What is MoneyGram?

MoneyGram International, Inc is a money transfer network. Using this service people can transfer money to others domestically or internationally. It is considered as a secure way to receive money wordlwide.

MoneyGram is currently used around 170 hundred countries. It has over 81000 agents in 170 countries.

The money sent and received is in cash and the transaction cannot be reversed.

MoneyGram Services

Two types of services are provided by MoneyGram.

1. Economy Service: The charges required for economy service are less. The receiver gets the amount after three days.

2. Same Day Service: The receiver gets money within ten minutes of transaction but the charges are higher than economy service.

How to Send and Receive Money through MoneyGram?

The sender has to find out nearest MoneyGram agent. A detailed list of agents is provided by MoneyGram website according to zip code. Then the sender should fill up the form providing his and the receivers information. A photo identification of sender is required to complete the transaction. Once amount to be transferred and processing fee is paid in cash, sender receives a transaction number. The sender should notify this number to receiver.

To get the transferred money, receiver should go to nearest MoneyGram agent and provide the transaction number and identification proof.

For senders in USA MoneyGram provides online payment services. This service is provided through credit card, debit card or direct bank debit. The identification proofs like passport or ration card are needed to complete the transaction. After the sender sends the money, the receiver goes to nearest MoneyGram location with his identification proof and transaction number to receive the amount.

MoneyGram Vs Western Union

The service of MoneyGram is similar to that of Western Union money transfer. But the advantage of using MoneyGram is that the fees are quite less than the fees of Western Union.

Indians who are working in Middle East use MoneyGram regularly to send money to India. One reason is that the charges are less and the other is that many receivers do not have a bank account.