MoneyGram– World second largest provider for money transfer
MoneyGram is US based company that is involved in money transfers across the world. MoneyGram mainly depends upon immigrants who leave their own country and move to new country for a desire of achieving better economic prosperity. MoneyGram allows people to transfer money through universal network that has connection to more than 200 countries and territories. Money transfers are done by the immigrants in large volumes each year as they send their earned money to their families. Money transfers are movements of money from one location to designated receiving location. The MoneyGram Company has network of agents and financial institution customers.
MoneyGram customers are subdivided in two ways, unbanked and underbanked. Some customers are not allowed and some are not interested to transfer money through banks. Such customers can make use of Global Fund Transfers to send some amount of money internationally, pay electronic bill and payments and buy money orders. MoneyGram offers outsourcing services for official check, high volume money orders and check processing to financial institutions. These official checks are more reliable than normal personal checks. In other words, MoneyGram sells money orders to individuals where a payee is required to have a check drawn by bank and by financial institutions to pay for their own duty.
MoneyGram provide reliable and quick transfer of funds across the world. MoneyGram is globally trusted network and work hard to achieve safer transactions and protection from fraudulent activities. MoneyGram business has two major divisions, Global Funds Transfers and Financial Paper Products. The products that fall under Global Funds Transfers are MoneyGram Money Transfer to transfer funds worldwide, MoneyGram Bill payment services that allows customer to pay routine bill or urgent payments, Property Bridge which allows the property owners to accept payments from their tenants. Financial Paper Products are large volume Money orders and Official Checks. MoneyGram International is the second largest money order supplier in the world.