Western Union vs Moneycorp

Compare two established money transfer providers on cost, features and efficiency.

Updated Oct 19, 2020

Fact checked

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Western Union has been around for more than a century through its 500,000 agent locations worldwide. Started in 1962, Moneycorp is a major player with a presence in 150 countries.

Neither Western Union nor Moneycorp is necessarily the cheapest or fastest option out there, but they are certainly amongst the most visible and credible. We compare the two to help you decide between them.

The fees and rates used in this comparison are current as of 8 March 2019

Quick verdict

Lower fees:
Tie

Exchange rates:
Moneycorp

Fast transfers:
Moneycorp

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	AUD 1	Same day	AUD 20.00	0.727	USD 712	Western Union sends money online to friends and family in 200+ countries around the world.		Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Phone, Agent, Bank Account to Bank Account, Cash Transfer, International Money Order Transfer options One off payments Customer service Phone, Email Available currencies AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, IRR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LTL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SRD, STD, SVC, SYP, SZL, THB, TMT, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW, LVL Read the full review
	GBP 50	1 - 2 days	AUD 0.00	0.75	USD 750	The longest standing and largest full service specialist currency provider in the UK.		Compare	Show details	Details Minimum transfer amount GBP 50.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email, Branch Available currencies AED, AUD, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, INR, JOD, JPY, KES, MAD, MXN, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, THB, TND, TRY, USD, ZAR Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Which has lower fees?

Western Union

Figuring out how much you'll pay to transfer money internationally can be muddied. Although most fees start at $4, they can be quite high when paying by credit or debit card for cash pick-up in certain countries.

Moneycorp

For one-off transfers with Moneycorp, the transaction fee you are charged varies depending on the speed of your transfer. As a British company, its fees are denominated in British pounds and so will vary depending on exchange rates.

A standard payment attracts a fee of £5 while an express payment costs £9. Transfers booked over the phone are sent express and incur a fee of £15.

Trophy icon
Winner: Tie

For larger international transfers you may find the fees skyrocket with Western Union. But for smaller transfers, the flat Moneycorp fees might make it less cost-effective.

Let's crunch the numbers: Sending $1,000 and $5,000 to the United States

The tables below show the total cost of sending $1,000 and $5,000 from Australia to the United States, so you can see how much real transfers could cost with each.

Sending $1,000 to the United States

	Western Union	Moneycorp
Transfer fee	$9	$9.20
Exchange rate	1 AUD = 0.6721	1 AUD = 0.7007
Transfer speed	Within minutes	Up to 4 days
Total USD received	US$666	US$694.25
Receiver gets	US$28.25 less	US$28.25 more

Sending $5,000 to the United States

	Western Union	Moneycorp
Transfer fee	$30	$9.20
Exchange rate	1 AUD = 0.6721	1 AUD = 0.7007
Transfer speed	Within minutes	Up to 4 days
Total USD received	US$1,996.10	US$2,096.20
Receiver gets	US$100.10 less	US$100.10 more

MoneyCorp gives better value for money on both transfers. It charges slightly higher fees for a $1,000 transfer, but this is compensated for by more favourable exchange rates.

The difference grows on larger transfers. Moneycorp fees remain the same while Western Union's grow, and Moneycorp's better exchange rates make a bigger difference.

Which offers better exchange rates?

Western Union

Depending on the country you're sending money to, a typical exchange rate at Western Union could be up to 6% above the mid-market rate. If you're sending a large amount overseas, this means hundreds of dollars that goes straight into Western Union's coffers.

We'll use the example of a transfer to euros (EUR):

If the mid-market rate is 1 AUD = 0.63 EUR
Western Union's exchange rate might be 1 AUD = 0.56 EUR

Moneycorp

MoneyCorp's exchange rates fluctuate regularly in line with market exchange rates throughout the week. However, as there is no trading on foreign exchange markets from 10pm Friday to 8pm Sunday GMT, the rates offered by Moneycorp will not fluctuate during this time.

The exchange rate you receive for your transaction will be determined by the amount and the currencies you're sending, but will typically be 1-2% above the mid-market rates.

If the mid-market rate is 1 AUD = 0.63 EUR
Moneycorp's exchange rate might be 1 AUD = 0.617 EUR

Trophy icon
Winner: Moneycorp

Moneycorp has a vast amount of transfer options, as well as a personal account manager, which means you will have someone to help you get the best rates possible.

However, Moneycorp uses GBP as its intermediary currency, meaning transfers sent through it to any other currency will have to be converted twice, incurring additional expenses.

Which is faster?

Western Union

Delivery speeds vary with transfer options. At an agent location or by phone, your transfer could be delivered in minutes (at higher costs). Your cheapest options could take five days or longer, depending on the country.

Moneycorp

Delivery speed with Moneycorp also varies by transfer option: the "express" transfers are delivered in 0-2 days (with higher costs); the "standard" option takes 2-4 business days.

