Compliance and Legal
Western Union Business Solutions is a business unit of the Western Union Company and provides services in Italy through its wholly owned subsidiary, Western Union International Bank GmbH, Italian Branch.
Western Union International Bank GmbH, Italian Branch (WUIB) (Registered Office in Rome: via Virigilio Maroso 50, 00142 Italy; Fiscal Code and Companies House Registration number: 13068651002; Enrolled in the Bank Register held by Bank of Italy (no. 3446)), is a branch of Western Union International Bank GmbH, a company organised under Austrian Law (registered at the Vienna Commercial Court, Commercial Registry Number: FN256184t; Sales Tax Identification Number: ATU 61347377; Registered Office: The Icon Vienna (Turm 24), Wiedner Gürtel 13, 1100 Vienna, Austria; Corporate Capital: €12.000.000; Sole Shareholder (and therefore subject to the direction and coordination activity of): Western Union Overseas Limited) and which is a bank registered on a list of banks maintained by the Austrian Financial Market Authority (Finanzmarktaufsicht).
Western Union International Bank GmbH (WUIB) qualifies as a financial advisor in the meaning of EU Regulation 2019/2088 on Sustainability related Disclosure Requirements in the Financial Services Sector (‘SFDR”). WUIB does not qualify as a market participant in the meaning of SFDR. WUIB neither issues, sells nor provides advice with regards to Financial Products in the meaning of SFDR.
Therefore SFDR rules addressing market participants and financial products do not apply on WUIB at the moment.
Terms and Conditions
Please click here for WUIB’s Terms and Conditions: Terms and Conditions.
Please click here for WUIB’s Terms and Conditions for derivative contracts: Terms and Conditions Supplement Applicable to Forward Contracts, Options Contracts and Future Payments Transactions.
Financial Services Guide
Please click here to access WUIB’s Financial Services Guide, which will provide you with general information about WUIB, and the services it provides: Financial Services Guide.
Product Disclosure Statement
Please click here to access WUIB’s Product Disclosure Statement for Foreign Exchange Transactions, which will provide you with a detailed description of the types and characteristics of the products and financial instruments WUIB offers as well as the associated risks and costs: Product Disclosure Statement.
Key Information Documents - OTC Financial Derivatives
Pursuant to MiFID II and EU Regulation no. 1286/2014, WUIB is subject to strong transparency requirements in relation to its Structured Options products. For this reason, WUIB has prepared Key Information Documents for each of its Structured Options products. The Key Information Document illustrates the type of product and its characteristics, the hedging purposes, the advantages and disadvantages, the risks as well as the potential costs of buying and selling before the expiry and possible revenues in different market scenarios. WUIB invites you to view the KID related to each Structured Option product, before negotiating any new operation. Key Information Documents are available here (in Italian).
Forward Contract Fee Disclosure
Please click here to access WUIB’s Forward Contract Fee Disclosure document, which explains the costs and charges that may be incurred when entering into Forward Contracts with WUIB.
Deposit Protection Scheme
Please click here to access WUIB’s information sheet for depositors: Deposit Protection scheme.
Payment Purpose Exemption
Please click here for an information sheet on Payment Purpose Exemption.
Markets in Financial Instruments Directive
Please click here to access WUIB’s information sheet on the Markets in Financial Instruments Directive and related Regulation.
European Market Infrastructure Regulation
Please click here to access WUIB’s information sheet on the European Market Infrastructure Regulation.
PSD2 Open Banking Solution
For Third Party Providers, please click here to obtain information on how to integrate with WUIB.
Vigilance over transactions (International Sanctions)
In accordance with our legal obligations, we take account of national and international financial sanctions, specifically European regulations and American sanctions, targeting various persons and entities, as well as several countries throughout the world. Any transaction which directly or indirectly concerns a party or country that is subject to sanctions is stopped by our systems and flagged for approval. Some transactions may be postponed, refused or blocked by the authorities.
You can consult the following sites to see the lists of sanctions:
- Link to International Sanctions Program in the Bank of Italy website: https://uif.bancaditalia.it/adempimenti-operatori/portale-contrasto/index.html
Furthermore, we inform you that every transaction passes through the United States and as such is subject to American legislation.
Lastly, owing to our commitments to our regulators to ensure complete transparency of information, any order relating to a party or a country subject to financial sanctions must include all the required information and no information must be knowingly concealed, excluded, modified or altered.
To file a complaint please visit the File a Complaint page.
Please click here to access WUIB’s Privacy Statement. This Privacy Statement describes how WUIB collects, transfers, uses, and discloses personal information that it obtains from you when visiting and/or using this website, or that WUIB otherwise collects in connection with enrolling or providing services to its customers.