Put cash to Georgian bank accounts by WesternUnion

[Marie Manila]

Hello,

recently I found out that accounts in Georgia can be topped-up by Western Union.
They ask for a Money Transfer Code in their internet banking.
If I usually do a transfer with Western Union to a bank account, WU already ask for bank details (IBAN, BIC) of the recipient. So you don't need a Money Transfer Code.

I think the Money Transfer Code is only used, when you make cash transfers (sender brings cash, receiver picks up cash).

Is it really possible to bring cash to a Western Union branch in any country and fund the bank account with that?

Has anybody used that already?

 

[Risehigh]

Hello,

recently I found out that accounts in Georgia can be topped-up by Western Union.
They ask for a Money Transfer Code in their internet banking.
If I usually do a transfer with Western Union to a bank account, WU already ask for bank details (IBAN, BIC) of the recipient. So you don't need a Money Transfer Code.

I think the Money Transfer Code is only used, when you make cash transfers (sender brings cash, receiver picks up cash).

Is it really possible to bring cash to a Western Union branch in any country and fund the bank account with that?

Has anybody used that already?

Interesting topic

 

[Sols]

I don't know about Georgia specifically, but this is possible in some countries with some banks in Africa, Asia, and Latin America. You can indeed bring cash to Western Union or other money remittance services and wire it directly to a bank account. They will perform KYC on you then and there, and you're usually limited to rather paltry sums of money (a few hundred EUR/USD at a time, per day/week).

Money remittance is a massive business, especially among expat workers sending money back home.

 

[Marie Manila]

But at the local WU branch I have to say "The money will be picked up by cash", don't I?
Otherwise I won't get the Money Transfer Code.

 

[Sols]

It depends on what relationship WU has with the recipient. At some exit points, you can deposit to beneficiary's bank account, prepaid card, or even pay invoices and top up prepaid SIM cards for them remotely.