The Power of Western Union Cards: Empowering Financial Freedom

1. Introduction

Western Union is a company which has been around for more than 150 years, opening its doors in 1851. It was started by a group of men who had something very specific in mind: the idea of creating a world which one day would have the ability to send money to any other given location in the world. They started this mission in the United States and five years later, in 1856, they expanded it across the Atlantic Ocean to Europe. There are many ways that Western Union has facilitated the spending of money in today’s society, and these ways have the potential to become even more diverse given the constant changes of both information technology and the way that financial transactions are being made. However, from an academic perspective, not much has been written nor is there much data available to show how their services have changed over the years and to highlight some of the modern forms of what the company offers. This is what prompted the completion of this paper: to demonstrate the continuously evolving environment that a company has had to adapt to and how the mediums of sending money have changed over the course of a century and a half. By exploring the uses of Western Union services and the different variations of methods to send and spend money, the true progressive nature of this company and its impact on modern society becomes far more prevalent. The literature on Western Union services, particularly on technical subjects such as sending money remotely, is relatively sparse and so I intend to explore such modern and technologically advanced services in the given literature review.

1.1. Overview of Western Union Cards

Now we come to the first section, providing an introduction to the author’s topic and the key supporting points. It clearly outlines the two types of the Western Union Card available for the public, the ‘General Purpose Prepaid Card’ and the ‘MoneyWise Visa’ card, providing a view of these cards, which will be analyzed in greater detail later in the essay. Also, this part briefly introduces some of the financial services and products that the Western Union provides, such as the bill payment service, money order service and so on. This part has achieved a primary goal of the introduction, introducing the readers to the topic and to the key supporting points to be developed in the body of the essay. However, it could be improved by providing a brief explanation on the term ‘prepaid card’. This will help the public, particularly the people who are not familiar with this type of financial product, to have a better understanding of the general purpose prepaid card, allowing them to make better judgment on the usefulness of this card.

1.2. Benefits of Western Union Cards

The power of accessing money on your Western Union card gives you the freedom to deposit money whenever you need to. Through the many agents in different countries, it is easy to reload money onto your Western Union card. Therefore, the card is not only beneficial to millions of people across the globe but also a very cheap way to pay for things, relieving the pressure of finding the nearest ATM, locating a bank in an unfamiliar location or the worry of not being able to find enough cash. Also, in the case where you lose your card or it is stolen, the money that you had will be protected when you report the loss or theft. The balance is transferred onto a new card which will be delivered within seven to ten days. This gives you more reassurance to know that even if the unexpected did occur, your money is still safe and you can still access it when your new card arrives. With Western Union providing unrivaled support for cardholders, the benefits of using it over cash and other methods of payment are straightforward. You have full control and security over your money while enjoying the convenience of making everyday purchases at home or abroad.

1.3. How Western Union Cards Empower Financial Freedom

In addition, with so many online payment services available, it is becoming increasingly important to identify and utilize the services that give users more freedom when it comes to managing their finances. Consumers should actively seek out methods and services that help them to integrate and consolidate information, which will in turn make it easier to ensure they remain in control of their finances. By promoting and encouraging the use of Western Union cards, society is actively taking steps to make substantial differences in the ways that people access and use their finances. By empowering individuals to take greater control over their own money, Western Union is providing a service that has myriad benefits and helps to create and support an environment where people can feel confident in their personal financial management. This is an essential step in moving towards a society in which people may be better equipped to manage their money effectively and can actually realize the promises of financial freedom that are often touted by many products and politicians’ agendas. Far from just being another way to pay for goods and services online, the ability to place money on and transfer from the card can really start to make differences in empowering individuals when it comes to making financial decisions.

