What is MoneyGram? MoneyGram Review, Features

MoneyGram was founded in Texas, USA in 1940. It is an international express remittance company that provides global express remittance services from person to person. Its main competitors are Western Union and Xoom.

About MoneyGram

Currently, MoneyGram cooperates with banks in my country, including Bank of China, Industrial and Commercial Bank of China, Bank of Communications, and China CITIC Bank. my country is a country with foreign exchange controls. Foreign companies need to have a reason to remit money to domestic companies, and they cannot just remit money. MoneyGram should only be for individuals. Remittance business handled through the MoneyGram system is currently limited to US dollars.

Features

1. Fast: only 10 minutes.

2. Convenience: We have more than 300,000 outlets in 197 countries and regions around the world.

3. Reliability: With a long history in the field of remittance, all information entered into the system is confirmed with the customer in advance before the transaction is processed to prevent errors.

4. Simple: Just fill out a form, no bank account required.

5. Security: The details of the transaction are known only to the remitter and the institution handling the transaction.

6. Service: Customer complaints must be handled effectively and as quickly as possible at the branch. If the branch has difficulty handling the complaint, the customer may contact the superior branch or regional MoneyGram office, or contact the MoneyGram Customer Service Center immediately.

Business handling

The process of handling MoneyGram remittance business is as follows:

Step 1: Prepare relevant supporting documents required by foreign exchange management (if necessary) and fill out the application form at the MoneyGram counter.

Step 2: Take the form processed by the counter to the cash area to pay.

Step 3: Take the form back to the MoneyGram counter to process the outward remittance and keep a copy of the receipt for yourself.

Step 4: Notify the payee.

The cash withdrawal process is as follows:

Step 1: The payee goes to the MoneyGram counter with the MoneyGram reference number and valid ID.

Step 2: Based on the amount, provide relevant information as required by the MoneyGram counter.

Step 3: After verification, make the withdrawal and keep a copy of the receipt for yourself.

Fees

1. MoneyGram charges an excess fee. Within a certain remittance amount, the remittance fee is relatively low.

2. No other additional fees and unknown fees: no intermediary bank fees and no telegraph fees.

3. You can check the handling fee online in advance: users can go to Moneygram’s website, click “How to send money” on the left, then click “How much” on the right, enter the remittance amount to find out how much handling fee they have to pay.

Amount Limit

When sending money at an agent location, the maximum amount a user can send is approximately $10,000. You can use the MoneyGram Cost Estimator tool to estimate transaction costs, which may vary by country. Maximum limits on sending or receiving money may also apply.

FAQ

Q: What should I do if I have trouble withdrawing money?

A:

1. Make sure they have the correct number.

2. Verify that the recipient has a valid photo ID (ID card) and that the name on the ID card matches the name you provided when you sent the money.

3. MoneyGram contact information is as follows:

For landline numbers, please dial: 8009909919

Mobile phone: 4008139919

Email: customerservice@moneygram.com

Q: How can I find the nearest MoneyGram agent location?

A: MoneyGram's agent locations around the world are all located in convenient places for customers to use. If customers need to find a nearby agent location, they can use their location tool. For more information, please visit their official website.

Development History

-In 1988, MoneyGram Payment System Inc. was established in the United States with 2,900 outlets.

-In 1997, MoneyGram International Limited (MIL) was established.

-In 1998, Viad/Travelers Express acquired MoneyGram. The parent company, Viad, is a New York-listed company (1940).

-In 2003, MoneyGram International Limited became a 100% subsidiary of Viad/Travelers Express.

-In 2004, Travelers Express/MoneyGram was listed in New York and changed its name to MoneyGram International Inc. (code MGI).

-On January 26, 2017, it was acquired by Ant Financial for approximately US$880 million.

-On January 2, 2018, Ant Financial and MoneyGram said that the Committee on Foreign Investment in the United States (CFIUS) rejected their merger plan on the grounds of national security.