how much western union charge to send money to vietnam
Introduction
Western Union is a global money transfer service that is used by millions of people around the world to send money to their loved ones in different countries. One such country where people often send money is Vietnam. In this article, we will discuss the fees that Western Union charges for sending money to Vietnam.
Western Union Money Transfer Service
Western Union provides a convenient and secure way to send money to Vietnam. It offers multiple options for sending money, including online transfers, cash transfers, and transfers to a bank account.
Fees for Sending Money to Vietnam
The fees charged by Western Union for sending money to Vietnam depend on various factors, such as the transfer method, the amount being sent, and the currency used. The fees can be divided into two main components: the transfer fee and the exchange rate margin.
Transfer Fee
Western Union charges a transfer fee for every transaction. This fee varies based on the transfer method and the amount being sent. For example, if you are sending money online to Vietnam, the fee could be a flat rate or a percentage of the transfer amount.
Exchange Rate Margin
In addition to the transfer fee, Western Union also makes money through the exchange rate margin. When you send money to Vietnam, Western Union converts your currency into Vietnamese Dong at an exchange rate slightly lower than the market rate. This difference is how Western Union makes a profit.
Calculating the Total Cost
To calculate the total cost of sending money to Vietnam, you need to add the transfer fee and the exchange rate margin. The higher the amount being sent, the higher the fees will be.
Conclusion
While Western Union provides a convenient way to send money to Vietnam, it is important to consider the fees associated with the service. By understanding the transfer fee and the exchange rate margin, you can make an informed decision and choose the most cost-effective method for sending money to your loved ones in Vietnam.
