Western Union has launched a new incoming payment service for small and medium-sized law firms in the US.
The new solution is created to help law firms streamline the administration and foreign exchange instability associated with foreign invoices.
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Dubbed WU Incoming Payments for Legal, the solution helps law firms eliminate the bank processing fees incurred from incoming foreign payments and receivables.
The solution is currently available in the US.
How it works
Law firms can set up their invoicing system through Western Union Business Solutions (WUBS) and invoice an overseas vendor.
All the payments made by the vendor are sent to the WUBS account in its local currency.
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By GlobalDataOnce WUBS receives the payment, it converts the foreign currency and credits into the law firm’s account in USD.
This process helps eliminate currency exchange volatility and bank processing fees.
Founded in 1980, WUBS works with more than 700 law firms globally.
It provides end-to-end payments solutions to simplify complicated payments processes and drive efficiencies.
Western Union’s network includes over 550,000 retail agent locations across more than 200 countries and territories, with the capability to send money to billions of accounts.
