The benefits of money transfers by MoneyGram: there is no need to open a checking account when implementing the transfer. In due time MoneyGram separated from the Western Union and became an independent brand. Very intensive and focused approach has helped MoneyGram to grow business at a rapid pace and establish MoneyGram as a global player in the marketplace. The Global Funds Transfer segment is the primary segment of MoneyGram, providing money transfer and bill payment services to consumers, who are often unbanked or underbanked.