MoneyGram helps people send money, receive money, and pay bills through a vast network of over 350,000 agent locations in more than 200 countries.
Established way back in 1940, the company has become one of the most reliable, trusted, and secure means of remitting funds. MoneyGram is the second-largest international money transfer company, only after Western Union.
MoneyGram's online transfers and mobile money transactions rose by 81% in April this year because of the Coronavirus pandemic. This shows that its digital money transfer channels are providing much-needed quality services to the customers. MoneyGram has been investing heavily in the last few years to build a better digital experience for customers.
MoneyGram's mobile apps have 4.8/5 stars on Apple's App Store and 4.5/5 on Google's Play Store.
Additionally, MoneyGram has various rewards programs for its loyal customers;
What are the different ways to send money through MoneyGram?
MoneyGram offers several options to send money across 200 countries around the globe. Below is a list of products and services offered by MoneyGram:
With so many options to send and receive money, MoneyGram allows you to opt for a service and product that best suits your convenience through MoneyGram MyWay.
If you have a problem that needs resolution or suspect fraud, contact MoneyGram Customer Service immediately. MoneyGram's customer care is reachable at their contact number 1-800-926-9400, email at [email protected], and tweet at @MoneyGram.
MoneyGram money transfers are fast, reliable, and convenient. Their services are available all around the world. Send money online through MoneyGram's website or app either by paying using a debit or credit card or directly from your bank accounts (MoneyGram allows Visa and MasterCard only). You can choose to send from any MoneyGram location near you and pay in cash or a check.
Yes. However, different modes of payment will have different fees. Credit cards tend to be more expensive than debit and online transfer. In some cases, credit card companies may also charge a cash advance for money transfers.
All the forms related to money transfer are available on their website here. The type of form required will depend on the service you are seeking. For example, the form below is to get a photocopy of the money order.
Best NRE Accounts for NRIs Across the GlobeFor Non-Resident Indians (NRIs), managing finances across borders becomes essential, and having the right bank account is crucial. One of the go-to options is the NRE (Non-Resident External) account, designed to facilitate seamless money transactions and savings for NRIs.What is an NRE Account?An NRE account is a type of bank account for NRIs to maintain and manage their foreign earnings in India. The acronym 'NRE' stands for Non-Resident External, indicating that the funds deposited into this account are from overseas sources. NRIs can deposit foreign currency into an NRE account, and the balance and interest earned are freely repatriable, i.e., both the principal amount and interest can be transferred abroad without any restrictions.NRE vs. NRO AccountIf you are just starting to explore the options of NRI banking, you might have heard of NRO accounts. NRE and NRO (Non-Resident Ordinary) accounts are two distinct types of accounts catering to different financial requirements. While NRE accounts are primarily for repatriable income and earnings from outside India, NRO accounts are for managing income earned in India. Both account types serve NRIs' distinct banking needs, providing avenues for managing Indian and foreign income separately.What Makes a Good NRE Account?Several factors contribute to making an NRE account a preferred choice for NRIs:Repatriation Benefits: Opt for accounts that offer seamless repatriation of both principal and interest earned without any restrictions.Interest Rates: Look for accounts that provide competitive interest rates to maximize returns on your deposits.Convenience: Choose banks that offer easy accessibility through online banking platforms, especially for NRIs residing abroad.Customer Service: Opt for banks known for their reliable customer service and efficient grievance redressal for a hassle-free banking experience.Best NRE Accounts for US-based NRIs and Foreign-Based IndiansSeveral banks offer top-notch NRE savings accounts tailored to meet the diverse financial needs of NRIs. Here are some of the best NRE accounts available. To determine the best account for your needs, view a more detailed comparison of each bank’s interest rate, key features, and more on our CompareRemit NRE Account Comparison Site. ICICI Bank NRE Savings AccountA household name, ICICI Bank is a very popular and safe choice for your banking needs. It is the one most often chosen by NRIs.Key Features: Higher interest rates, zero balance requirement, online remittance services, and NRI-focused banking solutions.Learn more about ICICI NRI and to get started with your application. HDFC Bank NRE Savings AccountA competitive player in the field, HDFC Bank is known for its high interest rates and benefits for its customers. Key Features: Competitive interest rates, 24/7 online access, easy fund transfers, and a global presence.Yes Bank NRE Savings AccountYes Bank provides a unique feature which many NRIs find helpful, a personal relationship manager who can guide you through your questions and account needs. Key Features: Flexible interest rates, hassle-free fund transfers, a dedicated personal relationship manager is assigned to each account holder. State Bank of India (SBI) NRE Savings AccountAnother household name, State Bank of India is reputed for its reliable service and dedication towards keeping the process simple and easy for its customers. Key Features: Widest network, attractive interest rates, simple documentation, and multi-currency facilities.Kotak Mahindra Bank NRE Savings Account Kotak Mahindra Bank serves as an excellent choice for those looking for a service that will give you a reliable and a high interest rate wielding account. Key Features: High-interest rates, convenient banking services, and personalized solutions for NRI customers.Axis Bank NRE Savings AccountAxis Bank, previously known as the ever-reliable CitiBank, continues the staple practices that gave CitiBank its reliable name. This is a great option for those looking for a bank with years of experience and reliability. Key Features: Flexible deposit options, competitive interest rates, user-friendly online banking, and diverse financial products.Choosing the right NRE account depends on individual preferences and banking needs. Each of these banks offers competitive interest rates, online banking convenience, and excellent repatriation facilities suitable for NRIs managing finances from abroad.NRE accounts serve as an ideal financial solution for NRIs seeking efficient money management, seamless repatriation of funds, and tax benefits. By choosing the right NRE account based on individual preferences and banking needs, NRIs can effectively manage their finances and easily send money back home to their loved ones in India.
