FAQ

General

  1. Why choose MoneyGram Money Transfer?
  2. Is my money safe?
  3. How do I register?
  4. How long does it take to transfer money internationally?
  5. Can I decide on a rate before I transfer money?
  6. How do I pay MoneyGram Money Transfer?
  7. When do I need to pay MoneyGram Money Transfer?
  8. What is a forward contract?
  9. What is a limit order?
  10. Who can use MoneyGram Money Transfer?
  11. Does MoneyGram Money Transfer provide offline services?
  12. Are ‘a telegraphic transfer’, a ‘wire’ and a ‘TT’ the same thing?
  13. Swift codes, Sort codes and ABA & IBAN numbers: What are they? 

Bundles

  1. What currencies can I buy a Bundle in?
  2. When can I buy a Bundle?
  3. How do I pay for a Bundle?
  4. Can I use a Bundle for any deal in any currency?
  5. Do I have to use my Bundle if I am making a transfer?
  6. Are they refundable?
  7. Are they transferable?
  8. Do they expire?
  9. Where can I see how many I have left?
  10. How much will I save?
  11. What happens if all my future deals are fee free anyway (over $10k)?
  12. I thought there was always a fee so I purchased a Bundle however all my deals are over AUD 10,000… Can I get my money back?

Regular Payments

 

General

 1. Why choose MoneyGram Money Transfer?

When making international money transfers, you want to be certain that your money is in safe hands. MoneyGram Money Transfer is trusted as a leading global payment services company.

We offer a diverse range of services to help our clients send and receive money. Operating in more than 197 countries, we make it that much easier to move your money safely and quickly to almost any country in the world. 

Our services include:

2. Is my money safe? 

Yes. Our online platform is provided by OFX, which is part of the OzForex Group – a worldwide leader in foreign exchange.

We guarantee:

  • A high level of online security, including:
    • Minimum 2048 bit SSL certificates to encrypt traffic
    • Thawte online security and protection
    • A deliverable-only foreign exchange service
    • Outstanding customer service online and by phone.

 3. How do I register?

Registering with MoneyGram Money Transfer is a simple and quick process. You can register online, at no cost, at anytime!

Simply follow our Easy Steps to register.  

 

4. How long does it take to transfer money internationally?

We work to ensure that your money is transferred as quickly as possible. In most cases, your money will be transferred on the same day that your money is cleared. Depending on the countries and currencies involved it can occasionally take up to 1-2 days. If you have an urgent transfer, please contact us to find out how we can help you. 

5. Can I decide on a rate before I transfer money?

Yes you can.

In order to lock in an exchange rate:

  • Choose your rate and lock it in
  • Provide us with your receiver’s details
  • Send through your money

Once MoneyGram has received your money, we will send through the currency you have purchased. 

6. How do I pay MoneyGram Money Transfer?

The most often used payment method is via Electronic Funds Transfer (EFT). Most banks have EFT options and MoneyGram have accounts in all major currencies. We also offer B-Pay as an alternative payment option.

 

7. When do I need to pay MoneyGram Money Transfer?

Please be advised that MoneyGram Money Transfer clients are required to send money within 24 hours of booking a transfer.

For all questions regarding payments simply contact us, our friendly customer service operators are available 24 hours a day Monday – Friday to assist you.

8. What is a forward contract?

When one currency is exchanged for another at a future date, it is called a forward foreign exchange rate. 

A forward foreign exchange contract will allow you to:

  • Lock in an exchange rate for a transfer that will occur at a predetermined future date (delivery date)
  • Protect you from exchange rate movements 

9. What is a limit order?

Exchange rate fluctuations occur all the time and no matter how many lattes you drink, you can’t stay up all night watching the market! By placing a limit order with MoneyGram you can advise us to act for you if your desired rate is triggered – no matter what time it is.

  • Limit orders are valid for any period between now and 6 months
  • You can place a limit order for amounts in excess of $30,000

10. Who can use MoneyGram Money Transfer?

MoneyGram Money Transfer provides international payments to clients living in Australia and transferring money to a recipient in a foreign country. The recipient of the transfer must have a functioning bank account.

11. Does MoneyGram Money Transfer provide offline services?

We offer 24 hour customer service over the phone Monday to Friday. Our highly trained and helpful dealers can talk you through the process. You will still benefit from the same excellent rates that we offer through our online process. Want to send cash? Find one our Australian MoneyGram agents so you can do your cash transfer in-person.

12. Are ‘a telegraphic transfer’, a ‘wire’ and a ‘TT’ the same thing?

Yes - a ‘telegraphic transfer’, a ‘wire’ and a ‘TT’ are all names for an electronic payment made between banks.

13. Swift codes, Sort codes and ABA & IBAN numbers: What are they? 

These are all part of the SWIFT system - a secure messaging system that makes sure information is transferred and communicated safely between banks.

Register now for a safe and easy way to make your international money transfers.

Find out more about our low rates and MoneyGram bundles!

Contact us - our customer service team are available 24 hours a day Monday – Friday.

