Yes, you can transfer money from MoneyGram to your bank account, but the method depends on which MoneyGram service you used to receive the money

If someone sent you money through MoneyGram, you have two main ways to get it into your bank account. The first is to pick up the cash at a MoneyGram location and deposit it yourself. The second is to have MoneyGram send the money directly to your bank—but this option is only available if the sender chose that method when they sent it, or if you're receiving a MoneyGram Online transfer. You cannot redirect a cash pickup transfer to your bank after the fact.

The timing and steps differ significantly between these routes. A direct bank deposit can take one to three business days from the time the sender initiates it. A cash pickup followed by your own bank deposit happens on your schedule, but you'll need to visit a MoneyGram agent location first, and then your bank's deposit processing time applies on top of that.

Key Takeaways

  • MoneyGram transfers sent directly to a bank account arrive in one to three business days; the sender must choose this option when sending.
  • If you received a cash pickup transfer, you must collect the money in person at a MoneyGram location before you can deposit it to your bank.
  • MoneyGram agent locations include Walmart, CVS, Walgreens, and independent money transfer shops; you'll need a valid ID and the reference number to pick up cash.
  • Once you have cash in hand, your bank's standard deposit rules explore—mobile deposit, ATM deposit, or teller deposit depending on your bank's options.

Direct bank transfers: when the sender chooses this route

If the person who sent you money selected "bank deposit" or "direct to bank" when they initiated the transfer, MoneyGram will deposit the funds directly into the bank account you provided. You don't need to do anything except wait. The transfer typically clears within one to three business days, depending on your bank's processing speed and whether the transfer was sent on a weekend or holiday.

To receive a direct bank transfer, you must have given the sender your bank account number, routing number, and the name on your account before they sent the money. If you didn't provide this information upfront, the sender would have had to choose cash pickup instead, and you'll need to use the cash pickup method described below.

You can track the status of a direct bank transfer through MoneyGram's website or by calling 1-800-448-1492. Have your reference number ready—this is the tracking code the sender received when they sent the money.

Cash pickup followed by bank deposit: the most common route

If the transfer was set up as a cash pickup, you'll need to collect the money in person at a MoneyGram agent location. MoneyGram operates through thousands of retail partners, including Walmart, CVS, Walgreens, Albertsons, and independent money transfer shops. Find the nearest location at moneygram.com or by calling 1-800-448-1492.

To pick up the cash, bring a valid government-issued ID (driver's license, passport, or state ID) and the reference number for the transfer. The reference number is a ten-digit code that the sender received when they sent the money—ask them for it if you don't have it. The agent will verify your identity, confirm the amount, and hand you cash. This takes about five minutes. There is no fee to pick up the money.

Once you have the cash, you can deposit it into your bank account through whatever method your bank offers: mobile deposit (photograph the checks or cash envelope), ATM deposit (if your bank has a cash-accepting ATM), or in person at a teller. Your bank's standard deposit processing applies—usually one business day for in-person deposits, one to two business days for mobile or ATM deposits.

MoneyGram Online transfers sent to your bank

MoneyGram Online is the service where someone sends money through moneygram.com or the MoneyGram mobile app directly to a recipient's bank account. If you received a MoneyGram Online transfer, the money goes straight to your bank without you having to pick anything up. The sender enters your bank details when they send, and the transfer arrives in one to three business days.

You'll receive a notification (usually by email or text, depending on what you provided) when the transfer is on its way. Check your bank account during the expected arrival window. If the money doesn't appear after three business days, contact MoneyGram with your reference number—there may be a mismatch in account details or a processing delay on your bank's end.

What happens if the reference number doesn't match or the account details are wrong

If you try to pick up cash and the agent says there's no transfer under that reference number, the sender may have used a different reference number, sent the money to a different location, or the transfer may not have been completed yet. Ask the sender to check their confirmation email or receipt—it will show the exact reference number and whether the transfer was sent as cash pickup or direct deposit.

For direct bank transfers, if the money doesn't arrive after three business days, the account details may be incorrect. Contact your bank first to confirm they haven't received a failed transfer attempt. Then contact MoneyGram with the reference number. MoneyGram can see where the transfer was sent and may be able to reverse it so the sender can resend it with corrected information.

Fees and limits

MoneyGram does not charge you a fee to receive money, whether it's a cash pickup or a direct bank deposit. The sender pays the transfer fee when they send. However, your bank may charge a fee if you deposit cash through an ATM that is not part of your bank's network, or if you use a third-party mobile deposit service. Check with your bank about its deposit policies.

There is no limit on how much money you can receive through MoneyGram in a single transfer. However, some banks have daily deposit limits for mobile or ATM deposits—if you're depositing a large amount of cash, a teller deposit may be faster and more reliable.

Frequently Asked Questions

How long does it take for money to appear in my bank account after I pick up cash at MoneyGram?

That depends on your bank and how you deposit. If you deposit in person at a teller, it usually shows up the same day or next business day. Mobile deposit and ATM deposit typically take one to two business days. Weekend and holiday deposits may take longer.

Can I pick up a MoneyGram transfer at any location, or does it have to be the one the sender chose?

You can pick up cash at any MoneyGram agent location. The sender doesn't choose a specific location—they just choose cash pickup as the delivery method. You decide where to go. Use the location finder at moneygram.com to find the nearest one.

What if I don't have a government ID to pick up the cash?

You cannot pick up a MoneyGram cash transfer without a valid government-issued ID. If you don't have one, ask the sender to change the transfer to a direct bank deposit instead, or ask a trusted person with valid ID to pick up the cash on your behalf (they will need the reference number and your permission).

Can I transfer the money to someone else's bank account instead of my own?

If it's a direct bank transfer, no—the money goes to the account the sender specified. If it's a cash pickup, you can pick up the cash and deposit it into any bank account you have access to, or give the cash to someone else to deposit into their account. The reference number and ID are what matter for the pickup.

What if the sender sent the money to the wrong bank account?

Contact MoneyGram when ready with the reference number. If the transfer has already been deposited to the wrong account, MoneyGram can attempt to reverse it, but the process takes time and depends on whether the receiving bank cooperates. It's faster to ask the sender to resend the money with corrected account details.