Any experience with Moneygram?
Thread poster: Marina Soldati

Marina Soldati  Identity Verified
Argentina
Local time: 16:07
Member (2005)
English to Spanish
+ ...
Feb 24, 2009

Hi all!

A client offered to send money via Moneygram.
Do any of you have any experience using their service? Is it reliable?

Thanks a lot
Marina

[Edited at 2009-02-24 11:37 GMT]


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Luís E. dos Santos
Brazil
Local time: 16:07
English to Portuguese
+ ...
Yes Feb 24, 2009

I've been receiving money from an Argentine translation agency through Money Gram for over five years and have never had any problem.

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Stephen Gobin
United Kingdom
Local time: 20:07
German to English
+ ...
Moneygram Feb 24, 2009

Hello Marina

When I was studying for my MA in translation, I also worked part-time for a foreign exchange company, which offered a Moneygram service to customers.

The service itself is reliable, but the transfer fees that the sender has to pay are expensive. The reason for the high fees is because you are paying for an instant transfer of money: the money is available for the recipient to pick up the very moment the transfer has been processed/sent by the transfer clerk. The fees are on a sliding scale too, so if larger amounts are sent, the fees increase accordingly. The starting rate for fees is rather high as well, so the transfer fees for modest amounts can be equally prohibitive. From my experience, the service is mainly used to get money to people in a hurry while overseas in cases where the recipient has run out of ready cash or may have been mugged or lost their purses/wallets/bank or credit cards. Some people use Moneygram to buy goods or services or to send money back home to their families in another country.

If you decide to use this service, you will need to know whether your client will be paying the transfer fees or whether he/she will deduct them from your invoice amount, in which case it could be a sizeable chunk. You will then need to find a Moneygram agent in your local area and the transfer will be paid out to you in the local currency (as far as I can remember, the exchange rates used are reasonable in cases where a transfer is sent in one currency but paid out in another). Before you go to the Moneygram agent, you will need to get the transfer reference number from the sender and also know exactly who sent the money. You'll need to provide all this information to the Moneygram agent together with your ID. It's possible that there may be a limit on how much money an agent can send or pay out, but I'm not 100% sure on this.


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italia  Identity Verified
Germany
Local time: 21:07
Italian to German
+ ...
Positive Feb 24, 2009

Hi! I have a customer from the UK and since I am reluctant in opening any account with Moneybooker and Paypal, he switched to Moneygram.
I did not encounter any problems in getting my money (cash).
Good luck!


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Marina Soldati  Identity Verified
Argentina
Local time: 16:07
Member (2005)
English to Spanish
+ ...
TOPIC STARTER
Thanks! Feb 24, 2009

Thanks Luís and italia for the information.

Regards,
Marina


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Maria Baquero  Identity Verified
United States
Local time: 15:07
English to Spanish
+ ...
Europe and USA Feb 24, 2009

Does it work for payments between Europe and USA too? Moneybookers is not longer offering those services and payments from Europe to USA have become difficult

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Angie Garbarino  Identity Verified
Spain
Local time: 21:07
Member (2003)
French to Italian
+ ...
Yes it works Europe USA Feb 24, 2009

It works, I used it for a payment from Italy to USA.

All the best


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Maria Baquero  Identity Verified
United States
Local time: 15:07
English to Spanish
+ ...
Good! Feb 24, 2009

That's good news... thanks

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Marina Soldati  Identity Verified
Argentina
Local time: 16:07
Member (2005)
English to Spanish
+ ...
TOPIC STARTER
Thanks Stephen! Feb 25, 2009

Very useful information, thank you.

I´ve already inquired about the procedure here in Tandil, and I was told about the amount limit to pick up and the fees.

As I´ve never used this service before, my main concern was whether it was reliable.

Thanks again for your post.

Marina


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