Sending money from PayPal to MoneyGram can be tricky. PayPal is great for online payments, while MoneyGram is known for sending money worldwide. You can send money to over 200 countries with MoneyGram.
To start, go to the ‘Withdraw’ section in your PayPal account. Choose how you want to withdraw, enter the amount, and set up the transfer. Make sure your accounts are linked and verified on both platforms for a smooth transfer. The time it takes to transfer funds varies, from a few minutes to several days.
It’s also important to know the costs and speeds of these transfers. PayPal to bank account transfers take 3-5 business days. MoneyGram, on the other hand, can be faster, with funds available in minutes. But, there are fees to consider. PayPal has a $500 daily limit for MoneyGram, and MoneyGram charges a $2.99 fee for PayPal withdrawals, plus extra fees based on the destination.
Before you send money, check the fees and exchange rates. For example, sending $200 to Canada via MoneyGram costs around $213 USD. Sending the same amount to Australia costs $214 USD. Looking for cheaper and faster options might be a good idea. Read a detailed guide on how to send money from PayPal to MoneyGram to make an informed choice.
How to Link Your PayPal and MoneyGram Accounts
Linking PayPal with MoneyGram is key for easy transfers. You can start by going to the MoneyGram ‘Receive’ section. There, choose PayPal as your payment method to begin the process. Here’s a step-by-step guide:
- Navigate to the MoneyGram app or website.
- Go to the ‘Receive’ section and select PayPal as the payment method.
- Input your PayPal email or credentials to authenticate your accounts.
- Complete any identity verification steps required by MoneyGram.
- Confirm the linking to finalize the PayPal to MoneyGram linking process.
Setting up your MoneyGram account means you’ll need to verify your identity. This step is important to ensure your money goes to the right place. It’s part of MoneyGram’s promise to keep your transactions safe.
When you set up PayPal transfers, you have two ways to get your money. You can either transfer it to a bank account or use a PayPal debit card at an ATM. Instant transfers are fast, taking just minutes. Plus, you can link up to 8 bank accounts to one PayPal account, making it easier to manage your money.
MoneyGram is available in over 200 countries and territories. It also offers the MoneyGram Plus Rewards program and lets you set up recurring transfers. PayPal makes it easy to link these services, helping you manage your finances smoothly.
Guide to Send Money from PayPal to MoneyGram
Sending money from PayPal to MoneyGram is easy and fast. Start by going to PayPal’s ‘Send Money’ section. Here’s how to send money from PayPal to MoneyGram:
- Select ‘Send money to friends and family’.
- Enter the recipient’s MoneyGram-linked email or phone number.
- Review the transaction details, including any fees applied by PayPal.
- Once verified, the funds will be processed and forwarded to MoneyGram.
The recipient will get a notification from MoneyGram. They can choose to get the money in their bank or pick it up at a MoneyGram location. This makes it easy for people in different places to get their money.
For international money transfers, PayPal and MoneyGram are great options. The World Bank says banks are the most expensive, but PayPal is cheaper. This makes sending money abroad easier and less expensive.
Also, transferring money internationally with PayPal and is faster and cheaper than banks. For example, sending money through PayPal and MoneyGram can save you a lot of money compared to bank fees.
| Service | Coverage | Fees | Transfer Limits | Processing Time |
|---|---|---|---|---|
| MoneyGram | 200+ countries | $1.99 (varies by country) | $10,000 | Next business day |
| Xoom | 160+ countries | 5% + fixed currency fee | Up to $50,000/day | Within minutes |
| Wise | 170+ countries | < 1% | Varies by currency | Up to 2 business days |
By using PayPal and MoneyGram, you can send money abroad easily and affordably. This shows how well these two services work together.
Fees and Processing Times
When you send money from PayPal to MoneyGram, it’s key to know the fees and how long it takes. The cost to send money includes fees and charges. PayPal charges a percentage of the amount you send, plus a fee for converting currencies.
For example, sending money with a credit card through PayPal costs 2.9% plus 30 cents. PayPal also adds an exchange rate margin of 3.5 – 4%. This can greatly affect the total cost.
MoneyGram has its own fee structure. It includes both flat-rate and variable fees. These fees can depend on where the money goes and the currency.
MoneyGram charges about 5.05% above the mid-market rate for GBP to EUR transfers. With over 200 countries and 350,000 agent locations, MoneyGram’s network can also affect costs. Remember, there might be extra charges for local rules and operational fees.
PayPal to MoneyGram transfers are often faster than bank wire transfers. Bank wires can cost $25 and take up to 5 days. But, PayPal and MoneyGram can send money in minutes within their networks.
Keep in mind, the method you choose and bank processing times can slow things down. It’s smart to plan ahead and know the costs and times. For more info, check out Google Pay, Cash App, or Wise for comparisons.
