Have you noticed a mysterious “WUVISAAFT” charge in your bank statement? You must be confused and wondering why the charge appears in your bank statement.
Western Union(WU) is a global financial services institution that offers safe and quick money transfers possibly anywhere in the world. With perpetual innovation and solutions, it has maintained its place in the constantly evolving global finance sector.
However, it is a matter of concern, and need to know about the charges that appear in your bank statement. Here in this article, we will provide you with a guide to navigate this common issue.
What Is A “WUVISAAFT” Charge?
“WUVISAAFT” is not just a single word so it does not have a proper meaning. But it holds great value and meaning in the financial sector. Let us understand what the collection of 9 letters means:
- WU – statnds for Western Union.
- VISA – stands for a Visa Credit account.
- AFT – Account Funding Transaction.
It is difficult to understand, but we will simplify it for you. So, Western Union is a global financial institution that specializes in transferring money anywhere around the Globe. A “WUVISAAFT” is a charge that is applied when you make a transaction through Western Union using any Visa Card.
What Are The Reasons For The Appearance Of The “WUVISAAFT” Charge?
“WUVISAAFT” is an abbreviation or a code that is used by Banks to arrange credit transactions made via Western Union. You do not necessarily require the credit Card Of Western Union to make the transfer. You should contact your bank if you haven’t made any transactions.
If the “WUVISAAFT” charge appears in your bank statement it means that you have made a transfer through Western Union using any Visa Card. The charge is completely legitimate and there is nothing to be worried about. Western Union makes money by charging fees from the people to exchange money and transfer funds.
Also, read What Is AVR INC Charge On Credit Card? Is It Scam Or Legit?
Are There Any Ways To Avoid the “WUVISAAFT” Charge?
If you notice a “WUVISAAFT” charge but have not used your credit card to pay any bill or transfer funds, it could be a scam or an accidental case. In that situation, you can contact your bank to report the case and ask for further assistance.
Western Union does charge a fee to transfer money around the globe and exchange the currency. But if you want to avoid these charges you can try other methods to transfer money. To transfer money without paying any extra fees, try to transfer money via online mode using a direct transfer option from the bank.
Frequently Asked Questions
How Long Does It Take To Transfer Money Through Western Union?
In the case of Domestic money transfers through Western Union, it will take a maximum of 24 hours. Whereas in the case of International transfers, it generally takes 1 to 5 business days.
What Is The Maximum Sending Limit Of Western Union?
You can send a maximum of 50,000 USD with Western Union but for that, you must verify your identity online.
Conclusion
In conclusion, Unknown charges on your bank account can be disturbing and upsetting. But you can address the problem by responding to it wisely. You can improve your security against scams by being alert. You will get all the information regarding the “WUVISAAFT” charge and hope that helps in in solving the problem.
Nyra handles business research, writing financial documents, news items, articles, and study materials about finances.