M-PESA Western Union: Registration, Charges, Sending and Receiving Money 2024
Learn how to send and receive money across different regions with ease using the M-PESA Western Union service
In the age that we are living in, sending and receiving money across borders has become integral to people's lives. The advancement of technology has paved the way for convenient and secure money transfer services that cater to the needs of individuals and businesses alike. One such powerful alliance in global money transfers is the partnership between M-PESA and Western Union. In this article, we'll delve into everything you need to know about this collaboration, from registration and services to charges, sending and receiving money, and the remarkable features that set it apart.
M-PESA and Western Union link
Money has transcended physical boundaries and so needs seamless money transfer solutions. Western Union, a renowned company specializing in international money transfers, has joined forces with M-PESA, a game-changing mobile money platform Safaricom operates. This strategic alliance brings together the expertise of Western Union in cross-border transfers and the convenience of M-PESA's digital platform.
Registration and Accessing the Service
Registering for the M-PESA Western Union service is a straightforward process that opens doors to a world of global financial connectivity. As an M-PESA registered customer, you gain access to the service through the M-PESA App and USSD *334#. This service is available to all M-PESA registered customers, allowing you to send and receive money fast and conveniently across different regions.
Sending Money via Western Union
Sending money through the M-PESA Western Union service is both intuitive and user-friendly. You have two primary channels for initiating a money transfer: the M-PESA App and USSD *334#. Here's a step-by-step guide for each:
M-PESA App:
- Log in to the M-PESA App using your chosen biometrics.
- Select "Transact" from the menu.
- Choose "Global" and then "Send to Western Union."
- Select the recipient's country and enter their details, including First and Last Name (matching their identification documents).
- Specify the source and purpose of funds.
- Confirm the details and send the money to Western Union.
- Enter your M-PESA PIN for authorization.
- Receive a successful confirmation message.
USSD 334#:
- Dial *334# from your mobile phone.
- Select "Send Money" and then "M-PESA Global."
- Choose "Send Money Abroad" and then "Western Union Location."
- Select whether the recipient is frequently sent or a new recipient.
- Enter the recipient's name and other details.
- Specify the source and purpose of funds.
- Confirm the details and send the money.
- Enter your M-PESA PIN for verification.
- Receive a successful confirmation message.
Transaction Limits and Charges
Understanding the transaction limits and charges associated with the M-PESA Western Union service is essential for efficient money management. The service offers daily, monthly, and yearly limits to accommodate varying financial needs. The limits are as follows:
- Daily Limit: KSh 300,000
- Monthly Limit: KSh 1.5M
- Yearly Limit: KSh 18M
Charges for the service are determined based on the transaction amount, as shown below:
| Min | Max | Tariff (KSh) |
|---|---|---|
| 101 | 5,000 | 100 + Forex rates |
| 5,001 | 20,000 | 250 + Forex rates |
| 20,001 | 35,000 | 350 + Forex rates |
| 35,001 | 150,000 | 500 + Forex rates |
The Power of Country ISO
Country ISO, a two-letter abbreviation for country names, is pivotal in global money transfers. For instance, "ZA" stands for South Africa, "KE" for Kenya, and "UG" for Uganda. Understanding Country ISO codes ensures accurate and efficient money transfers, enabling funds to reach recipients in their respective countries.
M-PESA Global and Western Union
Western Union's collaboration with Safaricom to launch M-PESA Global is a groundbreaking innovation in financial services. This optimized feature empowers customers to send money from their M-PESA wallets to Western Union retail Agent networks or billions of accounts globally. This partnership has revolutionized financial inclusion, enabling millions of Kenyans to send, receive, and store money locally and internationally.
Benefits of M-PESA Global
M-PESA Global empowers customers with a range of benefits, including:
- Seamless cross-border transactions to over 200 countries and territories.
- Flexible options to receive money directly in your M-PESA wallet.
- Integration of M-PESA and Western Union platforms for enhanced global connectivity.
- The choice to send or receive cash for various purposes, such as family support, education, and more.
- Accessibility through the M-PESA App and USSD *334#, making transactions effortless.
Factors Affecting Money Transfer Speed
Several factors influence the speed of money transfers, whether domestic or international:
1. Timing of the Transfer: The day and time you initiate a transfer play a role. Cut-off times for next-day, same-day, or three-day transfers may vary based on your financial institution.
2. Location Matters: Domestic transfers are generally faster than international transfers. Different time zones and holidays in the recipient's country can impact transfer speed.
3. Incomplete Information: Providing accurate recipient information, including full names, account numbers, and bank details, ensures smooth processing. Inaccuracies can lead to delays or cancellations.
4. Method of Fund Transfer: The method used by your financial institution, such as Fedwire, SWIFT, or CHIPS, can affect transfer speed.
How Long Does an International Money Transfer Take?
International money transfers typically take between one and five business days. Factors like the transfer method, time zones, and currency conversion contribute to the variation in transfer time. Certain countries with slower payment systems may experience longer transfer times, so it's essential to consider these factors when sending funds abroad.
READ ALSO: M-Pesa Business App: How to Download, Registration, and Services
Conclusion
The collaboration between M-PESA and Western Union has revolutionized how we transfer money globally. Whether you're a business owner, student, or individual supporting loved ones, the ease and efficiency of M-PESA Western Union make it a top choice for cross-border transactions. By adhering to the guidelines in this article, you can confidently navigate the world of M-PESA Western Union, leveraging its benefits to enhance your financial connectivity on a global scale.
