International wire transfer: you get to choose the currency

Today in the world where everyone is involved in different types of economic relationships, where one of the most widely used operation is money transmission. it’s clear that the most cost effective way is to transfer the money within one country in its particular currency but when it comes to international wire transfer, for instance, some people face the problem of currency choice.

At this stage the majority decides that USD wire transfer is the most suitable way to send the money without even considering other currencies, because it’s stable, well-known, wide-spread, it’s a monetary standard after all!

Well, that is true, but you should know that there are other currencies that also possess some pros. For example, euro wire transfer is cheaper and faster. To make it much easier to understand the difference, we will try to explain the way how international wire transfer is carried out.

Western Union is absorbing MoneyGram, isn't it?

According to some unofficial sources of information, the world's leading money transfer system Western Union has announced the fact of the acquiring MoneyGram International Inc. Negative financial showings of the last one have become the reason for this decision. MoneyGram reported that the annual revenue has decreased by $72 million.

In addition to the customer base, Western Union will also receive MoneyGram company debt, which is equivalent to $960 million. The market value of the company at the moment is $415 million. To compare, Western Union capitalization exceeding $ 11 billion, the shares of which has recently increased by 6%.

The present MoneyGram owners are Thomas H. Lee Partners company and Goldman Sachs banking group. The owners of both companies are declining to comment the course of events, however it is known that the conversation about MoneyGram absorption by Western Union is at the early stage and the process has already been started.