Do Not Use Western Union

Linora Low — Thu, 18 Sep 2008 07:25:14 +0000

Here’s another thing I would like to share. See a few months back I purchased a few phones from Singapore because they were apparently cheaper by a mile compared to the prices you can get at low yat. What happened was this. I purcashed all the phones for say round S$1650 and i wanted to make the payment to the other party via Maybank2u Telegraphic Transfer, which is safe, fast and trustworthy. But my counterpart wanted it done via Western Union because it is fast – like on the day the sender does the transaction the receiver will get it in day. Now for countries like Singapore, Britain.. basically any other currency that has a better foreign exchange rate than your country, the service transaction to send money to that country is higher. Hence, where they say it is cheaper and better to use Western Union is soooo lying!! I had a wonderful surprise where I had to send about RM4000 which is the exact amount i need to pay for the phones. Little did i know.. this does not INCLUDE the service transaction..which is RM250. Meaning i had to pay RM4250… no way! Yeah Western Union is cheaper, faster, and more secure if you are sending from a country with a stronger dollar then yours. Arrghhh so which means i had to spend more on the service transaction… Whatever it is I’ve learnt my lesson, I’m sticking with Maybank which in my opinion is still a lot cheaper. The transaction fee is around RM10 and should be either one day to three working days. Blehhhhhhh. See!

Bank fee: There is a RM10 (ten ringgit) fee for Foreign TT transactions to all countries, including Singapore. This fee is not refundable. - Maybank

So as long as I’m in Malaysia, I’m not using Western Union. Even if it is fast, it robs me of more money. So I’m sticking with Maybank.

Yeah it may sound unfair, but I’ve never used Western Union and to receive sucha big shock on the transaction fees when someone keeps praising it.. Just didn’t do it for me.

Linora Low » online banking

Do Not Use Western Union