International money transfers is MoneyGram's primary business. The company's money transfer service allows consumers to send and receive money worldwide, through a global network of third-party agents that use our money transfer system. In many locations, consumers can collect funds in local currency, U.S. dollar or euro. In some markets, customers also have the option to send and receive money through alternative channels such as online, mobile, ATMs, kiosks, call center and home delivery, from and into cash, bank accounts, payment cards and mobile wallets.
Customers can walk into one of our 300,000 agent locations around the world to send or receive cash. Customers send cash at an agent location and within 10 minutes it is available for pick up by the recipient at a MoneyGram agent anywhere in the world. In some locations an "Overnight" service gives senders the option to delay receive of their transaction for a lower fee.
Cash to Bank Account
MoneyGram offers customers the opportunity, where available, to send funds to their chosen recipient's bank account. With this service receivers can receive money from their loved ones without having to physically go to an agent location. In some countries we offer the option for receivers to redirect their cash pick up into a bank account.
Cash to Card
Customers can send funds directly to a recipient's card in some markets. In some countries we also offer receivers the option to redirect a cash pick up transaction onto a card via a call centre. Cards can provide a safer alternative to carrying cash and as well as being able to withdraw cash at ATMs, cards can be used directly as a payment instrument.
In the U.S., MoneyGram directly offers online transfer services, an easy and convenient way to send funds using a credit card, debit card or bank account to fund the transaction. Online sends are also available for customers of some select agents around the world.
Money transfers can also be made from mobile phones in some markets. In Italy, we have partnered with Poste Italiane and in UAE with the National Bank of Abu Dhabi for mobile sends that can reach any of our global agent locations. Forty million SMART phone users in the Philippines are also able to receive funds from a growing list of countries and territories, including the U.S. and Hong Kong. We are currently working with mobile phone operators in regions around the world to offer more services via mobile.
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In certain markets where customers require out of hours service, money transfers via ATMs are an excellent way to meet customer and partner needs. In Saudi Arabia, we partner with National Commercial Bank, where customers can send funds 24 hours a day at any of their 1,400 ATMs.
In retail locations, customers can shorten transaction time by using a kiosk to make a money transfer. For example, 7-Eleven Australia operates dedicated MoneyGram kiosks in their locations, allowing customers to set up their money transfers at a kiosk before paying for their transaction at the cashier.
Customers can choose to have their money transfer delivered directly to their home address. Home delivery is available to customers of selected agents around the world.