Western Union Franchise: 11 Commonly Asked Questions
A Western Union franchise is a business very much associated with Filipino society.
About 10 million Filipinos work and live abroad and most of them regularly send money to families in the Philippines. In addition to this huge market for remittance business, domestic transactions such as stay-at-home retailers, parents sending money to children studying in big cities, and other financial transactions taking place locally make use of remittance channels.
Western Union is an established and renowned money sending and receiving agent that’s been serving Filipinos both in the Philippines and abroad for many years so the level of trust is a level higher than the lesser-known brands.
Just like Jollibee, a brand that Filipinos have embraced and have a strong affinity with, Western Union, though not a Filipino brand, relates especially to both OFWs and family members as a messenger of the lifeline that sustains.
Attract new customers as they become involved in cash-to-cash or account-to-cash remittances, serving an average of 1 million transactions a day in 2012, generating US$5.7 billion in the process.
So if you’re a Western Union agent in an area, you’ll expect to gain new customers all the time. Offering Western Union money transfer will give your business the opportunity to increase its bottom-line revenue while strengthening your competitive position.
What are the benefits of a Western Union agent?
- As an agent, you attract new customers by offering Western Union money transfer services.
- As an agent, you generate revenue through a commission earned on every transaction, sent or received, at designated branches.
- Increase footfall and revenues by leveraging cross-selling opportunities. Similar services (bill payment, flight booking, and other value-added services).
- Enhance your customer relationships by offering them more convenience. A prominent location helps customers easily make transactions, helping them save time. A Western Union study showed that its customers patronize the service regularly and are loyal, with 77% of them transferring money between once a week to once a month. Of these customers, 65% always use the same agent to handle their money sending transactions.
- No investment or annual fees are involved; all you need is a computer, an Internet connection and a printer*
- Free marketing and sales starter packs for your retail location(s)
- Training and money transfer software updates (free of charge)
- 24-hour customer service support
- Best-in-class compliance program
What do I need in order to offer Western Union money transfer services?
You’ll need a computer, an Internet connection, and a printer at your retail location. Once you’ve installed the software we’ll provide, you’ll be able to offer money transfer services and earn a commission on every Western Union money transfer that’s sent or received from your retail locations(s).
How will I earn money with Western Union?
Each time a consumer sends a Western Union money transfer, they’ll pay a transfer fee for the service. As a Western Union agent, you’ll earn commission on the transfer fee for every transaction you process. The more transactions you send or receive, the more you earn.
Who’s responsible for setting the price of the money transfer service?
Western Union will provide the fee tables. The system will automatically calculate the fee based on the amount of money sent, the service is chosen, and the destination country.
How is a Western Union money transfer processed?
To send money: The consumer completes a send money form and gives it to the Western Union agent. The agent enters the consumer’s information into the Western Union system, checks their identification, and collects the cash (including the sending fee). The agent ensures that the consumer signs the receipt and provides them with a copy.
To receive money: The consumer completes the receive money form and gives it to the Western Union agent. The agent enters the consumer’s information into the system, checks their identification, and gives the consumer the funds and a copy of the receipt.
Will I be able to process money transfers to any destination?
Yes, your customers will be able to send money to nearly 500,000 agent locations in more than 200 countries and territories around the world. You’ll also be able to pay out money that’s been sent from any Western Union location across the world.
What support will I receive when I partner as a Western Union franchise?
Once you’ve been enrolled as an agent, Western Union will help you get started and make your first transaction. You’ll get a free starter pack with training and marketing promotion materials. We’ll provide your training and software for free. As a Western Union agent, you’ll have access to our Customer Care who’ll answer any questions you may have about offering our service.
What do I need to know about Anti Money Laundering (AML) compliance?
While all money transfer agents have a responsibility to implement Anti-Money Laundering (AML) compliance procedures, Western Union has an industry-leading AML program and provides first-class training and support to help you succeed as an agent and protect your business.
What type of business do I need to have to be eligible?
Many retail businesses make great Western Union agents. Agents in our network own businesses as diverse as convenience stores, financial services providers, newsagents, pawnbrokers and travel agencies.
Do I need to have a specific license and will I be regulated?
Yes, but Western Union will handle this for you.
How do I apply as a Western Union franchise?
If you have a retail business such as a financial service provider, convenience store, pawnbroker, travel agent or any business that has a physical presence, you might be interested to become a Western Union agent to facilitate additional revenue streams. All you have to do is to register and enroll online to become an official and accredited agent.
You need to fill out an online form, and once the application is accepted, you will be contacted by a salesperson. If approved, Western Union will help you get started as you make your first transaction. Your enrolment comes with a free starter pack, training, and marketing promotional materials plus the software which is also free of charge. As an agent, you will have 24-hour access to its online customer service support to answer all your queries and problems encountered. To learn more about becoming an agent, call the toll-free hotline at 1-800-325-6000 to learn more.
Western Union Customer Service-Hotline: Feel free to call the Philippines Hotline at:
02 888-1200 (for calls within Metro Manila) or
1-800-1-888-1200 (toll-free nationwide via PLDT Lines) or
1-800-9-888-1200 (toll-free nationwide via Globe Lines)