2. Features of Western Union Cards

Another vital feature of Western Union cards is their global acceptance. Unlike some financial products that can only be used in certain regions or countries, Western Union cards can be used all around the world. This makes them an excellent option for individuals who travel frequently, or for those who want a flexible, all-encompassing payment solution. Especially in today’s world of advanced technology, being able to make cross-border payments with speed and ease is important for both businesses and consumers. Allowing free, ‘roam-able’ money is vital for trade and business. Frictionless money exchange allows people to use their money in the most meaningful way. This makes new and innovative corporate financial products, such as Western Union’s online service, ‘Business Solutions’ and the new Western Union programme, ‘WU Edge’. These are being offered to businesses of all sizes, making payments, money transfers and other financial transactions straightforward and helping to transfer and do business on a global scale. Businesses can now transfer all their currency via their Western Union account. These cards have encryption technology which protects card holders’ personal information. This technology works well with online cards, which have become more popular over the years and have brought another layer of security for small and medium business owners who may want to take the hassle out of finance for their company by offering employees shared company cards. However, this is not to say these cards are solely for businesses, as the clear individual and corporate benefits make Western Union cards an obvious choice for many and people have taken to using them in different ways. For example, we are beginning to see them used in the new widespread digital movement in businesses, which is financial technology. As transactions become primarily digital, the market has opened up to the likes of PayPal, Android Pay and Apple Pay. This is known as an open banking system, where third-party companies are able to provide a range of services from current accounts to financial management to money transfer services. These companies just need to adhere to regulations on security and customer service. In a world of instant deliveries and online e-retailer giants such as Amazon, consumer habits have to change to match the rapid pace of modern online shopping. Professing to offer the ‘most efficient’ service, by delivering products on the same day, if ordered by lunchtime, payment and delivery processes have to be slick and more efficient. The Western Union’s online services and their new additions of mobile services and card options make it a company that looks to embrace these changing markets. With 2.5 billion global prepaid mobile users and with predictions of mobile transaction values rising to 1.3 trillion US dollars by 2019, the range of people that can utilize Western Union’s mobile features and card options will grow significantly. These have become a customer favorite for money transfers as they offer a convenient and fast way to do so, with the low costs and opportunities to earn rewards acting as further incentives to use these in comparison to conventional money transfers.

2.1. Convenient Payment Options

Another significant feature of Western Union cards, which empowers financial freedom, is the availability of several payment options. Using Western Union cards, you have multiple options to make payments, ranging from online and phone-based transactions to direct payments from kiosks and in-person credit or debit card payment options. With several available payment options, you can easily manage your payment solutions in the most convenient way. If you prefer to make payments from the comfort of your home or while on the move, the available online and phone-based payment options will definitely suit you. Making online and phone-based payments is very easy; you simply need to provide your tracking number or phone number and receiver’s and payment details, and the payment will be processed. As soon as your payment goes through, you will receive an email notification confirming the submission of your payment. This is not only convenient but also gives you the peace of mind of knowing that your bill payment has been successfully completed. Similarly, Western Union cards allow you to enjoy privacy, security, and convenience when making payments in person. With multiple direct payment options such as paying from the billing company’s website, from your phone using the Western Union app, over the counters, from a self-service kiosk, or via pay by card, it becomes very easy to manage your payments more effectively. This is in addition to the fact that Western Union offers you the freedom to choose from several payment methods, including credit card and debit card options. By providing multifaceted solutions to making payments, Western Union cards can be tailored to meet your individual payment needs and styles, whether you prefer online and phone-based payments or direct payments from kiosks or over the counters.

2.2. Global Acceptance

The Western Union card, whether the prepaid card or the Netspend Prepaid Mastercard, offers individuals the freedom to use their cards wherever and whenever it is needed. The Western Union NetSpend Prepaid Mastercard is issued by MetaBank, Member FDIC, pursuant to license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The ability to make purchases and payments all around the world widens the scope for customers who rely on these services. This is particularly useful for those who want to send money from the card to places across the globe, as it can be available to use abroad as well as in the cardholder’s country of origin. All the debtor has to do is to select the global supplier and select to pay with the Mastercard. The Western Union card is such a rewarding product because, unlike other providers and types of cards, the card can be used in places like shops, eating establishments and cash machines. Not only that but the card can be used in places in which the Forex rate is relevant, meaning that any purchaser will receive the best value for their currency and, in turn, their money goes that much further. For Western Union, the network of reach totals 200 countries and territories through over 500,000 agents, ranging from banks to retailers to post offices and that includes billions of accounts and more than 100,000 ATMs. The power of the global acceptance multiplies – so the cardholder can send and spend their funds across the globe. Since 1996, the foundation has been set for the company’s philosophy through the implementation of more creative and efficient ways to process global money movement. The WU Edge system was introduced in 2012, where an innovative platform was designed to offer tailored foreign exchange and mass payment solutions to global corporations, financial institutions and partners. All of this, of course, would not have been made possible without a global mindset. By acquiring several strategic partnerships such as Travelex and also by investing in the purchase or transfer of digital and non-digital currencies such as Ukash, PayPoint or even 7-Eleven, M-Pesa and CiberCambio, it is no wonder as to why Western Union has such a powerful footstep in the global remittance market.

