Global payment services firm Western Union is teaming with Canadian financial institution TD to offer a fast, convenient way for TD account-holders to send money around the world.
Western Union said in a press release on Thursday (Aug. 1) that customers of one of Canada's largest financial institutions can now send money cross-border from their personal TD Canada Trust accounts.
TD’s Canadian customers can use their checking, savings or line-of-credit accounts for cash pickup at any Western Union location in 200 countries and territories around the world. The newly-launched money transfer service is available online with EasyWeb.
“Western Union offers a convenient and reliable way to meet increased consumer demand for international financial connectivity, allowing money transfers between individuals to take place quickly and with flexibility,” said Western Union Global Head of Consumer Money Transfer Khalid Fellahi. “In collaboration with TD, we are unlocking opportunity for consumers and building a bridge that connects the online and offline — or digital and retail — worlds. The ability to support digital-to-cash money transfers helps us deliver on the choice and convenience customers want.”
TD Senior Vice President of Every Day Banking Frank Psoras said there will be additional service enhancements to the service that “exemplify TD's commitment to customer-centric innovation, and is part of how we're making it fast and easy for customers with friends and family in other parts of the world to send money.”
Western Union is in the midst of working with other companies to build omnichannel and global P2P offerings that combine cash and digital processes. The goal is to enable more payment options for consumers around the world. One example is its exclusive partnership in June with discount retail chain Dollar General. Consumers can initiate international and domestic money transfers digitally through the Western Union mobile app or website, then pay in person at Dollar General stores. They can also receive money transfers in Dollar General stores, where senders have 12 hours to settle their accounts.
In June, Western Union and Visa entered into a new strategic partnership to expedite the digital movement of money globally. Under the terms of the agreement, Western Union will leverage Visa Direct, the card giant’s real-time push payments platform, to offer global expedited push-to-card transfers. The goal is to scale real-time, cross-border payments across more than 200 countries and territories, and 130 currencies.