Alternative Financial Services for Financial Institutions
MoneyGram has been providing non-traditional financial solutions for more than 70 years and directly serving financial institutions for more than 40 years. Now widely referred to as Alternative Financial Services (AFS), our solutions are finding a place alongside more traditional forms of banking. The affordability and speed of these services combined with the recent global economic decline, have contributed to the growth of AFS. In fact, global remittances alone are forecasted to grow to $615 billion by 2014.*
*September 2011, FDIC National Survey of Unbanked and Underbanked Households
International and Domestic Person-to-Person Money Transfer
Attract new customers and strengthen your existing deposit relationships by providing in-person remittance services at your branch locations:
Customers can send and receive money in as little as 10 minutes* to more than 284,000 locations in 196 countries and territories
Service does not compete with traditional wire transfer programs
Single point of service platform – receive this service plus MoneyGram's bill payment and prepaid platform in one footprint
Supplement your existing bill payment services by providing customers with the ability to make same-day payments to thousands of top U.S. billing companies like Capital One, DirecTV, DISH Network, Ford, Geico. Honda, Nissan, Santander, Vanderbilt, and many more:
Nearly 7,500 billers currently available for payment
10-Minute Same Day Transfer Service Option: Using your credit or debit card, funds will typically arrive 10 minutes after the transfer is sent. Transfers can be received at any MoneyGram location. Subject to agent availability, hours of operation, and local regulations.
3-Business Day Economy Service Option: Using your U.S. Bank Account, funds will typically arrive 3 business days after the transfer is sent. Transfers can be received at any MoneyGram location. Subject to agent availability, hours of operation, and local regulations.
Transfer fees vary based on the service option and transfer amount. Prices are subject to change.
In addition to applicable Fees, MoneyGram also makes money when it changes your dollar to foreign currency. Currency is converted at an exchange rate set by MoneyGram or its Agents. Please see the terms and conditions or call MoneyGram at 1-800-MONEYGRAM for more information regarding currency exchange.
Payout in a currency other than EUR is available only at select agent locations and subject to availability of the currency at the time the transfer is picked up. Other Fees and Other Taxes may also be applicable.