MoneyGram is a cross-border P2P money transfer company that allows the customer to send money to a certain beneficiary, regardless of their location and distance from one another. It is headquartered in Saint Louis with established branches in multiple world nations. Sustenance of an organization of such prominence and importance entails the comprehensive and lucid redressal of doubts that the consumer might harbor, like the period of MoneyGram holding money. Thus today, we bring you a guide on how long does MoneyGram hold money. Also, you will learn what happens when the MoneyGram transaction limit exceeded or MoneyGram money not picked up.
How Long Does MoneyGram Hold Money
Read this article till the end to learn how many days MoneyGram holds money and if there are any extra charges on the money after exceeding the transaction limit in detail.
Can You Deposit a MoneyGram into Your Bank Account?
Yes, MoneyGram allows you to transfer money directly to a person’s bank account or online wallets in the United States and a few select countries.
How Can You Get MoneyGram into Your Bank Account?
To get MoneyGram into your bank account, you must first locate your nearest agent. Then, prepare for your agent’s visit. Also, furnish the information listed below:
- Your government-ratified ID card
- Your recipient’s full name according to government documents, bank account number, and bank name
- Location of your recipient
- The money you wish to dispatch, alongside the agent fees
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Does MoneyGram Send Money to Bank Account?
Yes, MoneyGram allows you to transfer money directly to a person’s bank account or online wallet. Keep reading further to find out how long does MoneyGram hold money.
Do Money Grams Expire?
No, MoneyGram orders do not expire. They lay untouched in the bank accounts. However, failure to extract or transact the money for a year will incur extra charges on the money, which will diminish its value or render it the title of an expired transfer.
Is There a Limit to Receive Money from MoneyGram?
Yes, there is a $10,000 money limit for MoneyGram transfers.
How Long Does MoneyGram Take to Transfer to Bank Account?
MoneyGram usually transfers your money within 2–3 days, while payout-option cash pickups and mobile wallets are transferred almost instantly.
How Many Days Does MoneyGram Hold Money?
MoneyGram holds money for 90 days. Exceeding this period makes it vulnerable to qualifying as an expired transfer, which might render your money incapable of transaction. Failure to extract or transact the money for a year will incur extra charges on the money.
How Long Does MoneyGram Take to Refund?
MoneyGram usually refunds your money within 3–10 days of your request but may also take longer depending on the prevailing circumstances.
Why Was Your MoneyGram Declined?
Your MoneyGram would be declined for the following reasons:
- Inadequate funds in your bank account
- Insufficient credit
- Incapable credit card advance payment
- Error in providing bank information
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What Happens If MoneyGram Money is not Picked Up?
After knowing how long does MoneyGram hold money, you would like to know the consequences when MoneyGram money not picked up. MoneyGram holds money for 90 days. When the MoneyGram transaction limit exceeded, it is qualified as an expired transfer, which might render your money incapable of transaction. Failure to extract or transact the money for a year will incur extra charges on the money.
How Can You Get Your Money Back from MoneyGram?
You can get your money back from MoneyGram by following any of the methods below:
- Cancel your transfer on the transaction details page.
- Go to the Self-Service Portal and click on Cancel a Transfer and provide the required details.
- Cancel the transaction by calling 1-800-926-9400.
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We hope you have understood how long does MoneyGram hold money in detail. You can drop your queries about this article and topic suggestions for future articles in the comments section below.