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.

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How does a MoneyGram work?
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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.

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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.

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  • Q:

    How do you send a MoneyGram?

    A:

    A MoneyGram can be sent in person or online, states the MoneyGram website. Visiting the website helps find the closet brick-and-mortar location, or money can also be sent by filling out online information or through a mobile MoneyGram application.

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  • Q:

    How do you send a Moneygram Express payment?

    A:

    To send a MoneyGram xpress payment, acquire a $50, $100 or $200 packet, and take it to a MoneyGram agent to send, or redeem the packet online, explains MoneyGram. To redeem online, enter the redemption number located inside the packet on the MoneyGram website. Enter your first and last name and email in the appropriate spots, and choose a destination and other options from the provided pull-down menus.

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  • Q:

    What is a MoneyGram number?

    A:

    A MoneyGram number refers to the reference number used by customers to receive funds that have been sent to them. These numbers are given to the person sending the funds, which they need to provide to the person picking up the money so that they can verify and collect their funds.

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