Western Union Joins Forces with Suhyup Bank, Expands in South Korea

Western Union has announced a partnership with Suhyup Bank to offer international money transfer services. This will connect its customers in South Korea to the ones overseas.

This collaboration means that customers can send Western Union money transfers from around 130 Suhyup Bank locations and more than 220 sub-agent locations in South Korea. The plan is to scale up to 480 bank and sub-agent locations by the end of this year.

"Suhyup Bank is a bank steeped in innovation and we always do our best to meet customers’ needs through a variety of financial products and services," said Jooeun Lee, Head of Global Banking Department, Suhyup Bank. "We are glad to collaborate with Western Union, enabling us to expand our portfolio of services and cross-border reach and bringing customers greater ease and confidence as they send money to their loved ones abroad."

This partnership will help customers move funds for cross-border money transfers, enabling payout in cash across more than 200 countries and territories and into bank accounts and wallets in select countries worldwide.

"At Western Union, we are driven by collaborations that drive global connectivity and support our mission of moving money for better," said K. Premmananth, Head of Singapore, Indonesia and North Asia for Western Union. "We look forward to a successful collaboration with Suhyup Bank, expanding access to money transfer services for customers in South Korea."

 

Western Union Recommences Afghanistan Money Transfers and Waives Transfer Fees

Western Union, one of America's most renowned multinational financial services companies which had to suspend all forms of money transfer and payment services in Afghanistan last month as the Taliban took control of the country following the withdrawal of US-NATO forces, has now announced that it will resume its money transfer services into Afghanistan, and it will start from September 3.

The financial services company has stated that it is restarting its money transfer program so that its customers can once again send money and care for their loved ones at this crucial time of financial crisis in Afghanistan. Remittances from Afghans who currently reside abroad can now easily transfer money. The money transfers will be paid out in US dollars or Afghani, based on the type of the transfer as per the sender's requirement.

Western Union has further added that the payouts are available in only select locations based on local operating times, and most of the transfers will happen in the Kabul area. The firm has also confirmed that other outbound services, such as sending money from Afghanistan to other countries will remain suspended at this time.