MoneyGram - what kind of payment system is it? How does it work? Where can I get Moneygram transfers and how to send money? We will examine these and some other questions on the topic in our article.

MoneyGram is an American instant system.

Below we will look at some general information, the affiliate system and the geography of the service.

General information

Suffice it to say that the company of the same name has existed since 1940: It immediately becomes clear that such age predetermines the presence of many years of experience in matters of handling money, the scale of activity and reliability. Of course the payment service itself is less than years old, but he has long been very popular among his clients and enjoys their almost unlimited confidence.

Note 1. MoneyGram shares are listed on the New York Stock Exchange.

In 2012, the company created a charitable foundation to help children from poor families: funds are used to provide access to training and education.

PS is not very popular in Russia. This is explained, for example, by the presence - this company came to our country earlier and managed to take its position. However, today, with the development of the Internet and the growing interest of people in online management of their finances, MoneyGram is beginning to increase its audience: users are looking for the most suitable option for themselves.

Partners

MG's main partners are large financial organizations acting as agents. The essence of cooperation with them is that MoneyGram clients can send or receive money transfers through these institutions.

The lead in terms of the largest number of offices predictably belongs to the USA: there are 47,000 of them. Next in descending order are: China, Italy, Spain.

Who is main representatives of the PS? These are the Bank of China, Advance America, Bank of Ireland, grocery retailer Albertsons, Royal Mail of England, some Spanish banking organizations, etc.

Important! There are more than 13,000 MG service points operating in the countries of the Commonwealth of Independent States.

Which domestic banks does he work for? On the territory of the Russian Federation, the translation system is represented by such institutions as:

• Svyaz-Bank;

Note 2. In addition, you can work with translations in Russian communication shops.

Geographical coverage and customer base

Due to the scale of MG's activities, translation through the service can be obtained almost anywhere. Today, global coverage includes 200+ countries.

Important! MoneyGram has 327,000 service points and 10,000,000 clients.

The number of company offices is constantly growing, particularly in Russia, so problems with finding them, as a rule, do not arise.

How to identify a payment system representative? According to the brand logo, which is usually placed in stores, travel agencies, exchange offices, communication shops, etc. places.

Who uses PS most often - who benefits from it? Here we can mention the following categories:

• migrants working in a foreign country and needing to send earned capital home;
• travelers/tourists who find themselves in difficult situations;
• students receiving money from relatives;

As we can see, MoneyGram has an impressive network and capabilities.

Specifics of translations

To understand how the translation system works, you need to understand its pros and cons, as well as the rules of operation.

Advantages

Positive points include:

1. Efficiency of translation. Regardless of the destination, funds can be received 10 minutes after they were sent.
2. No need to link to an address. The client can pick up the money anywhere in the country where it was sent.
3. Transfer availability period. The transfer is available for 90 days.
4. The insignificance of the distance factor. Money is transferred to any country of service. Such transfers are not carried out within the Russian Federation - the MG company has not been registered as a payment system.
5. Failure to use bank details. There is no need to enter into an agreement with a financial institution.
6. Security of transactions with bank secrecy. All information is strictly confidential - third parties cannot access it
7. Possibility of sending a comment. You can send a message of 10 words (no more) along with the money.

There are definitely advantages and they deserve attention. In addition, these are not ephemeral advantages, but actually increase comfort during the operation of the PS.

Flaws

There are three disadvantages:

• transfers are available only to individuals – business representatives are not allowed to use the service;
• the sender is obliged to notify the agent about the transfer currency;
• the recipient loses on conversion if the transfer is sent to a country that does not use dollars or euros.

Although there are very few negative aspects, they cannot be ignored. It may seem to some that the listed points can hardly be classified as disadvantages, but in a number of situations the nuances mentioned above can cause some inconvenience.

