What Is a MoneyGram?

Have you even been strapped for cash and needed to borrow some quickly? Have you ever remembered at the last minute that your payment was due? There are many services that allow you to transfer money or make last-minute payments on your accounts. Among them, MoneyGram is one of the most trusted companies.

  1. Function

    • MoneyGram is a system that allows the transfer of money from one person to another without the use of a bank. People can transfer money from one country to another at any time for a small fee. Money Gram also offers services such as money-order purchasing, bill-paying, and prepaid credit cards.

      Consumers can visit a MoneyGram agent to process transfers or use the company's website to make the transfers or locate the nearest MoneyGram agent. MoneyGram offers services in nearly 200 countries. MoneyGram's services are similar to those of Western Union.

    Transfering Money

    • The most popular service offered by MoneyGram is transferring money. More than 180,000 MoneyGram agents are placed around the globe to allow transfers from country to country. When transferring money via an agent, the sender is required to show photo identification and complete a form with names and addresses of the sender and receiver. Once the form is completed, the agent enters the information into the system, collects the funds, and processes the transfer. The sender is provided a confirmation number which he is then required to provide the receiver. The funds remain in MoneyGram's system until they are claimed by the receiver. The receiver can visit any MoneyGram location and request his money by completing a form and showing identification.

      The cost of a transfer depends on the amount and destination of the money being set. Cost information can be found by visiting the company's website.

    Bill Payment

    • With our hectic schedules, it's easy to forget to pay a crucial bill. Each time a payment is made late, the payer's credit score is damaged and late fees are added to the charge. When this happens, bill payment services such as those offered through MoneyGram can process your payment and help avoid those fees. For less than $10 per transaction, users of this service can pay their utility bills, select credit cards, and even their mortgages. Companies that accept MoneyGram payments are assigned a code. The code is required in order to send the money and can be obtained directly from the creditor. Bills can be paid at any MoneyGram agency using cash, or can be paid online with the aid of a credit card or checking account.

    Money Orders

    • Money orders are another popular MoneyGram service. Money orders are used in place of cash or check. They are accepted by most companies and are often the preferred method of payment among online buyers and sellers who do not use PayPal for that purpose. MoneyGram money orders are secure, easy to use, and can be tracked in case of loss or theft. MoneyGram money orders are available from agent locations or self-service MoneyGram machines located in many retail outlets.

    Prepaid Credit/Debit Card

    • Prepaid credit cards are becoming more and more popular among those trying to avoid going into debt. Instead of using a traditional card that allows you to spend and then pay later, you can use a prepaid card that requires you to load money onto the card in advance. The money on the card can be used to pay for goods and services and is accepted at all retailers that accept the logo of the major credit card provider that is listed on the card. Users are provided a PIN number so they can access their money later if they need to get cash from the ATM. Cards can be reloaded at most MoneyGram locations for a small fee. MoneyGram prepaid credit cards are the newest addition to the line of products offered by the company.

Related Searches

References

You May Also Like

  • How to Use MoneyGram

    While not as widely known as other money-sending companies, MoneyGram allows customers to send and receive money in under 10 minutes. Customers...

  • How to Send a MoneyGram

    A MoneyGram is a quick, safe and convenient way to send money. They can be sent to friends and family or to...

  • What Is an International MoneyGram?

    MoneyGram International is a financial products and services company based in the United States. An international MoneyGram is the company's money order...

  • How to Calculate a MoneyGram Transfer

    MoneyGram provides its customers a way to transfer money to others located most anywhere in the world. You can transfer money to...

  • How Do Money Grams Work?

    MoneyGram has agents in over 200 countries. Agents can be found in retail stores, standalone entities and cash-advance offices. To send money,...

  • The Differences Between MoneyGram & Western Union

    Wherever you may find yourself throughout the United States or outside it, the ability to rapidly transfer funds may not only be...

  • Money Gram Instructions

    With more than 180,000 locations in 190 countries, Money Gram has assisted its customers in moving money around the world since 1940....

  • List of Banks That Handle MoneyGrams

    MoneyGram is an online money transfer service. Funds are transferred one of two ways, through bank account transfer or credit card fund...

  • How to Track a MoneyGram Transaction

    MoneyGram provides consumers with financial services, such as prepaid credit cards, bill payment, money orders and money transfers. When consumers use MoneyGram...

  • Is the Money Gram the Same As Money Order?

    Although similar in name, there are clear differences between MoneyGram and a money order. MoneyGram is a global company that specializes in...

  • How to See If a MoneyGram Has Been Sent to You

    The process of sending a MoneyGram begins with the sender, ... If not, the automated machine will update you on the status...

  • How to Pick Up a MoneyGram

    A MoneyGram is a service that allows the sending and receiving of money domestically and internationally. It is commonly used when other...

  • Moneygram Refund Procedures

    Moneygram charges a fee for its services to consumers. ... In some cases a consumer may send money and make a mistake...

  • How to Become a Moneygram Agent

    MoneyGram International offers people an opportunity to wire money through their network of agents located around the world. In this global economy...

  • How to Receive Money Through MoneyGram Via Vcom

    Vcom is a financial self-service terminal located inside selected 7-Eleven stores. It offers such services as check cashing, cash advances, check deposits...

  • How to Send a MoneyGram at Wal-Mart

    MoneyGram is an international corporation that offers several types of financial services, including money transfers. Walmart, a discount retail chain with nearly...

  • How to Send a MoneyGram Online

    MoneyGram is a service that lets users send money to friends, family or businesses throughout the world. MoneyGram users who wish to...

  • How to Track MoneyGram Money Orders

    So be careful of the Money Gram money orders that you receive cause they can be fake. ... What Is a Certified...

Related Ads

Check It Out

Make-at-Home Vs. Takeout: Pumpkin Pie