online FX

FAQ's

Below are some of the most frequently asked questions. If you cannot find what you are looking for here, please call to speak to one of our customer service representatives at 1800 806 266 (within Ireland) or +1.732.694.2257 from international locations. You can also send an email to online@westernunion.com.

Signing Up

As an individual, what sort of documentation may I have to submit to complete my profile and activate my account?

Individuals and sole proprietors may require the following:

  • A bank statement
  • One piece of valid government-issued photo ID and one piece of valid secondary ID*
  • A physical mailing address (PO boxes are not accepted)

Depending on the nature of your transaction, different types of information may also be required.

*i.e. a passport, driver's license, or birth certificate.

How will I know if my application has been accepted?

Upon completing the online registration, you will receive an email with information about the status of your account. You may be required to provide additional information to complete your account registration.

Once all requirements have been satisfied, you will receive an email confirming the activation your account.

How long will it take for my new account to be activated?

Once your completed profile has been authorized by our enrollment team, you will receive an email confirming that you can now book trades with your new Online FX account.

TRADING

Will I be charged a fee to open or hold an account with Online FX?

No, there is no fee to open or hold an account. Signing up to Online FX is free and requires no commitment.

How fast will my recipients receive their money?

Speed varies by the options you choose. Please see the payment types section for more information.

Is there a fee when I send a wire transfer payment to you?

We do not charge any fees for receiving funds into our bank accounts. However, your bank may apply a charge to any domestic wire transfer that you send to us. Please contact your financial institution to find out their charges for outgoing domestic wire payments.

Is there a fee for sending a wire payment to my recipient?

Yes, there is. This fee varies based on the currency of the outgoing wire payment.

You will always get a full quote for the total amount that you need to send us when booking your trade online or over the phone.

Are there any other fees that I will need to pay to Western Union?

Western Union will always display all charges from us before you confirm your trade. However, there are additional fees that could apply in certain unusual circumstances.

Situations where additional fees could apply include:

  • Stopping and re-issuing a draft because you provided an invalid recipient name, address, etc.
  • Re-sending funds if the original wire or EFT transfer has been returned because we were provided with an invalid account number, recipient name, or transit number, or if the bank account has been closed.
  • If a direct debit account has been used to pay for a trade, but we were unable to debit as a result of insufficient funds, or if the funds were not cleared from your bank account.
  • If the funds have not yet been received by your recipient, we can initiate a wire trace. If the trace reveals that the funds were in fact credited as you instructed, then a service fee will apply.
  • A cancellation fee may also be charged if you request to cancel a trade due to certain circumstances.

Do my recipients need to have a Western Union account too?

No. You can send a payment directly into their bank account or as a draft (which is like a money order) through the mail. Drafts are available only in select countries.

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