Rules

All transfers within MG are subject to the rules - they are general and apply at any point of departure or receipt:

1. In the Russian Federation there is a system of restrictions on the amount of transfer. A daily limit of $5,000 is available for residents. For a non-resident it is $10,000.
2. Transferring money from Russia is possible only in American currency. In this case, you can receive the amount in both dollars and euros.
3. The operation involves a commission fee. It all depends on the destination. The amount may be included in the shipment or may be charged on top. The one who sends pays for everything. There are no other additional fees.
4. To use the translation service, you need to present your passport, foreign passport or form 2-P– temporary identity card (when the main document is being replaced in the process). For a non-resident, you need not only a foreign passport, but also a visa (or a similar document confirming the right to be on the territory of the state).

There are also few provisions, but compliance with them is strictly mandatory.

Sending and receiving money

Let's consider the root phenomenon of the system - the transaction.

At the agent's office

To register, you need to choose an agent (bank, mobile phone store). The simplest option is Sberbank, because... its branches are everywhere.

The form specified by MoneyGram is filled out on the spot. It must indicate:

• states of sending and receiving money;
• amount;
• Full name of both participants Latin alphabet;
• passport details, residential address, type of activity;
• purpose of the transfer (not necessary, but may be necessary if the amount exceeds $1,000);
• security question and answer (not always necessary).

Note 3. The recipient must be provided with a control number of 8 or 11 digits when sent from the post office.

It happens that the recipient does not know the exact name and amount, or there are errors in these data. MG allows the payment to be processed correctly by loading the correct information from the database.

The agent may refuse to provide funds if:

• there are more than three errors in the full name;
• the country of registration is indicated incorrectly;
• the error rate exceeds 10%.

Always pay special attention to providing correct information.

On the MG website

You can complete the transaction online– on the service website. Here you will need a card with the amount placed in advance for sending (including commission). The recipient also needs the plastic: he will not have to visit the collection point.

Anyone who owns a wallet in , can replenish it through MoneyGram.

Payment

The service fee depends on:

• the point at which the transaction is executed;
• destination countries;
• refillable amounts.

The commission in most cases ranges from 3 to 5 percent.

To CIS countries, the cost of transfer does not exceed 2%. For shipments to Europe or Asia, the fee can reach 7%.

On this page of the MG website there is a calculator with which you can calculate the price for the translation.

MoneyGram calculator on the service website

Where and how to check the status of the operation - methods

You can also control the payment by its number (or by authorization number) - using the option on the website. Where to look? On the payment receipt, which confirms the fact of depositing money through the cash register.

“Track a Transfer” option

Note 4. If the transfer was made by mail, an 11-character number will be required. It is on the left side of the document that needs to be filled out for the recipient (most often highlighted in red).

In case you need to find a lost translation, a form is also provided Claim Card.

Important! If you have lost your outgoing transaction number, use the Number Search service on the MoneyGram website. Data is stored for 10 years. If this does not help, call the support service at 8 800 500 92 53 - this is the number for Russia.

If you cannot solve the problem yourself, contact the office where the transfer was made. The specialist will contact the MG hotline operator himself.

Registration of return

Returns, if necessary, can be issued at any time. You just need to visit the agent’s office where the sender carried out the event.

When the return is made on the day of departure, all you need is your passport and transaction number.

If you contact us on a different day, a new number will be generated for cancellation and you will receive it on the support line. The call is made either by the sender or by an agent representative. Such a payment requires indication in the application: the sender is MoneyGram, the country of registration is the USA (for euros - Albania).

Important! If 45 days have passed since the transfer, the commission will not be returned.

Of course, a refund can be made if the recipient has not been given the amount.

Combating illegal activities

There is a special program (compliance) within the MG system, which aims to prevent and suppress illegal financial manipulations, fraudulent schemes, and terrorist financing. She also monitors compliance with sanctions.

All transactions registered in the service are controlled. Close attention is paid to:

• large amounts;
• suspicious transactions;
• special category countries.

At the slightest suspicion of violations, the transfer is blocked. Unblocking occurs by calling the hotline: in this case, the sender or recipient will be forced to provide explanations.

If it is impossible to unblock, the operator notifies you of this circumstance and recommends contacting an agent to issue a return.

In Russia, there is a limited regime for sending transfers to Ukraine. Today, transfers are no longer sent, but receipt is possible.

What problems are encountered?

