Q:

What is a Walmart MoneyGram?

A:

Quick Answer

According to Walmart, MoneyGram is a money transfer service that allows people to send money from any Walmart store or online to another Walmart store. Since Walmarts are located all over the United States, MoneyGram makes it easy to find a convenient location for the recipient.

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Full Answer

Walmart says that for online money transfers, the sender needs a bank account or a credit or debit card. No credit or debit card or bank account is needed for in-store transfers. The sender has to verify his identity with an official identification method, such as a driver's license. Fees for sending money vary depending on the location and speed of the service.

Money transferred via a debit or credit card or a checking account is available for pick up within 10 minutes or so. Transfer fees start at $4.75, although using a credit card to transfer money can trigger cash-advance fees.

To transfer money, a sender must know the state where the receiver will pick up the money and the receiver's full legal name. After completing the transfer, senders receive a reference number. The person picking up the money must have this number and show a valid, government-issued ID. When completing the transfer online or at a store location for transfers in the United States, senders specify the state in which the money will be picked up, and receivers can go to any Walmart in that state to get their funds.

Walmart MoneyGram allows transfers of as little as $1 when using a debit or credit card, but sets a $50 threshold for transferring money from a checking account. While there is no limit to how much a person transfers using a debit or credit card, Walmart MoneyGram limits senders from transferring no more than $3,000 from a checking account every 30 days.

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