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MoneyGram vs. WorldRemit

Save time and money with our side-by-side comparison of big-name MoneyGram and digital provider WorldRemit.

Though you have many options for international money transfers, MoneyGram is among the best known. However, newer online startups like WorldRemit could offer a competitive edge of lower fees and stronger rates.

Compare MoneyGram to WorldRemit

Name Product USFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
MoneyGram  logo
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
WorldRemit  logo
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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MoneyGram and WorldRemit: How they work

MoneyGram

You can transfer money through MoneyGram either in person, online, using an app or over the phone. MoneyGram will convert and deliver your money to a bank account or for cash pickup at locations worldwide.

WorldRemit

WorldRemit conducts its business online. To open a free WorldRemit account, you’ll need to provide mobile number for both you and your recipient, as well as a copy of your government-issued ID. Once approved, WorldRemit converts your currency and sends it to your recipient, who can pick it up through a bank transfer, cash pickup or Mobile Money.

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Which offers lower fees?

MoneyGram

A number of factors that influence fees when you use MoneyGram: the country receiving the transfer, how you’re sending it and how your recipient will receive your funds. For example, if you send $500 to Mexico using a credit or debit card for cash pickup, you’d pay a $7 transfer fee, while sending $500 to Belgium using a credit or debit card for cash pickup would cost $31.

WorldRemit

Transfer fees for WorldRemit also vary depending on where you’re sending money, but the fee for most countries is $3.99. The method you can use to send money will depend on the country to which you’re sending it.

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Winner: WorldRemit

Although for both companies, what you’ll pay depends on the options you choose and your recipient’s country, WorldRemit’s fee structure is simple and transparent. For most transfers, WorldRemit’s flat $3.99 rate will be cheaper than your fee with MoneyGram.

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Which offers better exchange rates?

To understand who offers better exchange rates, you’ll need to first look at the mid-market rate. This is the true exchange rate that averages the buying and selling rate of a global currency — and the rate banks and transfer services use when they trade among themselves.

We’ll look at the rates that MoneyGram and WorldRemit offer compared to the mid-market rate.

MoneyGram

Depending on where you’re sending money, the exchange rate with MoneyGram could be 5% or more above the mid-market rate. This translates to big profits for MoneyGram — at your expense.

Let’s look at the example of a transfer to Australian dollars (AUD):

  • If the mid-market rate is 1 USD = 1.30 AUD
  • MoneyGram’s exchange rate could be 1 USD = 1.24 AUD

WorldRemit

WorldRemit takes a smaller margin than MoneyGram — sometimes less than 1% above the mid-market rate.

Using the same example of a transfer to AUD:

  • If the mid-market rate is 1 USD = 1.30 AUD
  • WorldRemit’s exchange rate might be 1 USD = 1.29 AUD

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Winner: WorldRemit

Competitive exchange rates make WorldRemit the clear winner here, putting money more money into your recipient’s pocket.

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Which is faster?

MoneyGram

Delivery speeds with MoneyGram vary by transfer option. In-person and phone transfers can be delivered in minutes, although at higher costs. MoneyGram’s cheaper options take two to four business days.

WorldRemit

Sending money by bank transfer typically takes one to three business days, although a few banks offer instant transfers. Sending money via Mobile Money or airtime top-up is available immediately.

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Winner: Tie

If you need to get your money there in a hurry, you might not mind the higher fees for MoneyGram to get it there instantly. However, WorldRemit’s Mobile Money and airtime top-up options won’t cost you an arm and a leg — and even its slower option could save you a day.

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Which offers more options?

Payment MethodsMinimum and maximum transfersDelivery methodsTransfer speedsCountries and currencies
MoneyGramBank account, credit or debit card, cashVaries by countryBank transfer, cash pickup, other options by location2–4 business days190+ countries and 45+ currencies
WorldRemitBank account, credit or debit card$1 minimum; maximum varies by countryBank transfer, cash pickup, Mobile Money, airtime top-upVaries from minutes to 3 days100+ countries
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Case study:$2,000 to Greece

Neal and his wife, Lydia, are moving to Greece. Neal wants to send $2,000 to Lydia, who’s already relaxing in Kelafonia, for a down payment on an apartment. Here’s what an online bank-to-bank transfer would like for this transaction with MoneyGram and WorldRemit.

MoneyGramWorldRemit
Transfer fee$25$4.99
Exchange rate1 USD = 0.90 EUR1 USD = 0.93 EUR
Transfer speed2–4 business daysWithin an hour
Total received1,777 EUR1,855 EUR

With WorldRemit, Neal saves $20 on transfer fees, and Lydia gets more than 50 extra euros in her pocket — in much less time.

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Bottom line

MoneyGram offers more flexibility in terms of transfer methods, but WorldRemit comes out on top when it comes to exchange rates, transfer fees and low-cost delivery speeds.

Ultimately, you’ll want to compare your options to find the service that best fits your specific needs.

Looking for more options?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 12 of 12
Name Product USFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Instarem  logo
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Wise logo
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
MoneyGram  logo
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Airwallex
Airwallex logo
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
OFX logo
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer  logo
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
Xe logo
24 hours
$0
Save your time and money with Xe Money Transfer for business.
OFX logo
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Currencies Direct  logo
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe logo
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer  logo
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct  logo
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Frequently asked questions