Western Union’s price drop is grounded, SKB-Bank says

11 September 2008 (08:39)

Western Union, one of the oldest money order systems there is, came up with a list of countries in the near abroad where people send money most often and offered reduced fees on them, SKB-Bank’s PR Department reports.

The list includes Armenia, Azerbaijan, Georgia, and Ukraine. Having looked into the figures, Western Union both decreased the commission it charges on a money order and took them off the list of countries of the far abroad.

Kyrgyzstan was also reported to be one of the major money order receivers among the former Soviet republics. The system’s analysts even created a special rubric for this country and offered great discounts on the money orders bound for Kyrgyzstan. If you send 25,000 RUR there, for instance, the commission will only come to 600 RUR.

‘The down-pricing within these countries’ range is quite reasonable. A lot of these money orders are made by foreign workers who send the money they made in Russia to their families. There are also businesspeople that pay for the goods they’ve bought abroad. In addition, more and more people are using the system to provide their relatives with money needed for medical care, a vacation, or study,’ says SKB-Bank’s Sales Support Director Denis Belogurov.

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