Exhibit 12.1

MoneyGram International, Inc.
Calculation of Ratios

	Year Ended December 31,
	2004		2003		2002		2001		2000
	(Dollars in thousands)
Earnings
Pretax income from continuing operations (1)		89,020		88,171		86,687		75,479		59,951
Fixed charges		5,904		11,287		17,116		21,594		20,623
Total earnings		94,924		99,458		103,803		97,073		80,574
Fixed Charges
Interest expensed (2)		5,573		9,857		15,212		20,329		19,584
Amortization of debt expense, premium and discount		155		1,088		1,572		1,007		795
Estimated interest component of rent expense		176		342		332		257		244
Total fixed charges		5,904		11,287		17,116		21,594		20,623
Preferred dividend requirement		—		572		1,141		1,137		1,134
Total fixed charges and preferred dividend requirement		5,904		11,859		18,257		22,731		21,757
Ratio of earnings to fixed charges		16.08		8.81		6.06		4.50		3.91
Ratio of earnings to fixed charges and preferred dividend requirements		16.08		8.39		5.69		4.27		3.70

(1)	Pretax income from continuing operations for 2004 includes $20,661 of expense related to the redemption of preferred stock and debt in connection with the spin-off.
(2)	Interest expensed through June 30, 2004 relates to Viad Corp’s long-term debt prior to the June 30, 2004 spin-off. Interest expensed in 2004 for MoneyGram’s long-term debt totaled $2,448.