Alert - Great USD Money Transfer Deal!

[OnMyWay]

I was updating my money transfer spreadsheet with Western Union and Moneygram, and came across this.  Seems too good to be true.  I would test it, but I have to keep my available dollars in the U.S. to cover my empty house payment and some selling costs.  Anybody need to transfer and you can test?

Moneygram.  This is for bank to bank.  $2500 max.  No fees.  Exchange rate 50.65, which is higher than the XE mid-market rate, which is 50.58.

[Joey G]

I use Moneygram all the time and like it.  But I always do the cash pickup which is almost instantly available and the cost isn't that much.  There are a couple reasons I don't do the bank to bank transfer.  1.) It takes 3-4 days, and I prefer to have the transaction to be instantly available... and 2.) IF for some reason I change my mind... I can cancel it without prying it out of the hands of the 2nd bank account. 

[hk blues]

9 hours ago, Joey G said:

I use Moneygram all the time and like it.  But I always do the cash pickup which is almost instantly available and the cost isn't that much.  There are a couple reasons I don't do the bank to bank transfer.  1.) It takes 3-4 days, and I prefer to have the transaction to be instantly available... and 2.) IF for some reason I change my mind... I can cancel it without prying it out of the hands of the 2nd bank account. 

But, if you have the transfer instantly available you won't be able to change your mind anyway.  

[OnMyWay]

9 hours ago, Joey G said:

I use Moneygram all the time and like it.  But I always do the cash pickup which is almost instantly available and the cost isn't that much.  There are a couple reasons I don't do the bank to bank transfer.  1.) It takes 3-4 days, and I prefer to have the transaction to be instantly available... and 2.) IF for some reason I change my mind... I can cancel it without prying it out of the hands of the 2nd bank account. 

That is very expensive.  $2500 for bank to bank gets you p126.375.  Bank to cash pickup, only 123,847.  p2528, about usd 50, to have a cash pickup.

[intrepid]

Okay for some reason MoneyGram would not allow me to enter my preferred payment option which would be Online Bank Account.  For me is BoA.  However, it did allow me to enter the debit card for the same account and also has the same transfer fee of $2.99 receiving method of direct to bank account (BDO).  The advantage of paying with debit card is the transfer is available immediately  vs 2-3 day wait using direct bank account.  The current exchange rate was 50.55
Next issue I had forgotten about is that BoA sends a “safe pass” code for setting up new payment transactions.  It was supposed to go to my daughter’s phone in the states who sends it to me.  However, for some reason they sent to my Magicjack # which will not receive these codes.  I’ll have to figure out why they sent to my # and wait for her to get up in the morning, (tonight) and try again.

I hate setting up new accounts

Edited April 9, 2020 by intrepid

[intrepid]

I think it is starting to come back to me now why I gave up on Moneygram in the past.  Bank of America was the issue with their safe pass.  I don't mind bothering my daughter once in a while to send me a code like setting up new accounts.  I will not say its a deal breaker at this point.  However, if I will need receive a code for every transaction, I will have to consider other options. 

[OnMyWay]

5 minutes ago, intrepid said:

I think it is starting to come back to me now why I gave up on Moneygram in the past.  Bank of America was the issue with their safe pass.  I don't mind bothering my daughter once in a while to send me a code like setting up new accounts.  I will not say its a deal breaker at this point.  However, if I will need receive a code for every transaction, I will have to consider other options. 

Yes, those are a pain.  If they can send the code by e-mail, it works great for me.  Phone, no.

[Arizona Kid]

3 hours ago, intrepid said:

I hate setting up new accounts

Me too. That's why I stick with what works for me. Damn the torpedoes..full steam ahead.

Edited April 9, 2020 by Arizona Kid
more info

[intrepid]

After this evening when if I fail again I'll be with you!

 

[hk blues]

3 hours ago, OnMyWay said:

Yes, those are a pain.  If they can send the code by e-mail, it works great for me.  Phone, no.

I suffer the same issue - due to my location it can take some minutes for an SMS to arrive, by which time it's timed out and I need a new one and we go around again... and again...