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Western Union

Western Union

Western Union is an international system for express money transfers, which covers more than 200 countries and territories with more than 470 000 locations, offering the service. It is an undisputed leader, executing around 90% of the express money transfers worldwide.

 

The main purpose of Western Union is to serve the transfer of funds among individuals. The system is capable of transferring funds to any city in Bulgaria or in any other country, where an office of WU is established – in a maximum of 10 minutes. Western Union guarantees not only promptness, but also security – the transfer will reach the precise recipient, no matter where he/she may be, via the network established worldwide.

Different currencies are available for execution and payment of the transfers in each country. In Bulgaria those are: BGN and EUR.

 

For whom is this service intended?

  • Individuals working abroad, who are supporting their families;
  • People travelling abroad on business or who have found themselves in a difficult situation;
  • Students abroad;
  • Relatives or family abroad with financial needs.

The maximum permissible amount for a single transfer is USD 7 499.00 or the equivalent in EUR and BGN at the daily exchange rate of Western Union.

The charges for the money transfers are standard and paid by the sender only. The recipient will receive the full amount of the transfer sent.

Both when ordering and receiving of a transfer, a valid identity document must be presented (identity card, international passport or driver’s licence). Likewise, an individual must be at least 18 years old to be eligible to order and/or receive a transfer.

 

Why choose International Asset Bank AD?

Through the extensive branch network International Asset Bank AD and Western Union are executing the transfers:

  • Rapidly – just in a few minutes;
  • Easily – without formalities or need to open a bank account;
  • Reliably – as if you are receiving your money in person;
  • Regardless of the distance – anywhere in the world.

The ordering of money transfers is performed at the branches and offices of International Asset Bank AD.

  • You will be required to fill out a short form at the front office desk with the following information:
  • Your names, address and telephone number;
  • Country, where you wish to send the money to (incl. city and state for USA, Canada and Mexico);
  • The amount you wish to send;
  • The recipient’s names (in Latin characters).

The employee will print out a copy of the order, containing a 10-digit control number (MTCN), which you need to communicate to the recipient. Thereafter the recipient may withdraw the amount from each Western Union branch in the country, in which he is located.

After a money transfer has been ordered to you, go to a branch or office of International Asset Bank AD of your choice. In order to receive the transfer via Western Union you need to communicate to the employee the following information:

  • The control number of the transfer (MTCN);
  • The country, from which the transfer was ordered;
  • The transfer amount;
  • The sender’s names. 

The amount will be paid out to you in cash, in the currency of your choice – BGN or EUR.

Quick Pay is a service, enabling clients to order payments in favour of some companies, which have subscribed to this service and are included into the list of Western Union for Quick Pay. After registering the Quick Pay transaction in the system the recipient will receive within 15 minutes an e-mail notification from WU. The payment of the amount in favour of the beneficiary will be made to a bank account. It is not necessary that the sender contact the recipient to inform him about the initiated payment.


The maximum amount for a single transfer via Quick Pay is 5 000 USD or the equivalent in EUR and BGN at the daily exchange rate of Western Union.

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