How to send money with MoneyGram

How to send money with MoneyGram

In many ways money is power and nothing can be compared to the feeling of being able to send funds to someone in need and in time. MoneyGram is one such way to ensure that your payment is delivered timely and efficiently. The 78-year-old American company operates in over 200 countries and is one of the world’s largest fund transfer services. You can also pay your bills, send money orders and load a certain amount to your pre-paid cards and top up a mobile phone number. There are primarily two ways in which you can transfer funds with MoneyGram. You can either do it online or in person at one of its location. In this article, we will discuss both of these methods in detail.

MoneyGram online fund transfer

The fastest way to send payment is through the online payment transfer service. It will save you a lot of time and effort. It can be accessed through the MoneyGram website or mobile app. You will have to register for an account by filling in your details. You can initiate the transaction as soon as your account gets verified. Enter the details of the recipient and how would they receive the payment. When you enter the amount and the currency you will be able to see the applicable fee and the exchange rate for the transaction. Proceed to pay by submitting your payment details. Ensure that you check all the details before submitting the request. Once the request is submitted you will receive a confirmation over email along with tracking number which can be used to track the status of delivery.

Payment options for online transaction

Here are some available options to pay for your fund transfer online.

Sendbot is a feature available through Facebook messenger. It allows sending money to anyone who is in your contact list. Just go to MoneyGram Sendbot page, click on “Get Started” and following simple instructions.

If you can’t pay by any of the options above, you can also initiate the transfer online and pay in cash at the nearest agent location to complete the process.

Options for receiving the transfer

Before you start the transaction you should check with the recipient how they would like to receive the payment. Since you have multiple options for receiving payments, you can select the most convenient one from the list below:

  • Bank account
  • Pick up the cash from an agent location
  • Mobile wallet
  • To an inmate in the inmate commissary account.

Fund transfer at MoneyGram location

MoneyGram understands that there are many people who still do not have access to the internet or online banking. With over 350,000 locations worldwide MoneyGram caters to these people. If you wish to send your funds in person you will have to locate the nearest MoneyGram office. Bring your ID and the recipient’s details like name and location to the agent. Submit your request along with the fund to be sent and the required fee. You will receive a reference number and the recipient will need this number to pick up the money at their end.

Payment and receiving options for transfers in person

Most of the agent location accepts only cash as their payment option. The funds can be sent to a bank account, mobile wallet and can also be received in cash by the receiver in person. You can also send it to an inmate by submitting their details to the agent like their name, correctional ID and location.

MoneyGram transfer fee

Their transfer fee depends on various factors. In a general comparison, it is very similar to rest of its competitors. The fees are less if you make the payment through your bank account and highest when it’s paid with credit/debit cards. Also, the fee for receiving payments in cash is high when compared to receiving in a bank account. The cheapest way to send is through one bank account to another. Here is an overview of applicable fees for few different countries. I tried to send $100 from the US to these countries through different methods and the results were:

Country Payment method Receiving method Transfer fee
Canada Bank account Cash pick up $7.99
Cash Cash pick up $12.50
Credit card Cash pick up $11.99
Australia Bank account Cash pick up $10.00
Cash Cash pick up $12.00
Credit card Cash pick up $12.00
France Bank account Bank account $4.99
Bank account Cash pick up $10.99
Credit card Cash pick up $11.99

It is quite evident that bank to bank transfer is the cheapest. MoneyGram also offers very impressive exchange rates which are very close to mid-market rate. Its global presence on the online platform as well as physical presence as agent locations makes it one of the most preferred options for fund transfers.

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