Is Moneygram Safe? How it Works | Basic Tricks and Tips

Is MoneyGram safe? MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable you to quickly send money to more than 200 countries and territories, with over 70 countries now digitally enabled.

This article talks about how MoneyGram works, basic tricks and tips and other relevant information.

MoneyGram is a system that leverages API and modern technologies to serve customer needs by creating an ambient flow and transfer of cash from and to clients in over 70 countries.

What is MoneyGram?

MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable you to quickly and affordably send money in more than 200 countries and territories, with over 70 countries now digitally enabled.

MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve millions of people each year through both its walk-in business and its direct-to-consumer digital business.

With a strong culture of innovation and a relentless focus on utilizing technology to deliver the world’s best customer experience, MoneyGram is leading the evolution of digital P2P payments.

What Are The Services Offered By MoneyGram?

MoneyGram has remarkably lived up to the challenge through services rendered. Asides from enabling USD exchange to over 47 different currencies from over 200 countries globally, MoneyGram also offers the following services:

#1 Bill Payments

MoneyGram’s bill payment service allows you to pay your relatives’ bills or your own from thousands of companies. The service is available in nearly all agent locations across the US, Canada, and Puerto Rico, as well as in certain agent locations in select countries in Europe and the Caribbean.

#2 Money Orders

Money orders were the first service that MoneyGram offered when it was founded in 1940. While the company still offers this service today, it only represents a small share of their business.

The service, which is only available at certain agent locations across the US, is basically a prepaid check which you can deliver by mail or in-person to the recipient.

#3 Mobile Top-Up

MoneyGram lets you top up prepaid mobile phones of more than 350 mobile carriers in over 100 countries around the world. This is a great way to ensure that you and your relatives abroad are able to stay in touch.

Mobile top-ups are available at MoneyGram agent locations in the US but can be sent online from any country in the world.

How To Get Started on MoneyGram

Opening a MoneyGram account is a simple process. Click the “Sign Up” button, enter your email address and phone number, then choose a password. You’ll then have to enter your legal name, birth date, and address. Finally, click the “Create Profile” button.

How Much Does It Cost To Send Money Via Moneygram?

MoneyGram fees do vary depending on the amount you’re sending, the countries that you’re transferring money between, how you’re paying for the transfer, and how the beneficiary is accessing the funds you’re transferring — for example, via cash pickup or a bank account deposit.

The tool lets you quickly calculate how much you’ll pay, whether you’re transferring online or visiting a local agent. It also tells you exactly how much the beneficiary will receive, based on the exchange rate offered by MoneyGram.

What Is The Highest Amount Of Money I Can Send Via MoneyGram?

The total amount you can send via MoneyGram depends on if you’re transferring funds through the official website or from a MoneyGram agent location.

For most countries, you can send up to USD 10,000 or equivalent in a single online transfer.

MoneyGram also limits the amount you can send every thirty days to a total of USD 10,000 or equivalent.

If you want to transfer money over this amount, you will normally need to visit a MoneyGram agent location and may need to provide certain identity documents.

Can I Send Money Abroad Via MoneyGram?

There are two ways of sending money abroad via MoneyGram: you can either send money online or at an agent’s location.

Let’s take a look at how to send money online with MoneyGram:

Go to the MoneyGram website
If you have a MoneyGram account you can log in, otherwise, you will need to create a new account.
Decide how much you’d like to send and where you want to send it to.
Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data.
Tell MoneyGram how the beneficiary wants to get their money—through a bank transfer, cash pickup, or via some other means.
Agree to the MoneyGram exchange rate and any fees.
Pay for your transfer.
Enter your information to verify your identity.

How to send money abroad through a MoneyGram agent:

Find a MoneyGram agent near you.
Visit the agent and make sure you have identity documents and the details of the beneficiary.
Decide how much you’d like to send and where you want to send it to.
Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data.
Fill out a sending form, give it to an agent and pay for your transaction.
Depending on how much you send, you may need to upload a copy of your ID. You can do that here.

In a nutshell, you can either transfer money to a bank account, mobile wallet, or to an agent location. If you’re sending money to a mobile wallet, select the ‘account deposit’ option. If you’re sending money to a mobile wallet, provide the beneficiary’s mobile number with the international code.

How Do I Receive Money From MoneyGram?

You can receive money from MoneyGram through specific means which is dependent on your location, the instruction imputed by the sender, the currency you’re receiving, and some other factors.

You can receive money from MoneyGram through the following ways:

#1 Receive money directly into a bank account

MoneyGram allows for a deposit directly into your bank, credit union, or other financial accounts.

#2 Cash Pickup

MoneyGram allows you to pick up money in person at a MoneyGram agent location. There are more than 350,000 MoneyGram agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent.

#3 Transfer to a debit card

Money can be sent directly to your debit card.

#4 SmartMoney and mobile wallets

Money can be sent directly to a receiver’s mobile wallet account, including M-PESA.

#5 Home delivery

Money can be delivered in-person to your home address. The money is delivered by a local MoneyGram agent.

Note: While going to the convenient MoneyGram location near you, ensure you go with your reference number and ID.

How Long Does MoneyGram Hold Money For Pickup?

MoneyGram agent locations will hold the funds from money transfers for 90 days, according to MoneyGram’s terms of use. After 90 days, the transfer will expire, and the intended recipient will not be able to pick up the money.

How Can I Cancel A Money Transfer on MoneyGram?

If you sent the transaction online and you have a profile, log in to your profile and find the transaction in your transaction history. There is an option to cancel it on the Transaction Details page.

Can I Get A Refund From MoneyGram?

If you cancel within 30 minutes of payment, you will be issued a full refund. For cancellations made after 30 minutes and up to 180 days, you will be issued a refund for the send amount only, excluding fees.

It typically takes 3-10 business days for the refund for a money transfer to appear on your credit/debit card or bank account but may take longer.

Is MoneyGram Safe To Use?

With MoneyGram, you can easily send money to your friends to and from any other part of the world. It is fast, reliable and convenient.

The MoneyGram brand is recognized and trusted globally, thanks in part to its network of agent locations which, apart from Western Union’s, is unmatched by any of its competitors.

Final Thoughts

MoneyGram is the second-largest money transfer provider in the world, after Western Union. It has the network you’d expect, including 350,000 agent locations and kiosks in more than 200 countries.

Additionally, it also has a full range of funding and receiving options, including cash deliveries and phone reloads in some markets. It is fast, reliable and convenient.

References

monito.com – MoneyGram: The Ultimate Money Transfer Review
Moneygram.com