Money Mart is a financial services company that provides a variety of offerings including payday loans, check cashing and money transfers. To help customers send or receive money, the company has teamed up with Western Union. Participating Money Mart stores have a Western Union counter enabling you to easily issue or pick up domestic and international transfers.
What Are Money Mart’s Transfer Fees?
For an exact quote regarding money transfer fees, you'll need to visit your local Money Mart store.
- Western Union sets the fees for money transfers and you may end up paying a fee somewhere around 5-10%.
- On international transfers, Western Union does make money from currency exchange, which is reflected in the total price you’re required to pay for your transfer.
How Fast Are Money Mart's Transfers?
Depending on the type of transfer, processing speeds may vary. In general, transfers may take one to three business days.
- Domestic transfers are often completed within one or two business days. When using expedited services such as Quick Collect, the transfer may be completed in a matter of minutes.
- International transfers are often completed within two to three business days.
Money Mart's Backstory
Money Mart is owned by Dollar Financial Group, Inc., which has 1,300 retail locations worldwide, over 10 million customers and an A+ rating with the BBB. The global corporate headquarters for Dollar Financial Group are located in Pennsylvania. Money Mart is connected to nearly 500,000 Western Union agent locations in over 200 countries and territories throughout the world.
Who Can Benefit From Money Mart?
Money Mart was designed to solve cash emergencies for customers who don’t want to mess with traditional banking. Whether you don’t have a bank account or don’t like the idea of making transfers online, visiting a Money Mart store may be a good option for you as long as there’s one situated nearby. Since Money Mart allows you to send and receive domestic and international transfers while also cashing checks and exchanging gift cards for money, the company may be a one-stop solution depending on your needs.
What Are The Advantages and Disadvantages Of Money Mart?
This is what we love about Money Mart:
- Domestic and international transfers can be made.
- Storefronts are located around the globe.
- You don’t need a bank account to make a money transfer.
- Money Mart offers additional financial services that may be of interest.
What We do not Like About Money Mart:
- You have to pay in cash for a money transfer.
- Money Mart doesn’t offer online transfers.
- Some competitors offer lower rates.
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