How to Transfer Money with MoneyGram?

MoneyGram is the world’s second-largest money transfer provider, with more than 350,000 agents in 200 countries. Transfer Money with MoneyGram offers both in-person and online transfers and often promotes its low transfer fees. 

This guide will help you familiarise yourself with MoneyGram and see the benefits and limitations of transferring money.

Transfer money with MoneyGram

MoneyGram makes it easy to obtain money in India. You can receive cash in two ways: 

  • Withdraw cash at an agent location 
  • Directly into your bank account

Let’s see how it works if you receive money from abroad.

MoneyGram Transfer Limit

India has transfer limits, depending on the country from which the funds are coming. If you are in the USA, you can send USD 7,500 per transaction to a bank account. If you’re in the UK, that’s £6,000. 

You can check the transfer limit for your country in the MoneyGram fee estimator. Cash payment for Indian citizens or residents is ₹50,000 INR. If you like to send more than that, it suggests sending a bank deposit (subject to limits). 

Charges for Transfer Money with MoneyGram

MoneyGram has various transaction fees depending on how much you’re sending and your payment method. It also affects how quickly your transaction goes through. Fees were also added to the amount you sent, not deducted.

Receive and process money with MoneyGram

You can do so at any MoneyGram dealer location if you receive cash. 

  • Before you go, check your regional agent’s opening hours. 
  • To receive money, ensure you have a reference number and a valid photo ID from the sender. 
  • Make sure the name on the transfer matches the name on your photo ID.
  • Once there, you may need to complete a general receiving form with a reference number. 
  • Submit the document and ID to the MoneyGram agent to receive the remittance in rupees. 
  • MoneyGram also allows you to send money directly to your bank account. 
  • In that case, the money will automatically credit to your account.

How long does it carry to Transfer Money with MoneyGram? 

For cash pickup, you can expect the transfer to be ready within 24 hours of the transfer being successfully sent. 

If you are receiving money in your bank account in India, the money can reach you within 3 hours, subject to banking hours and approval through MoneyGram’s verification system. It may also exclude weekends and holidays, depending on your specific transfer. 

Send money abroad with MoneyGram.

You can send money from your computer using the MoneyGram website or visit a MoneyGram agent location near you. Currently, sending money internationally from India with MoneyGram is impossible.

Process of sending money with MoneyGram

To send money using cash, visit your nearest MoneyGram agent. Bring your ID, the recipient’s full name, and the cash you want to send. 

Make sure you bring sufficient to cover the fees. We’ll cover that in a later section. Bring the recipient’s bank account information if you send it to a bank account.

You may need to fill out a remittance form when you visit the agent. Once that had done, give the agent your form, details, and applicable fees to process your transaction. You will receive a contact number, which you will need to give to your recipient, particularly if it is a cash pickup.

Send money abroad with MoneyGram online. 

To Transfer Money with MoneyGram online, follow these steps- 

  • Visit the official website and select Asia as the region. 
  • Select India as the country  
  • Select language, then submit.
  • Choose how you want the recipient to receive the money. 
  • Then track a transfer.
  • For India, this had done by cash pickup at a location or direct deposit into a bank account.
  • After entering the amount you want to send and clicking to continue, you will see an overview of your cash transfer, including the transfer fee, exchange rate, transfer rate, and payment methods. 
  • Payment method options are through a bank account or debit or credit card.
  • Choose your preferred payment method (as mentioned before, if you want to do it in cash, you have to do it in person at the agent location) 
  • If this is your first time utilizing MoneyGram, you need to create an account; otherwise, log in with your email address and password.
  • Complete the transaction information, including the receiver’s full legal name, bank information, and other details. 
  • Review and submit the transaction.

Note that if you are based in the UK and sending more than 800 GBP, you must upload a government ID to comply with anti-money laundering regulations. Your transaction will be on hold until this had completed.

If you use a debit card, your bank may have daily limits on how much you can send. Credit cards can be similar, and the credit card company may charge you cash advance fees and interest charges. It may be cheaper for you to use your debit card or bank account.

Check the money transfer status with MoneyGram.

When your money transfer is complete, you’ll receive an email letting you know the money is ready for pickup. The email contains a transfer reference number that the recipient needs to withdraw money with a valid ID. 

You can also track the transfer with reference number and surname on the Moneygram website.

MoneyGram Customer Support

Money Gram offers a basic FAQ page and toll-free customer service numbers to reach by phone. 

You can also email them at [email protected]  for your transaction-related issues. MoneyGram received a low score from customers on http://trustpilot.com/ with many dissatisfied transactions.

FAQs

Do I need a bank account to receive MoneyGram? 

With MoneyGram, you can seamlessly send currency across continents and access cash within 10 minutes*. Plus, you don’t need a bank account and can deposit funds directly into a digital wallet.

How long does it take to transfer to a MoneyGram bank account? 

You can initiate a wire transfer via banks or non-bank services such as Western Union or MoneyGram. Domestic wire transfers (transfers to US banks) had usually completed on the same business day. International wire transfers usually take longer—sometimes up to five business days.

Can money be sent directly to a debit card? 

Sending funds straight to a debit card wasn’t a widely available money transfer option. But it is becoming more common. Whether you’re transmitting money from a credit card, bank account, or debit card, the process is simpler than it once was. 

Do you need an ID to cash MoneyGram Bank? 

Make sure you have the correct identification to cash the money order. It includes photo ID: a driver’s license, passport, or other government-issued ID. You need an ID to cash a money order.