Western Union and false exchange rates?

This transactions was originated in the UK. You need to ask your own politicians how they allow this free enterprise activity to occur.

Every exchange house sets its own rates. Competition dictates that the rates be similar from one business to the next, but this is not dictated by law.

It is like the price of Nike shoes. Does every business have the exact price? No. It is up to the consumer to decide if he wants to pay that price or not.

You should have received about $3600-3700 USD for your 2500 pounds. You say you were shorted 1000 USD, that means you only got about 2500 USD.

I just checked the Western Union, United Kingdom, website. They indicate that if you send 2500 pounds you would have approximately 3400 USD less any fee you pay. While that is expensive, it doesn't sound outrageous for the exchange rate, but when you consider the outrageous fees that Western Union charges, that isn't good at all.

Most people send sums of money through their banks because it is cheaper and sometimes faster.

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RE :Western Union and false exchange rates?

Western Union just ripped us off for close to 1,000 USD on 2500 pounds sent from England! It appears this company is allowed to set it's own, much lower exchange rates, and get away with THEFT!

Anyone else out there had this happen, I googled it, and found there have been several class action suits against them. How to start one in New York??

How can the US government allow this "legal FRAUD" to go on??

Update: I got 3,300 per 2,500 pounds, I was quoted 3,800 from the exchange house, as well as several web sites giving me the lowest anount of 3,588.25 usd even at the lowest exchange amount that is a loss of 576.50 on the two transactions.

The Western Union Fee is paid on the front end, and not included in the 2500, so they are getting away with theft, I am in the process of attorney hunting for a class action suit, Western Union has lost class actions suits for the same thing in California as well as Texas, hopefully New York will follow suit!

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