MoneyGram is this a scam? Review and Customers Reviews

Why MoneyGram payment system?

MoneyGram – is an electronic payment system that operates internationally and today offers its customers to use money transfer services in different countries of the world. To send a transfer, it is enough to apply to one of the branches of the company. There are about 350,000 branches in total at the moment. It is possible to receive money transfers directly to a bank account or a mobile wallet, as well as to pick them up from one of the agents.

The movement of funds can be tracked on the official website of the company moneygram.com. In order to find the nearest branch, you can use the automatic search system on the “Location Search” page. The company itself was originally established in the United States back in 1940, as evidenced by the available licenses. In Russia, it deployed its activities relatively recently. Since its inception, the company has been known for its reliability and safety. It is this reputation that allowed it to work successfully on the market of financial services for such a long period of time, and under the influence of evolution and progress to introduce new technologies, to offer relevant services to individuals and legal entities.

What is it really? MoneyGram – is it a scam or a large international payment systemWhat is the best way to make your life easier and more comfortable, and to be able to promptly resolve existing issues? These and other questions will be answered in a detailed review.

MoneyGram for sports betting

Sport has become widespread among fans of outdoor activities, and also managed to acquire a lot of fans. In addition, today sport allows you to get not only a lot of vivid impressions, but also additional profits through a good prediction. In this regard betting companies actively accept bets through MoneyGram. It should be noted that there are relatively few such companies in Russia.

ManiGram for buying/selling cryptocurrency

Marketplace cryptocurrencies is rapidly developing, and the popularity of these financial instruments is only growing. However, not all financial institutions are willing to show trust and start working with cryptocurrencies. Therefore, if necessary, you can always use the services of trusted intermediaries to buy or sell money in cryptocurrency. MoneyGram allows you to make money transfers to pay for such products, but the system itself does not use this type of currency.

How do I use moneygram.com to pay for goods and services?

Service MoneyGram was created to transfer money around the world. At the same time it is not related to the payment systems, but allows transferring funds to the bank accounts of recipients. This means that in order to pay for goods or services it is enough for the user to make a transfer of the required amount.

How to register in the MoneyGram payment system?

In order to use the system, register on the website moneygram.com is not required. To send a money transfer, it is enough to go to the nearest branch with a document certifying the identity of the sender. After filling out a special form, the payment will be sent to a bank account or mobile wallet. When filling out the form, you need to correctly specify and necessarily double-check all the data of the recipient.

Account type

Since this system does not open accounts for clients, but only redirects funds between the sender and the recipient, there is no classification of accounts as such. The system can be used by both individuals and legal entities.

How do I get verified at MoneyGram?

In order to use the service of international money transfers MoneyGram it is necessary to confirm your identity. To do this when applying to one of the company’s branches the client presents an official document. If the system or its employees have any suspicions or doubts, the transfer can be blocked. The blocking can be removed by providing additional information which must be given to the employee of the company.

Deposit and withdrawal from MoneyGram

You can enter money into the system to make a transfer through a cashier in one of the branches or representative offices of the company. You can deposit funds in cash or by bank transfer. Note that the commission fee can be from 0 to 2.5 percent of the total amount of the transfer. In some cases, the minimum amount is $9.95.

Currency of operations

All calculations are made in different currencies, and their exchange is carried out at the rate which is set by MoneyGram and can differ from the bank one. The list of available currencies varies depending on the sender and the recipient country.

Commission

MoneyGram fees can range from 0 to 2.5% depending on the type of transfer and destination. You can get acquainted with the existing tariffs in one of the branches or representative offices of the company.

Payment limits

There are no limits as such. After all, the amount of transfer received depends directly on the amount sent to the recipient. However, please note that when transferring funds to bank accounts or mobile wallets, the payment limit can be set by the company holding the account.

