The solution helps to eliminate fees for incoming foreign payments
Western Union has launched WU Incoming Payments for Legal, aimed to help small and medium-sized law firms manage the administration and foreign exchange volatility. The solution which is currently available in the US addresses law firms who incur bank processing fees with incoming foreign payments.
Besides, the launch of the law firm’s invoicing system through Western Union Business Solutions enables firms to invoice an overseas vendor in their local currency. Afterward, the payment is directed to a Western Union Business Solutions account held in the local currency, eliminating currency exchange volatility and bank fees.
As long as Western Union Business Solutions receives payment from the law firm’s vendor, it initiates the process of moving the foreign currency to the law firm’s account, crediting the firm’s account in USD.