Although problematic situations occur very rarely, it would be useful to describe the most likely ones:

1. The service itself does not function.
2. Translation processing is very slow.
3. The operation is not performed due to refusal - for example, due to suspicion of fraud. This happens when the client cannot provide reliable information about the sender, and in a number of other situations.
4. The operation is not performed due to refusal due to the division of the amount sent. This happens if the client transfers a large amount of funds and divides them between several persons - while the beneficiary is the same.

If you encounter such difficulties, contact the service support team and find out what can be done in the current circumstances.

Conclusion

Sending money, checking the status of the transfer and receiving funds within the MoneyGram system is quite simple. As always, the main thing is to carefully enter the data and strictly follow the rules, then using this service will be comfortable for you.

In contact with

MoneyGram International is one of the undoubted leaders in the modern money transfer market. The company's sphere of influence is not limited only to the USA and Canada, where the brand provides bill payment services, but the company also provides financial transfers around the world. MoneyGram is:

• 345,000 branches, including financial institutions, national postal services;
• 38,000 branches in the CIS;
• 25,000 branches in Russia;
• presence in more than 200 countries in the world.

At the same time, the company does not plan to rest on its successes, continuing to actively develop, creating all the conditions for fast, convenient, and reliable translations.

MoneyGram: where to receive a transfer

There are many companies offering money transfer services on the Russian market. One of the most interesting options is MoneyGram, a company that provides:

• efficiency. Your transfer will be delivered within 10 minutes after it is sent;
• comfort. There are 25,000 MoneyGram branches in Russia, and 345,000 branches worldwide;
• availability. To send a transfer, all you need is a passport. The recipient will also only need to present an identification document.

You can receive the transfer at any MoneyGram branch by informing the operator of the amount and transfer number.

MoneyGram: money transfers

MoneyGram is one of the leaders in the modern market in the field of money transfers. With MoneyGram you can send money almost anywhere in the world, and for this you do not need a bank account or a bank account, but only a document that proves your identity.

With MoneyGram, money transfers are delivered quickly and easily - ideal for:

• labor migrants sending their earnings home;
• tourists who find themselves in a difficult situation;
• students sending money to their parents (or vice versa, for parents helping their children financially).

MoneyGram: commission

Of course, as with any other money transfer, when transferring money through MoneyGram, the sender pays a commission. The size of the commission depends on many factors:

• from the place where the transfer was sent: this could be a retail chain or a bank branch;
• from the country where the money is sent;
• from the amount you want to transfer.

On the company's official website you will find an online calculator with which you can calculate the commission for each specific case.

Please remember that in addition to the commission directly for the transfer itself, a certain percentage may be charged for currency conversion (conversion is carried out in accordance with the exchange rate set by MoneyGram or its agent).

MoneyGram: tariffs

The first MoneyGram transfer was sent more than half a century ago - in 1940 (this was in the USA, Minneapolis). Today the brand is known all over the world and attracts more and more new customers due to the absence of restrictions in terms of geography of transfers and favorable tariffs. Transfers are made in US dollars, but you can also receive them in euros or even local currency. There are also small pleasant surprises, for example, the ability to accompany the translation with a free message of up to 10 words.

On the official website of the MoneyGram company or on the Sravni.ru resource you will find a lot of interesting and useful information about the features and advantages of working with MoneyGram.

To which countries can I send a MoneyGram transfer?

The list of countries to which it is possible to send a MoneyGram transfer is available here

Can I send a MoneyGram transfer to Ukraine?

MoneyGram transfers are not sent to Ukraine. Transfers to Ukraine can be sent to an account using the SWIFT system.

In which Sberbank offices can I make MoneyGram transfers?

You can find the desired Sberbank office on the “Branches and ATMs” page (“Select services” → MoneyGram).

Can I send or receive a MoneyGram transfer at an ATM or in my Sberbank Online personal account?

You can perform all MoneyGram transactions only at Sberbank offices.

In what currency can I send and receive a MoneyGram transfer?

You can send a MoneyGram transfer in US dollars. You can receive a MoneyGram transfer in US dollars and euros.

What is a transfer control number?