Restrictions on withdrawals to MoneyGram

As such, there are no restrictions on the withdrawal of funds from the system, because the amount depends directly on the amount of the transfer, which was sent to the recipient’s bank account or mobile wallet. It should be taken into account that to receive the transfer through the branch of the company, the recipient must specify the eight-digit number that is assigned to each received amount, which is redirected by the sender’s order. This code should be indicated to the recipient if he/she will pick up the money from the agent.

Bonuses from MoneyGram

A partner program can be a pleasant bonus, which allows its participants to earn additional profits, attract new clients, become part of an international company, and use operational support from it, including in the form of software and training programs. In addition, it significantly expands the functionality and capabilities of the organization, and reduces the amount of downtime. In order to take part in the partner program it is enough to apply at moneygram.com, by phone or in person. After reviewing the application MoneyGram specialist will reply to you.

Reviews of MoneyGram service

A long period of work at the market has allowed MoneyGram to win a stable reputation, which is trusted, the company is considered a guarantor of reliability and safety. It should be taken into account that during this time, both positive and negative reviews appeared on the Internet. Among the positive points, one should mention reliability, safety, speed of transfers, low commissions, transfers around the world. The disadvantages are incompetence of employees, unreliability of information, the need to fill out a form when receiving a transfer, to specify additional information, low availability of transfer processing, because not all banks work with the system.

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MoneyGram regulation and license

At the moment, the activities of MoneyGram company belong to the sphere of financial services, activities in which are strictly regulated by numerous laws at the national and international levels. Therefore, before using the system, it is necessary to study the main normative legal acts as well as internal documents of the company which regulate its local activity.

ManiGram license

The Company was officially incorporated in 1940 in the United States. It operates under its NMLS #898432 Licensed as a Money Transmitter by the New York State Department of Financial Services/Massachusetts Check Seller License #CS0025, Foreign Transmittal License #FT89432.

Documents from moneygram.com: “Terms of Use” (See), “Privacy Policy” (See).

Moneygram.com User Agreement

The relationship between the client and the company at the local level is regulated by the User Agreement. When studying this document, you should pay attention to a number of important nuances that are related to the work of this company. Only adult users are allowed to use the site.

It is necessary to periodically examine the user provision, because when it is updated, information about it appears on the site.

The company has the right to use customer data if necessary. At the same time it should be taken into account that there is a concept of open information. Users can find out more about the terms and conditions that apply in a particular region through the support service.

Customer Service

Customer service department is necessary for the rapid resolution of existing issues, troubleshooting, establishing communication with customers. At the moment the company offers its users to contact the specialists, who can provide assistance, in one of the most convenient ways:

• By phone: 8 (800) 500-92-53.
• By e-mail: [email protected].
• Through the feedback form on the official website moneygram.com.

Is the MoneyGram payment system a scam?

It should be noted that MoneyGram works in the field of finance for a long time and successfully. And you can say unequivocally that MoneyGram is not a scam, but a real company, which is registered in the United States of America. However, it should be noted that, despite such a long period of activity, today many users express dissatisfaction with its work.

This is often due to blocked transfers, which arise due to claims against the sender or the recipient of the money. As a result, the transfer may not be displayed in the database, and to complete it, you need to confirm the information or enter additional data for the recipient or the sender. This can significantly increase the time of receiving the transfer. Besides, in a number of cases there can be problems due to the fact that the company’s activity is covered by the U.S. legislation. As for the positive moments, there are also many of them. The speed of transfers and relatively small amount of commission allows you to send money around the world, and developed agent network to receive or send a transfer in different cities and countries.

Conclusion

As can be seen from the above information, data regarding the work of the company MoneyGram on a particular territory is quite small. Users note both positive and negative aspects of its work. At the same time, it should be taken into account that the major share of dissatisfaction is caused by the necessity to specify additional information for sending and receiving a transfer, as well as a relatively small number of points where it can be done, because not every organization provides the whole range of services despite the developed agent network. Therefore, before you start using MoneyGram, it is necessary to get acquainted with the main rules as well as consult local agents about the service. This will allow to avoid numerous unpleasant moments, to use all possibilities of the service to the full extent.