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 move it into your bank: pick it up in cash and deposit it yourself, or use MoneyGram's direct deposit feature if the sender used that option when they sent the funds. MoneyGram does not offer a direct transfer from their system into your bank account on your own — you either collect the cash or the money arrives in your account automatically if the sender chose that path.
The fastest route is direct deposit, which takes one to two business days once the sender completes the transfer. If you need to pick up cash instead, that can happen within minutes at any MoneyGram location, and you can then deposit it at your bank's ATM or branch. The choice is not yours to make after the money arrives — it depends on how the sender sent it.
Key Takeaways
- MoneyGram direct deposit transfers land in your bank account within one to two business days if the sender chose that option when sending.
- If the sender did not use direct deposit, you must pick up the cash at a MoneyGram location and deposit it yourself at your bank.
- Cash pickup happens within minutes at any MoneyGram agent location, but you need a valid ID and the reference number the sender provides.
- You cannot redirect a cash-pickup transfer to your bank account after it arrives — the sender controls the delivery method at the time they send.
How direct deposit from MoneyGram works
When someone sends you money through MoneyGram and selects direct deposit as the delivery method, the funds go straight into the bank account you provide. The sender enters your routing number and account number during the transfer, and MoneyGram processes the deposit on the next business day or within two business days depending on the time the transfer was sent and your bank's processing schedule.
You do not need to do anything once the money is sent this way — no pickup, no additional steps. The money appears in your account as a deposit from MoneyGram. If you have not received it within two business days, contact your bank to confirm they received the transfer, and contact MoneyGram with your reference number to verify the sender completed the transaction correctly.
Picking up cash and depositing it yourself
If the sender chose cash pickup instead of direct deposit, you will need to go to a MoneyGram location to collect the money. Bring a valid government-issued ID — a driver's license, passport, or state ID card — and the reference number the sender should have given you. The reference number is a ten-digit code that identifies your specific transfer.
Once you have the cash in hand, you can deposit it at your bank through an ATM, at a branch during business hours, or through your bank's mobile app if they offer mobile check deposit (though that only works for checks, not cash). For cash deposits, ATMs at your bank are usually available 24 hours, and branch deposits are processed the same business day if you deposit before the bank's cutoff time, typically 2 p.m. or 3 p.m.
What information you need to receive the transfer
For direct deposit, you need to give the sender your routing number and account number before they send the money. Your routing number identifies your bank, and your account number identifies your specific account. You can find both on the bottom left of any check you have, or by logging into your bank's website or app, or by calling your bank's customer service line.
For cash pickup, you only need the reference number the sender provides after they complete the transfer. That number is how MoneyGram identifies which transfer is yours. If the sender does not give you the reference number, ask them for it — without it, you cannot pick up the cash.
Timing for each transfer method
| Transfer Method | Time to Receive | What You Do |
|---|---|---|
| Direct deposit | One to two business days | Nothing — money appears in your bank account automatically |
| Cash pickup | Minutes to hours | Go to MoneyGram location with ID and reference number, then deposit cash at your bank |
Direct deposit is slower but requires no action from you. Cash pickup is faster to receive but adds the step of depositing it yourself. If you need the money urgently, cash pickup gets it to you faster, but you still have to physically go to a MoneyGram agent location and then to your bank.
What happens if the transfer does not arrive
For direct deposit, check your bank account first — sometimes deposits post overnight or early morning. If two business days have passed and you still do not see the money, log into your MoneyGram account online or call MoneyGram customer service at 1-800-448-1010 with your reference number. They can confirm whether the sender completed the transfer and whether it was sent to the correct account number.
If MoneyGram confirms the transfer was sent but your bank did not receive it, your bank's fraud or operations team may have blocked it. This happens occasionally when the routing and account numbers do not match your bank's records, or when your bank flags the transfer as unusual. Contact your bank with the reference number and ask them to search for the incoming MoneyGram transfer — they can often locate it and release it to your account.
For cash pickup, if you go to a MoneyGram location and they say the transfer is not there, the sender may not have completed the transaction, or they may have sent it to a different location or under a different name. Ask the MoneyGram agent to search by reference number, and if nothing comes up, contact the sender to confirm they finished sending the money and to get the correct reference number.
Fees and costs
MoneyGram does not charge you a fee to receive money — the sender pays the transfer fee when they send. However, if you withdraw cash and then deposit it at your bank, your bank may charge you a fee if you are depositing at an ATM outside your bank's network, though most banks allow free deposits at their own ATMs and branches.
Direct deposit has no additional cost to you. If you use a check-cashing service or a third-party app to deposit cash instead of going to your bank, those services may charge a percentage of the deposit amount.
Frequently Asked Questions
Can I change the delivery method after the sender has sent the money?
No. The sender chooses direct deposit or cash pickup when they send the transfer, and that choice cannot be changed once the transaction is submitted. If you need direct deposit but the sender chose cash pickup, you will have to collect the cash and deposit it yourself.
What if I do not have a bank account?
You can still receive MoneyGram transfers — just ask the sender to use cash pickup instead of direct deposit. You will pick up the cash at a MoneyGram location with your ID and reference number. If you want the money in a bank account eventually, you can open a basic checking account at most banks or credit unions, though that takes a few days.
How long can I wait to pick up cash before it expires?
MoneyGram holds cash pickups for 60 days from the date the transfer was sent. After 60 days, the money is returned to the sender. If you are close to that deadline, pick up the cash immediately and deposit it at your bank.
Do I need to report MoneyGram transfers to the IRS?
MoneyGram transfers are not automatically reported as income. However, if the money is payment for work or services, it may be taxable income depending on the amount and your situation. Keep records of who sent you the money and why, and consult a tax professional if you are unsure whether it counts as income.
Can someone send me money directly to my bank account without using MoneyGram?
Yes. If the sender has a bank account, they can send you money through their bank's wire transfer service, ACH transfer, or peer-to-peer payment app like Venmo or PayPal. Those methods are often faster and cheaper than MoneyGram, especially for domestic transfers.