The paper “ Western Union – History, Operational Structure, and Services Provided” is a comprehensive example of the case study on finance & accounting. The company was founded in 1851 and has continued to fill the gaps that exist in the financial sector in the world today. The company offers financial services to over 200 countries in the world. The company has a base of more than 515, 000 agents in the world and also more than 100, 000 ATMs worldwide (WU Website). The company’ s portfolio includes offering business solutions to its clients, offering the means through which consumers transfer money among themselves (consumer to consumer), services like bill payments among others like stored value through prepaid cards.
Therefore, the company continuously aims at moving money from one location to another, anytime and anywhere that its customer wants. It is in this regard that Western Union is considered among the global company in the financial service industry for its dedication in the process of offering standard end to end services on the globe and thus transforming the lives of its clients. Services provided by Western UnionThe services offered by Western Union are classified into 4 main categories which are discussed below; Sending and Receiving of MoneyWestern Union clients are able to send and receive money regardless of their location for the organization has strategically positioned itself in big cities and also in small villages.
The option of sending money is made possible via phone, online, or through the use of a credit or a debit card (Kramer 1). The company’ s clients are offered various options when it comes to receiving money and they include; receiving the money at home, which involves a customer personally going to a Western Union agent and filling in forms and then the money sent to him or her by the sender is made available.
Other options include; through a client’ s bank account, a type of service called a wallet which entails an account which is tied to a mobile phone, more so-referred to as a mobile wallet.
Kramer Hilary. Western Union: Moving Money to Make Money. Web. 5th October, 2013. Accessed from, http://www.forbes.com/sites/hilarykramer/2013/05/10/wu-stock-report/, Accessed on 3rd December, 2013.
Risen Tom. CIA Spying on Money Transfers could Stifle U.S. Business. Web. 15th November, 2013. Accessed from, http://www.usnews.com/news/articles/2013/11/15/cia-spying-on-money-transfers-could-stifle-us-business, Accessed on 3rd December, 2013.
Western Union Website. http://corporate.westernunion.com/index.html, Web. 3rd December, 2013.