Trophy icon
Winner: Moneycorp

With Moneycorp you know what you're getting, based on the service you pay for. There aren't any variable factors or fees, like with Western Union.

General features

	Payment methods	Receiving options	Minimum and maximum transfers	Transfer speeds	Currencies
Western Union	Bank account, credit or debit card, cash	Bank transfer, cash pick-up, e-wallet	Minimum: $1 Maximum: $50,000	Same day	100+ currencies
Moneycorp	Bank account, credit or debit card	Bank transfer	Minimum: $50 Maximum: No limit	1 - 2 days	35+ currencies

Western Union

You can walk into a Western Union branch, create an account to send money online or call Western Union on the phone to set up a transfer, and choose your options.

Once you've made a deposit, Western Union will initiate your transfer.

Moneycorp

You'll have to create an account at Moneycorp and then verify your identity by providing documentation such as driver's licence or passport.

Once that's done you can initiate a transfer online or over the phone.

Learn more: Western Union
Learn more: Moneycorp

Bottom line

While Western Union is the behemoth in terms of international money transfers, you may get a stronger exchange rate with Moneycorp, which is especially important for larger transfers.

However, if it's more important that your friends or family be able to pick up your money in cash, Western Union's 500,000 agent locations worldwide is what you are after.

These two services aside, you could do better with another money transfer specialist. Compare your options to find a provider that's perfect for your situation.

Looking for more options?

If you're looking for more options, or hunting for a better deal, the calculator below can help you work out how much a transfer will cost with different providers to different locations.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
GBP 0	1 - 2 days	AUD 0.00	0.747	USD 7,474	Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 0.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments Customer service Chat, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KZT, LAK, LBP, LKR, MAD, MDL, MGA, MKD, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VND, VUV, WST, XAF, XCD, XOF, XPF, ZAR, ZMW Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.75	USD 7,496	TorFX guarantees to match any competitor's exchange rate. Conditions apply. TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.75	USD 7,496	Better exchange rates for Finder customers. WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CLP, CNY, COP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, LKR, MAD, MUR, MXN, MYR, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, TZS, UGX, USD, VND, XCD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.75	USD 7,496	Send guarantees to match any competitor’s exchange rate. T&Cs apply. Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KWD, MXN, MYR, NOK, NZD, OMR, PHP, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 250	1 - 2 days	AUD 0.00	0.75	USD 7,496	$0 transfer fees for Finder customers. OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
AUD 1	1 day	N/A	N/A	N/A	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, EUR, GBP Go to site Read the full review
AUD 1	1 day	AUD 52.00	0.749	USD 7,450	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, CAD, CNY, EUR, GBP, HKD, IDR, INR, JPY, KRW, LKR, MYR, NPR, NZD, PHP, SGD, THB, USD, VND, ZAR Go to site Read the full review
AUD 10	Within an hour	AUD 2.99	0.744	USD 7,441	Special offers like free transfers and better exchange rates available for new customers. Remitly has quick, affordable transfers around the world, with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, AUD, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
AUD 1	Same day	AUD 0.00	0.749	USD 7,489	XE has fast transfers with low fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments, Market orders Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BSD, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
AUD 200	1 - 2 days	AUD 50.00	0.752	USD 7,482	New customers sending over AUD 500 from Australia use code FINDER50 to get AUD 50 off. Valid till 30th June 2021. T&Cs apply. InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 200.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
AUD 1	Same day	AUD 3.99	0.744	USD 7,433	Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review
AUD 1	1 - 2 days	AUD 45.00	0.75	USD 7,462	Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Thank you for your feedback!

Andrew Munro

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Andrew Munro is the cryptocurrency editor at Finder. He was initially writing about insurance, when he accidentally fell in love with digital currency and distributed ledger technology (aka “the blockchain”). Andrew has a Bachelor of Arts from the University of New South Wales, and has written guides about everything from industrial pigments to cosmetic surgery.

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Azimo International Money Transfers

Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

More info

TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

More info

WorldFirst International Money Transfers

Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.

More info

Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.

More info

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Western Union vs Moneycorp

Compare two established money transfer providers on cost, features and efficiency.

Quick verdict

Compare up to 4 providers

Which has lower fees?

Western Union

Moneycorp

Let's crunch the numbers: Sending $1,000 and $5,000 to the United States

Which offers better exchange rates?

Western Union

Moneycorp

What's the mid-market rate?

Which is faster?

Western Union

Moneycorp

General features

Western Union

Moneycorp

Bottom line

Looking for more options?

Compare up to 4 providers

Andrew Munro

More guides on Finder

International Money Transfer Offers

Azimo International Money Transfers

TorFX International Money Transfers

WorldFirst International Money Transfers

Send International Money Transfers

Ask an Expert

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