Q:

What is a Moneygram exchange rate calculator?

A:

Quick Answer

The MoneyGram exchange rate calculator, or estimator, calculates the exchange rate for different currencies in countries where MoneyGram provides services. Individuals may also select the box to subtract MoneyGram fees from the amount sent in the exchange rate, according to the company website.

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Full Answer

To use the exchange rate calculator on the MoneyGram website, a customer must use the drop down menu to select which country the money is sent from, the original currency and the destination country. The customer then enters the amount of money being sent and the calculator converts this amount into the currency of the destination country. The customer can then tell the recipient how much money is being sent. Alternatively, customers can determine how much money they need to send to recipients by selecting Receive Amount from the drop down menu.

If the customer is sending money to one of the select countries that distributes more than one type of currency, the sender must select which currency the recipient will receive, according to MoneyGram. The recipient may not change this option. If the destination country offers this option, the estimator will allow the customer to select from the available currencies.

MoneyGram allows customers to send money using a Visa, MasterCard or AHC bank account debit. Recipients may pick up the money from their local MoneyGram location. MoneyGram does transfer money directly to bank accounts in Mexico.

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