In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. The size of the commission fee for the transfer is charged according to the Western Union tariffs and depends on the amount of money sent. To obtain the Golden card can any client of Western Union, committing money transfers on this system more than 1 time per year. Getting the card is issued at the time of making of the next transfer. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). 1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. The Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.
To obtain the Golden card can any client of Western Union, committing money transfers on this system more than 1 time per year. Getting the card is issued at the time of making of the next transfer. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). The size of the commission fee for the transfer is charged according to the Western Union tariffs and depends on the amount of money sent.