We compare the well-known Western Union with Ria, a growing international money transfer service that could save you money.
Western Union is perhaps the most well-known international money transfer service, but newer companies like Ria offer 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.
The fees and rates used in this comparison are accurate as of 9 January 2019.
Quick verdict
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
Which has lower fees?
Western Union
Western Union's fees vary depending on how much you're transferring, how you're sending it and where you're sending it to. Most transfer fees start at $5, but they can skyrocket up to $45 or more if you're paying by credit or debit card or for cash pickup in certain countries.
While the fee is different for each currency, here's an example of what a $500 transfer to a cash pick-up location would look like:
- To India: $9 ($15 if you pay by card)
- To Mexico: $7 ($35 if you pay by card)
Ria
The fees with Ria also change from currency to currency. The cheapest way to send money is through a bank transfer, with credit cards racking up higher fees. Here is what the same $500 transfer at Ria would look like:
- To India: $5 ($9 if you pay by card)
- To Mexico: $4 ($18 if you pay by card)
Winner: Ria
Although both have higher fees if you pay by card, 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 | $15 | $18 |
| Exchange rate | AUD$1 = NZD$1.0244 | AUD$1 = NZD$1.0352 |
| Transfer speed | Instant | Instant |
| Total dollars received | NZD$307.33 | NZD$310.56 |
| Receiver gets | NZD$3.23 less | NZD$3.23 more |
Sending $4,000 to New Zealand
| Western Union | Ria | |
|---|---|---|
| Transfer fee | $30 | $18 |
| Exchange rate | AUD$1 = NZD$1.0244 | AUD$1 = NZD$1.0352 |
| Transfer speed | Instant | Instant |
| Total dollars received | NZD$4,097.77 | NZD$4,140.80 |
| Receiver gets | NZD$43.03 less | NZD$43.03 more |
For both of these transfers, you end up with more money at the end with Ria. Ria's fee may be more for the smaller $300 transfer, 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 = SGD$0.97
- Western Union's exchange rate: AUD$1 = SGD$0.935
This is a margin of 3.59%.
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 = SGD$0.97
- Ria's exchange rate: AUD$1 = SGD$0.944
This ends up being a margin of 2.71%.
Winner: Ria
Ria tends to add a smaller margin to the mid-market rate than Western Union, making it a better choice for fairer exchange rates. This means that your recipient will end up getting more money with Ria's exchange rates than with Western Union's.
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, the exchange typically takes 15 minutes or less. 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, credit card, debit card, cash | Bank account, cash pick-up location | Minimum: $1 Maximum: $5,000 |
Same day | 95+ currencies |
| Ria | Bank transfer, credit card, debit card, cash | Bank account, cash pick-up, door delivery | Minimum: $2 Maximum: $4,999 |
1 - 2 days | 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 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.
Bottom line
Western Union and Ria offer similar options, but you end up saving more money with Ria's lower fees and lower exchange rates.
Looking for more options?
Check out what fees and exchange rates some other money transfer services are offering with our calculator below.
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
