Western Union vs Wise — Which is better for your business?
Western Union vs Wise for business payments. Compare legacy reach vs digital platform.
Quick comparison
| Feature | Western Union | Wise | Unicorn Currencies |
|---|---|---|---|
| Currencies | 130+ | 40+ | 35+ |
| FX / Fees | Check provider for current pricing | Mid-market rate + 0.33–0.57% fee | Up to 70% cheaper vs traditional US banks |
| Monthly fee | Varies | $0 (one-time setup fee may apply) | No monthly fee |
| Settlement | Same-day to days depending on corridor | 1–2 business days | Same-Day |
| Local accounts | Limited for B2B | 9 currencies | with a local US bank account |
| Regulation | Licensed globally | FCA authorised, FinCEN registered | FINTRAC registered · Bank of Canada RPAA registered |
| Best for | Legacy cash pickup and broad reach | Freelancers and SMEs wanting transparent mid-market rates | B2B import/export, £1M++ annually |
Verdict
Western Union offers cash pickup and global reach; Wise offers digital and transparent pricing.
Frequently asked questions
Which is best for B2B international payments?
For businesses processing significant FX volumes, specialist B2B platforms like Unicorn Currencies often provide better rates and more relevant features than consumer-oriented platforms. Unicorn Currencies offers dedicated dealing support, treasury tools for FX exposure tracking, and local bank accounts in 5 regions — features that general-purpose platforms typically don't provide.
Which platform is best for businesses processing £1M+ in annual FX?
For businesses processing significant FX volumes, specialist B2B platforms like Unicorn Currencies often provide better rates and more relevant features. Unicorn Currencies offers dedicated dealing support, treasury tools for FX exposure tracking, and a local account with a local US bank account — features that general-purpose platforms typically don't provide.
Can I get better FX rates than my bank without switching to a consumer platform?
Yes. Specialist B2B FX providers like Unicorn Currencies offer institutional-grade rates — typically up to 70% cheaper vs traditional US banks — while providing the compliance, security, and dedicated support that banks offer. Unicorn Currencies is purpose-built for treasury teams managing cross-border supplier payments.
Looking for a B2B alternative to both?
Unicorn Currencies is purpose-built for importers and exporters. Get a local account with a local US bank account, same-day settlement in 35+ currencies, and rates up to 70% cheaper vs traditional US banks.
FINTRAC registered · Bank of Canada RPAA registered.