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Alternatives to MoneyGram

Check out our handpicked list of MoneyGram alternatives to best customize your transfer.

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By

Zak Killermann

Updated

MoneyGram is one of the largest international money transfer services in the world with service to almost 200 countries and territories through more than 350,000 agent locations. But because of MoneyGram’s low maximum transfer cap and its varying fees, you may want to take your business elsewhere.

Use this list of alternatives to MoneyGram to see what other companies might bring you closer to your ideal transfer.

PROMOTED

Xe

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Unlike MoneyGram and its maximum limits, Xe allows you to transfer as much as you want. Xe also has competitive exchange rates, low fees and service to more than 170 countries worldwide.
Pros
  • Competitive exchange rates with low fees
  • Max transfer is $500,000 per transaction
  • Create currency pair alerts
Cons
  • Doesn't accept cash or card payments
  • Exchange rates not displayed until you sign up for an account
  • Turnaround time can take up to 4 business days
Pay ByCredit card, Debit card, Bank transfer, Wire transfer
Receiving OptionsCash pickup location, Bank account
Available CurrenciesAED, ALL, AMD, ARS, AUD, AZN, BAM, BBD, BDT, BGN, BHD, BND, BOB, BSD, BTN, BWP, CAD, CHF, CLP, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MGA, MKD, MUR, MWK, MXN, MYR, MZN, NAD, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SBD, SEK, SGD, SRD, THB, TJS, TND, TOP, TRY, TTD, TWD, TZS, UGX, VND, VUV, WST, XCD, XPF, ZAR
PROMOTED

WorldRemit

WorldRemit's global coverage isn't as extensive as MoneyGram's, but its exchange rates are typically more competitive. Both companies offer low transfer maximums and fees that depend on where and how much you're sending.
Pros
  • Bank-to-bank transfers, cash pickups and mobile top-ups available
  • Pay by bank account, debit or credit card
  • Transparent fees and exchange rates
Cons
  • Small daily maximum transfer amount of $9,000
  • Requires a government-issued ID
  • Inconsistent markups of 1% to 4% on the mid-market rate
Pay ByCredit card, Debit card, Bank transfer, Apple Pay
Receiving OptionsCash pickup location, Bank account, Mobile wallet, Home delivery, Prepaid phone credit
Available CurrenciesAED, ALL, ARS, AUD, BDT, BIF, BOB, BRL, BWP, CAD, CLP, CNY, COP, CRC, CVE, DOP, EGP, ETB, FJD, GBP, GHS, GMD, GNF, GTQ, HNL, IDR, INR, JMD, KES, KHR, LAK, LKR, MAD, MGA, MWK, MXN, MYR, MZN, NGN, NPR, NZD, PEN, PHP, PKR, PYG, RWF, SGD, SRD, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XCD, XOF, ZAR, ZMW, SLE
PROMOTED

Wise (TransferWise)

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Wise uses mid-market exchange rates and has a sliding fee schedule that depends on the amount you are sending. It offers significantly higher sending limits than MoneyGram.
Pros
  • Guaranteed better exchange rates than most competitors
  • Easy to sign up and transfer money within minutes
  • High maximum transfer limits and daily caps
Cons
  • Sliding fee schedule, the more you send, the higher the fee
  • Social Security number (SSN) required to send from the US
  • Bank-to-bank transfers only
Pay ByCredit card, Debit card, Bank transfer, SWIFT, Wire transfer, iDeal, Trustly, SOFORT, POLi, Educational transfers from BRL, PayPal
Receiving OptionsBank account, Alipay (China only), Amazon, Stripe, Upwork, Etsy, GOAT
Available CurrenciesAED, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BMD, BND, BOB, BRL, BSD, BTN, BWP, BYN, BZD, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ETB, EUR, FJD, FKP, GBP, GEL, GGP, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, IMP, INR, ISK, JEP, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRU, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SHP, SLL, SRD, SVC, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VND, VUV, WST, XAF, XCD, XOF, XPF, ZAR, ZMW
PROMOTED

