MoneyGram adds new ID requirement for all money transfers |

MoneyGram adds new ID requirement for all money transfers

Ryan Brinks 19 January 2018 NEWS

A woman writing on paper with dollars bills by her side

The new security measure aims to protect customers from the risk of money laundering and fraud.

You’ll now need to prove your identity to send or receive money through MoneyGram. The money transfer service launched the new requirement in the US this month, and it will soon be applied worldwide as well.

Aimed at preventing illegal activities like money laundering and fraud, MoneyGram’s new rule applies to transfers of any amount. Expect to show official identification and provide your name, address, phone number and date of birth on whichever end of the transaction you’re involved with.

“The simple fact is that global risk is on the rise,” MoneyGram chief executive officer Alex Holmes said. “… MoneyGram has chosen to be a leader in consumer protection by being first to market with customer identification required at $1.”

Beyond the new mandatory identification requirement for any amount of money transfer, the company noted that additional data collection requirements would apply for higher transaction amounts – though it didn’t specify how much.

In an industry recently plagued by scams and fraud – Western Union is paying back $586 million to scam victims who used its service – MoneyGram is making a move to set the bar higher than the law and industry standards.

Holmes said the company has invested hundreds of millions of dollars in recent years to beef up its compliance program and safeguard its customers’ money.

Security isn’t the only hot-button topic in the money transfer industry. A number of smartphone apps like Apple Pay Cash are getting into the game, though most don’t yet have the capability to transfer funds across international borders. Nevertheless, these social payments are predicted to grow the business about 50% this year. Even more technologically advanced is the concept of blockchain-based money transfer services through cryptocurrencies like Ripple or Stellar Lumens, which are being tested by MoneyGram and banks around the world.

Compare MoneyGram with other leading providers in our guide to international money transfers.

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8 Responses

  1. Default Gravatar
    RexMay 19, 2019

    I lost my driver license can i use my passport card as identification to receive money freon Walmart to Walmart moneygram?

    • Avatarfinder Customer Care
      BellaMay 19, 2019Staff

      Hi Rex,

      Thanks for your inquiry.

      Yes, you may use your passport to pick up the cash from Walmart Moneygram.

      I hope this helps.

      Kind regards,

  2. Default Gravatar
    PrinceJanuary 4, 2019

    Why did Moneygram insist that I come back tomorrow to receive the money that was sent to me on the 2nd of January?

    • Avatarfinder Customer Care
      CharisseJanuary 4, 2019Staff

      Hi Prince,

      Thanks for reaching out to finder.

      While money sent through MoneyGram is typically ready for cash pick-up within minutes after the transfer has been sent successfully, it is subject to compliance with regulatory requirements.

      It’s possible that MoneyGram is still verifying the transaction that’s why they were not able to release the money yet however, it’s best for you to speak with them directly to know what may have caused the delay.

      I hope this helps.


  3. Default Gravatar
    ZelDecember 17, 2018

    Can I send money to abroad using my expired passport?

    • Avatarfinder Customer Care
      CharisseDecember 18, 2018Staff

      Hi Zel,

      Thanks for reaching out to finder.

      Generally, the ID that you present or use as proof of identity when transferring money, should be active and current for it to be valid. If your passport had already expired, it may not be considered valid anymore.

      However, requirements vary by country and agent so it’s best to contact your local MoneyGram agent in advance for information about their process and procedures.

      I hope this helps.


  4. Default Gravatar
    DavidNovember 10, 2018

    how can I get remove from high risk fraud case because my family member want to send money though Walmart to Walmart

    • Avatarfinder Customer Care
      JoshuaNovember 21, 2018Staff

      Hi David,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      If you were blocked by MoneyGram due to security reasons, you would need to directly get in touch with them to clear things out. You may want to ask about the real reason and from there, you should be able to know how you can start using MG again.

      However, if after trying to solve the problem and still no solution, you might want to use other service providers. Check your options here.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


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