The Western Union platform will stop conducting money transactions within Russia from April 1 this year.
The company announced this in a letter to its partners. The reason for this step of the company is as simple as possible: low demand for the service due to the high popularity of other methods of money transfer. True, the company did not disclose specific data.
The company focuses on the development of the traditionally demanded service of international money transfers and continues to develop a multi-channel platform that allows Western Union partners to quickly and in compliance with all regulatory requirements to launch transfers abroad for their clients.
It will be possible to send a transfer within Russia until March 30 inclusive, and March 31 will be the last day when the transfer can be received. In addition, on March 24, the company will reduce the transfer limit to 5,000 rubles. At the same time, cross-border transfers will work as usual.
Source: ixbt
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
