Digital Payments

Western Union Temporarily Halves Fees For Essential Workers

Western Union Halves Fees For Essential Workers

Western Union is offering a 50 percent discount for essential workers utilizing its payment services, according to a press release issued on Thursday (May 7).

Western Union says that more than 65 percent of global citizens are working for essential, front-line services, such as medical, police and fire department professionals as well as employees in food, transport and utility fields. That includes 63 percent in the U.S., 67 percent in the U.K. and 70 percent in Germany.

To wire money to loved ones at the discounted fee, those workers can enter the transfer code THANKS2020 until May 20. The discount will apply for the majority of Western Union digital-enabled countries. The payments will be available for bank accounts and wallets in 100 countries, as well as retail agent locations in 200 countries and territories.

“Many of the world’s frontline or essential workers are global citizens who regularly send money to loved ones back home,” said President and CEO Hikmet Ersek. “At Western Union, our inspiration comes from our customers who trust us with their hard-earned money. We want to acknowledge their dedication to keeping remittances moving to the communities and economies around the world that depend on them the most and support them as they continue promoting the health and safety of the communities around them.”

As of 2019, Western Union digital money transfers were available in over 75 countries, making them the company’s biggest-growing facet. The company also recently debuted its Digital Location service, a concierge service that enables customers to conduct digital transactions from home.

Western Union has also pledged over $1 million in the fight against the pandemic, alongside the Western Union Foundation and other partners. The money will go toward bolstering healthcare around the world, particularly for vulnerable minorities. The company will also continue to support hunger relief, medical training, education and supplies for workers around the world, the release says.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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