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Unistream a bank evolved into an online service

Unistream used to be a large bank operating mainly on the territory of Russia. In 2001 the bank management came to the conclusion that the times were changing. They decided it would be better for their company to switch for online operation and limit the services to money transfers.

Today's results of Unistream show that it was a wise decision. Nowadays Unistream is a well-known alternative for such global "monsters" like Western Union, Ria Money Transfer etc. So let's take a closer look at this unusual service and find out why customers like it so much.

Advantages of Unistream

Unistream has appropriate licenses issued in three countries – Great Britain, Greece and Cyprus. There is no big practical meaning in it, however such documents confirm excellent reputation of the service.

The number of Unistream partners and agents has increases 330 thousand. They are located in more than 100 countries including smaller towns. Unistream is rapidly expanding and without a doubt this service will be available in new countries very soon.

As it often happens on the global market smaller companies try to capture their share by providing lower prices. The same can be said about Unistream with their incredibly low commission for international money transfers – it starts from 0.5%! There is no other online service offering such small fees.

For example, if you want to send money from Estonia to Slovakia you will have to pay only 1.5% fee! Isn't that perfect? If you are not sure – check out the fee for a transfer from France to Denmark with 0.6% commission! Such fees are just unbeatable. Everyone who is looking for a cheaper solution chooses Unistream.

Please keep in mind that non-address money transfers via Unistream would cost you more – the typical commission for such kind of transactions is somewhere between 2% and 6% which is still far lower than most big services offer.

There have never been any problems with security in Unistream. The same should be said about the speed of transactions – they are instant indeed. A money transfer is processed within 5-10 minutes. Sometimes it may take a bit longer due to system issues or bank problems.

Finally, Unistream is a company rewarded by many countries, governments and organizations. It was called "The Bank of the Future" due to state-of-art technical solutions. Moreover, Russian central bank recognized Unistream a "nationally significant financial institution" which is probably the best compliment.

How can one send and receive funds?

The algorithm is simple and totally similar to what one does in any other service making international transfers.

First of all you need to choose a Unistream office – typically it is a financial organization which has partner relationships with Unistream.

To send money you need your ID and basic personal information about the recipient – name, surname, date of birth and location (country and city).

After transfer processing you get the receipt with the transaction number and – if it was a non-address transaction – the office address where the recipient can receive the money. Share this information with the recipient and he or she will be able to get the money in a few minutes after you sent it.

What's more one can send money via a payment terminal or even via a mobile service provider depending on a country. Unluckily such opportunities are available in rather limited number of countries – for instance, in Ukraine, Russia and some Eastern European countries.

Client Card from Unistream

Unistream is a service for non-commercial financial operations, but if you need to use it regularly it makes sense to apply for the client card. With the card you do not have to fill in the application forms for future transactions – you personal information will be stored in the system.

Another advantage of Unistream client card is SMS notification. A sender who has the client card gets an SMS if the transfer status has been changed (for example, if the recipient received the money).

Please find more information about Unistream client card on the website of the service. Please keep in mind that client cards from Unistream should be used only by the person they were issued for – it is prohibited to grant/give them other people. Unistream cards never expire.

Limitations in Unistream

Unistream should not be used for commercial purposes as has already been said before. That is why there are certain limitations in the system restricting people from sending too much money. Daily limitation for all international transactions is 5 000 USD or EUR. This limitation cannot be exceeded even if one tries to send money using several offices/partners of Unistream – the information is stored in the shared database.

What currencies are available in Unistream?

International transactions are all performed in USD or EUR, however recipient can get the money in the local currency. In such a case Unistream system converts USD or EUR amount into the amount in the local currency.

Russian Rubble can also be used as the transfer currency but only if it is a transaction from/to Russia from/to one of the following countries: Armenia, Belarus, Kazakhstan and other CIS countries.

Other information

Sometimes it happens that a sender wants to reject the money transfer. It's very easy to do with Unistream. Address transfers are rejected only in a Unistream office where the sender needs to fill in a special form.

As for non-address transactions a sender needs to contact any Unistream office and provide the transaction code and amount of money.

If a recipient does not want to get the money he or she does not really have to do anything – maybe it would be useful to tell the sender about such a decision. It will just save time for all parties including a Unistream office where the money will be taken back.

Transaction rejection is a very fast operation, however the money is returned to the sender only within 3 business days from the day of rejection. Please be careful with the outgoing transactions.

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© – 04/19/2017
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