Anyone know if MoneyGram or Western Union Report on Credit?

[Anonymous]

Im just curious if either of these companies report on your credit when you send money.

[Anonymous]

No, they don't.

[Anonymous]

So if I send someone money, and the agent screws up, and its over my limit, and the bank does not approve the transaction do I have anything to worry about? The agent added a "0" to my transaction.

[pizzadude]

I would assume in that if they tried to send more money than was available in your account that they would just cancel the transaction rather than over drafting your bank account. But to be certain you should check with your bank and also with the money transfer company as well.

If if was an error on their part then you should not be held responsible.

[Anonymous]

Ther error was noticed when the receiver was told theres an extra "0". All of the money was cashed. Im not sure how this happened but its only pending on my card at the limit. Hopefully I wont be held responsible and can recover the extra funds through the receiver.

[Anonymous]

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@Anonymous wrote:

Ther error was noticed when the receiver was told theres an extra "0". All of the money was cashed. Im not sure how this happened but its only pending on my card at the limit. Hopefully I wont be held responsible and can recover the extra funds through the receiver.

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I would contact the bank immediately about it, even if it's Western Union or Moneygram's screwup, I'm sure they'll try to blame it on you if you signed for the receipt. I'd call the bank and give them all the details NOW instead of waiting for the charge to go completely through.

[Anonymous]

Oh man you are so right. Since they gave the person you sent the money to, the cash.....wait, did you know that person? Why did he/she take it if they were told there was an "extra" zero?

You may be in for a big fight on this one and i would contact really really quickly. Western union may be at fault technically, but unless you have a reciept from them showing the actual correct amount, well they will say you didnt stop it, and the person you sent the money to didnt stop it either.

Good luck, i think this could be a tough one for you.

[ibmrad7]

No they dont. But every service has a preset limit of foreign transfers.

 For example, the service I use limits me to 10000$ max each account for a 12 month period.

[Anonymous]

Just an update, the pending charge has been removed after calling the bank. MoneyGram terminated my account claiming that im a risk. Small price to pay considering thousands were on the line. I guess this would be a loss on MoneyGrams part but they are the ones who messed up.

[Anonymous]

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@Anonymous wrote:

Just an update, the pending charge has been removed after calling the bank. MoneyGram terminated my account claiming that im a risk. Small price to pay considering thousands were on the line. I guess this would be a loss on MoneyGrams part but they are the ones who messed up.

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You're a risk? I'd say any financial institution that 'accidentally' adds an extra zero to a transaction is a serious risk. Maybe they should look in the mirror.