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Convera review (previously Western Union Business Solutions) 2025

Last update: July 18, 2025

Contents

Explore Convera’s global payment solutions, compare alternatives and find the best fit for your growing international business.

Key takeaways

Convera allows businesses to send and receive payments in 140 currencies across 200+ countries
Pricing isn’t shared on the payment provider’s website; it’s only revealed after account setup
Convera offers forward contracts and allows batch payments but lacks marketplace integrations
Convera doesn’t offer any credit cards or debit cards linked to its accounts

Introduction

Convera is a global B2B payments company that acquired Western Union Business Solutions in 2021 to expand its services across the world. With Convera, you can send and receive international payments in multiple currencies, set up forward contracts and execute batch payments.

In this article, we take a detailed look at Convera – its features, benefits and fees for businesses. We also compare Convera against WorldFirst so that you can choose the right foreign currency account for your global business.

What is Convera?

Convera is a B2B and B2C payment provider offering foreign exchange and international payment services. You can make payments in 140 currencies across 200 countries and territories, as well as receive and manage payments in multiple currencies.¹

While Convera was more focused on global businesses when it acquired Western Union Business, it now offers considerably more services to NGOs, financial institutions and international students.²

Quick look: Pros and cons of Convera

Pros	Cons
Make payments in 140 currencies¹ Lock in exchange rates with forward contracts Save time with batch payments	Pricing isn’t disclosed upfront on the website No built-in solution for collecting marketplace payments You can only hold currencies for up to 180 days in your Convera account⁵

Convera fees: The breakdown

The fees for a Convera account can vary depending on your country of registration. To find out the cost for sending, receiving, or holding funds, you’ll first need to create an account.

Convera adds a markup to the mid-market rate when converting currencies.[5]

Features of Convera

Multi-currency support

Convera lets you make and receive international payments as well as hold balances in multiple currencies. While globally, Convera does support sending and receiving 140 currencies, not all currencies are available in all the regions. You’ll have to check the currency capabilities by country to ensure the currencies you want to make a transfer in are in fact supported [4].

It’s possible to fund your account and hold balances in foreign currencies for up to 180 days without requiring a separate foreign currency account.⁵

There are two main ways to fund your Convera account:

Bank transfer: Send funds from your bank account to Convera directly
Credit card or debit card: Fund your account using a supported credit or debit card

Convera uses SWIFT gpi to manage international payments, enabling faster transactions and better payment tracking.⁶

Forward contracts

Convera lets you lock in exchange rates with forward contracts on both outgoing and incoming payments for better budgeting certainty on future transactions.⁴ However, not all currencies are eligible. Some can only be secured for buying, while others are limited to selling.

Batch payments

You can use Convera’s secure file upload to manage and execute batch payments.⁷

While Convera states that you can make ‘thousands of payments’ in one go, the maximum number of payments you can make in a single batch isn’t clear.

Support for marketplaces collections

You can use Convera’s local currency account details provided to collect payments from different marketplaces.

Is Convera regulated in Australia?

Convera is regulated in Australia with Australian Financial Services Licence (AFSL).⁸

How to open a Convera account?

To open a Convera account, you’ll have to provide details about yourself and your business, including name, industry, annual foreign exchange volume and annual turnover. A Convera representative will then get in touch to take you through the account opening process, during which you’ll need to provide necessary documentation about your business.

Convera alternative: WorldFirst

WorldFirst helps fast-growing businesses streamline their international transactions. With a World Account, you can open local currency accounts, pay global suppliers, collect from international marketplaces, and manage multiple currencies, all from one platform. Whether you’re an e-commerce seller, importer, or service provider, WorldFirst gives you the tools to grow globally without the usual banking complexity.

Here’s how WorldFirst can help your global business

Making payments

Send funds in 100+ currencies to over 200 countries and regions. Whether you’re paying overseas suppliers, marketing agencies or tax authorities, WorldFirst makes cross-border transfers simple and cost-effective. Benefit from competitive exchange rates and fast payment speeds to ensure your business runs smoothly and efficiently.

Receiving payments

Receive international payments like a local with currency accounts in 15+ major currencies, including GBP, USD, CAD, EUR, AUD, NZD, and CNH. Avoid unnecessary conversion fees and delays by holding your collected payments in our World Account. There are no charges for receiving payments.

Marketplace integration

E-commerce sellers can collect funds from 130+ global marketplaces and payment gateways, including Amazon, eBay, Shopee, and AliExpress. Consolidate your international sales into one place, making it easier to manage cash flow, reconcile payments, and reinvest earnings.

Managing currencies

Hold balances in multiple currencies without needing multiple bank accounts. Use your funds to make further payments, convert at competitive rates, or withdraw to your business bank account when it suits you. WorldFirst also offers currency risk management tools like forward contracts and firm orders.

World Card

The World Card is a multi-currency business debit card that lets you spend in over 150 currencies with zero foreign exchange fees. Use it for supplier purchases, travel expenses, or everyday business spending — directly from your World Account balance.

Transparent pricing

There are no setup costs, no hidden charges, and no minimum balance requirements. All fees are clearly listed on the WorldFirst website, so you can make informed decisions from the start.

	WorldFirst fees
Monthly fee	Free
Access to local currency accounts	Free (15+ currencies)
Receiving funds	Free
Holding funds in multiple currencies	Free
Sending payments	Local payments in AUD or NZD: Free Cross-border payments and local payments in currencies other than AUD or NZD: From 0.4%, capped at AUD 15
Sending payments to other World Account holders	Free
Currency exchange margin	For major currencies: Up to 0.6% For minor currencies: From 0.67% Payments to 1688.com: Up to 0.8%
Debit card	Free for up to 20 cards

Sources

https://convera.com/
https://convera.com/industries/
https://convera.com/students/faq/how-to-make-a-payment/q-what-are-the-benefits-of-using-convera/
https://convera.com/en-be/currency-capabilities-by-country/
https://convera.com/docs/convera-foreign-exchange-options-pds-au.pdf
https://convera.com/blog/payments/international-payments/wheres-my-payment/
https://convera.com/solutions/global-payments/pay/
https://convera.com/docs/convera-financial-services-guide-au.pdf

Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.

Rick Hill has worked in payments and financial services for the past nine years. He began his career at a large institutional bank and has since worked across startups and scaleups. Over the past four years, his experience with e-commerce retailers has led him to believe that WorldFirst will be crucial in helping brands expand globally by demystifying the complexities of entering new markets.

Rick Hill

Author

Head of Sales ANZ at WorldFirst

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Convera review (previously Western Union Business Solutions) 2025

What is Convera?

Quick look: Pros and cons of Convera

Convera fees: The breakdown