Yes, you can send money to your bank account through MoneyGram, but the process depends on which MoneyGram service you use
MoneyGram offers two main ways to receive money into a bank account: direct deposit and account deposit. Direct deposit is faster and works if the sender initiates the transfer through MoneyGram's online platform or mobile app. Account deposit is slower and requires you to pick up a reference number and manually deposit it yourself at an ATM or through your bank's app. The method available to you depends entirely on how the sender chooses to send the money — you cannot force them to use one route over the other.
MoneyGram does not send money directly to your account on its own. The sender must select your bank account as the destination when they initiate the transfer. If they choose cash pickup instead, you will have to collect the money yourself and deposit it. If they choose direct deposit, the money can arrive in your account within minutes to a few hours, depending on your bank and the time of day the transfer was sent.
Key Takeaways
- Direct deposit from MoneyGram reaches your bank account in minutes to a few hours, but only if the sender chooses that option when sending.
- Account deposit requires you to receive a reference number and deposit the funds yourself through your bank's ATM or mobile app, which takes longer.
- You need to provide the sender with your bank routing number and account number for direct deposit to work.
- MoneyGram charges the sender a fee for the transfer; you do not pay a fee to receive money into your account.
- Not all banks accept MoneyGram direct deposits, so confirm with your bank before giving your account details to the sender.
How direct deposit from MoneyGram works
When a sender uses MoneyGram's website or mobile app to send money, they can choose to deposit it directly into a U.S. bank account. To do this, they enter your routing number and account number. MoneyGram then sends the money to your bank, which processes it like any other incoming transfer. The money typically arrives within a few minutes if sent during business hours, or within a few hours if sent outside banking hours.
You do not need to do anything to receive a direct deposit. The sender handles the entire transaction on their end. Your only responsibility is to make sure you give them the correct routing and account numbers. If you provide incorrect information, the transfer may be rejected or sent to the wrong account, and the sender will need to contact MoneyGram to correct it.
Direct deposit is the fastest and most convenient option because the money lands in your account automatically. You do not have to visit a MoneyGram location, wait in line, or manually deposit anything. However, the sender must choose this option — if they select cash pickup instead, you will not receive the money this way.
Account deposit: when you receive a reference number instead
If the sender chooses cash pickup or if your bank does not accept MoneyGram direct deposits, you will receive a reference number instead. This number allows you to deposit the money yourself through your bank's ATM or mobile app, or by visiting a branch in person.
To deposit using the reference number, log into your bank's app or visit an ATM that accepts mobile check deposit or MoneyGram deposits. Enter the reference number and the amount, and your bank will process the deposit. This typically takes one to three business days to clear, depending on your bank's policies. Some banks clear MoneyGram deposits faster than others, so check with your bank about their specific timeline.
This method is slower than direct deposit because you have to initiate the deposit yourself, and your bank has to process it. It also requires you to have access to an ATM or your bank's app. If you cannot deposit the money quickly, it sits in limbo until you do.
What information you need to provide for direct deposit
To receive a direct deposit from MoneyGram, you need to give the sender two pieces of information: your routing number and your account number. Both appear on the bottom left of your checks, or you can find them by logging into your bank's website or calling customer service.
The routing number identifies your specific bank branch. The account number identifies your individual account within that bank. Together, they tell MoneyGram exactly where to send the money. If you provide either number incorrectly, the transfer will fail or go to the wrong account.
Do not provide your PIN, password, or card number. MoneyGram and your bank only need the routing and account numbers. If someone asks for more than that, they are attempting fraud.
Banks that accept MoneyGram direct deposits
Most major U.S. banks accept MoneyGram direct deposits, including Bank of America, Wells Fargo, Chase, Citibank, and most credit unions. However, not all banks participate, and some smaller regional banks or online-only banks may not accept them.
Before you give your account details to the sender, contact your bank and confirm that they accept MoneyGram direct deposits. You can call customer service, check your bank's website, or ask at a branch. If your bank does not accept them, the sender will have to use cash pickup instead, and you will receive a reference number to deposit manually.
If you are unsure whether your bank accepts MoneyGram deposits, ask the sender to test with a small amount first. If it fails, you will know immediately and can arrange an alternative method.
Fees and what you pay to receive money
You do not pay any fee to receive money into your bank account through MoneyGram, whether it arrives by direct deposit or reference number. The sender pays MoneyGram's transfer fee, which varies based on the amount sent and the destination country (if applicable). Domestic transfers within the U.S. typically cost between $5 and $15, depending on the amount and how fast the sender wants it to arrive.
Your bank may charge you a fee if you use an out-of-network ATM to deposit the reference number, but that is your bank's fee, not MoneyGram's. Direct deposits do not trigger any bank fees on your end.
What to do if the money does not arrive
If you were supposed to receive a direct deposit and it has not arrived after a few hours, first check that the sender used the correct routing and account numbers. Ask them to log into their MoneyGram account and verify the details they entered. If the numbers are wrong, the transfer may have been rejected or sent elsewhere.
If the numbers are correct but the money still has not arrived after 24 hours, contact your bank's customer service. Give them the MoneyGram reference number (if the sender has one) and ask them to trace the transfer. Your bank can see whether the money arrived on their end and where it went.
If your bank confirms the money never arrived, the sender should contact MoneyGram directly. MoneyGram can investigate the transfer and either resend it or refund the sender. This process typically takes three to five business days.
Frequently Asked Questions
Can I receive money from MoneyGram if I do not have a bank account?
No, direct deposit requires a bank account. If you do not have one, the sender must choose cash pickup instead, and you will need to collect the money in person at a MoneyGram location. You can then deposit the cash into a bank account, or use it as needed.
How long does it take for MoneyGram direct deposit to show up?
Direct deposits typically arrive within minutes to a few hours, depending on when the transfer was sent and your bank's processing speed. Transfers sent after 5 p.m. or on weekends may not arrive until the next business day. Transfers sent during business hours usually arrive within an hour.
What if I give the sender the wrong routing or account number?
If the numbers are incorrect, MoneyGram will reject the transfer or send it to the wrong account. The sender should contact MoneyGram immediately to correct the information and resend the money. Do not wait — the longer the delay, the longer it takes to fix the problem.
Can I receive MoneyGram money at a credit union instead of a bank?
Yes, most credit unions accept MoneyGram direct deposits. Contact your credit union to confirm they participate before giving your account details to the sender. The process is the same as with a bank — you provide your routing and account number, and the money arrives by direct deposit.
Is it safe to give my routing and account number to someone for a MoneyGram transfer?
Yes, routing and account numbers are designed to be shared for incoming transfers. They are not sensitive like a PIN or password. However, only share them with people you trust, and only when you are expecting a MoneyGram transfer. If someone you do not know asks for these numbers, do not provide them.