After seeing a few people starting to questions exactly how much it was going to cost them to use the MoneyGram Online service I thought it would be a good time to add a video tutorial on how much it costs to use MoneyGram to transfer money online.
This video takes you through a quick and easy way to find the MoneyGram costs associated with a transfer from any country that you’re thinking of sending money to or from via their cost estimator.
And here’s the full transciption of the video above:
Right, this is a very quick video showing you through how to find out how much it’s going to cost you to use the MoneyGram service. So the first thing we’re going to do is go to Google and type in “moneygram”, and we’re going to look for the MoneyGram website, which is Moneygram.com.
So when you go to the website, what we’re really interested in knowing at the moment is how much it’s actually going to cost us to use the MoneyGram service to transfer money from one country to another. So the MoneyGram service, when you first get to the website, you will see that it actually redirects you to a country-specific website, that in our case is for New Zealand, because I’m based in New Zealand.
Now, it’s a very simple website. So one of the first things you’ll want to know on a website like this is how much the service is actually going to cost me. We have the basic options, like how to send money and how to receive money, but what we’re really interested in right now is how much the sending or the receiving of that money is going to cost us. So you can see over here on the right-hand side, we have a button which says “How Much?”. So this should hopefully tell us exactly how much the MoneyGram service is going to cost us.
So we end up with quite a simple calculator tool, which is called the MoneyGram Cost Estimator. So this MoneyGram Cost Estimator is going to give us the basic details on the amount of money it’s going to cost us to transfer from one country to another.
So let’s first pick our country. So, at the moment I’m in New Zealand, so I’m going to pick the New Zealand country as the From country. We can select the currency that we want to transfer in, so I’m transferring from New Zealand dollars. We can select the country we’d like to transfer to, so I’m going to select the United States, which is on the list right there. So we’ve got a From, which is New Zealand, a Send Country, which is NZD, that stands for New Zealand dollars, and a Destination Country, which is the United States.
So the next option is the Receive Option. So this is the option that, the only option we’re given at the moment, allowing 18-minute service into the US dollar. So if we decide that we’re going to transfer 500 New Zealand dollars from New Zealand to the United States, we can estimate exactly how much that’s going to cost us.
So over here, we have our section that’s going to tell us exactly what it’s going to cost us. The exchange rate at the moment for the New Zealand dollar is 0.834905 USD. The Send Amount is actually only going to be 465 New Zealand dollars. The Receive Amount will be 388.23 USD, and the fee there is the $35. So that $35 is coming directly off the initial $500 that we were going to spend. The total cost is going to be 500, but the receivable money is only going to be $388.23. So you can see that $35 is taking quite a hefty fee out of our transfer.
That gives us a good example of how to find the costs associated with transferring money via the MoneyGram service.