Yes, MoneyGram applies extra fees when transferring money through the Beans app. Because MoneyGram is a third party, we can’t eliminate their fees.
These are the fees regulated by MoneyGram:
Between 1 USDC and 99 USDC, the fee in USD is $2.
Example: If you transfer 50 USDC, the fee is $2.
Between 100 USDC and 999 USDC, the fee in USD is $2 + 1% of the transaction.
Example: If you transfer 120 USDC, the fee is $2 + (1% of 120 = 1.20) $1.20 = $2.20
Between 1000 USDC or higher, the fee in USD is $10 + 0.5% of the transaction.
Example: If you transfer 2500 USDC, the fee is $10 + (0.5% of 2500 = 12.50) $12.50 = $22.50.