View Full Version : Bank Transfer vs. Western Union
4th February 2005, 03:33 AM
Just need advice which between the two is the easiest and cost effective method of money transfer.
4th February 2005, 08:40 AM
I prefer Western Union mainly because its easier and quicker.
With banks, they wire the money to the bank in question. It is re-routed to New York and then stays there a few days (5 working days) before it gets clearing. Then when it is cleared, it goes to the respective bank, which then needs to get clearence from the head office of the bank.
But it depends on where you are sending it to.
The process took me like 2 weeks with a bank transfer. It only took 8-10 days for Western Union.
4th February 2005, 01:49 PM
I never had money take more than 3 days, and usually as little as 24 hours to reach when sent by telegraph transfer from the bank.
4th February 2005, 09:46 PM
My dad sent some mone via Western Union a year ago while I was in the States, and it took that long. I don't know why. Maybe because of the weekends thing?
4th February 2005, 10:47 PM
TL, bank telegraph transfers usually take between 24 hours and 3 business days. Western Union is usually the fastest way to send money. It's almost instant. But it costs more because they charge according to the amount. The more you send, the more you pay. But the advantage is the person you're sending money to can go immediately to the nearest Western Union office and get his money. Unlike bank transfers that have to go into their bank account.
5th February 2005, 07:51 PM
Looks like I would stick to Western Union. 3-10 days thats would be to much to wait.
5th February 2005, 08:30 PM
I dunno Muscati, I was on the receiving end, and its quite possible that my memory is abit rusty or my dad didn't get round to sending it on the actual date itself? Who knows <img src="http://www.omanforum.com/threads/images/graemlins/smile.gif" alt="" />
5th February 2005, 08:58 PM
From my experince, after 9/11 money transfer to US, normally take little longer may be due to the fact of long screening process for security reason otherwise 5 working days is the standard.
5th February 2005, 10:16 PM
It actually could be the case Smile. I really don't knwo why there was a delay.
Maybe because it was a bigger amount?
8th February 2005, 07:54 AM
The main difference is the security Western Union is less secured someone able to get ur password and manages to forge ur ID ur money is gone!!
Bank its kinda more secured
18th February 2005, 11:56 PM
Bank Muscat & Oman International Exchange offer the same serivce through MoneyGram, which is cheaper the Westren Union, the money gets anywhere you want in 15 min.
19th February 2005, 01:52 AM
Che u are right that what my dad and mom use tranfereing money to my sisters..its faster,,,
19th February 2005, 09:24 AM
When my father transfers money for me, it is done through bank muscat. A charge of 8-12 pound is taken. It is a fast way, but i guess western union is faster. I never faced any problems with the bank transfer.
19th February 2005, 07:42 PM
Can you please elaborate more about MoneyGram
20th February 2005, 01:13 AM
<a href="http://www.moneygram.com" target="_blank">www.moneygram.com</a>
9th March 2005, 10:26 PM
Smile, Western Union is much faster than bank transfer, but is more costly. Wire transfer should not take much long. For instance, when I used to get some amount from Oman to USA through it, I get it within 2-3 business days.
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