MoneyGram Banking

MoneyGram International is the second largest money transfer company in the world. Their services are available in over 200 countries with more than 350,000 retail locations. Their services are used by tens of millions of consumers around the world. In this short review, we are taking a look at their core business, excluding some of the services they provide. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.


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MoneyGram

How It Works?

MoneyGram is a great way to send money online. Their core business can be compared to Western Union, with some differences. So here's how it works.

Sending money with MoneyGram is easy. You have two main options: online and in person transfers. In person payments can be made at MoneyGram retail locations. There's a map on their website in order to help with this step. Bring your ID, select the recipient's location and give the agent the amount of cash you'd like to send plus the fees, which will be covered in the last section in this review. In return, you get an 8-digit reference number which is used to collect the cash. Your transfer will be available for the recipient within minutes, which is a major advantage over regular bank transfers.

MoneyGram online solution works as fast as in person. You can fund the transfer using your credit or debit card or do a direct wire transfer using your bank of choice.

And now the best part. MoneyGram also features a mobile wallet and is used by more than 14,000 different companies as a payment gateway. These organisations include healthcare and utilities as well as some of the more popular online casinos. All you have to do is make sure your casino of choice has MoneyGram as a payment option.

Security

Sending money using MoneyGram is secure. If you're making an in person transfer, just make sure no one else knows the 8-digit reference number or any additional information needed to receive the payment.

MoneyGram's solutions are also under the watchful eyes of different government agencies all over the world. They're also listed on NASDAQ Stock Exchange, which also means that they have to maintain their good reputation.

Banking

MoneyGram's fees depend heavily on yours and the recipient's locations as well as the amount of cash that you want to send. You can get an estimate from MoneyGram's website, but just to give you an example – an in person transfer of 1,000 USD within USA will amount to 20 USD in fees. The cost for sending the cash online for the receiver to pick it up from an agent in cash is 99.99 USD.

Summary

MoneyGram is one of the world’s biggest money transfer companies. You can send money online or in person around the world, as well as to a bank account, mobile wallet or to an inmate. An e-wallet and prepaid card solution are available too.

Click to visit MoneyGram website.

Posted by CCJ Team