How to work with US dollars (USD) in MoneyGo
MoneyGo is an international electronic payment system that offers users a digital wallet for performing various operations in US dollars, including creating multi-currency accounts. MoneyGo serves as an alternative to mobile and online banking, enabling fast and low-cost payments and currency transfers.
The international company MoneyGo was registered in 2022, and its main area of activity is currency exchange for businesses. In addition to the US dollar, MoneyGo supports euros, Kazakhstani tenge, Russian rubles, and many other national currencies, as well as the cryptocurrency Bitcoin.
The MoneyGo service operates both as a web platform and as a mobile application. MoneyGo supports multiple use cases for US dollars (USD), including transfers, payments for services, and vouchers*. Users can purchase ready-made vouchers on the marketplace or generate their own.
* A voucher in MoneyGo is a digital payment code or certificate that represents a prepaid balance and gives the right to receive or credit a certain amount of funds within the system. It is like a "digital banknote" or a "gift card," but within MoneyGo. A voucher:
- is created for a specific amount (e.g., $50);
- exists as a code or record;
- can be transferred to another person;
- is activated (redeemed) and converted into money in the account.
How to send and receive US Dollars (USD) in MoneyGo?
It should be noted that deposits and withdrawals in MoneyGo are available only to residents of a limited number of countries. For example, the MoneyGo service is not available in the United States and European countries. It is mainly accessible in certain countries of Africa and the Middle East/Asia, such as Egypt, Turkey, Kenya, Ethiopia, and several others.
To perform operations in US dollars, you must have a registered and verified MoneyGo account as part of the KYC ("Know Your Customer") procedure.
You can register an account on the MoneyGo website if you are at least 18 years old. To do this, you need to fill out a form and provide the following information:
- Full date of birth;
- Wallet currency;
- Country of residence;
- Full name;
- Email address;
After entering the data, create and set a password to use to log in to your account later. After registering the account, you can add new currency accounts and delete unnecessary ones.
To verify a MoneyGo account and perform operations in US dollars (USD), you need to provide personal data (upload a selfie and a passport photo) and confirm your residential address using registration documents or utility bills.
You can fund your USD account in several ways:
- Using a bank card or mobile payments;
- Through cryptocurrency, including exchange services;
- Via P2P payments (direct exchange) through an extensive partner network, including the BestChange aggregator;
- Directly through payment systems such as Skrill, PayPal, Neteller, and others;
- In cash;
- Using vouchers.
It should be noted that the set of available funding methods depends on the user's region. If a required funding method in US dollars (USD) is not available in a specific region, you can use an exchange service to deposit funds into your MoneyGo wallet.
You can transfer or withdraw US dollars (USD) from a MoneyGo wallet directly via banking or payment services, or through partner exchange services. To withdraw USD, select the appropriate wallet, then choose a payment method—bank transfer, e-wallet, or exchange points.
After that, you will need to provide payment details or wait for the system to generate them if exchange points were selected as the withdrawal method. The process of depositing and withdrawing USD usually takes one minute.
From a security standpoint, the MoneyGo service supports multi-level protection using two-factor authentication, ensuring a high level of account security against hacking. The service also includes an automated fraud protection system.
MoneyGo fees and charges for USD transactions
According to the company, fees for currency operations in MoneyGo are among the lowest on the market.
There is no fee for receiving US dollars (USD). However, when transferring USD to other wallets or accounts, a fee of 0.5% of the payment amount is charged for verified users. If the account is not verified, the fee is slightly higher at 1.9% of the transfer amount. No additional fees are charged by MoneyGo for USD payments.
It should also be noted that unverified users are subject to certain limitations within the MoneyGo service. Before verification, users can transfer up to $500 per day and cannot withdraw US dollars to Visa or Mastercard cards or to third-party electronic wallets.