MoneyGram assigns a control number (unique identification number) to each sent transfer, knowledge of which by the recipient of the transfer is a prerequisite for its payment.

The transfer control number is reflected in the application that is issued when processing the transfer.

Don't forget to provide the transfer control number to the recipient.

How quickly can a recipient pick up a MoneyGram transfer sent to him?

The MoneyGram transfer becomes available for receipt 10 minutes after it is sent.

Where can I receive a MoneyGram transfer abroad?

Abroad, the transfer can be received at the points of issue of the MoneyGram payment system. You can find a convenient pick-up point using this link.

In what exceptional cases is it permissible to issue a transfer to a recipient if the full name in the transfer details does not match the data in the recipient’s identity document?

Such exceptional cases include discrepancies of 3 letters (first and last names in total) of the sender or recipient from the transfer specified in the details when sending it.

The decision on the possibility of payment in case of an acceptable discrepancy is made by an authorized employee of the Sberbank office.

What to do if the recipient cannot receive the transfer?

Make sure that when making the transfer, the recipient's details were correctly indicated - his full last name, first name and patronymic (if any). If you find an error in the recipient's full name, correct the transfer at the Sberbank office where the transfer was sent. You can check the correctness of the recipient's details in the application you received when making the transfer.

Make sure the control number sent to the recipient is correct. If necessary, provide the control number to the recipient again.

In case of technical failures or blocking of the transfer on the side of the MoneyGram payment system, you must contact the contact center of the MoneyGram payment system by phone 8 800 500-92-53.

In what cases and where can I correct the translation?

The sender can make changes to the not yet received transfer regarding the recipient's last name and/or first name and/or patronymic. To do this, you must have your passport and the application issued when sending the transfer with the transfer control number (8 digits).

The transfer can be adjusted at the Sberbank office where the transfer was made.

Can I cancel the transfer?

If less than 45 calendar days have passed since the transfer was sent, you can cancel the transfer that has not yet been received at the Sberbank office where the transfer was sent. To cancel, you must have your passport and the application issued when sending the transfer with the transfer control number (8 digits). You will be refunded the entire transfer amount and the commission amount.

If more than 45 calendar days have passed since the transfer was sent, you need to contact the MoneyGram Customer Support Center by calling +7 495 363-66-36 or 8 800 200-47-26 (calls within Russia are free). The MoneyGram Customer Support Center will provide you with a new transfer control number, which you can use to cancel (receive) the transfer at the Sberbank office where the previously completed transfer was sent. You will only be refunded the amount of the transfer.

There is no fee for canceling a transfer.

What to do if the transfer control number is lost?

If you are the sender of the transfer, you need to contact the MoneyGram payment system contact center by calling 8 800 500-92-53, where you will be given a new control number.

How can I check the status of a transfer?

You can check the status of the transfer using its control number on the website of the MoneyGram payment system or by contacting the Sberbank office where the transfer was processed.

How long is a MoneyGram transfer stored?

A MoneyGram transfer is available for receipt at Sberbank before it is paid out or until the transfer is canceled by the sender.

How can I receive funds at the Sberbank office when transferring a large amount? Do I need to order them?

If you receive a large amount in rubles, as well as in foreign currency, we recommend that you first contact the Sberbank office to clarify the availability of the required amount and the possible timing of receipt.

MoneyGram is an international company that provides services in the field of transferring funds to other countries. MoneyGram money transfers are made without using a bank account. The sender and recipient must present their identification documents at the checkout point, provide basic payment information and exchange a control number.

What is MoneyGram

MoneyGram is an instant money transfer system organized by an American company. Its uniqueness comes from many years of experience, scale of operation, reliability and availability. Moneygram is a large organization created in 1940 in the USA. The company's shares are traded on the New York Stock Exchange. Since 2012, he has his own charitable foundation, the funds of which go to the education of children from poor families.

The company's main partners are large financial organizations that act as agents. By contacting their offices, clients can always send or receive a transfer. The largest number of offices are located in the USA (47 thousand points), followed by China, Italy, Spain, etc. The main representatives of the system are the Bank of China, the financial company Advance America, the Bank of Ireland, the retailer Albertsons, the Royal Mail of England, Spanish banks, Italian Post etc. The company's representative offices are located in the CIS countries, where there are more than 13 thousand service points.