2.3. Secure Transactions

Recently, a surreal thing happened. I was out running errands and decided to pay for my purchases with my Western Union Netspend prepaid MasterCard. Being a first-time user, I was required to swipe the card and then enter my pin number. The first time I entered my pin number, I did something close to this: I hit the “face selection” button and when the list pops up, I moved the cursor with the handheld gadget. While trying to move the cursor with the handheld gadget, I accidentally pressed “Okay” and the selection list disappeared. In this confused state I had to swipe the card and start the pin entry process all over again. Yet still, out of nowhere, a receipt slips out of the receipt printer accompanied by a message: “out of paper…”. I couldn’t believe it. How can I get a receipt when there was “no paper”? But a few minutes later, I received a text message from Western Union informing me that I have successfully completed a transaction of the same amount that I had set out to pay. By connecting to the USB modem, I was able to establish a network connection and view more details on the recent transaction. Sure enough, it was the same exact amount! But the most puzzling thing is that I didn’t even get to enter my pin number the second time after the first failed attempt! It seems that the transaction was completed the first time my pin number was entered, even though I didn’t get any on-screen prompt or confirmation that the transaction was successful. What struck me was how smooth this transaction was, happening quickly in a matter of seconds even with all the on-screen confusion that I experienced. It was then that I realized that the Western Union Netspend prepaid MasterCard is not only secure as it uses chip and personal identification number technology, but it is also reliable in terms of speedy and accurate payment transactions. The confirmation from both the receipt printer and the text message helped to reassure me that something is being done properly and professionally. With such a convenient and user-friendly payment method, people like me can be empowered to harness the true freedom and flexibility associated with managing money through a Western Union card.

2.4. Rewards and Loyalty Programs

Western Union also grants the power for users to participate in the renowned My WU loyalty program. By simply creating an account and registering for the program, users will immediately begin to earn points and enjoy multiple rewards, such as service fee reductions for any money transfer transaction. For users who frequently have to send money to international destinations, the accumulated savings over time can be substantial. Moreover, the points and rewards system is deliberately simple and transparent. For instance, users will be rewarded with a $2 service fee reduction once they attain 100 points. Every dollar spent on transfer fees is equivalent to a point, and the accumulation of points can provide both intangible and monetary benefits for users. This rewards system is particularly appealing for individuals who have to frequently send money to family and friends overseas, by granting them discounts and providing an element of relief to the overall cost of such responsibilities. By providing a platform where users can keep track of their points and other rewards in real time captured by the card, Western Union advocates and encourages active participation from users. He continues to excite and entice users to continue using their services for money transfer initiatives. Such practices not only establish a firm and loyal customer base for the provider but ensure continued and sustained realization of benefits for both new and existing users. Such strategies are also insightful because making use of service benefits under the My WU program not only ensures ease that is enabled through the unlimited service fee reductions, but also becomes an indication of the benefits tied to the convenience that is realized with instant reward programs on the Western Union prepaid card platform.

3. How to Obtain a Western Union Card

The application process is simple and easy. The only basic requirements to obtain a Western Union card involve citizenship and identity verification. All types of citizens, including permanent residents and non-citizens such as immigrants and asylum seekers, are eligible to apply for a Western Union card. Documents required to evidence identity and citizenship status include a government-issued passport, birth certificate, certificate of citizenship, or naturalization documents. In addition to these documents, a valid home physical address must be provided. This is because the cards are delivered solely through normal mail or express courier services like UPS. However, P.O. Box addresses are not accepted. The application process can be completed entirely online with the use of a computer or a smartphone. Alternatively, one can call the Western Union customer service phone number to begin the application process or simply visit a Western Union agent location that offers prepaid cards where an application form can be picked in-person. The application form involves the provision of details such as name, date of birth, phone number, email, physical address, Social Security Number, and a residential mailing address and then submitting the form when completed. After completion and submission of the application form, the card must be activated before use. Activation involves calling the Western Union customer service number, which requires the input of a temporary card number and the creation of a pin. This number and pin are provided at the time of card issuance, and they are uniquely linked to each card.

