MoneyGram money transfers review March 2019 | finder.com

MoneyGram money transfer review

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Fast, secure money transfers to 200+ countries and territories worldwide.

finder.com’s rating: 3.0 / 5.0

★★★★★

How’d we get our score?

Fees & rates: 2.0 / 5.0
Speed: 5.0 / 5.0
Services: 3.0 / 5.0
User experience: 2.0 / 5.0

MoneyGram has flexible payment options and more than 350,000 agent locations around the world, but that convenience comes at a cost — unfavorable exchange rates and transfer fees.

Product NameMoneyGram International Money Transfers
Min. Transfer AmountUSD 1
Max. Transfer AmountUSD 6,000
Transfer Methods
Online, Cash Transfer, Agent, , International Money Order, ...
Transfer Options
Transfer Speed
Minimum transfer time
1 day
Customer Service
Phone, Email
Available CurrenciesAED, AFN, ALL, AUD, BND, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, IRR, JPY, KRW, KWD, LKR, LRD, LYD, MAD, MGA, MXN, MYR, NGN, OMR, PEN, PGK, PHP, PKR, PLN, SAR, SBD, SCR, SDG, SEK, SGD, THB, TOP, TRY, TWD, USD, VND, VUV, WST, XCD, XOF, XPF, ZAR
Online Transfer FeeUSD 4.99
Exchange Rate UpdatesReal time

Transferring money online with MoneyGram is surprisingly uncomplicated. In addition to the typical transfer methods, it also offers home delivery as well as the option to send money to a debit card or mobile wallet.

How much does it cost to send money with MoneyGram?

MoneyGram makes its money from transfer fees and by padding the exchange rate for a profit.

MoneyGram’s transfer fees vary depending on where you are sending your money, how much you are sending and your payment method. If you fund a transaction using your bank account, the fees you pay will typically be lower than if you pay with a credit or debit card.

For example, an online transfer of $1,000 to Mexico for cash pickup could incur a fee of $4 if sent from your bank account, or $15 if you pay with your credit or debit card. Sending the same amount to India could attract a $6 fee for online transfers or $10 for credit or debit card transactions.

The best way to determine how much your transaction will cost is to use the Estimate Fees feature on MoneyGram’s website.

Calculate your transfer with MoneyGram

Choose your currency and desired transfer amount (maximum $6,000). Exchange rates change frequently, so visit MoneyGram’s site to get a final quote.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 1 day USD 8.00 0.864 EUR 4,315 Easily transfer cash to more than 350,000 locations around the world. Go to site Show details

Compare up to 4 providers

What are MoneyGram’s exchange rates?

Depending on where you’re sending your transfer, how much you’re sending and how you’re paying for it, your exchange rate could be 5% above the mid-market rate. If you’re sending a large amount of money, this could mean hundreds of dollars that go straight into MoneyGram’s pockets.

MoneyGram gives you the opportunity to confirm your exact exchange rate before initiating your transfer.

Compare MoneyGram’s rates with those offered by banks and other transfer companies to see how its services stack up against the competition.

What types of transfers can I make with MoneyGram?

Sending Methods

MoneyGram makes it possible to send money using the following methods:

  • Online. Easily transfer money online.
  • In person. Transfer money at any one of MoneyGram’s agent locations.
  • MoneyGram Sendbot. Send money using the Facebook messenger app.

Receiving Methods

There are also multiple options when it comes to receiving funds. Money can be:

  • Picked up from one of the roughly 350,000 MoneyGram locations around the globe.
  • Deposited directly into the receiver’s bank account.
  • Deposited into the receiver’s mobile wallet.
  • Deposited into an inmate’s county, state or federal correctional account.

Find a MoneyGram location

Pros and cons of using MoneyGram

Pros
  • Global provider. MoneyGram has more than 350,000 agent locations in more than 200 countries and territories — and more than 30,000 locations in the US.
  • Transfer options. From online or in-person transfers to collection via cash pickup or deposit into a bank account or mobile wallet, MoneyGram offers a wide range of transfer options.
  • Large number of countries and currencies supported. MoneyGram allows you to send money to 197 countries and territories in a large range of currencies.
  • Fast. With same day service available at many locations (subject to local holidays and other circumstances), your money can arrive at its destination in as little as 10 minutes during normal business hours. Note that cash is available to recipients sooner than if you send it to their bank account, which can take a day.
Cons
  • Low maximum amount. MoneyGram only allows you to transfer a maximum of $6,000 online, so you may need to look elsewhere if you want to transfer more than this amount.
  • Fees.As with most services, MoneyGram international money transfers do incur a fee. Fees can be higher when you use a credit or debit card to pay. For example, if you wish to send $5,000 from a US agent location to a friend in Australia picking up the money at an agent location, your transfer fee will be $169. There are providers out there that don’t charge a fee.
  • Currency exchange. When sending MoneyGram international money transfers from the US, you typically must send the money in US dollars and do not have the option of sending it in a foreign currency. Depending on the recipient’s country, they can pick it up in US dollars or local currency. Local exchange rates may vary.

