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New Will Money Received Via Western Union Transfer Be Paid With The Transferred Currency Or In Local Currency Here? By Michaelsample2
Western Union Money Transfer is one of the fastest and secured means of sending money globally.
Though people in some countries like Nigeria and others are not allowed yet to send out money abroad via Western Union but can only receive from Western Union Transfer Money sent from other countries, therefore we say that some countries are referred to as Western Union Money receiving countries, while others are both sending and receiving countries.
Now going by the topic of the day, we know that some of you down here might have a first time pending Western Union Money Transfer that you are awaiting to cash or might just want to know whether the banks or financial institution involved will pay the receiver the money transferred via Western Union Transfer service in the transferred currency or will be converted and paid with local currency.
In the past, if you receive money let say some Dollars via Western Union Money Transfer service, the financial institution involved will pay the receiver in Dollars, but currently, things have changed and they no longer pay in hard currencies, but rather banks will convert the
Western Union transferred money into local currency, using their conversion rate and pay the receiver in local currency.
You should also note that some banks now offer alternative means of receiving Western Union money via their ATM and also in local currency.
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