CurrencyTransfer

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Although CurrencyTransfer has a smaller network than MoneyGram, its best-price guarantee and lack of transfer fees make it a solid alternative for the markets both companies serve.
Pros
  • Typically offers stronger exchange rates than MoneyGram
  • No fees for money transfers, no matter the amount
  • Users can send to multiple recipients after locking in a guaranteed rate
Cons
  • Limited sending and receiving options
  • Almost always restricted to bank-to-bank transfers
  • Proof of ID may be required before transferring
  • Can only send and receive on business days
Pay ByBank transfer
Receiving OptionsBank account
Available CurrenciesAED, AUD, BGN, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MUR, MXN, NOK, NZD, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR
PROMOTED

Instarem

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Instarem offers the mid-market exchange rate on some currencies at certain times, but isn't transparent about what these are. You can often find promo codes to get money off your first transfer.
Pros
  • Transparent fees
  • Same-day transfers for most supported currencies
  • Loyalty points system that can be redeemed against transactions
  • Send to over a dozen Filipino e-wallets
Cons
  • Transfers must be sent to a bank account outside of Philippines
  • Fewer supported currencies than many competitors
Pay ByCredit card, Debit card, Bank transfer, Wire transfer, ACH/Direct Debit
Receiving OptionsCash pickup location, Bank account, Mobile wallet, Alipay (China only)
Available CurrenciesAUD, EUR, GBP, HKD, INR, MYR, SGD, USD
PROMOTED

OFX

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OFX has no maximum limit, which makes it a good option when sending large amounts at once.
Pros
  • No maximum transfer limit
  • Hedging options such as forward contracts and limit orders
  • Special product for business transfers
Cons
  • Must transfer to and pay with a bank account
  • High minimum transfer amount of $1,000
  • No cash pickup options
Pay ByBank transfer
Receiving OptionsBank account
Available CurrenciesAUD, AZN, BGN, BHD, BND, CAD, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, KRW, KWD, LKR, MAD, MGA, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VND, VUV, WST, XOF, XPF
PROMOTED

PayPal

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In addition to providing payment support for online purchases, PayPal also offers overseas transfers to more than 200 countries and territories. PayPal is similar to digital banking services in rates, though, making it better to use only in specific situations.
Pros
  • Clear transfer fees starting from $0.99
  • Combine business and personal transfer services with your PayPal account
Cons
  • Fees increase with amount transferred
  • Credit card fees incur additional fees
  • Recipient needs a PayPal account
  • Fixed exchange rate at 2.5% above mid-market is higher than most on this list
Pay ByCredit card, Debit card, Bank transfer
Receiving OptionsBank account, Mobile wallet
Available CurrenciesAUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, MYR, NOK, NZD, PHP, PLN, RUB, SEK, SGD, THB, TWD, USD

TransferMate

TransferMate also has a large range of currencies you can send to. Although it typically focuses on business transfers, it allows personal transfers for orders over $1,000.
Pros
  • No maximum sending limit
  • Same-day transfers available through the SWIFT network, sometimes as short as 10 minutes
  • Small margin added on to the mid-market rate for transfers
Cons
  • Flat $10 fee for transactions under $1,000
  • Must pay for transfer through wire transfer or ACH, cannot use debit or credit card
Pay ByBank transfer
Receiving OptionsBank account, Prepaid phone credit
Available CurrenciesAED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BMD, BND, BOB, BRL, BSD, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUP, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IRR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SRD, SVC, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW, STD, MRO

Still looking for other 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.

Alternatively, learn more about MoneyGram in our review.

1 - 12 of 12
Updated regularly
Name Product USFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Instarem
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.
Go to siteView details
Wise (TransferWise)
Wise logo
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Go to siteView details
MoneyGram
MoneyGram logo
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Go to siteView details
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.
Go to siteView details
OFX International Money Transfers (Business)
OFX logo
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
Go to siteView details
CurrencyTransfer for Business
CurrencyTransfer logo
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
Go to siteView details
Xe Money Transfer for Business
Xe logo
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Go to siteView details
OFX
OFX logo
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to siteView details
Currencies Direct (business)
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.
Go to siteView details
Xe
Xe logo
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
Go to siteView details
CurrencyTransfer
CurrencyTransfer logo
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Go to siteView details
Currencies Direct
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.
Go to siteView details
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