Among Russian organizations, the transfer system is presented in banks and communication shops. Therefore, answering the question of which bank can you receive a Moneygram transfer from, it is worth noting Sberbank PJSC, Uralsib Bank, Raiffeisenbank CJSC, Russian Standard Bank, SvyazBank, etc.

The widespread use of the system allows you to receive a MoneyGram transfer almost anywhere in the world. Today the company covers 200 countries, has 327 thousand locations and is trusted by more than 10 million customers around the world. Therefore, the problem of where to receive Moneygram money transfers does not arise. The number of service offices is constantly increasing. A representative office can be easily identified by the brand sign in stores, travel agencies, exchange offices, and communication shops. This type of transfer is very convenient for the following categories of individuals:

1. Migrants working in another country and transferring the money they earn to their homes.
2. Tourists who find themselves in difficult conditions.
3. Students who periodically receive money, etc.

Main features of the translation system

Using the services of the MoneyGram system has a number of advantages. Let's look at them in more detail:

1. Transfer processing speed. The funds will be available to the recipient at the point of issue 10 minutes after registration, regardless of the countries of departure and destination.
2. There is no link to the address. Money can be received anywhere in the country to which it was sent.
3. The transfer is available for 90 days.
4. The distance between countries does not matter. It is possible to send funds to any country of service. In Russia, such transfers are not carried out, since the company is not registered as a payment system.
5. No bank details are used during the transfer process. There is no need to enter into an agreement with the bank.
6. All transactions are protected by bank secrecy laws. Confidential information is protected from access by third parties.
7. It is possible to send a short text message along with money, the length of which should not exceed 10 words.

Transfers via the MoneyGram system are subject to general rules. They are taken into account by agents when processing or paying money:

1. In Russia there are restrictions on the amount of transfer. One resident can send no more than $5,000 per day. A non-resident has the right to send no more than 10,000 thousand dollars.
2. Transfers from Russia are made only in dollars. Receipt is possible in both dollars and euros. Any Russian bank has currency exchange desks.
3. There is a fee for the service. The size of the commission for transferring Moneygrams depends on the country of receipt and can be included in the total amount or charged on top. The sender pays for the service. There are no additional fees.
4. The service is provided using a general passport, international passport or Form 2-P for the period of replacement of the main document. If a non-resident applies, you must present a foreign passport, as well as a visa or other document confirming the legality of your stay in the country.

The system has certain disadvantages. Let's look at them point by point:

1. Only individuals can transfer and receive funds. Transfers for business purposes are not allowed.
2. The sender must notify the agent about the currency of receipt.
3. When sending to countries that do not use Euros or US dollars, the recipient loses a percentage on the conversion.

Sending and receiving a transfer

To make a transfer or receive a transfer, you need to find a service point - an agent. This could be a bank, a mobile phone store. So, Sberbank sends MoneyGram money transfers through almost any of its branches. And given the number of Sberbank offices in Russia, it will be quite easy to find the nearest point for working with MoneyGram. Additionally, you can find out about places to process a transfer on the company’s website or call the hotline.

When making a transfer, the sender (recipient) fills out a special form established by the company. The following information is required:

• country of departure and receipt;
• amount of money;
• last name and first name on both sides in Latin letters. The form provides the ability to reflect the second name if it is double;
• details of the identity document, address of residence, type of activity;
• purpose of transfer. This is an optional item, but for some countries it is important to indicate the destination when exceeding $1000. Such information will allow you to avoid problems with receiving money in the future;
• security question and answer. Not required in all countries.

The application is filled out according to the client’s document and in his words. It is important to check the correctness of the data and sign the form. A mandatory detail for the recipient is a control number consisting of 8 or 11 digits if the transfer was sent from a post office. It is generated upon confirmation of payment for the service and issued to the sender. The code is indicated at the point of issue along with the amount, currency and country of receipt.

