just a question

[bummer]

Hello everyone, I work for a company that is a Western Union agent. I am just a Customer Service Rep. I go to work everyday hoping that the dinar revalues just like everyone else. My question is for anyone that understands Western Union and how it works. I wire money everyday to various countries all over the world, something interesting about sending money to Iraq from Canada is that they can only receive it in dinars. Some other countries offer both their local currency and the USD. Now I have no sources and I am not a computer wizz I am trying to decipher good and real info from all the crap that is posted here. I check the rates daily on Western Union to see if there is any major change, do you think that if the rates were to change that Western union would be updated immediately? And this could be a good source for me to obtain accurate information from?

[fnbplanet]

Gee, never thought of that. I suppose that they would suspend transfers until they could adjust. Questions for you:

1. How would the VALUE of a currency affect what was being sent? If I send 1000 dinars, whether it's worth $3 or a tenth of a cent, what's the difference?

2. How are other currency changes handled? There might be some information about this in your employee manuals.

[Dalite]

Hello everyone, I work for a company that is a Western Union agent. I am just a Customer Service Rep. I go to work everyday hoping that the dinar revalues just like everyone else. My question is for anyone that understands Western Union and how it works. I wire money everyday to various countries all over the world, something interesting about sending money to Iraq from Canada is that they can only receive it in dinars. Some other countries offer both their local currency and the USD. Now I have no sources and I am not a computer wizz I am trying to decipher good and real info from all the crap that is posted here. I check the rates daily on Western Union to see if there is any major change, do you think that if the rates were to change that Western union would be updated immediately? And this could be a good source for me to obtain accurate information from?

If the money must arrive in Dinar, and you are taking Canadian Dollars, your company would have to know how many dollars to buy how many dinar. The rate would have to be updated for that to happen.

WU obviously used some bank or financial institution as a clearing house, and they should definitely know, and update your system before money is lost.

Good call; I think you are onto something...

[Roadie]

How's that poor Iraqi gonna feel when (s)he buys groceries for 50,000 dinars the day before the RV?

[proteus]

the reason why money can only be sent to Iraq in Dinars is:

That Iraq does not have an internationally trade-able currency yet...

It is still under sanctions, once it becomes internationally trade-able,

then money transfer companies like western union will facilitate exchanges,

from whatever currency to whatever currency (IE: from Canadian to IQD)

This is my opinion of the situation...

Proteus

[bummer]

Basically to try and answer your question, we just access the Online Western Union screen which is somehow connected to our point of sale system (told you I am not a computer wizz) we plug in how much our customer is sending in canadian $$ and the system converts it to the amount of dinar they will receive based on the daily rate, so as of yestersay I plugged in 1 canadian dollar and the person receiving it would get $1135 dinar at a cost to me of $12.00 as it costs an $11.00 fee to send it. Hope this answers your question.