How to Redeem MoneyGram Promo Codes
- Enter the amount you want to transfer and the destination for the funds.
- Look for the section labeled “Enter a Promo/Coupon Code” below the payment options.
- Enter your MoneyGram discount code and click Apply to see your discount applied to the total.
About MoneyGram
With a history spanning over 80 years, MoneyGram has evolved from its humble beginnings as a provider of money orders to become a modern fintech company. Its core mission is to move money across borders seamlessly, affordably, and securely for everyone.
Operating in over 200 countries and territories, MoneyGram has one of the world's most extensive networks, which includes over 400,000 retail locations and a powerful digital platform, providing a reliable way to send money home to loved ones.
How MoneyGram Works
MoneyGram's process is designed to be quick and straightforward for both the sender and the receiver. The steps can vary slightly depending on whether you send online or in person.
For the Sender
- Go to the MoneyGram website or app and log in, or visit an agent location.
- Provide the recipient's full legal name, their location, and the amount you want to send.
- Select how the recipient will get the money (e.g., cash pickup, direct to a bank account, or mobile wallet).
- Pay for the transaction using a bank account, debit card, credit card, or cash (if at a location).
- Once the transaction is complete, you will receive an eight-digit reference number. Share this number with the recipient.
For the Recipient
Cash Pickup: The recipient must go to a MoneyGram agent location with a valid photo ID and the transaction's reference number. The name on the ID must exactly match the details provided by the sender.
Bank Account/Mobile Wallet: No action is needed. The funds are sent directly to the account, and the recipient will be notified once the transfer is complete.
Understanding MoneyGram Fees and Exchange Rates
The final cost of your money transfer depends on a number of factors. Understanding these can help you choose the most cost-effective option:
- Payment Method: Fees can vary depending on how you pay for the transfer. Paying with a bank account is generally cheaper, while using a debit or credit card may incur higher fees.
- Receiving Method: The way your recipient receives the money also affects the cost. Fees for transfers sent to a bank account or mobile wallet are often lower than those for cash pickup.
- Exchange Rates: MoneyGram makes a profit from the foreign currency spread, which is the difference between the exchange rate it offers and the mid-market rate. This is where a significant portion of the cost of a transfer lies, and it can fluctuate daily.
You can easily get a no-obligation quote and compare different payment and receiving methods on MoneyGram's website or app to find the best rate and lowest fee for your specific transfer.
FAQs
1. How do I track a MoneyGram transfer?
To track your transfer, you will need the eight-digit transaction reference number found on your receipt or confirmation email. You can enter this number on MoneyGram's website or app to view the real-time status of your transfer.
2. What are the transfer limits?
For security purposes, MoneyGram imposes limits on the amount of money you can send. These limits vary based on factors such as your payment method, the destination country, and how often you send money. You can check the specific limits for your transfer by starting the process on their app or website.
3. What do I need to send money with MoneyGram?
To send a transfer, you typically need a valid government-issued photo ID, the recipient's full legal name, and their current location.
4. Can I schedule a recurring send to send money transfers on a weekly or monthly basis?
You cannot schedule recurring transfers, but MoneyGram offers the "Send Again" feature, which makes it easy to send money to the same recipients repeatedly. Simply go to your account history, select a past transfer, and click "Send Again."
