Moneygram

Just wondered if Moneygram is a worthwhile payment for buying and selling gold? It's the closest sort of money transaction to me, closer than a Western Union. What does the receiving of the cash and sending require?

 

Anyone?

 

I'm not american/nor reside in America, but I believe Moneygram is identical to WU, with a steeper fee. Oh, and I'm pretty sure it's within America only.

 

Nope, its world wide. Only problem is you can not send online, so you have to go to the store which is very annoying.

 

Do people use it here though?

 

A few people do but WU is a lot more common.

 

It has very high costs I think, and I'm fairly certain you have to physically go to a place that transfers funds and pay them to do it for you. I'd stick with online payment methods such as LR.

 

You can still use WU online, although it is harder. Stick with PayPal - MoneyBookers - Debit/Credit Cards - Liberty Reverse - Google Checkout - Real Life Goods - Alert Pay - OneBip - Western Union - Bank Transfers - Mail.

 

The thing is, I'm almost 16 and a Moneygram place is around the corner from me and a WU is a lot further.

What payments are open for someone of my age?

 

Well in that case, you can't do WU or Moneygram. Your best bet is to get a Green Dot Moneypak from Walgreens and find a seller accepting them. You get good prices on them because people can apply them direct to their PayPal accounts and its impossible to chargeback. You just go in and buy the card for 5 bucks and put how ever much money you want to put on it at the checkout.

 

I live in the UK, also.

 

It is worldwide and it is actually cheaper than Western Union, just has fewer locations. You can send online with MoneyGram but only in few select countries, USA being one of them, not sure on others.

They don't ask for ID unless you're sending over $900, or $1,000 on Western Union.

 

Could you please recommend some viable options for a 16 year old from the UK? I could probably get by as 17 year old from height. You seem to own a shop and I want to get into the gold business.

 

Edited previous thread to answer that question.

 

Thank you! Can I accept OneBip at my age?

 

You can do UK-BT Bank transfer, you just need a account with any UK Bank =] They are free to send to any other UK bank and I have noticed it is pretty cheap to buy. www.Natwest.co.uk to make a bank account online if your UK.

 

What would the process be?

 

Its a normal bank account, you just log in to your bank online. Get their Sort Code and Account number and send them cash online. Its instant and 100 percent chargeback proof. You get the normal debit card, cheque book etc etc with it too so when your older you can link a PayPal to it when your 18 etc etc or buy stuff online with your profits.

 

Moneygram is actually way cheaper for me.

The fees to send anywhere in the world for me is a mere $11, but it's definitely different for you. It's around $40 when using Western Union. And I have several branches of both WU and MG minutes away.

@Busta They ask me for my ID no matter the amount I send via WU or MG. I suppose it varies on either the country, or just the branch.

Maybe you can get a good friend to pick it up? Or go with them? Or maybe they would allow you to send/Receive even if you're underage, have an ask or google around.

 

Thank you, Apith!

So, would opening a store accepting only Moneygram be good?