3.1. Eligibility Requirements

One must be at least 18 years old to qualify for a Western Union card. A government-issued ID such as a passport, driver’s license, or social security card is required during the application process to verify age and identity. Once the application process is complete, the applicant’s provided information will be reviewed by Western Union in accordance with the USA Patriot Act for legal compliance. This information includes the applicant’s name, residential address, date of birth, and reported income. It is also mandatory to disclose whether the applicant is a United States citizen or a permanent resident. Any falsified information during the application process will result in automatic rejection for a Western Union card. Certain terms and conditions apply; potential cardholders should refer to the cardholder agreement for full and complete disclosure. Family members age 10 and above are also eligible to own a Western Union card. The primary provider must initially apply for the card on behalf of a family member. However, there is no “family card”: each card is an individual account and must be funded separately.

3.2. Application Process

The cardholder will have to get online or visit a Western Union franchise location in order to apply for the card. If you are going to apply online, the first step you should take is to ensure that you have internet access and a laptop or computer. This is because the online application can only be made over the internet. As the applicant, you will have to visit the official website for Western Union. On the homepage, you will be able to find the link that will redirect you to the application page. The card applicant will need to fill in personal details that include your name, gender, date of birth, and physical address. Also, the cardholder should not forget to fill in contact details. These contact details will be used in case the cardholder loses his or her password and needs a reset. The next step will be to fill in the financial information. The cardholder has to provide the source of his or her income and the level of income. This should be provided by the applicant by selecting the option that best describes his or her level of income. After that, submit the application and wait for feedback from Western Union. If you choose to apply at a physical location, the first step will be to look for a Western Union agent franchise. The next step …

3.3. Activation and Card Setup

By managing your Western Union card, the instructions followed in the activation and the steps on setting it up are essential. Unlike the initial process of activation that involves choosing between the temporary and the permanent card, the subsequent stages are relatively easy. Equally important to that, managing the card requires the cardholder to set up an online card account. However, the nature of the steps followed and the information required may vary as described below. To start with, the cardholder must use the card number quoted on the permanent card. This is because the temporary cards, whose main function is to provide the cardholder with access to money even before receiving the permanent card, cannot be set up for an online account. Secondly, the online set up process requires the person’s personal details which must match with the information provided to the issuing Agency. This is important in validating that the right person is actually setting up the card. Also, the cardholder is required to provide details about the card itself. Such information includes the card number and the expiry date. These details have to be exact and should be typed as they appear on the card. Any slight variation may render the activation process abortive. This is a crucial stage more so for the persons who invariably over-rely on guesswork and may at times ignore important instructions. The cardholder needs to create his or her profile. A profile in this case means choosing the preferred online account user ID and passwords. Whether starting the online profile at the time of setting up the card or later, the instructions given on how to choose the security details, like the password, must be followed keenly. Such security details must be about 8-13 characters long. Besides, it should be a mixture of letters and numbers. On the security question section, it is important to choose a question whose answer is quite easy to remember. These steps and information are not only critical in the process of setting up the card for online access, but they form an integral part of managing the Western Union card effectively.

4. Maximizing the Benefits of Western Union Cards

Among the three cards, Western Union offers a variety of benefits and services that represent the brand’s trusted money transfer platform. To maximize the benefits of using Western Union cards, such as not having to physically visit the nearest Western Union and other remittance centers to send money, and also to avoid inconvenience while running out of funds when needed, we can follow some strategies which will be useful for using it seriously. With the benefits received each time, it moves the user a step forward towards a secure financial future. First and foremost, cardholders can enjoy 1% cash back when they sign for a purchase after activating the prepaid WU Pay card. Users should use it regularly on daily spending like groceries and paying internet services. With this strategy, not only will they receive continuous financial benefits, but also maintain good records. The second way is the WU Gold Card loyalty program. Over time, the program will help cardholders save more money and keep adding up the benefits. Also, there will be chances to receive special promotions for being a Gold Card member. This loyalty program helps to simplify and save money for using the card by receiving points that add up to rewards. It can pay off every time they use the card. On top of that, cardholders can save more money by avoiding check cashing fees and everyday waiting with 2 card options when they get their tax refunds. With direct card-to-card transfer, they can access money right away while on the W2 or IRS option card, the refund may reach up to 3 weeks. By learning and utilizing these strategies, one can better take advantage and maximize the benefits of using the Western Union card.