 

Bundles

1. What currencies can I buy a Bundle in?

You can buy a Bundle in Australian dollars

2. When can I buy a Bundle?

If you are being charged a fee, you will be offered a Bundle to help you save money on future transfers. This occurs at the final stage of your transfer (a pop up will appear when you click finalise). 

3. How do I pay for a Bundle?

You can choose from our normal methods of payment; BPAY, Electronic Funds Transfer (EFT). The bundle fee will simply be added to the total cost of your transfer.

4. Can I use a Bundle for any deal in any currency?

Yes. Though deals over $10,000 are fee free, so you won’t need to use your Bundle for these.

5. Do I have to use my Bundle if I am making a transfer?

If your transfer is for less than $10,000 and you have a Bundle, you will need to use one.

6. Are they refundable?

Bundles are not refundable.  For further details please see our T&Cs 

7. Are they transferable?

No.  Bundles are not transferable.

8. Do they expire?

No.  Your Bundles never expire.

9. Where can I see how many I have left?

To see where you have used your Bundles and how many you have left.  Login and go to Your Transfers and click on MoneyGram Bundles.  We will also remind you on your Dashboard page as soon as you login.

10. How much will I save?

Depending on the Bundle you buy, you can save as much as $90 over 15 transfers.  For more details click here.

11. What happens if all my future deals are fee free anyway (over $10k)?

Then you won’t need to buy our money saving Bundles!

12. I thought there was always a fee so I purchased a Bundle however all my deals are over AUD 10,000… Can I get my money back?

Unfortunately we don’t refund Bundles.  Please check carefully to ensure they are right for you before purchasing. 

 

Regular Payments

1. Which currencies do you offer for regular payment plans?

We will accept all major currencies. For the other currencies please speak to one of our accredited dealers. We currently accept direct debit instructions for AUD, GBP, CAD and USD (for USD accounts based in Canada only). For beneficiary payments, we will pay funds in most currencies - however this is subject to any third party fees* that may be applied to these receipts. The Client is liable to pay these fees and must be considered when entering into a regular payment agreement.

2. Do I need to pay a deposit?

No deposit is necessary for non-fixed payment plans. For fixed payment plans, a deposit is necessary to cover any market risk exposure we may face. The deposit is the equivalent of one instalment. You will need to transfer it together with your first instalment. Please note that the deposit is not a fee and we will use it to pay off the last instalment of your regular payment plan.

3. How much does it cost to set up a regular payment with MoneyGram Money Transfer?

There are no transaction costs or fees involved. You simply pay your regular instalments and the deposit as agreed in the payment plan and we will convert and transfer at the agreed rate.

4. How much is the deposit?

The deposit is in the amount of one instalment. You need to transfer it together with your first instalment. Please note that the deposit is not a fee and we will use it to pay off the last instalment of your regular payment plan.

5. How do I set up a regular payment plan with MoneyGram Money Transfer?

1. Call us today and one of our dealers will offer you a quote and a payment plan according to your individual needs
2. Once you accept the quote, you pay the first instalment and a deposit in the amount of one instalment
3. We will then transfer the agreed amount to your beneficiary account
4. You can set up Direct Debit or make regular electronic funds transfers to us in order to ensure regular payments
5. As soon as we have received your payments, we will in turn pay out to your beneficiary account as agreed in the payment plan

6. Can I cancel a regular payment plan anytime? What are the conditions?

If a contract is cancelled or terminated, the Company will sell the balance of the purchased currency (if any) and buy back the balance of the original currency. The deposit will be returned minus any losses that may have resulted as a result of variations on the exchange rate.

7. How many payments can we enter into?

Regular payment plans can be set up for a maximum of 12 months and they can recur fortnightly, monthly or quarterly. Shortly before your plan is due to finish, one of our accredited dealers will contact you to discuss renewing or changing the plan depending on your requirements.

 

                

The MoneyGram Money Transfer service is provided by OFX

Customer Rates


Rate: 0.7871
=
Rate: 1.2705
=
* excludes transfer fees Go

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Disclaimer - The MoneyGram Money Transfer service is provided in Australia by OzForex Limited (ABN: 65 092-375-703) (trading as "OFX").

IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OFX makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.

DISCLAIMER: Where information is provided on this website, it has been prepared by OFX without considering the investment objectives, financial situation and particular needs of any person. Before acting on any general advice on this website, you should consider its appropriateness to your circumstances.
This website contains information obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.
Neither OFX, its related entities, nor MoneyGram Payment Systems, Inc.(“MoneyGram”), and its related entities, nor any of OFX's providers of information, have any liability to the user, or any other third party, for the accuracy of the information or models contained in this website, or for any errors or omissions therein, nor will OFX or any of its providers of information have any liability for the use, interpretation or implementation of the information or models contained herein by any person.
OFX will pay MoneyGram a referral fee, and MoneyGram’s representatives may receive commission in relation to transfers you conduct using the MoneyGram Money Transfer service.
OFX is regulated in Australia by ASIC (AFS Licence number 226 484) © 2015 OzForex Limited ABN 65 092-375-703