Western Union money transfer

[hairyscotsman]

Today I successfully withdrew $950 in Dollars after transferring $1,000 from my bank in NYC to my Banco Credicoop account in Mendoza. (I do have a DNI) It was a tricky process as the people in Mendoza doubted that it was possible but the folks in BA's were the ones to make it happen. The fees were 2,500 Pesos and 10 Dollars, there was a lot of back and forth for me to understand the process as my Spanish sucks and there were schedules to meet. I had to move/declare that I wanted the money in dollars within 5 days and had to send Banco Credicoop my notice from Chase Bank that I sent the money from "my name" to "my name" in addition I had to categorize what the money was for from a list that I guess the Government supplies. I was Codigo A07 which means personal expenses. The people in BA's were great and responsive and walked me through it. Needless to say that is a game changer, it was the first time so I don't know how much I can transfer per month etc...

Would it not just be easier to go into local WU and pick up the cash? Seems like a lot of hassle bank to bank .

 

[dsp27]

Would it not just be easier to go into local WU and pick up the cash? Seems like a lot of hassle bank to bank .

My experience had been different. Yes the first time might be clunky but after it’s so easy. You can transfer money using your phone and get it in less than 24hs in your account. No need to go to a location, wait in line or hope they have the cash. And no covid.

 

[artisans]

Would it not just be easier to go into local WU and pick up the cash? Seems like a lot of hassle bank to bank .

When I started the story of this transfer it explained that trying bank to bank was an experiment. I was all ready successfully receiving transfers
by the debit card to bank account method. So trying here to leave bread crumbs of what to expect for someone else curious about bank to bank transfers. As dsp27 advises it gets easier and you do avoid all the pitfalls that can come, expecially during covid, with the picking up cash method. During 'normal' times picking up the cash is easy enough, unless you get hooked on just following the WU tracking information and then checking your bank account to see at the touch of a button that the transfer has arrived and deposited in your peso account.

 

[gonzalob54]

No. I do think there was a "verification" by clicking on a link and signing in to my bank logon page with my bank. That's it.

Gosh, don't you take a big risk giving someone complete control of your bank acct giving out username and password?

 

[jblaze5779]

Which risk is more real? Western Union abusing your bank about information or two chicos on a motorcycle robbing you as you walk out of the money pickup spot?

 

[dsp27]

Gosh, don't you take a big risk giving someone complete control of your bank acct giving out username and password?

Anyone? Yes. WU via an authorized verification service, no. You are not giving "complete control" to anyone at any stage.Let's assume they "take control" what are they gonna do wire the money out? There's a two-level verification, I receive both an email and a text massage to verify. When I call my bank they even have voice verification AND ask me questions like employer, SSN, address, etc.
It's the same service account aggregation services like MINT use. If you are so paranoid, change your password right after you verify the account, problem solved. The system needs to verify just once.

 

[artisans]

My experience had been different. Yes the first time might be clunky but after it’s so easy. You can transfer money using your phone and get it in less than 24hs in your account. No need to go to a location, wait in line or hope they have the cash. And no covid.

"Clunky" would be gross understatement at least in my case. The transfer did arrive my account, while WU running a trace and my local banking rep contacting Comex to check, at the end of the day, yesterday. I may test it again with a small transfer to see if in fact it gets easier. The debit card to bank account method improved after the first transfer, maybe this method will also.

 

[Stantucker]

My experience had been different. Yes the first time might be clunky but after it’s so easy. You can transfer money using your phone and get it in less than 24hs in your account. No need to go to a location, wait in line or hope they have the cash. And no covid.

My experience has been exactly the same as yours. Same day service often, and at most next day. Takes just minutes from my phone.

 

[BANY]

Thanks Dsp27 for recommending the Itau account. We signed up today and 4 hours later got the confirmation from them that the account was opened. I have some very basic questions if you could all help me out to make my first WU transfer. I (under my friends name) will be sending from the U.S. via a debit card to my wifes new bank account.
1. My friend will create a new WU account, will there be any Drivers License or any type of ID required to upload or write down? Besides name and email is there any other information required to set up the account?
2. After the account is set-up, besides all the debit card info is there any additional info required from the sender?
3. What exact info is required from the receiving party?
4. It will be $1000 initially, will Itau require or ask for anything at all?

Thanks everyone for clearing this up, and please let me know if there is anything else you think its important to know. Im sure it will also help alot of people in the future.

 

[dsp27]

Thanks Dsp27 for recommending the Itau account. We signed up today and 4 hours later got the confirmation from them that the account was opened. I have some very basic questions if you could all help me out to make my first WU transfer. I (under my friends name) will be sending from the U.S. via a debit card to my wifes new bank account.
1. My friend will create a new WU account, will there be any Drivers License or any type of ID required to upload or write down? Besides name and email is there any other information required to set up the account?
2. After the account is set-up, besides all the debit card info is there any additional info required from the sender?
3. What exact info is required from the receiving party?
4. It will be $1000 initially, will Itau require or ask for anything at all?

Thanks everyone for clearing this up, and please let me know if there is anything else you think its important to know. Im sure it will also help alot of people in the future.

Send less the first time. Start with say 300. When you set up the receiver details in WU make sure you set up citizenship as Argentina for the receiver account — even if they are not. You should not need to do any other verification.