Western Union: Restrictions on money transfers from Turkmenistan imposed by local banks

On 17 July new restrictions on making money transfers from Turkmenistan via Western Union were announced on the website of Chronicles of Turkmenistan.

Following the publication, a representative of the company contacted our editorial board to refute reports that Western Union has imposed restrictions on money transfers.

The official position of the company is as follows:

As of today services of Western Union in Turkmenistan are being provided through a network of partner banks.

Partner banks provide their services pursuant to the bank license in full compliance with international regulations and procedures. Consequently, it is the banks which impose restrictions on money transfers in order to comply with local laws.

As regards Western Union, it does not impose any special restrictions in Turkmenistan as to the amount of money transferred or the number of money transfers made by one person.

The only requirement Western Union sets for partner banks for making money transfers from Turkmenistan is presenting a valid ID, approved by national legislation, by a sender.

In order to clarify the requirements established by specific banks, you should contact the banks of the country directly.

Western Union always conducts business in full compliance with the national legislation of the countries or territories where it is operating.

Source: Chronicles of Turkmenistan