Check out these MoneyGram promotions, deals, discounts and more!
The premier money transferring service has a deal that will save you money on your transfers. For those unaware, MoneyGram operates in more than 200 countries and territories worldwide and allows the transfer of money online or in person.
You can easily move your funds to a bank, mobile wallet, or to cash at one of 350,000 agent locations globally. This is a limited time offer so be sure to take advantage of it while you can.
If you’re interested in more platforms like MoneyGram then be sure to check out our posts for TransferWise, Cash App, Remitly and Xoom. In addition, you can see all money transfer service offers here.
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Current MoneyGram Promotions
20% – 40% Fee Discounts
As a welcome offer, check out this MoneyGram promotion offering their rewards program called Plus+ Rewards where you can save on their fees. You will earn a 20% off welcome gift fee discount on your second transaction after enrollment. Then, get a 40% off fee discount after every 5th transaction.
- Promotion: 20% – 40% Fee Discounts
- Expiration: Limited time offer
- Availability: Nationwide
- Terms & Conditions: Must enter promo code to redeem offer
(Visit the link above to view this promotion)
MoneyGram: In A Nutshell
Via mobile app
Via Facebook Messenger
|Transfer Speed||1 day|
|Transfer Limits (online)||No travel credit|
MoneyGram: How It Works
Transferring money with MoneyGram is simple and easy. Along with typical transfer methods, the company also offers home delivery and the option to send to a debit card or mobile wallet. Often times, there will be some MoneyGram promotions to help you save money.
You can send money online, in person at any of MoneyGram’s agent locations, via MobilePass, or by MoneyGram Sendbot, a Facebook Messenger app.
You have the option of receiving money by:
- Picking it up from one of the 350,000 MoneyGram locations around the world
- Bank account deposit
- Mobile wallet deposit
- Inmate county, state or federal correctional account deposit
Sending Money Step-By-Step
To send money, simply get your recipient’s full name, how much you want to spend and where the money will be sent to. Once you set up your MoneyGram account, you’re ready to start making cash or online transfers.
- Cash transfers. Find a MoneyGram agent, bring identification (passport or driver’s license) and fill out the money transfer form. Afterwards, contact your recipient and give them the reference number.
- Online transfers. Log into your MoneyGram account, input the amount you’re transferring and accept the quote. You’ll need to send MoneyGram the funds, and the company will in turn send it to your recipient.
Tracking Your Transfer
Tracking your transfer is simple and can be done in two ways. The first option will require you to log into your MoneyGram account online to view your transaction history.
If you are the recipient, you can use the transaction reference number or transaction authorization number to track it. All you have to do is head to the Track a Transfer tool on the MoneyGram website.
- Money orders. MoneyGram used to be a money order service when it was first founded in 1940. While the company still offers money orders, it only represents a small fraction of the company’s total revenue. Money orders are only available at certain agent locations in the United States.
- Bill payment. This service allows you to pay bills from over 13,000 companies. Payment types with MoneyGram include the following:
- Auto finance
- Cable & satellite
- Child Support Services
- Credit card (only at agent locations)
- Health care
- Mobile phone top-up
- Phone bill
- Prepaid credit cards (only at agent locations)
- Utility Bills (electric, gas, sewer & water)
- Mobile top-up. Thanks to its partner TransferTo, you can top up prepaid mobile phones of more than 350 mobile carriers in over 100 countries across the globe. Pay at MoneyGram
MoneyGram: Fees & Rates
As mentioned above, the fees you will have to pay will depend on how much you’re sending, where you’re sending it, and the payment and receiving methods. Here are some things to keep in mind:
- If available, it’s best to pay by bank transfer.
- Sending to a bank account is usually cheaper than sending for cash pick-up.
- If you’re sending to a bank account, it’s less expensive to send at an agent location rather than online, regardless of how you’re paying for it.
- If you send money for cash pick-up, do it online. It’s cheaper, but only if you pay by bank transfer.
Here is an example using a $1,000 online transfer for cash pickup:
|Send Country||Receive Country||Transfer Method||Fee|
|United States||Mexico||Bank Account||$4|
|United States||Mexico||Credit Card||$15|
|United States||India||Bank Account||$6|
|United States||India||Credit Card||$10|
One of the ways MoneyGram makes money is through the use of padding the exchange rate. What this means is the rate offered to you is not as good as the real mid-market exchange rate, and the company makes off the difference. Usually, the difference is small but it can sometimes surpass 5%.
There are other providers in the market that may have a smaller markup, but they don’t offer as much in terms of payment and deliver options. For example, OFX (one of the cheaper options in the market) has markups of 1% to 2% on top of the mid-market rate but they do don’t offer as much in payment and delivery options compared to MoneyGram.
MoneyGram: Transfer Speed
Transferring to a bank account, funds can arrive in a matter of hours, however the exact time frame depends on the country and their local banking hours. To learn more about which countries will support quicker transfer times, head to MoneyGram’s FAQ page online.
If you happen to make a lot of money transfers then you can it can be a pain dealing with transaction fee. Utilize these MoneyGram promotions to help save you some money.
(Visit the link above to view this promotion)