3/27/2023
Sending money to family, friends and acquaintances, whether in the U.S. or abroad, is becoming increasingly accessible on a global scale. One such reliable platform is Moneygram, based in the USA.
This entity allows you to send money online, using its app or its website, but if you want to send money in person you can go to one of its establishments.
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Here you can find Moneygram stores near your location and also learn about the requirements to send money and the procedure to do so, both in person and online.
How to find a Moneygram store near you?
If you want to find a Moneygram store near you, you can use this map below:
To find a Moneygram near you, you can also use the locator on their website. It is common for money transfer services to be located in other stores or department stores, such as Walmart.
What is MoneyGram?
The company we know today as MoneyGram International was founded in Minnesota more than 80 years ago as Travelers Express Co.
At that time, it was a subsidiary of Viad Corporation and became one of the largest money order providers in the U.S. before becoming Integrated Payment Systems (1988) and going public.
After WesternUnion, MoneyGram is now the second-largest money transfer company on the planet. This is because it has at least 350,000 locations in more than 200 countries and territories.
In addition, it offers you its website and its application with which you can process payments through your favorite devices.
Requirements to use MoneyGram
Although using this platform is very simple, you must first meet some requirements to send money to another person:
- Be of legal age (18+).
- If you are going to do the live process, you must have on hand information such as: phone number, zip code, date of birth and an email address. Every time you go to a MoneyGram location, you must provide this information.
- To send money online, the information is the same, but it is registered when you make the transaction through the page or app.
This request for personal data has to do with KYC (know your customer) policies, since the company must make sure that you are a real person. This makes it easier for them to verify your operations and comply with the personal information protection laws in each country.
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How to send money with MoneyGram?
As we have mentioned, sending money with MoneyGram is very easy. When you go to one of their branches, you have to follow these steps:
- Locate a store or authorized agent near you, where you will make the transaction.
- We recommend that you have the information ready before you arrive. You will be asked for the following:
- Valid ID
- The recipient's full name, ID and place of residence.
- The amount you are going to send and pay the corresponding commissions.
- Now it is your turn to fill out the form to complete the transfer. This will depend on the country where you reside. Once completed, you give it to the person who attends you along with the money. It may take 10 minutes or more.
- Finally, keep the receipt and inform the beneficiary about the transfer. For those who are going to withdraw the money in person, they need the 8-digit code that is on the invoice. When it is a bank transfer, this requirement is unnecessary.
The process of sending money online is even easier than going to a MoneyGram location. Just complete 3 simple steps to do it:
- Open an account. If you don't already have an account, this step allows MoneyGram to verify your identity.
- Register the beneficiary. During this step, you must indicate who will receive the funds, the amount and how they will get the money.
- Choose the payment method and send the money. This company gives you several options, such as credit or debit cards and bank transfer.
With this option it may take a few hours to send the money. As for limits, you can send online up to $10,000 per transaction and the same amount within 30 days. If you want to transfer more than that, you must do it in person.
Fees charged by MoneyGram
When you're sending money overseas from the U.S., the fee varies depending on the destination country, the amount and the payment method. Based on what we've seen, it's more convenient to do it through the app or through their website, rather than in person.
The best way to find out the cost is to use the fee and commission calculator on MoneyGram's website.
MoneyGram exchange rates
All of these platforms apply a fee when it comes to currency exchange, which can be from 1 to 3%. However, MoneyGram's fee can be as high as 5%, depending on the currency the recipient receives. It is fair to say that this platform is one of the most expensive.
Sending money to prisoners with MoneyGram
For those residing in the USA, you can send money to prisoners with MoneyGram. This can be those in custody of the Federal Bureau of Prisons and the California, Florida and Texas Departments of Corrections.
The process is similar to the one detailed above, except for having to provide the inmate's ID.
English: Moneygram cerca de mi ubicación y cómo enviar dinero