Short Answer: MoneyGram will hold cash transfers at its agent locations for 90 days. After 90 days, the transfer will expire, but the original payor can request a refund with the reference number and a government ID. For more information on the MoneyGram transfer process, see below.
How Long Does MoneyGram Hold Money?
If you are the original payor, you can request a refund of an expired transfer. MoneyGram will refund expired transfers to the original payor if they provide the transfer’s reference number and one the following forms of ID:
- Drivers license
- Social Security Card
- Other valid, government-issued ID
Note that the original transaction fees are generally non-refundable, even for expired transfers.
Money Transfer Process
MoneyGram allows customers to transfer funds online, between bank accounts, through money orders, and in cash. The 90-day hold period applies to online (debit or credit card) and cash transfers.
Deposit times for bank transfers vary but generally range from around three to four business days. MoneyGram money orders are valid for one year before MoneyGram begins charging service fees (as previously reported).
To send a cash transfer, you will need to bring cash and a valid government ID to a MoneyGram agent location near you. Note that you should bring enough money to cover the transfer, plus any associated fees — you can estimate fees on the MoneyGram website.
The cash will be available to the recipient within minutes. To receive money, you will need to provide the transfer’s reference number and show a valid, government-issued photo ID. The MoneyGram agent may also ask for proof of address.
Non-Cash Transfer Methods
As noted above, the MoneyGram website offers several other options for transferring money. You can use a debit or credit card to transfer funds online, can transfer money between bank accounts, and can also complete international money orders. For online transfers, the money is typically available within minutes; for transfers between bank accounts, deposit times vary. Online and bank account transfers also usually come with lower fees than cash transfers.
More Information About MoneyGram
Our previous research details the requirements for cashing a MoneyGram money order. We also provide the list of places that cash MoneyGram money orders.