The Banking Company behind the Western Union Casinos has existed since the dawn of the telegraph age. Since Western Union pretty much dominated the nineteenth centuries wire communication, anyone who has seen a western film with a telegraph office has seen depictions of Western Union. Nowadays, Western Union handles money orders and wire transfers and it is considered one of the financial services providers with the most reliability in the online gambling business. Initially founded in 1851, Western Union is currently traded on the New York Stock Exchange under the “WU” call letters.
Western Union has been, and it is still one of the most reliable companies for electronic money transfers. People keep sending money with the use of Western Union through their Money In Minutes and Next Day services. They are not the same as the e-wallet services, but this cash transferring method is used by more internet casinos, poker rooms and sportsbooks than even Visa and MasterCard. Let us proceed further on our page about Western Union Casinos.
Available online even for the players in the USA
Internet casinos such as Win Palace Casino and Bovada allow deposits made by Western Union. This is a very decent option for the US players using Western Union because these online casinos accept American players. The transaction fee is 3.95 dollars, and the minimum amount that can be sent is five dollars.
Customers who would like to have a faster service can buy a prepaid debit card by MasterCard, which will cost them 4.95 dollars per month. In case you have a direct deposit in your bank account, you are exempt from this fee.
Whenever you use Western Union, you have the availability of payment online option with more than two hundred and seventy thousand terminals and Outlets all over the world. Their customer support representatives are true professionals, and they provide the most trustworthy and secure service on this planet.
The Western Union has been providing banking service longer than all of its competitors. Some of their methods may appear somehow anachronistic to the people who grew up with Skrill and Neteller, but those people who have a preference for security instead of convenience should always use the services of Western Union.
The advantages of the Western Union online casinos
On this WU Casinos page, we should say that whenever you use an online casino accepting Western Union, you can receive and send money in a pretty quick manner. Currently, Western Union comes with free mobile applications and eGift cards that you’re able to send everywhere, including internet casinos.
Also, large money transfers are allowed, for example, the instant ten thousand dollars transfer with very competitive foreign exchange rates. The FX solutions by Western Union are actually among the truly best in the industry.
In some cases, it might be slower to make payments by Western Union compared to web wallets and credit cards, and the reason is that Western Union puts a very strong focus on consumer security. It takes just a little more time in order your security to be assured, and in some cases, Western Union prefers to be almost paranoid. Because of this, there have been a lot of complaints from some users when a Western Union employee does not use common sense in regards to some policies, however, because of this, the identity thieves would have a really difficult time breaking into your Western Union account.
Speedpay and Bidpay
The e-wallet service by Western Union was previously called Bidpay, and it used to compete with PayPal, but it is already discontinued. Instead, you can make Internet deposits and get withdrawals through their Speedpay.
One wonderful benefit with this option is that you are not signed up for alerts, e-mails or special programs. Of course, they can be useful sometimes, but the majority of people consider the inundation of emails adds as an intrusion of their privacy and pretty much spam.
The revenues and assets of Western Union
Western Union is currently a billion dollar company. Their 2010 reported earnings were more than five billion, and when it comes to the same year, their total assets were almost eight billion. The headquarters of Western Union have been in several locations all over the USA throughout the years after the WU founding Rochester, New York. The headquarters were in Manhattan for many years, but the company is currently based in Englewood, Colorado.
The Western Union founders
Western Union was founded by Ezra Cornell and Hiram Sibley. Western Union was founded by those two guys in the 1840s, working with Samuel Morse. Hiram Sibley was The prominent figure in this group which was responsible for the creation of New York and Mississippi Valley Printing Telegraph Company in Rochester – the Telegraph was the most innovative technology for communication at that time.
The response within the industry came by Ezra Cornell, who created their rival, the New York and Western Union Telegraph Company. Subsequently, Ezra Cornell was responsible for placing the telegraph wires extending from Baltimore to New York City for Samuel Morse, and because of this, he got 1/4 percentage of the ownership of the patent for the telegraph, for his services.
Similar to the railroad companies history; the two rivals started building infrastructure for Telegraph Communications all across the continent in a continuous race to beat one another. However, by 1855, both of them got the realisation that they can continue only if they merged.
Ezra Cornell insisted the new company be named Western Union. He received two million dollars in stock in the company, and he later became most popular for Cornell University, the Ivy League university bearing his name.
By the beginning of the Civil War, the lines built by Western Union stretched all across the United States – from the Mississippi River to the East Coast, and from the Ohio River Valley to the Great Lakes. After the Civil War, western Union attempted to launch operations in Europe, but after two fruitless years, the endeavour was abandoned.
On the other hand, the company grew by more than ten thousand percent between 1858 and 1876. In the old west time and the great move toward the frontier, it was the Western Union which allowed the communication of people from the East to the West Coast of North America.
Despite their tremendous Revenues at the time, reaching forty-one million in the middle of the 1870s, the company suffered a big amount of stock issues. The control of Western Union was taken by Jay Gould, also famous as the robber baron in 1881.
The innovations of Western Union
Throughout several generations, this company has been a great innovator in World Communications. They have been responsible for many pioneering features:
The stock ticket in 1866, the money transfers in 1871, the consumer charge cards in 1914, the teletypewriters in 1923, the singing telegrams in 1933 and the intercity faxes in 1935. Also, Western Union kept growing in the early to mid-twentieth century, and it was the first company to have their Fleet of geosynchronous satellites in 1974.
In the 1980s and 1990s, Western Union went bankrupt and faced leveraged buyouts because the company was struggling to keep up with all the Innovations. Their outdated Telegraph service was sold while the company was purchased and its name was changed to New Valley LLC in 1991. In 2006 there was a spinoff into their service for wire transfers which continues to operate until present. The new Western Union provides electronic cash transfers, and it is a subsidiary of New Valley Llc.
Posts on the Web
- What you Need to Know to get Money Back (Western Union Fraud Settlement)
- Western Union Holdings Lifted by Pitcairn Co. (Securities & Exchange Commission)