If you’re on the hunt for an international money transfer service, Western Union and Ria are two popular options worth considering. Both are long-standing companies known for helping customers securely send money around the world. You can choose either and will be able to set up a transfer online or in person from almost anywhere. But which is best for your needs?
Read on for a breakdown of Ria money transfer vs. Western Union. We’ll compare everything from reach and availability to transfer speeds, costs, and security.
Key takeaways
- Both Western Union and Ria allow for money transfers in over 190 countries.
- Western Union tends to offer lower transfer fees.
- Transfer speeds are comparable, typically ranging from a few minutes to up to six business days for bank account transfers.
- Western Union’s digital presence is more advanced and feature-rich than Ria’s.
- Both companies safeguard customer data and funds using encryption, identity verification, and multi-factor authentication.
Comparing reach and availability
Western Union and Ria are two leaders in the international money transfer space, similar in size and reach. Each has over 500,000 physical locations worldwide, which include presences in independent partner businesses like grocery stores, post offices, and other retailers.
Both services allow transfers both online and in-person. Ria supports transfers to 190+ countries, while Western Union serves 200+ countries.
Ria vs. Western Union: Exchange rates and fees
On the cost front, both Ria and Western Union typically charge exchange rate markups and a fee per transfer. The exchange rate applicable to a specific transfer can vary depending on factors such as the currencies involved, the chosen payment method, and the chosen delivery method. Additionally, transfer fees can vary depending on the payment method and the countries involved. So, which company is more expensive?
Ria’s fees tended to be higher than Western Union’s. For example, when transferring $100 from the US to Mexico, Western Union didn’t charge a fee on transfers funded with a bank account or debit card. Ria, however, charged a $3 fee for bank-funded transfers and $5 for transfers funded with a debit card. Western Union also offered slightly better exchange rates for online transfers, but slightly worse rates for transfers initiated in-store. While the difference in the exchange rate markup can seem small, it can add up as transfer amounts increase.
Transfer speed and delivery options
Money transfers can take anywhere from a few minutes to six business days with both Western Union and Ria. The speed that applies to a particular transfer depends on the sender’s payment method, the delivery method, and the locations of the sender and recipient. Generally, international transfers and those involving banks take longer, while domestic transfers and those without bank involvement process faster.
With Western Union, a transfer can be delivered to a pickup location within minutes when the sender funds the transfer using a non-bank payment method (e.g., cash, debit card, credit card, Google Pay, etc.). However, transfers made to or from bank accounts can take up to four business days, and bank-to-bank transfers can take up to five.
Ria transfers paid from a bank account also tend to take several business days (up to six), while transfers paid using a non-bank method can be completed within minutes.
As for delivery methods, both companies offer to deposit transfers into bank accounts, mobile wallets, debit cards, and brick-and-mortar locations for cash pickup. Western Union also offers its own prepaid debit card, where transfers can be sent. Ria offers home delivery in some countries. However, the delivery methods available for any particular transfer can vary depending on the recipient’s location.
Comparing the digital experience
Western Union and Ria both offer digital experiences that include online portals and highly-rated mobile apps. When reviewing the two, you’ll find that each allows for the basic functions of sending and tracking transfers, saving recipients, finding agent locations, saving payment methods, and getting customer support.
However, the Western Union mobile app offers far more functionality, such as the ability to pay bills, open a prepaid card, send money to inmates, earn rewards, track your referrals, and build credit.
Ria vs. Western Union: Reliability and trust
When you’re using an app or website to transfer money around the world, you need it to be secure. Both Western Union and Ria take the following steps to ensure your data and funds are protected:
- Multi-factor authentication (MFA): Users must provide multiple forms of verification to access their accounts, such as a password and biometric data.
- Encryption: Both companies use Transport Layer Security (TLS) and Secure Sockets Layer (SSL) to secure data in transit. They also incorporate tokenization and, in some cases, end-to-end encryption to protect sensitive information.
- Identity verification: Senders and recipients must verify their identities using government-issued documents like a driver’s license or passport. For larger transfers, Western Union also requires additional documents to confirm the sender’s occupation and source of funds.
Both companies have long-standing histories in the money-transfer space, which speaks to their reliability. Western Union has roots dating back 160 years, and Ria is approaching its 40th anniversary.
Why choose Western Union vs. Ria
When comparing Western Union vs. Ria, Western Union pulls ahead in a few areas. For starters, you’ll immediately feel the difference in Western Union’s digital experience when you log in to its website or mobile app. Beyond the basic functionality needed to manage money transfers, you’ll find perks ranging from Western Union’s Rewards to being able to build credit while sending money.
Western Union also has the reach, speed, and security users need, alongside competitive rates that often beat Ria’s—especially for online transfers. Overall, it’s a company that has stood the test of time for a reason. But it doesn’t hurt to shop around and compare rates to see which company offers the best deal for your particular transfer.
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FAQs
Yes, Ria has as many payout locations as Western Union. Both have 500,000+ pickup locations around the world.
Ria offers transfers that can be completed in as little as 15 minutes, while Western Union’s fastest transfers are completed within minutes. To qualify for a fast delivery with Ria, transfers must be funded with a non-bank method, such as a credit card or debit card.
Ria’s transfer fees and exchange rates tend to be a bit more expensive than Western Union’s when you’re paying for a transfer online. Ria’s online presence is also relatively basic, lacking many of the extra features and customer rewards Western Union offers.
Western Union is a trusted money service provider with roots dating back over 160 years. It serves nearly every country in the world, offers competitive pricing and transfer times, and has strong security measures.
