Everything You Need To Know About Money Transfer Services - Checkexpress

Everything You Need To Know About Money Transfer Services


Are you searching for a secure, reliable way to quickly send money on a regular basis to a relative living in another country? Do you have a family traveling abroad who is in immediate need of extra cash? Do you need to make a fast international business transaction?

When you want to transfer money anywhere in the world, and either you or the recipient don’t have access to a bank account, money transfer services are a convenient and safe solution. Two money transfers services that can help you send or receive funds anywhere in the world are MoneyGram and Western Union. To help you better understand their money transfer services work, here are answers to a few of the most commonly asked questions about Western Union and MoneyGram.

How Much Will It Cost Me To Send Money Using Moneygram or WesternUnion?

Both services charge fees based on the amount of money to be transferred; whether the money is to be received in person or transferred to an account; and the country where the money will be received. In addition to fees charged by money transfer services, exchange rates affect the amount of cash sent to the recipient.

Western Union: Use their online fee estimator https://www.westernunion.com/us/en/price-estimator/continue.html  or visit your local Checkexpress to determine the exact cost of your transfer.

Moneygram: Use their online fee estimator https://secure.moneygram.com/mgo/us/en/estimate/receiverInfo or visit your local Checkexpress to determine the exact cost of your transfer.

How Do I Send Money?

Western Union: Depending on your location and where you want to send money, Western Union offers you three options to send money.

  • Money in Minutes service                                                                                                                      
  1. Search for an agent location near you. (Checkexpress)
  2. Complete the Send Money form
  3. Give the agent the completed form with the applicable funds (including transaction fee) in cash
  4. Save your receipt and tracking number (MTCN). Your receiver will need the tracking number (MTCN) for pickup and you’ll need it to track your transfer.
  • Send money to a bank account                                                                                                             
  1. Getting money directly to your receiver is easier than ever when you transfer money to a bank account.1 Availability at all Western Union agent locations makes the process quick and convenient.2
  2. Search for an agent location near you. (Checkexpress)
  3. Complete the Send Money form, including your receiver’s bank and account information. Check what specific information is needed.
  4. Give the agent the completed form with the applicable funds (including transaction fee) in cash.
  5. Save your receipt with the tracking number (MTCN).
  6. The money will be deposited into your receiver’s qualifying bank account within 3 bank business days in the destination country. In some cases it could be deposited the next day. The 3-day count begins the day after you send your transaction. Check out destination-specific timing.
  • To a mobile phone                                                                                                                               

If your receiver lives in a country where we offer this service, you can send money to their mobile phone—so they can get their money even more quickly and easily.Make sure your receiver has activated a mobile wallet with one of our partner mobile providers in their country.

  1. Check available destination countries and mobile providers.
  2. Search for a participating agent location near you.  (Checkexpress)
  3. Fill out the Send Money form including your receiver’s mobile phone number.
  4. Give the agent your completed form with the applicable funds (including transaction fee) in cash.
  5. Save your receipt with the tracking number (MTCN).

Moneygram: MoneyGram has also offers three convenient ways to send funds quickly and easily: online or in person; for cash pick-up or direct to a bank account. They also offer money transfers to inmates at correctional institutions and mobile wallets.

  • From an agent location
  1. Find a convenient MoneyGram location  (Checkexpress) near you
  2. Bring the following information
    1. Your full name and I.D.
    2. Your recipient’s name matching their I.D.
    3. Recipient’s location
    4. The amount you wish to send, plus fees.
  3. Hand the agent the amount you are sending, plus the fee, in cash. Your money is on its way!  Be sure to give your 8-digit reference number to your receiver for easy pick up. In most cases, cash is the only form of payment accepted for transactions completed at an agent location.
  • Online transfers

Start the process by filling out a MoneyGram profile https://secure.moneygram.com/mgo/us/en/account/mandatory-signUp on their website. You can pay for online transfers using a U.S. checking account (U.S to other countries only), or credit/debit card (Visa or MasterCard). Card issuer cash advance fee and associated interest charges may apply when you use a credit card.

How Do I Receive Money?

Western Union: The recipient can pick up cash at a nearby agent location with a government-issued ID and the sender’s tracking number (MTCN). In some countries,  the sender can transfer money to a bank account, and no action is required to accept the money. In countries where money can be transferred to a mobile wallet, the recipient may be required to tap on an “accept” prompt to receive the money transfer.

Moneygram:  Cash can be picked up at any MoneyGram agent location. The money is typically ready for pickup in as little as 10 minutes after the transfer is submitted subject to operating hours, availability, local laws/regulations and compliance requirements. Available in all countries.

Timing of funds availability in a receiver’s bank account varies depending on country and is subject to banking hours and systems availability, good funds availability, approval by MoneyGram’s verification systems and local laws and regulations; banking business typically exclude weekends/holidays.

Checkexpress offers both Western Union and MoneyGram services to transfer money anywhere in the world, usually within 10 minutes. Learn more about our money transfer services here!

  • Note: Information about the services of Western Union and MoneyGram was accessed directly from their websites.