MoneyGram has been delivering its services to billions of customers throughout the globe for about 50 years. The company operates in more than 170 countries and enables its customers to transfer funds globally. MoneyGram is committed to developing a structure that could keep the funds of its customers safe and secure and for which the company requires its customers to verify their identities.
In this article, we will talk about MoneyGram’s ID verification.
When is ID Verification Required by MoneyGram?
MoneyGram ensures that its customers comply with the company’s terms of service and provide accurate information whenever needed. MoneyGram may require ID verification from its customers at many stages or scenarios.
Most of the time ID verification or authentication is required for security and to prevent fraud. If the company notices any unusual pattern in a transaction there is a possibility that the company may ask for ID verification. ID verification is also required if a certain transfer is blocked or halted and the sender is asked to provide additional information so that his identity is authenticated.
In the MoneyGram Anti-Money Laundering document, the concerned department is advised to verify the consumer ID and It is advised to verify the consumer’s identity by viewing a valid State-issued photo identification that contains the person’s name and address, such as a valid driver’s license, or a passport.
Why Is ID Verification Required?
ID verification is required to make sure that the person himself is making this transaction and no one else is scamming him. Identity verification keeps the person’s transactions safe and allows him to make transactions without any struggle.
In 2017, Mitek, a leading ID verification solutions company announced that MoneyGram is now using Mobile Verify to meet Anti-Money Laundering (AML) requirements for identifying individuals who send and receive funds.
How long does MoneyGram ID verification take
MoneyGram has a very smooth process of ID verification, in some countries the customer can even verify his ID online through a video, or he can upload his ID on the account or can visit any of the agent locations and provide the required information. The ID and account verification may take from 5 minutes to 4 working days.
What Happens If ID Verification Fails?
MoneyGram retains the right to take any legal actions that are necessary or suitable to verify the information that its users provide. If a customer refuses to provide the requested information or fails to do so, or if the company is unable to satisfactorily verify the information or the customer’s identity then, MoneyGram reserves the right, in its sole discretion, to decline a User Account, to deny access to the Services, or to stop access to or use of any previously-established User Account or any Services at any time.
Additionally, legal actions both civil and criminal may be taken against you.
How to Check if the ID is Required on a Transfer?
Whenever MoneyGram needs to get information from you or requires any additional information in such a case, you’ll receive an email, you can check the status online or you can get in touch with MoneyGram customer support.