MoneyGram is one of the international remittance methods similar to Western Union. Its business model is the same as Western Union. It currently ranks second among similar businesses in the world. MoneyGram remittance does not go through the bank channel, but through MoneyGram’s remittance channel, so there are many cooperative banks in China. The more common agent banks are Industrial and Commercial Bank of China, China CITIC Bank, Bank of Communications, and Bank of China.
There are 4 points to know in the specific operation:
1. The remitter’s last name and first name.
2. The remittance amount, to 2 decimal places.
3. The country of remittance.
4. The 8-digit monitoring number.
Then take your ID card (in person) to the corresponding bank to collect it.
MoneyGram’s handling fee is cheaper than Western Union’s. You can contact the customer service hotline of the above banks for details. Of course, there are also some non-bank agents, but only individuals can apply, and you need to bring your ID card to handle it. MoneyGram’s global remittance service between individuals can be handled at the MoneyGram counter of the bank. Industrial and Commercial Bank of China, Bank of Communications, CITIC Bank, and Bank of China all have MoneyGram services.