$1 Fee for MoneyGram Customers Sending Money from Korea Post Locations

MoneyGram launched a promotion for customers transacting at Korea Post locations. From July 3 through July 28, the fee for sending any amount of money to any of 200 countries and territories where MoneyGram operates is just $1, subject to any exchange rate that may apply.

“We launched this special promotion to celebrate the expansion of MoneyGram’s partnership with Korea Post. Thanks to this collaboration, we are able to offer our customers a convenient option to send and receive money at additional nearly 2,600 locations in the country,” said Yogesh Sangle, MoneyGram’s head of Asia Pacific. “Network expansion is one of the key pillars of our strategy so that our customers in urban and rural areas are financially connected with their friends and family worldwide.”

According to the World Bank data, South Korea is important remittances send market with an estimated $6.3 billion sent from the country mainly to China ($4.1 billion), Vietnam ($561 million) and the Philippines ($213 million).

To send money from a Korea Post location, customers have to complete a simple form and show a photo identification document. The funds will be ready to collect in any of 350,000 MoneyGram locations worldwide in as little as 10 minutes, subject to agents’ operating hours and compliance with regulatory requirements.