MoneyGram is a Dallas, Texas-based U.S. company engaged in money transfer and bills payment services. Established in 1940, the company serves retail and corporate clients through a global network of agents as well as financial institutions.
The company was initially named the Travelers Express Co., Inc. which was based in Minneapolis. It was the largest money order provider in the United States until its reorganization in the early 1990s.
In 1998, Travelers Express merged with Moneygram Payment Services, which was acquired by its parent firm Viad Corporation. Six years later, the company was renamed MoneyGram Inc., a new publicly traded firm.
The company fell into tough times in 2008 when its investments in securities lost sharply. Shares of MoneyGram fell by 96 percent from 2007 until 2009. It was able to recover in 2009.
Below are the latest MoneyGram fees.
Domestic Money Transfers
|Up to $50.00||$5.00|
|Up to $200.00||$11.50|
|Up to $400.00||$23.50|
|Up to $600.00||$37.00|
|Up to $800.00||$62.00|
|Up to $1,000.00||$78.00|
|Up to $1,200.00||$95.00|
|Up to $1,400.00||$115.00|
|Up to $1,600.00||$140.00|
|Up to $2,000.00||$155.00|
|Up to $2,500.00||$170.00|
|Up to $3,000.00||$185.00|
|Up to $4,000.00||$220.00|
|Up to $5,000.00||$260.00|
|Up to $10,000.00||$440.00|
International Money Transfers
|Up to $50.00||$5.00|
|Up to $1,000.00||$9.99|
|Up to $1,200.00||$25.00|
|Up to $1,500.00||$31.00|
|Up to $2,000.00||$41.00|
|Up to $3,000.00||$61.00|
|Up to $4,000.00||$81.00|
|Up to $5,000.00||$101.00|
|Up to $10,000.00||$201.00|
How to Send Money With MoneyGram
Sending money through MoneyGram can be done online, or through one of its 345,000 locations in more than 200 countries worldwide.
To send money online, go to the MoneyGram website. Choose the country where your intended recipient is located, select the method by which the receiver will get the money, and enter the amount of money to be transferred. Recipients may pick up the money at any MoneyGram agent, or have the amount transferred to their bank account.
The browser will then redirect you to another page which shows the cost estimate of the money transfer service, including the MoneyGram fees, speed by which the transfer service will be completed, and the payment methods. Choose from two options—same day or economy.
In same day option, the receiver will be able to get the money on the same day you transferred the amount. In the economy option, he or she would have to wait for three business days before picking up the money.
Once you have made your selection, the website would require you to register an account. You’ll need an e-mail address for this. If you are a returning customer, simply sign-in to your MoneyGram account.
For sending money through a MoneyGram agent, simply find a MoneyGram location near you. Bring a government-issued I.D. such as passport or driver’s license, complete a money transfer form, and give these to the MoneyGram agent along with the money plus transfer fees.
Keep the receipt which has the reference number that the recipient should be aware of so that he or she can get the money you just transferred.
A new service that MoneyGram has recently offered is the option for clients to transfer money directly to the bank accounts of their receivers.
Bills Payment With MoneyGram
Bills payment via MoneyGram is reliable and secure. Billing companies will be notified of your payment minutes after the payment was consumed.
There are other services that MoneyGram provides, like prepaid card loading, inmate services, and government payments.