Western Union

Western Union is a fast international remittance method, commonly used for small foreign trade payments such as sample fees or deposits. Its key feature is that no bank account is needed; the sender only provides the recipient's name and country, and funds can arrive within minutes. The recipient withdraws cash at a Western Union location or agent using an ID and the MTCN (Money Transfer Control Number). Use cases: suitable for urgent, small foreign trade payments, especially when dealing with unfamiliar or uncertain-credit customers. Cautions: fees are relatively high, usually borne by the sender; there is fraud risk, so verify the sender's identity; China imposes a $50,000 annual foreign exchange settlement limit per individual; it cannot be used for large trade settlements. Difference from T/T: Western Union is faster but more expensive, has lower limits, and does not go through the banking system, making it hard to trace; T/T is suitable for large, traceable amounts but arrives more slowly. Difference from PayPal: Western Union requires no registration but lacks buyer protection. In foreign trade, use it cautiously and only for small advance payments.