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Send money anywhere with Nedbank and Western Union
Nedbank and Western Union make sending money abroad simple and secure.
Transferring money to your family and friends when they are far away is a service you might need often, especially in Africa. Many families all over the continent rely on payments that they receive every month from loved ones working in other countries for support. You need a safe, reliable way of sending your money across international borders to those who need it.
You also need to be able to trust whoever is sending the money for you – a registered, reputable financial services provider who understands what you need and won’t overcharge you for commissions and fees. And nowadays, you should be able to send money digitally from wherever you are in the world, using your desktop, laptop or mobile device.
The new partnership between Nedbank and Western Union ticks all these boxes.
Nedbank and Western Union
Western Union started life as a telegraph network in the USA in 1851 and now has agents in 200 countries worldwide, providing essential money transfer services to millions of clients. Nedbank is proud to join this global network of trusted partners, helping clients around the world to transfer money speedily and securely through the Money app or Online Banking. This partnership provides our clients with access to one of the oldest, fastest and most secure international digital banking services anywhere in the world.
Since the early 2000s, as technology has shifted to digital and internet-based financial services, Western Union has been focused on cross-border money transfer services, the segment in which it is now a dominant global player. Western Union now serves almost every country on earth, carrying out 24 transactions per second. Its historical ability to stay ahead of the technology curve has seen it become the go-to service provider in the money transfer business.
Nedbank and Western Union have a lot in common – primarily our shared commitment to fast, secure, international digital banking. As money experts who do good, Nedbank aims to make cross-border money transfers as easy as possible for our clients. That’s why we’ve partnered with a company that has been at the forefront of this kind of technological innovation for more than 170 years.
Choosing a money transfer service
The following factors affect your international money transfer choices:
- Do you work long hours, or in a remote location, so you can’t get to a bank branch or retail store to send money?
- Do you have a family emergency that requires an immediate transfer of money?
- Have you had experiences with unreliable or expensive money transfer companies?
- Can you trust the transfer company with your money?
All these factors are addressed by our partnership with Western Union. You can send money instantly and affordably to anywhere in the world, from almost anywhere, with Nedbank’s award-winning track record as a digital banking innovator to give you added peace of mind.
How to use Western Union services as a Nedbank client
You will need the following:
- A Nedbank account. If you don’t have one, opening one is simple.
- The Money app or an Online Banking profile, as the service is only available through these digital channels.
If you’re a non-resident in South Africa, this really is the service for you! You’ll have no problem transferring money.
You can send money using a payout method that suits the person receiving it
Follow these steps on the Money app or Online banking:
- Navigate to Transact, Pay, International Payments and Send Money.
- Select the account from which to make the payment.
- Enter the details of the recipient.
- Enter the reason for the payment and the amount.
- Accept the quotation and the terms and conditions.
- Accept the Approve-it message
- After the success notification, you can share the Money Transfer Control Number (MTCN) with the recipient so that you can both track the payment.
You can send the following rand currency limits based on your residency:
Residency |
Daily limit (ZAR) |
Monthly limit (ZAR) |
|---|---|---|
R5,000 |
R25,000 |
|
R2,000 |
R25,000 |
|
R80,000 |
R80,000 |
Features and benefits of using money transfer
Recipients of money transferred using Nedbank and Western Union services enjoy 2 huge benefits:
- Security: Beneficiaries can only collect the money with the MTCN. Money can also be sent directly to a bank account or mobile wallet in selected countries.
- Speed: Money is available for pick-up within minutes.
There are numerous benefits for those sending the money, too:
- Convenience: Western Union money transfers on the Money app or Online Banking are easy and secure.
- Instant access: You can send money using these digital banking channels 24/7.
- Flexible payouts: You can send money using a payout method that suits the person receiving it – the money can be deposited into a bank account or mobile wallet (where this option is available) or paid in cash at an agency.
- Choice of payment source: You can send the money from any Nedbank current or savings account.
- Global coverage: You can send money to be paid at more than 500,000 agent locations in over 200 countries and territories.
- Repeat transactions: You can save your beneficiary’s details for quick and easy repeat transactions in the future.
If you’d like to know more about sending money with Nedbank and Western Union, call us on +27 800 555 111, or email westernunion@nedbank.co.za.
