I live in Toronto. A couple of weeks ago I loaned a friend of mine in California $500 US. I sent it to him via Western Union, using my online bank account to do the transfer. The Canadian dollar was (and is) just above par with the US dollar. The total cost for sending the money, including Western Union's fee and the exchange rate, was something like $520 CDN, which was fine.
A few days ago my friend paid me back, sending $500 US via Western Union. When I went to a local Money Mart to pick it up, I found out I'd only be getting $465 Canadian, which was startling.
On the day I went to pick up the transfer, the Canadian dollar was at $1.03 US. So I should have been getting quite a bit more than $500. But I didn't, because Western Union said the exchange rate on that day for receiving funds from the US was $0.93.
Ten freakin' percent less than the actual rate.
So basically Western Union stole $50+ from me.
I don't get how that can be legal.
I don't expect to see it back, nor do I expect them to change their policies or reply to this gripe. But a man can dream.