch.
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 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.
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 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.
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.
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 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 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 to start a Western Union business?
Download and fill out Western Union's prequalification form to initiate the process of starting a Western Union business. This form requests necessary information, such as your name, company name, address, and any tax identification numbers.
Where to place Western Union ads?
In addition, place advertisements elsewhere, such as in newspapers and local magazines. Don't forget to advertise which Western Union services you offer (bill payments, money transfers, etc).
How long does it take to get a Western Union prequalification?
You will receive a notification of acceptance or rejection from Western Union in approximately 15 business days. If accepted, you will subsequently receive a Western Union agent number.
How many Western Union agents are there?
According to its website, Western Union has more than 340,000 agents and locations that accept payments from individuals to pay bills, people, and transfer money all across the globe.
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.
