Sending money to almost 200 countries MoneyGram has already proved its position as a stable company. An extended network of locations and online/offline support makes it useful for customers without a bank account. If comparing to other providers, you may notice better exchange rates as well.
But there are still so many options (like a deposit to a mobile wallet or prepaid card, direct home cash delivery) you can probably ask “Is MoneyGram safe enough to send any amount of money anytime? What are the downsides? What should I be aware of?” Let’s explore does this company protect every single transfer?
Some Important Detail
“Directly to the receiver” or how customers talk about safety. There is a low probability someone strange will pick up your money. At any agent location, there is no way to fake the identity test. On the contrary to unknown facilities, MoneyGram had performed millions of transactions successfully.
This service is confirmed by Entrust, Inc. (big financial establishments use it worldwide) and applies a lot of measures for a better liaison. After seventy years operating on the market, MoneyGram was named the second largest service around the Globe. It allows sending money really fast in case of emergency.
The next point is in tracking records. You may easily check the status online by typing the last name and reference number. Besides, is MoneyGram at Walmart also safe to use? Or visiting an original location is better?
There is no difference in operating; choosing one certificated provider, you share the same advantages of applying it (high speed, competitive rates of exchange, etc). MoneyGram locations at big shopping stores attract more customers. Sometimes they are less occupied and placed very close to your house.
What You Should Know Before Transfer
The safety of cash depends on you. Always ask before proceeding:
- How much does transaction cost?
- What taxes will be withdrawn?
- Are there any fees abroad (sending overseas) at the service location?
- What is the total amount to be received?
- How big is a currency rate of exchange?
Following these simple steps, you will prevent misunderstanding. That’s kind of security tools too. So, if there’s an issue, you will possess the necessary information and also warn your receiver about some possible expenditures.
People often leave unsatisfied because of changeable fees. While the rates are unstable, services’ prices may seem overpriced.
Also, there’s a name arrangement rule – agent needs strictly your full name as in ID. No mistakes should be made. Customers may call it rigid, although most completely agree.
As was reported in reviews, MoneyGram has a tendency to void transactions, when something seems inappropriate. Moreover, there may be a conflict between a sender and a receiver because of such protection. One person is waiting, while another is absolutely confident cash has been picked up.
There’s no service with 100% proof and surely MoneyGram has to deal with many troubles. But its reliability and some financial aspects make people use it over and over. So, know your rights and operate them. But if you are not sure just compare it with other services and find another way to send money.