{"id":236972,"date":"2019-06-09T12:00:47","date_gmt":"2019-06-09T16:00:47","guid":{"rendered":"http:\/\/www.finder.com\/ca\/?p=236972"},"modified":"2026-06-10T16:39:39","modified_gmt":"2026-06-10T20:39:39","slug":"moneygram-money-transfers","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/international-money-transfers\/moneygram-money-transfers","title":{"rendered":"MoneyGram Review: Is It Competitive in 2026?"},"content":{"rendered":"

What is MoneyGram?<\/h3>

MoneyGram is an international transfer service that lets you send money to 200+ countries and territories in 136+ currencies. From Canada, you can send money abroad online or via the MoneyGram mobile app, with the option to pay with either a credit or debit card. Alternatively, you can visit a MoneyGram location near you to pay for your transfer with cash.<\/p>

You can send funds to your recipient\u2019s bank account, debit card or mobile wallet, or they can pick up the cash at their nearest MoneyGram location. Home delivery is also available in some locations.<\/p>

Is MoneyGram legitimate in Canada?<\/h3>

Yes, MoneyGram is 100% legit.<\/p>

It is registered with FINTRAC in Canada as a Money Services Business. It has also been in business for more than 80 years and has 17,000 agent locations across Canada.<\/p>

A closer look at the pros and cons<\/h3>
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Pros<\/h4>\n
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  • Send money just about anywhere.<\/strong> With support for transfers to 200+ countries and territories, MoneyGram lets you send funds to loved ones all over the world.<\/li>\n
  • Fast transfers.<\/strong> If you need to send money to someone urgently, a MoneyGram cash pickup transfer will be available for your recipient to collect in as little as 10 minutes.<\/li>\n
  • Huge global network.<\/strong> MoneyGram has a global network of 470,000+ locations, so you can send or collect money at branches all over the world.<\/li>\n
  • Choice of payment options.<\/strong> Pay with a debit or credit card, or visit a location to pay cash.<\/li>\n
  • Wide range of payout methods.<\/strong> With multiple payout options available, you can choose the method that is most convenient for your recipient.<\/li>\n
  • User-friendly mobile app.<\/strong> The MoneyGram mobile app is easy to use and has picked up plenty of 5-star user ratings.<\/li>\n <\/ul>\n <\/div>\n \n
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    Cons<\/h4>\n
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    • Exchange rate markup.<\/strong> You don't get the mid-market exchange rate when you send an international transfer with MoneyGram\u2014a markup applies. As a result, there are cheaper transfer apps out there.<\/li>\n
    • Watch out for fees.<\/strong> Unless you're a new customer, you will usually need to pay a transfer fee each time you send money.<\/li>\n
    • Costs vary.<\/strong> Exchange rate markups and transfer fees vary depending on where you send money. So while MoneyGram might be competitive for transfers to some locations, it could be an expensive option for other destinations.<\/li>\n
    • No e-Transfers.<\/strong> MoneyGram does not accept Interac e-Transfer as a payment method.<\/li>\n <\/ul>\n <\/div>\n <\/div>\n

      Alternatives<\/h3>