Sometimes it happens that the recipient does not know exactly the sender's last name and first name, the amount, or there are errors in them. The MoneyGram transfer system allows you to correctly process a payment by loading accurate data from the database or indicating the percentage of discrepancy. The agent has the right to refuse to issue money:

1. There were more than 3 errors in the sender's first and last name.
2. The country of registration is incorrectly specified. In this case, the system simply will not find the translation.
3. The total error exceeds 10%.

It is possible to complete the transaction online through the company’s website. To do this, you will need a debit card on which the transfer amount with interest is previously placed. The recipient must also have a card. He will not need to visit the collection point. The money will be transferred to the card. For holders of electronic wallets in the WebMoney system, replenishment is available through Moneygram.

Service fee

The company charges a commission for transferring funds, the amount of which depends on a number of factors:

• transaction processing point, bank or other organization;
• country of receipt of money;
• amount of funds. The higher the amount, the higher the commission fee. On average it varies from 3 to 5%. To CIS countries, the fee will not exceed $20 for a transfer up to $1000. To more distant countries in Europe and Asia, the commission can reach $70.

It is worth using the calculator, which is posted on the MoneyGram website. With its help, you can calculate the tariff size for a specific case. It is important to remember about conversion if dollars are not paid at the point of receipt or funds are issued in national currency. Conversion occurs at the exchange rate established by Moneygram.

Transfer tracking

You can check the status of your MoneyGram transfer on the company’s website. When checking out online, just log into your account and view your transaction history. The status will be reflected in the payment record.

By transfer number or authorization number, the payment can be tracked in the option Track a Transfer(track the transfer). The number is placed on the payment receipt or other document confirming the fact of depositing funds into the cash register. When processing a transfer at the post office, you will need an 11-digit number. It is placed on the left side of the document you fill out for the recipient. Usually the numbers are highlighted in red. Enter your first and last name and click "Track the transfer."

To find a lost transfer, you should use the Claim Card form. It is posted on the Moneygram website:

1. You need to download the form, fill it out and print it. It is important to indicate the number according to the receipt. The order number and dollar amount are also filled in.
2. Attach a copy of the receipt or other document confirming the transfer.
3. You will have to pay $15 for paperwork and search.
4. If a payment is made, you will receive a copy of the transaction receipt. If there is no cash out, the money will be returned to you in the form of a check.

In case of loss of the outgoing transaction number on the website, fill out a form to find it - Number Search. The company stores all data for 10 years. If you do not receive the required data as a result of your search, you should call the customer support line. In Russia the telephone number is 8 800 500 92 53.

You can also contact the agent’s office where the transfer was completed. The agent's representative will contact the support service. This service is usually available at bank branches and other financial institutions. If confirmation is required for the search, the operator will ask you to send documents electronically. On the site you can use a special link to transfer protected information.

Return of transfer

A refund of a money transfer can be issued at any time. To do this, you need to contact the agent’s office where the operation took place. If the return occurs on the day of registration, it is enough to present your passport and transfer number.

If you apply on another day, a new transfer number is generated for cancellation. It is issued at the support line. The call can be made by the sender himself or by a representative of the agent. With such a payment, the application indicates the MoneyGram company itself as the sender, and the country of registration is the United States. When the transfer was to be paid in euros, the country of registration is Albania. If 45 days have passed after registration, the commission is not refunded. A refund will only be issued if the payment to the recipient has not been made.

Control of translations

MoneyGram has a Compliance program, the work of which is aimed at preventing and suppressing illegal financial transactions, fraud, terrorist financing, and compliance with sanctions. All transactions passing through the system are subject to mandatory control. Particular attention is paid to large amounts, suspicious transactions, and countries that have increased attention. This is handled by the relevant department.

If there is any suspicion, the transfer is blocked. Unblocking is possible after calling the support line. Depending on the specific case, an explanation of the transaction from the sender or recipient is required. If unblocking is unacceptable, the operator notifies about this over the phone and advises the sender to contact an agent for a return.

In Russia there is a restriction on sending MoneyGram to the territory of Ukraine. Federal Law No. 59-FZ was signed on April 3, 2017. Transfers stopped being processed as of May 5, 2017. Payments can be received.

