Q:

How does a MoneyGram work?

A:

Quick Answer

A MoneyGram is an electronic money transfer sent from one party to another through the MoneyGram network. The sending party can initiate a money transfer online or in person at any MoneyGram location. The receiving party collects the transfer as cash at any other MoneyGram location.

  Know More

Full Answer

To fund a MoneyGram in person, the sending party must visit a local MoneyGram agent and pay in cash. When funding a money transfer online, the sending party can either set up an ACH debit from a bank account or use a Visa or Mastercard debit card or credit card. After the MoneyGram has been funded, the sending party is given an official Reference Number to pass on to the receiving party. Money is typically available for pickup by the receiving party within 10 minutes.

To collect a MoneyGram, the receiving party must take the official Reference Number and an acceptable form of personal identification to a local MoneyGram location. Identification requirements vary from country to country, but most require a government-issued driver’s license, passport or national identity card. The money transfer is typically paid out to the receiving party in the form of local currency. Depending on the transfer amount and local legal requirements, the transfer may be paid out in the form of a check or money order.

Learn more about Personal Banking

Related Questions

  • Q:

    How do you receive a MoneyGram?

    A:

    To receive funds at MoneyGram, go to a MoneyGram location with your reference number and personal identification documents. You have to fill out a receiver form and hand it over to a MoneyGram agent, according to MoneyGram.com. The agent will then give you your money.

    Full Answer >
    Filed Under:
  • Q:

    How do you use MoneyGram to send money internationally?

    A:

    People can send up to $2,999 internationally via MoneyGram by logging on to the MoneyGram website and using a debit/credit card or their U.S. bank account. Users can also find a MoneyGram location by using the find-location feature on its website and transfer money in person.

    Full Answer >
    Filed Under:
  • Q:

    How can you send a MoneyGram by phone?

    A:

    As of April 2015, MoneyGram does not provide its customers with an option to send money over the phone, according to the company's official website. Customers can send money either online at MoneyGram's website or in person at a nearby MoneyGram location.

    Full Answer >
    Filed Under:
  • Q:

    How do you receive money from MoneyGram?

    A:

    To pick up a MoneyGram, bring the reference number and personal identification to a MoneyGram location. Once there, complete the receiver form and give it to the MoneyGram agent. MoneyGrams may also be sent to a home address or bank account; these methods do not require visiting a MoneyGram location.

    Full Answer >
    Filed Under:

Explore