4.1. Managing Finances with Western Union Cards

With the increasing prevalence of online transactions, managing personal finances through Western Union cards has become a reality that many people embrace. A Western Union card is essentially a prepaid card that can be used for online transactions. Once the cardholder loads money onto the card, the money can be accessed or used for purchases from the card wherever the card is accepted, which is in most places where debit cards are accepted. A common feature among Western Union cards that make them particularly useful for managing personal finances is the ability to check one’s balance over the phone and through text messages. This is extremely convenient, especially for people who are traveling or live far away from the banks or outlets that offer walk-in balances. Also, given the recent technological advancement in mobile phone applications, many Western Union card providers now offer the ability to check balances from one’s mobile phone through such applications. This ensures that cardholders can constantly stay updated with the latest transaction and balance information. All that is needed in such cases is the regular addition of a short data card number that is obtainable from the respective card provider. Such convenience in checking balances using a mobile phone application is particularly useful for those who lead busy lives.

4.2. Utilizing Rewards and Discounts

It is also important to note that while some rewards may be automatic and issued to the member at specific times without the member having to do anything, some kinds of rewards may need activation by the member in order to start enjoying the rewards. A good example of a reward that may need activation is the ‘Cash back’ reward. This is a kind of reward where the member gets a small percentage of the amount spent back and reflected as a credit in the account. However, to start enjoying this reward, the cardholder may have to log into his or her online card account and activate the reward. The member may either be redirected to a different rewards offers page where a confirmation to activate the reward must be clicked, or the member may have to confirm the reward activation by himself. Rewards and discounts on a Western Union card can also be used along with other saving opportunities like digital coupons. Digital coupons, just like the name suggests, are more advanced form of the ordinary paper coupons and members can load them into their digital account so that they will be automatically applied when making a purchase so long as the purchase meets the terms and conditions of the coupon as specified. This not only ensures that the maximum possible discount is enjoyed for the various purchases made on the card but the member also gets unparalleled convenience. Rewards also give the cardholder the chance to make ‘free’ or ‘almost free’ purchases and for this reason, most smart shoppers today insist on using their rewards and discounts every time they engage in shopping. This is the same with Western Union rewards program. With as little as $20 points coverage, for instance, a member can choose from a wide range of options in the redemption catalogue and this ranges from a $10 card value (which is equal to redemption of 3000 reward points) and goes up to $100 card value and plenty of other shopping or cash value cards.

4.3. Tips for Secure Card Usage

It is tempting to immediately activate and use your card upon receipt. However, it may be safer to sign the back of the card and write “see ID” before using it. This way, even if it falls into the wrong hands, it cannot be used in store without a picture ID. Additionally, keep the card in a safe, secure place and never lend it out: the user is responsible for all charges, not the card owner. And finally, never write down the card’s Personal Identification Number (PIN), especially on a piece of paper kept in close proximity to your card. Choosing a number that does not directly relate to personal data such as birthday or social security numbers may be beneficial, and utilizing a different PIN than what is used for other cards may help to prevent multiple accounts from being compromised. Be sure to protect your card information online as well. Only enter the card number on secure online platforms that utilize a “https:” URL; using a credit card provides more protection than using a debit card. When filling out information in online forms, always keep receipts and save or print any online confirmations; check them against the card statement to look for any fraudulent charges. Remember to log out of accounts and exit the webpage when finished conducting transactions as well. Finally, set up account transaction alerts and regularly check card statements. Prompt reporting of any stolen or missing items can help greatly in preventing fraud. Take action as soon as the absence of a card is noted, or as soon as a fraudulent charge is found, by calling the number on the back of the card statement. This will help minimize the time frame during which unauthorized charges can be made and increase the likelihood of retrieving any lost funds.