There is no need to introduce the Moneygram money transfer system separately; it is already known all over the world. It has existed since the Second World War, so Western countries have long been accustomed to it. In Russia and the CIS countries, the Moneygram system has also gained great popularity due to its accessibility and high quality of service. Let's talk about the Moneygram system in more detail.

System popularity

Moneygram is present in 200 countries around the world, and in Russia and the CIS countries there are about 14 thousand service points. If you need to urgently transfer money, you can go to the nearest branch of Sberbank of Russia, a branch of the Russian Post, an office of Russian Standard Bank, Raiffeisenbank, etc. There is a Moneygram service point almost everywhere.

The level of popularity of Moneygram is amazing. Every day, on average, about 10 million people around the world use the system’s services. People transfer money within regions, their countries, or transfer funds abroad. In total, hundreds of millions of dollars are spent every day through Moneygram. Who most often uses this translation system?

1. Labor migrants. Only labor migrants from Tajikistan daily send home through Moneygram more than 13 million dollars that they earned in Russia. But in our country citizens of all union republics work.
2. Vacationers. Tourists do not always use bank cards. Sometimes relatives or friends send them cash through Moneygram because it is fast and convenient.
3. Students. Foreign citizens who come to Russia to study often receive money through the Moneygram system.

Why do people choose Moneygram? Firstly, funds are transferred very quickly – within 10 minutes. Secondly, the recipient can pick up the money at any service point, the main thing is that he is located in the country to which the sender sent the funds. Thirdly, even if the recipient was unable to immediately pick up the transfer, he can do so within three months. Fourthly, the transfer is very simple, there is no need to go through the hassle of filling out a bunch of bank details. Fifthly, the Moneygram transfer is very reliable and can be tracked, so the likelihood of losing money is reduced to zero.

Is translation expensive?

We have already realized that transfers through the Moneygram system are carried out quickly, but the benefit of a financial transaction is determined not only by its speed, but also by its high cost. What commission does the system charge for sending money? You need to understand that you can only send funds in US dollars or euros. This is the first costly inconvenience, because if we have an amount in rubles, we first need to exchange rubles for dollars or euros. This cannot always be done at a favorable rate. Before we even send the money, we are already losing on exchange rate differences. Tariffs will depend on:

• status of the service point (those located in banks have slightly higher transfer rates);
• the country to which the money will be sent;
• the amount of money sent.

In the vast majority of cases, the transfer fee does not exceed 2-5%. It’s true that you won’t be able to send money to some countries via Moneygram.

In 2017, a ban was introduced on making transfers through Moneygram from Russia to Ukraine.

How to make a transfer and how to track it?

If you want to try the quality of Moneygram services yourself, you should first find a service office. You can, of course, run around the offices of the nearest banks and ask there, but it is better to visit the Moneygram portal on the Internet and in a special section find the service point closest to you. Bring your passport and the required amount of cash (including fees). Find out how to correctly write the recipient's full name in Latin. When you come to the service office and tell the employee the purpose of your visit, you will receive a special form that must be filled out carefully and without errors.

The amount of the transfer, the full name of the recipient and the sender, the purpose of the transfer, the country of receipt and departure, and passport details are indicated. In some cases, you also need to specify a security question and the answer to it. You need to come up with the first thing that comes to mind. Next, hand over the completed document to the employee, give him the money and you can call the recipient of the money directly from the office. The recipient can immediately go to the nearest Moneygram office and pick up the money, which by that time will already be there. You can withdraw money by presenting your passport and answering a security question.

In very rare cases, a translation may get lost along the way. This is mainly due to incorrect filling out of the form, but sometimes there is an error by a Moneygram employee. If the transfer has not arrived within 1 day, you can go to the Moneygram website, open the “Track a Transfer” section, enter the receipt number and your last name in the special field and click the “Track” button. After a short time, the system will find the shipment and indicate the reason for the delay.

You can check the status of the transfer via Claim Card. This service specifically exists so that the user can find the lost translation himself. You can use the service through the Moneygram service office. This service will cost $15.