Sending money internationally is now easier than ever with the right service provider. PassTo is a convenient option for individuals in the UK who want to transfer money from GBP to INR and support their loved ones in India. In this article, we will guide you through the simple and efficient process of using PassTo for your international money transfer needs.Why Should You Choose PassTo?When it comes to international money transfers, PassTo is the clear choice for users in the UK. With their reliable and secure platform, PassTo ensures that your funds are transferred safely and efficiently.Here are some of the reasons why PassTo should be your top choice when sending money abroad:The first transfer is freeSpecial welcome exchange rates for new usersSend money to over 70 countries worldwide from the UKTransfer money in as little as a few minutes or same day/next business dayExcellent customer service via email, phone, or in-App chatSend up to £3,000 per day to most of our countriesSet up an account in just 2 minutesEarn a £50 gift through our rewards program when you invite 3 friends to make their first transfer of at least £200 eachPassTo is authorized and regulated by the FCANow that you understand why PassTo is the preferred option for sending money abroad, let's dive into the straightforward steps involved in initiating your first transfer from the UK to India.How to Send Money from the UK to India with PassToIn just a few simple steps, you'll be well on your way to sending money from the UK to India in no time. Step 1: Create an Account with PassToTo get started, visit the PassTo website (https://passto.co.uk) or download the PassTo mobile application from here and sign up for an account. Provide the necessary details and complete the registration process. Once your account is created, you'll gain access to PassTo's features and services.Step 2: Verify Your IdentityAs with any reputable money transfer service, PassTo requires you to verify your identity to comply with regulatory requirements. This step typically involves submitting valid identification documents, such as your passport or driver's license, and proof of address.Step 3: Choose a Payment MethodOnce you have successfully registered, you can proceed to choose a payment method from the options provided. PassTo allows you to select either your bank account, credit card, or debit card as the source of funds for the transfer.Step 4: Add a RecipientAfter verifying your identity, you can add a recipient to whom you wish to send money. Provide the recipient's details, including their full name, contact information, and bank account details in India and the details will be saved for future transfers . You also have the flexibility to choose how the recipient will receive the money. PassTo offers three options: bank deposit, mobile wallet credit, or cash pickup. You can select the most convenient option for your recipient.Step 5: Choose the Transfer Amount and CurrencySpecify the amount you wish to send in GBP and select the desired currency as INR. PassTo will display the current exchange rate and any applicable fees associated with the transfer. Take note of the exchange rate as it will impact the final amount your recipient will receive in Indian Rupees.Step 6: Review and ConfirmCarefully review all the details of the transfer, including the recipient's information, transfer amount, exchange rate, and fees. Double-check for any errors or discrepancies. If everything is accurate, proceed to confirm the transfer.Step 7: Track the TransferThroughout the process, PassTo keeps you informed and updated on the status of your transaction. You can conveniently track the progress of your transfer within the app itself or receive push notifications, ensuring that you are always aware of where the money is going and how long it is expected to take to reach its destination.Step 8: Money Delivered to the RecipientOnce PassTo processes the transfer, the money will be delivered to the recipient's bank account in India. The time it takes for the funds to reach the recipient may vary, but PassTo strives to offer quick and reliable transfers. It often can be delivered in as little as a few minutes!Sending money from GBP to INR can be a hassle-free experience with PassTo. By following the steps outlined above, you can take advantage of PassTo's user-friendly platform and robust services to securely transfer funds to India. With PassTo, you can ensure that your money reaches your loved ones in India conveniently and efficiently.
