There are many options to send money internationally. The banks and third party agencies plays an important role in remitting money overseas. Let’s discuss all about the difference between Western Union and PayPal.
Perhaps we all are eager to receive international funds since it has got great value in comparison to Indian or Sri Lankan currency. There was a time when the people used to be eager to travel and earn international currency in vain. However, in course of time everything got changed. The human life has been more sophisticated and mechanical. Getting money from international marketing sitting at home has been as easy as ABC due to presence of the internet and computer technology. Far to speak of computers, even the smartphones have been proved to be a greatest tool be it money transfer to India or Singapore
You may be a creative designer, writer or high-end exporter. You would like to get money from the overseas market. Once upon a time, it used to take a lot of time to receive money for your work. Even, communicating to the overseas market was really an impossible tasks due to heavy expenses on international calls and communications. However, calling abroad has been extremely easy that takes no money to little money. Today, there are many third party money transfer agencies that help to send and receive money from all over the world.
In this, article, we will discuss all about the differences between PayPal and Western Union.
What is Western Union?
Western Union is one of the most popular and oldest companies in the world that has been remaining in the services of international money transfer for years. It was established in the year of 1851, almost more than 165 years now in the services of human being for making the life easy by transferring money from any corner of the world. It is basically an American company head quartered in Meridian, Colorado in United States of America. It can help anyone be it money transfer to India or Australia.
How it works
You may have a family members and friends who have been working overseas. It may be United States, United Kingdom, Australia, Canada or United Arab Emirates etc. Your closed one can send you money with hassle free process. He or she has to deposit money in any of the Western Union outlets in any countries of the world. The Western Union will give you a 10 digit numbers which your relatives and friends need to tell you over the phone, email and any sorts of private messages. After receiving the 10 digit secret number provided by Western Union, you have to rush to the nearest Western Union outlet with an identity proof. You can show your passport, PAN card, Voter ID or any other ID that is recognized by the Government of India or the country you belong to.
How PayPal Works?
PayPal is a new name in the field of global money transfer. It is being used widely as payment gateway in many websites across the globe. You need to create a PayPal account using your email ID. This email ID is your PayPal account which you need to send to the person who would like to remit money to you. Anyone can receive money by using PayPal account. If you are a Sri Lankan and have been working overseas, then you can send money to Sri Lanka easily using PayPal to your family and friends.
Now we can understand little about the difference between Western Union and PayPal. In a nutshell, Western Union is easier and hassle-free.