Alternative Finances

MoneyGram's New U.S.-Mexico Channel

MoneyGram users who wish to transfer money to Mexico can look forward to much faster processing times. The international money transfer and payment services company has announced a new U.S. - Mexico channel than can move money cross-border from user to user in just 30 minutes.

"MoneyGram has an excellent track record in Mexico, recently achieving 31% year over year transaction growth in the first quarter. We are now focused on expanding self-service options for our customers who prefer to receive funds directly into their bank accounts," says Juan Agualimpia, Global CMO & EVP Latin America/Caribbean at MoneyGram in a released statement. "MoneyGram's customers in Mexico can now choose between the most convenient cash pick-up network or the fastest account deposit service."

As of May 1, 2014, customers across Mexico and at select banks in Honduras, El Salvador and Guatemala had access to direct funds deposit from MoneyGram into a bank account within one hour. This only applies to transfers made during banking hours, after banking hours transfers will be credited to the appropriate account the following morning.

MoneyGram offers money transfer services worldwide through a global network of 339,000 agent locations.

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The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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