DENVER — Western Union is shutting down its Western Union Digital Bank, with customer accounts to be closed two months after users receive notification.
Western Union International Bank, which operates the digital banking service, announced the decision in a legal notice posted on its German website, according to PYMNTS.
“We regularly review our products and services,” the bank said in the notice. “Following one of these reviews, we decided to discontinue Western Union Digital Bank.”
According to the report, customers will lose access to the Western Union Digital Bank app on their account closure date, and debit cards linked to the accounts will be deactivated. Users will receive a confirmation once their accounts have been closed.
Customers Urged to Move Funds
The bank advised customers to withdraw or transfer any remaining funds, provide updated banking information to anyone using their Western Union Digital Banking IBAN, download account records they wish to retain and cancel any Premium subscriptions before their accounts are closed.
Western Union International Bank is headquartered in Vienna and is regulated by Austria’s Financial Market Authority (FMA). It was founded in 2004 as part of the Western Union Group and operates as an independent agent within the Western Union money transfer network.
Closure Follows Fine
The closure comes shortly after the FMA announced it had fined Western Union International Bank €42,000 (about $47,900) for violating reporting requirements under the European Union’s Digital Operational Resilience Act, or DORA. According to the regulator, the bank failed to report certain information and communication technology-related incidents within the required timeframes.
DORA, which took effect in January 2025, established stricter operational resilience requirements for banks and information technology service providers across the European Union, including enhanced IT risk management, resilience testing and oversight of third-party technology providers, PYMNTS reported.
Money Transfer Biz Remains
The closure of Western Union Digital Bank does not affect Western Union’s core money transfer business. Customers will continue to be able to send and receive money through the company’s website and mobile app because those services operate separately from the digital bank.
According to the legal notice, any funds remaining in customer accounts after closure will be handled in accordance with applicable laws, regulations and the account’s terms and conditions.
