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Author Topic: Western Union DEAD in the Water !!!  (Read 4857 times)
PolkRB
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January 12, 2014, 08:19:09 PM
 #21

Bitcoin is a Western Union killer.

Sounds good to me Smiley
markjamrobin
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January 12, 2014, 08:21:17 PM
 #22

The unintelligent of the world, will still use WU, until someone can use create an idiot-proof way of transporting currency in BTC. WU could send BTC overseas for less than USD, but they would likely charge the same fees anyhow.

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January 12, 2014, 08:28:04 PM
 #23

The other day at the grocery store I stood next to a gentleman from Egypt that wanted to WU $200 to his family back home for Xmas.

The total cost was $256.

This is another reason they will be dead once these customers figure out they can do it with bitcoin faster and easier.

Plus you and the receiving party have to physically travel to the WU offices to send money....bitcoin you can do it from the privacy of your own home.

What if his family back home didn't have a computer?
When i involved in Bitcoin World I also didn't have any computer and Android or Apple Phone but still i could use it, Its not compulsary i need a computer to hold my bitcoins or to transfer my bitcoins.

BombaUcigasa
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January 12, 2014, 10:57:37 PM
 #24

The other day at the grocery store I stood next to a gentleman from Egypt that wanted to WU $200 to his family back home for Xmas.

The total cost was $256.

This is another reason they will be dead once these customers figure out they can do it with bitcoin faster and easier.

Plus you and the receiving party have to physically travel to the WU offices to send money....bitcoin you can do it from the privacy of your own home.

What if his family back home didn't have a computer?
Open localbitcoins trade, proceed with face2face handoff or bank transfer, send bitcoins remotely and directly to the initiated transaction escrow. "Family back home" doesn't need a computer to receive the paper money.
xinzark
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January 12, 2014, 11:24:20 PM
 #25

WU is the worst they are charging super high fees which make you unprofit from your business
Inkvor
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January 12, 2014, 11:29:52 PM
 #26

i used WU before and really hate the fees
CMMPro
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January 13, 2014, 12:23:43 AM
 #27

Funny responses here....I didn't even think that was weird about Xmas and the predominantly Muslim population in Egypt.

My big point was that the fee's were shocking...$56 to send $200? Holy Shit that's a lot.

I would also think in Egypt that many people have a computer, it isn't exactly the stone ages there.
Internet penetration is about 36% there as of 2011...I found no newer data.  (That is about half of the US stats.)

Kungfucheez
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January 13, 2014, 12:47:24 AM
 #28

Funny responses here....I didn't even think that was weird about Xmas and the predominantly Muslim population in Egypt.

My big point was that the fee's were shocking...$56 to send $200? Holy Shit that's a lot.

I would also think in Egypt that many people have a computer, it isn't exactly the stone ages there.
Internet penetration is about 36% there as of 2011...I found no newer data.  (That is about half of the US stats.)



Well, you should already know why the fee is so high. And If I remember, the Internet penetration of Egypt is actually 44% or about 36 million people. Compared to the US which is at 81%, or about 250 Million people. And I still know people who don't use a computer or a smart phone regularly here in the States....

I'm not implying it's the Stone Age there, not at all. Just saying, not everyone uses computers
Dafar
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January 13, 2014, 01:17:52 AM
 #29

According to Andreas WU is a crook company that takes around $74billion/year from charities and they charge higher fees to transfer money to poorer countries.  Cool




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tinus42
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January 13, 2014, 01:19:49 AM
 #30

Western Union is going the way of the Pony Express.
p2pbucks
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January 13, 2014, 02:10:44 AM
 #31

not only WU ,so does VISA MASTERCARD & damn Paypal  Angry
PolkRB
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January 13, 2014, 03:00:29 AM
 #32

not only WU ,so does VISA MASTERCARD & damn Paypal  Angry

Paypal has a chance to become a wallet and exchange company for BTC
Bitcoinpro (OP)
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January 13, 2014, 03:04:46 AM
 #33

Western Union is going the way of the Pony Express.

that sounds like an interesting story

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empoweoqwj
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January 13, 2014, 03:10:36 AM
 #34

Funny responses here....I didn't even think that was weird about Xmas and the predominantly Muslim population in Egypt.

My big point was that the fee's were shocking...$56 to send $200? Holy Shit that's a lot.

I would also think in Egypt that many people have a computer, it isn't exactly the stone ages there.
Internet penetration is about 36% there as of 2011...I found no newer data.  (That is about half of the US stats.)



Western Union fees are indeed shocking. The fact they've gotten away for it so long shows there has been no competition. Thank the Satoshi Nakamoto there is now Smiley
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February 10, 2014, 06:39:19 AM
 #35

The other day at the grocery store I stood next to a gentleman from Egypt that wanted to WU $200 to his family back home for Xmas.

