Please Read First!: Paypal v/s Monegramstarted by Rob Morrow71 on Jun 26, 2014 — RSS Feed
What is the difference between paypal and moneygram and which is the best for money transfer.
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PayPal is a type of e-business through which people can pay or receive money online, if having PayPal account. It saves time because the online payments are much quicker than clearing of checks (cheques). A person can fund PayPal account with bank debit card and credit card if needed. To make an account on PayPal is free and sometimes they charge a fee, if a particular account is wanted.
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PayPal account holder you receive a card. The money sent to your account is automatically deposited to the card. You can use the card to withdraw money at any ATM machine in the world. At the time, when I was using the system, the ATM charged 5% for the transaction. Where as With Money Gram the process is a little bit complicated. With this system, the sender has to find the company’s location or representative take some ID with him/her. At the location, the MoneyGram agents offers a form to fill in, where the relevant receiver’s and sender’s information and the sum being sent is provided. Once everything is processed, a unique code is generated by the system. This code should be passed to the receiver; otherwise he will not be able to receive the money.
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