What Is a MoneyGram?

MoneyGram is a money transfer service that traces its roots back to the Travelers Express Company. Founded in 1940 in Minneapolis, Minnesota, by 2015 it was the second-largest money transfer organization in the world with $1.5 billion in annual revenues. It operates in more than 200 countries with more than 347,000 agent locations. Some agents also offer bill payment services, and can issue money orders and process checks.

  1. Sending Money

    • To send money in person, go to MoneyGram.com to look up your nearest MoneyGram location. Bring what you want to transfer, the recipient’s exact name and address, and personal identification like a driver’s license or passport. The recipient’s name must match that of the ID. You’ll fill out a short Send Form and receive a reference number for the transaction. Give the reference number to your recipient. He’ll be able to pick it up at a MoneyGram location in about 10 minutes.

    Online Transfer

    • To send money online, you’ll need to create an account at moneygram.com and pick a password and security image. The actual transaction starts with a click on the site's "Send Money" tab. You’ll need the recipient’s name, the country you’re sending it to and the dollar amount. Funds sent via debit or credit cards are typically available within minutes, while transfers from bank accounts take about three days.

    Receiving Funds

    • In almost all cases, you’ll have to go to a MoneyGram location to pick up the transaction. The agent will need to see your personal identification and your reference number. Some countries also require proof of address, such as a utility bill or bank statement. You must complete a Receiver Form to get the money.

    Bill Payment

    • Hundreds of companies accept MoneyGram as a form of bill payment. Since MoneyGram can move money to an account in minutes, this can be an option if the the money is needed quickly. You can do it online via a credit card or a prepaid MoneyGram card, or in person at a MoneyGram location. MoneyGram allows bill payments up to $2,500, though individual companies may have lower limits.

    Limitations

    • MoneyGram generally allows transactions of up to $3,000 in most countries. Anything larger requires additional identification and procedures as the MoneyGram agents must comply with money-laundering regulations. The maximum amount per transaction is $10,000, with a daily maximum of $20,000.

Related Searches

References

Resources

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...

  • 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...

  • 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

Related Searches
View Photos

6 Awesome Apps to Help You Do Your Taxes