With MoneyGram you can do a person-to-person money transfers to and from other countries outside the common monetary area (South Africa, Lesotho, Swaziland and Namibia).
The convenience lies in the fact that the money can be collected at any country where MoneyGram is available without the need of a banking account. It is a secure and fast way to get money to family and friends across the globe.
With MoneyGram, you can send or receive your money in over 227 000 outlets in over 190 countries. The association with MoneyGram allows Standard Bank to offer you this worldwide service.
- It is fast and convenient because the money can be collected in just 10 minutes* of it being sent (subject to receiving agents’ hours of operation, time zones and local regulations).
- With every transaction you may add a personal message of up to 40 characters at no extra cost. The message is handed to the person collecting the money.
- No banking details required.
Visit any Standard Bank Foreign Exchange branch and take with you the following documents:
- Your identity document or passport
- FICA documents if you do not have a bank account at Standard Bank ( click here for information on the Financial Intelligence Centre Act )
- Documents required by the South African Exchange Control where necessary (please ask the branch to assist you with these)
- MoneyGram is limited to US$9,999 per transactions and US$20,000 per month provided you remain within relevant exchange control limits.
- Your money will be converted between Rand and US Dollars by Standard Bank at a competitive exchange Rate.
Cost of using MoneyGram
As the sender, you need to pay the fee charged for the money transfer. The recipient does not pay anything. Check with the Standard Bank foreign exchange branch nearest you for the latest fees.
When sending money
- You can send a transfer though MoneyGram for the following transactions:
- Donations to missionaries
- Foreign nationals may use MoneyGram to send money abroad
- You need to provide necessary documents as stated above.
- The amount that you are sending is automatically converted to US dollars at the rate at the time of the transaction by Standard Bank. Your money will automatically be converted to the currency allowed in the country your beneficiary.
- We will then be provide you with reference number. Which you will need to give to your beneficiary.
- Please advice your beneficiary that the money must be collected within 45 days. If not, they will need to claim the money from MoneyGram directly.
When collecting money
- Make sure you have the MoneyGram reference number from the person who is sending the money.
- Also remember to present a valid form of identification to confirm that you are the correct recipient of the money transfer.
- You may also need to answer a qualifying question.
- For your convenience, Standard Bank offers you a Rand TravelWallet card, that you can load your money onto when you receive it. It’s safer than carrying cash.
- For more information on MoneyGram fraud, Please click here