Funny you say that. In Egypt they don't celebrate Xmas. *cough*muslims*cough*


20% of Egypt's population are Christians *cough* ignorant americans* cough*
A simple google search could tell you that *cough* ignorant americans* cough*
Egypt is in Africa, not the middle east *cough* ignorant americans* cough*
A world atlas costs $0,99 at walmart *cough* cheap people... *cough*
Christmas is not even a Christian holiday. It was the Roman pagan festival called Saturnalia, early christians adopted it to convert more pagans. Bible's Christ was not even born in December *cough* ignorant americans* cough*

A google search also reveals that it costs maximum $10 to WU $200 to Egypt as of now.
Wilikon
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February 10, 2014, 07:24:16 AM
 #36

Does Bitcoin require this much Western Union documentation before sending ?

Western Union continually monitors the use of its systems to understand its customers’ usage.

We have received your communication and require additional information in order process your request.
 
In order for us to review your information please complete the Consumer Questionnaire Form below, please complete each section or it could delay your review. Then attach any additional documents, and return the completed Questionnaire to wukycreview@westernunion.com. Upon receipt of the completed Questionnaire and documents, we will review your information along with your transaction history. The review process takes between 10-14 business days. Upon completion of the review, we will inform you of our conclusion.

 
Please provide documents to support your use of Western Union Money Transfer Services.  Below are examples of various documents that you may consider providing, however any other relevant documentation to support the purpose of your transactions would be useful:
 
•           Business License or other business related documentation
•           Tax identification information
•           Business registration information or permits
•           Invoices
•           Property Title or other property evidence
•           Loan Statement
•           Mortgage Statement
•           Receipts for goods or services purchased
•           Medical bills or certificates
•           Not for Profit documents (501C3 License, etc.)
•           Letter of Explanation (For example, a letter on company letterhead explaining your
position in the organization and why you are sending on their behalf)
 
Customer Questionnaire
Date:

 

I. Please provide your information:

Full Name:

 

Address:

 

Phone #:

 

Date of Birth:

 

Occupation:

 

 

 

Recent MTCN:
 
 
 

 

II. Please provide the following information for the people that you have sent to or received from over the past 6 months:

 
Name

How do you know this person? (Relationship)

What was the money used for?
(Purpose)

Have you met him/her in person? Y/N

1

 

 

 

 

2

 

 

 

 

3

 

 

 

 

4

 

 

 

 

5

 

 

 

 

6

 

 

 

 

7

 

 

 

 

8

 

 

 

 

9

 

 

 

 

10

 

 

 

 

 
 
III. What is your primary source of funds?    
(Examples: Job Income, Retirement/Pension, Family/Friends, Trust Fund/Inheritance, etc.)
 
IV. Third Party Details
Are any of the transactions being conducted on behalf of a third party?      
 
If Yes, please provide the information below:
 
Full Name or Business Name:

 

Address:

 

Phone #:

 

Date of Birth:

 

Occupation or Business Type:

 

 
VI. Please list or comment on any documents that you provided?
 
 
V. Please include any additional information that will assist in our analysis
 
 
Sincerely,
Compliance Department,
Western Union Financial Services, Inc.
PO Box 7000 Englewood, CO 80155-7000
wukycreview@westernunion.com
 
 

... And yet the Nigerian Princes STILL GETS YOUR MONEY from Western Union. How come you can't get your money back from them? I am assuming they asked the same questions to the Nigerian Prince. Obviously they need to protect WU and not their clients.
bryant.coleman
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February 10, 2014, 08:01:40 AM
 #37

WU normally charges 10-15% commission for international remittance. Soon normal people will dump their service.
yenom
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February 10, 2014, 09:19:13 PM
 #38

sadly we may see questions like that on exchanges once all the regulations are in place.

But in a pure bitcoin economy, you would only need to exchange to pay your taxes. And you never know if bitcoin becomes huge, the governments of the world may accept it of taxes, although I would never give the government any of my bitcoin. Just feels wrong.

I've seen people on here get paid in bitcoin, some people pay their rent in bitcoin and some food and clothing can be bought with bitcoin. You could survive on it right now without needing fiat, although choice is limited.
bitcoinminer
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February 10, 2014, 09:45:07 PM
 #39

Seems logical - just get every Wal Mart, grocery store, and bodega to drop Western Union and pick up bitcoin.

Remove any fraud controls whatsoever, yeah, sounds good!

Side note:

I am accepting BTC payments for fractional shares of the Brooklyn Bridge.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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February 10, 2014, 10:32:39 PM
 #40

The other day at the grocery store I stood next to a gentleman from Egypt that wanted to WU $200 to his family back home for Xmas.

Funny you say that. In Egypt they don't celebrate Xmas. *cough*muslims*cough*


20% of Egypt's population are Christians *cough* ignorant americans* cough*
A simple google search could tell you that *cough* ignorant americans* cough*
Egypt is in Africa, not the middle east *cough* ignorant americans* cough*
A world atlas costs $0,99 at walmart *cough* cheap people... *cough*
Christmas is not even a Christian holiday. It was the Roman pagan festival called Saturnalia, early christians adopted it to convert more pagans. Bible's Christ was not even born in December *cough* ignorant americans* cough*

A google search also reveals that it costs maximum $10 to WU $200 to Egypt as of now.


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