Western Union is a well-known, established money transfer service with an extensive network across the globe. Meanwhile, Ria is a relative newcomer to the market but offers competitive rates to save you money. We compare what the two look like next to each other in terms of delivery speed, fees and exchange rates.
Western Union and Ria work in similar ways. They both offer diverse money transfer options including bank transfers and sending money for cash pickup. Western Union is the more established of the two, so can offer an extensive network and fast delivery speeds. But Ria is not far behind, with agent locations in over 165 countries.
The fees and rates used in this comparison are accurate as of 26 April 2022.
Western Union's fees vary depending on how much you're transferring, how you're sending it and where you're sending it to. Agent location fees aren't typically posted online, but Western Union's online fees are different for nearly every country it sends to. You can use its "Price Estimator" tool on its website to check the exchange rate and fee for your specific transaction.
Ria
For new customers, transfers are fee-free. If you are already a customer, Ria charges a flat $2.89 fee for online transfers to any country, any amount. However, keep in mind that fees vary between online and agent locations.
Winner: Ria
With its flat transfer fee for any country, Ria's fees are generally cheaper across the board.
Let's crunch the numbers: Sending $300 and $4,000 to New Zealand
Let's look at an example to put this into context better. We're going to go through what two different transfers look like with Ria and Western Union. In this scenario, we're going to pay with a credit card (which means higher fees than with a bank transfer), and we're going to send the money to a cash pick-up location.
Keep in mind that other currencies will have different fees and transfer times.
Sending $300 to New Zealand
Western Union
Ria
Transfer fee
$0
$2.89
Exchange rate
AUD$1 = NZD$1.0651
AUD$1 = NZD$1.07
Transfer speed
Instant
Instant
Total dollars received
NZD$319.53
NZD$321.03
Receiver gets
NZD$1.50 less
NZD$1.50 more
Sending $4,000 to New Zealand
Western Union
Ria
Transfer fee
$0
$2.89
Exchange rate
AUD$1 = NZD$1.0760
AUD$1 = NZD$1.08
Transfer speed
Instant
Instant
Total dollars received
NZD$4,303.83
NZD$4,326.10
Receiver gets
NZD$22.27 less
NZD$22.27 more
For both of these transfers, you end up with more money at the end with Ria. Ria's fee may be higher, but the better exchange rate makes up for this in the end.
Which offers better exchange rates?
Western Union
Depending on the country you're sending money to, a typical exchange rate at Western Union can be up to 6% above the mid-market rate. This means that if you're sending a large amount overseas, you're losing out on hundreds of dollars.
For example:
Mid-market rate: AUD$1 = PHP37.56
Western Union's exchange rate: AUD$1 = PHP37.4726
This is a margin of 0.23%.
Ria
Ria also adds a margin to the exchange rate, ranging between 0.3% and 4%. The same example of sending money to Singapore looks like this:
Mid-market rate: AUD$1 = PHP37.56
Ria's exchange rate: AUD$1 = PHP37.41
This is a margin of 0.39%.
The mid-market rate is the one you can see on Google or Xe. The banks use this to trade between themselves and although there are some money transfer services that offer you this rate, it's rare. Most will add a margin onto the top, making the rate you see on Google and the rate you're quoted different.
Winner: Tie
It depends on which currency you are sending as to what exchange rate markup you can expect. In our example above, both providers are pretty evenly matched.
Which is faster?
Western Union
Western Union's delivery speeds vary, depending on your 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.
Ria
Ria's transfer speeds also depend on how you want to send the money. When you use your credit or debit card, or pay by PayID, your money should arrive in real-time. Cheaper transfers from your bank account can take up to four days.
Winner: Tie
Both Ria and Western Union offer an instant transfer option as well as a slower, cheaper option.
General features
Payment methods
Receiving options
Minimum and maximum transfers
Transfer speeds
Currencies
Western Union
Bank transfer
Cash
Credit card
Debit card
Bank account
Cash pickup location
Minimum: $1
Maximum: $50,000
Within minutes
138 currencies
Ria
Bank transfer
Credit card
Debit card
PayID
Bank account
Cash pickup location
Home delivery
Minimum: $1
Maximum: $20,000
Within minutes
95 currencies
Western Union
To transfer money online with Western Union, visit its site, enter the amount you're transferring and to where, and then confirm how much you need to pay for the exchange. Once complete, Western Union converts and delivers your money to a bank account, mobile wallet or for cash pickup at locations worldwide.
Ria
To transfer money online with Ria, go to its site, enter the amount you'd like to transfer and to which country, and choose your payment and payout methods. On the same page, you'll see the exchange rate and transfer fee for your particular exchange.
Is Ria better than Western Union?
Western Union and Ria are pretty evenly matched, but you typically end up saving money with Ria's flat transfer fee and lower exchange rates.
Rosie Russell is a money transfers producer at Finder. She is on a mission to make personal finance easier to understand. Rosie has a Bachelor of Communication (Journalism) and Bachelor of Arts in International Studies from the University of Technology Sydney.
What are the best options for sending or receiving a large amount of money overseas? Read this $50,000 case study with exchange rates and fees comparison.
Send an international money transfer to someone without a bank account. Get it there instantly and they can pick it up in person, in cash. Get quotes now.
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