As with any other currency pair, the GBP to INR exchange rate fluctuates based on supply and demand on the international market.Inflation rates, interest rates, imports and exports, the political climate, and economic conditions are a few of the key factors that affect the fluctuation of currency values.Rate Increase by the Bank of England is Viewed as DovishEven though the Bank of England is expected to raise interest rates by 75 basis points, which would be the biggest increase since 1989, economists predict that policymakers will take a more dovish stance in the future as the likelihood of a recession rises. As U.K. inflation reached a 40-year high of 10.1% in September this year, the Bank is anticipated to increase its main lending rate for the 8th time in a row. However, slower growth momentum and a significant change in fiscal policy are expected to limit calls for further aggressive monetary tightening. The new prime minister, Rishi Sunak, dropped the controversial tax cuts at the centre of his predecessor Liz Truss' fiscal policy plan, so there is no longer a conflict between monetary and fiscal policy.The government's U-turns, which reduced market turbulence, mean that the Monetary Policy Committee (MPC) of the Bank won't have to counter the additional inflationary impact of government policy as it considers the possibility of future weaker growth.In light of what is likely to be a less generous household and business energy cost assistance scheme under Sunak, Goldman Sachs economists on Monday downgraded their 2023 U.K. growth predictions from an annual rate of -1% to -1.4%.Following Liz Truss' dismal fiscal policy statements in late September, the pound hit a record low versus the dollar. However, with Sunak's appointment and his decision to keep the more moderate Finance Minister Jeremy Hunt, the pound has since recovered somewhat.Sending Money Overseas When sending money to a foreign country, you need to take the current exchange rate into consideration. Take, for instance, the case of sending money from the UK to India. When you send money to India at a time when the exchange rate is favourable, the amount of money that your recipient receives will be higher.Today’s GBP to INR exchange rate (as of November 27, 2022) is 98.7572 INR per 1 pound as per Pound Forecast.GBP to INR 2023 Forecast Monthly GBP to INR Forecast 2023 MonthOpenMin-Max in INRCloseAveragedJanuary 1 GBP/102.05 INR102.05-106.691GBP/105.11 INR103.98February1 GBP/105.11 INR101.99-105.111 GBP/103.54 INR103.94March1 GBP/103.54 INR98.92-103.541 GBP/100.43 INR101.61April1 GBP/101.09 INR99.43-102.451 GBP/100.94 INR100.81May1 GBP/92.09 INR97.53-100.941 GBP/99.02 INR99.61June1 GBP/99.02 INR99.02-102.421 GBP/100.91 INR100.34July1 GBP/100.91 INR96.41-100.911 GBP/97.88 INR99.03August1 GBP/97.88 INR94.93-97.881 GBP/96.38 INR96.77September1 GBP/96.38 INR95.97-98.891 GBP/97.43 INR97.17October 1 GBP/97.43 INR95.49-98.391 GBP/96.94 INR97.06November1 GBP/96.94 INR96.18-99.101 GBP/97.64 INR97.47December1 GBP/97.64 INR93.84-97.641 GBP/95.27 INR96.10Source: Pound ForecastEven though you can send money through your banks, this is not the best option for sending money abroad. The good news is that the market is flooded with companies specialising in money transfers.PassTo is one such company that offers money transfer services from the UK to several countries and could be your best option for transferring money from GBP to INR. It is a London-based money transfer app that was introduced in late 2019 to offer simple, affordable money transfer services that save time, effort, and money. It primarily targets expats living in the UK.Reasons to Choose PassToPassTo has a lot to offer when it comes to transferring money:Easy Sign-up processSend money to friends and family in over 60 countries worldwide, and expandingGet the best exchange ratesTransfer money with no hidden fees Get discounted pricing for new usersFree First 2 transfers FCA regulated secure platformGet your money transferred in just a few minutes or same day/next business daySend Airtime Top-ups to 150+ countries in real-timeSend up to £2,000 per dayEarn money using PassTo Rewards ProgramMultiple payments and delivery methods24/7 customer service via email, phone, or in-App chatTrust score 4.6/5 stars on TrustPilotPassTo FeaturesTransparent Pricing and Competitive Exchange RatesPassTo fees are always shown upfront before you make your transfers. Do note that the fees will vary based on the destination country, the payment method, and the delivery method.PassTo uses an in-house algorithm that compares the exchange rates on behalf of its customers to provide the best exchange rates when sending money abroad. Even though there are several variables that affect the rates, you'll be able to view the best rates for the currency corridor you've chosen so that you can estimate how much money your recipient will receive.Faster Transfer PassTo can deliver your money in as little as a few minutes, making it one of the fastest transfer services available. For some countries, it can show up the same business day or the day after.Higher Sending LimitsYou can typically send up to £2,000 per day, £10,000 per month, and £50,000 annually. However, the limits will vary from country to country.Multiple Payment Options You can fund your transfers using debit cards, bank transfers, and credit cards.Multiple Delivery MethodsTransfer money to bank accounts, mobile wallets, Cash Pickup agents, and airtime top-ups. PassTo Rewards ProgramRefer your 3 friends to PassTo and earn a £50 gift when they make their first transfer of at least £200 each. Your friends will also get a £5 gift each. You can visit their website to learn more about their rewards program.How Do I Transfer Money Using PassTo?Here is a step-by-step guide to transferring money using PassTo:Download the PassTo app from the App Store or Google Play Store or visit their websiteSign Up & create an account Verify your account Set up your preferred payment method Enter details about your recipient Verify the transfer details Press Send!Track your transfer in the app itselfBy using PassTo, you can send money internationally with transparent fees, the best exchange rates, and a platform that is both safe and simple to use. Use PassTo to send money from the UK to India today!To compare all exchange rates, fees, and transfer speeds, use our online comparison tool for GBP to INR here.