Another invention of Western Union - time synchronization. One of the common kinds of money transfer is a transfer via the international system of Western Union. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. 1970 - a new service called The Western Union Company is a financial services and communications company based in the United States. All you need for sending money via Western Union is to go to the nearest branch of Western Union, fill out the transfer printed form, show your passport and then send money.