Western Union vs Worldremit: Which is the best money transfer agency?
If you are looking to transfer money to any country using one of the popular money transfer agencies that are out there, the question of charges when sending the money will, no doubt, be on the front of your mind. We have previously reviewed both Western Union and Worldremit on this blog, which makes the comparison that we are making now easy. Here, in any case, is the Western Union vs World Remit head to head. Which, between the two, offers the cheapest money transfer rates?
|Transfer Amount||Transfer Fee Western Union||Transfer Fee Worldremit|
|USD 10||USD 0.99||USD 4.99|
|USD 50||USD 4.99||USD 4.99|
|USD 51||USD 12.00||USD 6.99|
|USD 100||USD 12.00||USD 6.99|
|USD 101||USD 15.00||USD 6.99|
|USD 151||USD 15.00||USD 9.99|
|USD 200||USD 15.00||USD 9.99|
|USD 201||USD 27.00||USD 11.99|
|USD 300||USD 27,00||USD 11.99|
|USD 301||USD 34.00||USD 16.99|
|USD 400||USD 34.00||USD 16.99|
|USD 401||USD 42.00||USD 16.99|
|USD 500||USD 42.00||USD 16.99|
|USD 501||USD 51.00||USD 19.99|
|USD 600||USD 51.00||USD 16.99|
|USD 601||USD 58.00||USD 34.99|
|USD 700||USD 58.00||USD 34.99|
|USD 701||USD 64.00||USD 34.99|
|USD 800||USD 64.00||USD 34.99|
|USD 801||USD 71.00||USD 34.99|
|USD 900||USD 71.00||USD 34.99|
|USD 901||USD 81.00||USD 34.99|
|USD 1000||USD 81.00||USD 34.99|
|USD 1001||USD 93.00||USD 44.99|
|USD 1250||USD 93.00||USD 44.99|
|USD 1251||USD 102.00||USD 44.99|
|USD 1500||USD 102.00||USD 44.99|
|USD 1501||USD 113.00||USD 44.99|
|USD 1800||USD 113.00||USD 44.99|
|USD 1801||USD 124.00||USD 44.99|
|USD 2000||USD 124.00||USD 44.99|
|USD 2001||USD 135.00||USD 25.00|
|USD 2500||USD 135.00||USD 25.00|
|USD 2501||USD 145.00||USD 25.00|
|USD 3000||USD 145.00||USD 25.00|
Cheapest Money Transfer Rates Explained
There are several things that the table above reveal. So, which is the cheapest, when it comes to making money transfers to Africa from the diaspora?
- Worldremit vs Western Union: Worldremit is the cheapest
As you can see in the above Western Union vs Worldremit comparison, Worldremit, by far, wins the battle. In fact, Worldremit is one of the cheapest ways through which you can send money to Zimbabwe from the diaspora. Indeed Worldremit tends to be the Cheapest Money Transfer agency when sending money to any part of the world.
- Western Union is cheaper for amounts that are below $10
If, for some reason, you have decided to send less than $10 to your relatives, then Western Union is the obvious choice. For amounts that are below $10, Western Union charges only $0.99. Compare that with Worldremit’s $4.99, and you have a clear winner. However, its not likely that anyone out there is going to be sending that little back home.
- From $10 to $50, Worldremit and Western Union charge the same.
For amounts that range from anything above $10 to $50, the Worldremit vs Western Union comparison for sending money from the United States draws a tie. Both companies charge $4.99.
- Worldremit has the Cheapest Money Transfer rates
From here onwards, it becomes clear that World remit offers the Cheapest Money Transfer rates when sending money to Zimbabwe or anywhere else in the world. A comparison of Western Union and Worldremit shows that from amounts between $51 and $150, Worldremit charges $6.99. Western Union, on the other hand, charges $12 when transferring anything from $51 up to $100. Between $100 and $200, Western Union will charge you $15.
- Popular transfer amounts
Now, to further show that Worldremit is the cheapest money transfer agency when compared to Western Union, let us look at the most popular transfer amounts.
- To send $200 to your relatives back home, you will need a transfer fee of $15 for Western Union and $9.99 for Worldremit.
- For transfers of $500, you will need a transfer fee of $42 for Western Union and $16.99 for Worldremit.
- For a transfer of $1000, Western Union will charge you $81, while Worldremit will charge you only $34. It’s clear, therefore, that Worldremit is the Cheapest Money Transfer agency.
- For $1500, World remit will charge you $44, while Western Union will charge a transfer fee of $102.
- When sending $2000, you will need $124 when sending money using Western Union, and $44 when using Worldremit.
- For anything above $2000, Worldremit’s price falls to $25, while Western Union will charge you $145 for amounts between $2500 and $3000.
World Remit is the Cheapest Money Transfer
It’s clear, therefore, that Worldremit is the cheapest money transfer agency when compared to Western Union. There are, however, other factors that you need to consider when choosing a money transfer agency. One of these is the availability of agents for the agency that you have chosen. Western Union, as an example, has thousands of agents across the globe. This is what makes it the most popular money transfer company that can be found out there. There is also the issue of time before collection.
It has to be said, however, that depending on how you are sending your money, both Western Union and Worldremit offer instant collections. When transferring money to Zimbabwe, another thing that you need to consider is whether or not your relatives will be able to get cash. We do have to say that, as we have previously mentioned, cash USDs are still available in Zimbabwe for both Western Union and Worldremit.