A step-by-step guide to safely transferring cash with MoneyGram
Americans with loved ones living in or traveling abroad are probably familiar with the concept of using a transfer service to send money overseas. But you’ll find other reasons to transfer money internationally — to pay school fees for a kid studying abroad, purchase property or antiques from another country or to top up a foreign bank account. When it needs to get there quickly, MoneyGram is an option.
What is MoneyGram?
MoneyGram is a trusted provider of fast, secure money transfers. Founded in 1940, it has grown to include 350,000 agent locations worldwide — with 40,000 in the US alone. It charges low transaction fees and offers competitive exchange rates, and setting up a transaction online is surprisingly uncomplicated. In some areas, it offers home delivery as well as the option to send money to a debit card or mobile wallet.
How much will it cost to send money through MoneyGram?
MoneyGram’s fees vary by how much you are sending, the country you’re sending it to and how you’re paying.
For example, if you’re sending $1,000 online to Mexico for cash pickup, you’ll pay a fee of $4 if sent from your bank account or $15 if you use your credit or debit card. Sending the same amount to India costs $5 for an online transfer or $10 for credit or debit card transactions.
Before confirming your transfer, you’ll learn exactly how much you’ll pay in fees and how much your recipient will actually get.
Compare international money transfers
What do I need to send money through MoneyGram?
Unlike other money transfer services, MoneyGram does not require you to create an account to send cash. Whether in person or online, you’ll need:
- Your full name and contact information. If you’re transferring money from your bank account, you’ll also need your banking information.
- Government-issued ID. Such as a driver’s license or passport.
- Your recipient’s name and contact information. If you’re transferring to a bank account, you’ll also need their bank name, SWIFT code and account number.
- A valid method of payment. Online you can pay by bank account, credit card or debit card. In person, you can also pay with cash.
If your recipient will be picking up cash in person, let them know to bring along a required ID.
Short for the cumbersome Society for Worldwide Interbank Financial Telecommunication, a SWIFT code is an international bank code used for incoming transfers. Overseas banks each have a unique SWIFT code that identifies which bank to send money to.
Steps to transferring your money online with MoneyGram
Step 1. Go to MoneyGram’s website and click “Send Money.” You can either create an account or send your transfer as a guest.
Step 2. Complete your recipient’s name and country. Indicate how you would like for them to receive your money and in what currency.
Step 3. Choose your method of payment and confirm your fees. Click “Next.”
Step 4. Fill in your banking and contact information.
Step 5. Once complete, confirm that your information is correct and submit. MoneyGram will email confirmation and a tracking number for your order within minutes.
What happens next?
- Cash pickup within minutes. Your recipient can pick up your transfer at a MoneyGram location shortly after it’s complete. For bank account transfers, the money is available within 24 hours.
- Track your transfer. With the Track a Transfer tool, you can use your last name and confirmation number to follow your transaction through to receipt.
- Contact customer service. If you need help, call 24/7 toll-free at 1-800-666-3947 or complete a help form online.
Can I cancel a money transfer?
Yes, if it hasn’t yet been picked up by your recipient. To cancel a transfer, log in to your account and view your transaction history. There is an option to cancel specific transfers on the Transaction Details page. If you sent the transaction online but do not have an account, first use MoneyGram’s Track a Transfer tool to find it and then cancel it on the Transaction Details page.
How can I find a local MoneyGram agent?
Use MoneyGram’s Find a Location tool to search for agent locations worldwide.
How secure is the MoneyGram website and money transfer service?
MoneyGram uses state-of-art and proven technologies to protect and secure your personal information. They are committed to protecting your privacy and financial information.
How safe is a money transfer?
When processed through a reputable bank or company, your funds are safely tracked until in the hands of your recipient. And if you’re sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees up front and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.