Consumer complaint received 2023-08-01
Company: MONEYGRAM PAYMENT SYSTEMS WORLDWIDE INC
State: MO
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
On XX/XX/XXXX I used MoneyGram to transfer money to a bank account. The transaction was processed under reference number XXXX. I received a text that the Transaction was completed and money was sent about XXXX on XX/XX/XXXX. Checked the receivers bank account and money was not available. Their site says it would be available in the account within hours. Next couple days go by and no money but they did take my money and could not tell me where it was {$950.00} which was needed for a mortgage payment that the receiver is now behind on because of this company. Contact MoneyGram, they verified the recievers account information with me and told me everything was correct but still could not tell me where my money was said that they could not cancel the transaction because it was already completed but they would open up an investigation but it would take up to 90 days I said this matter can not wait 90 days as its for a mortgage payment they claim they would escalate it. Called the receivers bank and they showed no record of an incoming transfer, asked MoneyGram for the fed reference number so that the bank could investigate and they would not provide it to me and it was not on the receipt for the transfer. XX/XX/XXXX ( today ) I reached back out to MoneyGram to let them know the money still is not there in the account, the rep today now tells me the funds were rejected by the bank because account information was incorrect ( it was not incorrect I had already previously verified this with them before ) I also pointed out I noticed on my transaction details on their site it says I processed transaction on XX/XX/XXXX which was correct but it was saying completion date XX/XX/XXXX how is that even Possible? Its like it was a fake receipt or something and they just took my money. After pointing that out the rep just abruptly canceled my transaction saying it will be refunded to me within 10 days and then closed the chat on me. I see nothing but hundreds of complaints online about them saying people will receive refunds and they dont get them in the 10 days as promised I want this noted because I want my money back this is not a game and has caused someone to be behind on their mortgage. Their playing with peoples money. I look at the email I got today about the transaction being canceled and it isnt even correct it says that the Transaction is canceled and will be refunded but listed the receive method as cash pickup and it was not a cash pickup it was an attempt to transfer to a bank account how can you even get that wrong? Seems like they are fraudulent and taking peoples money and holding it for whatever reason but it needs to be investigated and I want my money returned to me in the promised time frame. Literally all the complaints online sad similar to mine I dont know how this company is still able to conduct business and deal with peoples money this is so unacceptable.

Company response to consumer: Closed with explanation