With services like Xoom, Muncha and IME, I think it is waste of money to use old wire transferees like Western Union and Money Gram. WU and Moneygram are only good for instant/urgent needs like sending money to my incarcerated brother in correction agency or if I did not have a bank account or if my wife needed money right now in Nepal. Just stereotyping but Old Banks and Financial Institutions have made billions. All downtown building from Shanghai to Sioux Falls are owned by banks and wire agencies.