How does Moneygram work? Easily explained

Moneygramm works similarly to other providers that enable money transfers worldwide. We'll introduce Moneygram to you in more detail in this article.

With Moneygram you can send money very quickly.

There are more than 350, 000 locations available to you, spread over 200 countries. You can send money in one of these branches or conveniently online via the company's website.
You can either send the money to a bank account or to the recipient's cell phone, if the recipient has an account for a mobile wallet. In this case, the money is immediately credited to the recipient's mobile wallet. The recipient can also have the money withdrawn at one of the branches.
Sending and receiving money at Moneygram is not only easy and fast - the money usually arrives within 10 minutes - it is also quite safe. You must identify yourself as the sender. The recipient must identify himself if he wants to pick up the money in a branch and also needs the reference number that he receives from the sender.
The provider's customer service is also commendable. You will receive all information about a transfer online or by phone.
The disadvantage: the fees are quite high. A money transfer is hardly worthwhile within the EU. For example, if you want to transfer 200 euros from Germany to France, the recipient will receive 187 euros, with 13 euros fees.
If you send 200 euros to Peru, they will also arrive there in full. As the sender, you will be charged 8 euros in fees.

In the next practical tip, you will find out whether you can transfer your money anonymously, i.e. send it in secret.