What is MoneyGram? What are the advantages of MoneyGram?

MoneyGram is a global fast remittance service between individuals. It can complete the remittance process from the remitter to the beneficiary in more than ten minutes. It is fast and convenient. MoneyGram is a remittance agency similar to Western Union. MoneyGram's domestic partners are: Bank of China, Industrial and Commercial Bank of China, Bank of Communications, and CITIC Bank. my country is a country with foreign exchange controls. Foreign companies need to have a reason to remit money to domestic companies, and they cannot remit money casually. Moreover, MoneyGram should only be for individuals. The remittance business handled through the MoneyGram system is currently limited to the "MoneyGram" remittance business in US dollars.

MoneyGram Advantages

1. Fast remittance.

If MoneyGram agent outlets (including remittance outlets and payment outlets) are able to handle business normally, MoneyGram remittances can reach the recipient's account within ten minutes after remittance.

2. The charges are reasonable.

(1) MoneyGram charges an excess fee. Within a certain remittance amount, the remittance fee is relatively low.

(2) There are no other additional fees and unknown costs: that is, no intermediary bank fees and no telegraph fees.

(3) You can check the handling fee online in advance: Users can go to the Moneygram website, click "How to send money" on the left, then click "How much" on the right, enter the remittance amount, and you will know how much handling fee you will have to pay.

3. Simple procedures: The remitter does not need to choose a complicated remittance route, and the payee does not need to open a bank account in advance to realize the fund transfer.

If you withdraw RMB by remittance of USD, this business is a foreign exchange settlement business. Regardless of whether you are a domestic individual or a foreign individual, each person can settle foreign exchange equivalent to USD 50,000 (inclusive) per year with his/her valid ID card. That is, there is no limit on the amount of a single foreign exchange settlement, as long as it does not exceed USD 50,000 per year.

So when your customer tells you that he has sent you a sum of money, you only need to ask your customer for

(1) Reference number (remittance password) 8 digits

(2) Sender's first name

(3) sender's surname

Then go to the local branch of the local cooperative bank where there is a special MONEY GRAM counter. They will give you a receipt form, fill in the relevant information of the customer and yourself, and bring your own ID card to withdraw the money.

4. MoneyGram International Limited (MIL) is responsible for global affairs outside the Americas. Its headquarters is in London, UK, and it has more than 20 regional offices in major cities around the world.

The above is an analysis of what MoneyGram is and what advantages MoneyGram has. If you want to know more about MoneyGram, please continue to follow us!