MoneyGram is a system of urgent money transfers around the world without a bank account. The company operates through networks of major financial institutions such as the Royal Mail of Great Britain, Italy, Bank of Ireland, Kocbank, Banco Popular Espanol, Finansbank, etc. MoneyGram transfers money through all CIS countries - through 13,500 service points.
Essence
Today, there are many ways to send money to another country or city. These operations are especially convenient for individuals, as they are carried out without opening an account. There are several payment systems on the market. One of them is MoneyGram. The company's customers are served through 327,000 points in 200 countries. So there are no problems with finding branches.
How to send funds?
Where can I use MoneyGram services (money transfers)? Addresses of service points in Russia can be found at the addresses of banks. Money transfers through the MoneyGram system are carried out by large and regional financial institutions, such as: Sberbank of Russia, Raiffeisenbank CJSC, Dalnevostochnoe O.V. Bank, Stela Bank OJSC, Investtorgbank JSCB, Uralsib Bank ", Moskomprivatbank, Russian Standard Bank, SvyazBank and others. The client needs to provide a passport or other identification document. The agent will issue an application form. It must be filled in: indicate the full name of the recipient and sender, amount payment, country of destination.Further it is necessary to deposit money, pay a commission, receive s application number and report it to the recipient.
How to receive the money?
- Ask the sender for the transfer control number.
- Contact a service center.
- Provide the operator with a passport and a transfer number.
- Fill in the form.
- Get the money.
MoneyGram: money transfers. Tariffs
The transaction fee depends on the currency and country of destination. But on average it ranges from 3-5% of the amount. The table below provides a concise list of tariffs.
Amount, $ | Commission to the CIS countries, $ | Commission to non-CIS countries, $ |
1-100 | 2 | 12 |
100.01-200 | 3 | 20 |
200.01-300 | 5 | 24 |
300.01-400 | 6 | 32 |
400.01-500 | 8 | 40 |
500.01-600 | 10 | fifty |
600.01-700 | 12 | 60 |
The maximum amount of one transfer is limited to 10 thousand US dollars and 7.5 thousand euros. In one operational day, you can send no more than two transfers.
System benefits
- Small commission: 3-5% of the transaction amount.
- MoneyGram money transfer system has a large number of service points operating on different schedules.
- The transfer is made in dollars or euros. But when you receive funds, you can convert the currency to the desired one at the rate of the agent bank. Payment is made in cash.
- The average transfer speed is 10 minutes. But due to the difference in time zones, it can increase by several hours.
- Active Internet users through MoneyGram can replenish WebMoney electronic wallet. Funds are credited to the account during the day. Residents of some regions even have the opportunity to send money via the Internet from a card account.
- Established system limits often exceed state restrictions on money transfers.
- Lack of address binding. Transfer can be obtained through any service point.
- The opportunity, together with the means, to send a free telegram of 10 words.
- MoneyGram money transfers are available for receipt within 90 days.
- The fee is paid by the sender.
- A secure transaction system through which MoneyGram money transfer is made.
Where to get unclaimed funds?
If the client has canceled the operation, you can cancel the transfer. To do this, within 45 days you must contact the office and write a statement. Based on this document, a new payment number will be issued, according to which it will be possible to receive funds.
System flaws
- The sender must indicate the currency of the issuance of MoneyGram funds during the formation of the application.
- Only individuals can receive or send money transfers.
- To receive the transfer in a currency other than the dollar and the euro, you will have to pay for the conversion.
Western Union
Another leader in the urgent translation market began its work in 1851. Clients of the payment system are served in more than 300 thousand points around the world. Like MoneyGram, Western Union money transfers are available 10 minutes after departure. This system has its own nuances:
- You can send funds in national currency.
- Euro transfers are available only in EU countries.
- There is no targeted delivery, that is, you can receive funds at any point of delivery.
- The transfer fee is fixed in rubles and averages 5-10% of the amount.
The application process for receiving and issuing funds is the same as in the case of MoneyGram. Sberbank or any other agent of the system accepts and transfers money transfers only when the client personally addresses the branch and if there is a passport. For each transfer, an application is drawn up, in which the full name is indicated. Recipient, country and city of delivery, amount and currency of the transaction.
CONTACT
Another large system dealing with international transfers has existed on the Russian market since 1999. Customers are served through 400 thousand points in 170 countries. MoneyGram money transfers are available only to individuals. That is, neither a sender nor a payee can be a legal entity. The CONTACT system transfers to the accounts of commercial banks, enterprises, insurance companies, providers, mobile operators, etc. The maximum amount is limited:
- inside Russia - 500 thousand rubles. / 10 thousand US dollars / euro.
- to neighboring countries: 350 thousand rubles. / 10 thousand US dollars / euro.
- to foreign countries: depends on the legislation of the recipient country.
To send a transfer, you need:
- present a passport or document certifying the right to stay in the Russian Federation;
- inform the amount of the transfer, full name the recipient and the address of the point of issue;
- sign the application form;
- deposit the amount including commission;
- save translation code.
To receive a transfer, you must:
- present a passport or other document with a photo and initials;
- provide the transfer code.
Funds are available for withdrawal 15 minutes after application. You can get money at any partner bank. 30 days after registration of the application, an unclaimed transfer is returned to the sender's account. The transfer fee is from 1.5% for payments in rubles and from 3% for transactions in foreign currency.
Unistream
This money transfer system operates in 95 countries and carries out transactions without opening an account. An additional advantage for system users in the Russian Federation is the ability to replenish Yandex.Money and Webmoney electronic wallets. Tariffs depend on the country of the recipient. Within the Russian Federation and abroad payment reaches 10 minutes. Funds are available for withdrawal within one month. Then they are returned to the sender's account. You can get money at the same bank or any other credit organization that cooperates with the payment system.
"Gold Crown"
Another system of international transfers, which is more focused on the CIS countries. Funds are transferred without opening an account for 0.5-1.5% of the transfer amount and are available for withdrawal instantly.
Limits are set depending on the legislation of the country. The maximum transfer amount in Russia is 600 thousand rubles, 20 thousand dollars, 15 thousand euros. There is also a daily restriction: within 24 hours, a resident can send no more than 5 thousand dollars to another country. The principle of operation is standard. To complete the application, you must specify the full name recipient, city, country and amount. It remains to pay the transfer and the transaction code to inform the recipient.
"Blitz"
Sberbank has developed its own transfer system, with which you can make payments across the territory of the Russian Federation, as well as to CIS countries. "Blitz" works without opening an account and is available only to individuals. The fee for transferring funds within the country is 1.5%. This is more than that of international payment systems. The limit on the application is 0.5 million rubles. For an additional 10 rubles. You can order the service of informing the recipient about the execution of the transfer.
Where is cheaper?
Tariffs for transferring funds to European countries, the USA and Canada are higher compared to domestic operations. On average, the commission of international systems ranges from 3-11%. WesternUnion, MoneyGram are market leaders not only in cost of services, but also in the number of service points.
There is a general rule that applies to all transactions: the higher the amount, the lower the commission. This is especially true for local banking systems.
Do not forget about the limitations. The limits set by payment systems often exceed domestic ones. For example, in Ukraine you can send only 50 thousand UAH without problems. To send large amounts, you need to open a bank account and indicate the source of funds. For non-residents, more stringent restrictions apply to any transaction.
Most systems charge only from the sender. But there are those that charge a commission from all participants in the transaction. MoneyGram money transfers are addressless. This only increases the attractiveness of the system. The recipient will be able to receive money through any agent.