How does MoneyGram compare to other services?

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days USD 0.00 0.875 EUR 4,373 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1 1 - 2 days USD 7.00 0.877 EUR
4,380
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 3.99 0.876 EUR 4,374 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
USD 1,000 1 day USD 0.00 0.874 EUR 4,369 Exclusive exchange rate discounts
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 0.875 EUR 4,373 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 50 1 - 2 days USD 25.00 0.874 EUR 4,347 Simple, zero-margin exchange rates, plus earn loyalty points on sign up, referral and every transaction. Go to site Show details

Compare up to 4 providers

The registration and transfer process

Sending money with MoneyGram is easy. All you need to do is provide your recipient’s name, how much you wish to send and where the money will be sent to. Then you set up an account and pay for the transfer and any associated fees.

If you’re making a transfer, you can do so with cash in person at a MoneyGram branch, or online.

Cash transfers
To conduct a cash transfer with MoneyGram first find a MoneyGram agent and bring some identification, including a passport or driver’s license, and then complete the money transfer form. You’ll then need to contact the recipient and give them the reference number.

Online transfers
Sending money to a bank account overseas with MoneyGram is also simple. All you need to do is log in to your account and specify the amount you’re transferring, and then accept the quote.

Then you’ll need to send MoneyGram the money, and they’ll send it to the recipient. Money is usually transferred to the recipient within one to two days of sending it to MoneyGram.

Tracking your transfer

MoneyGram offers two options for tracking the status of a transfer. The first option is to log in to your online account and view your transaction history. If you are the person designated to receive the transaction, you can use the transaction authorization number or reference number and use MoneyGram’s online Track a Transfer tool.

If you ever need help with a transaction, MoneyGram’s online FAQ section may have the answer you need. 24-hour phone support is also available if you’d like to speak to a customer service rep, while email support is also an option.

What do I need to send money through MoneyGram?

Whether in person or online, you’ll need:

  • Your full name and contact information. If you’re transferring money from your bank account, you’ll also need your banking information.
  • Government-issued ID, such as a driver’s license or passport.
  • Your recipient’s name and contact information. If you’re transferring to a bank account, you’ll also need their bank name, SWIFT code and account number.
  • A valid method of payment. Online you can pay by bank account, credit card or debit card. In person, you can also pay with cash.

If your recipient will be picking up cash in person, let them know to bring along a required ID.

Steps to transferring your money online with MoneyGram

  1. Go to MoneyGram’s website and click Start Sending Money.
  2. Add your recipient’s details.
  3. Choose your method of payment and confirm your fees. Click “Next.”
  4. Fill in your banking and contact information.

What happens next?

  • Cash pickup within minutes. Your recipient can pick up your transfer at a MoneyGram location shortly after it’s complete during normal business hours. For bank account transfers, the money is available within 24 hours.
  • Track your transfer. With the Track a Transfer tool, you can use your last name and confirmation number to follow your transaction through to receipt.
  • Contact customer service. If you need help, call 24/7 toll-free at 800-666-3947 or complete a help form online.
  • Canceling a transfer. To cancel a transfer, log in to your account and view your transaction history. There is an option to cancel specific transfers on the Transaction Details page.

Bottom line

MoneyGram’s wealth of transfer options and its huge global network make it an effective solution for international money transfers. The next time you need to send cash overseas, consider the benefits, fees and features of MoneyGram’s international money transfer options.

It’s also a good idea to compare MoneyGram’s services with those of other providers to ensure that you can save money on your next international funds transfer.

Frequently asked questions about MoneyGram

Shopping for an alternative? Compare these services to Moneygram for sending money overseas.

Methodology

Our team analyzes money transfer providers offering services in the US — from big names to digital upstarts. We rank rates and fees, speed, services and user experience for:

  • TransferWise
  • XE
  • OFX
  • WorldRemit
  • Currencies Direct
  • Western Union
  • RIA Money Transfer
  • MoneyGram
  • Remitly
  • Payoneer
  • Remit2India
  • Xoom
  • PayPal

Learn the details of our methodology and scoring.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

TransferWise

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

CurrencyTransfer

Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.

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48 Responses

  1. Default Gravatar
    JuniorMarch 22, 2019

    How long can the money sent to me stay online if I don’t pick it up after 24 hours due to my busy schedule and hoping I can go to bank to pick it 3 days after the money was sent from USA to Nigeria?

    • finder Customer Care
      JeniMarch 23, 2019Staff

      Hi Junior,

      Thank you for getting in touch with Finder.

      If cash pickup, once the transferred money becomes available, you may get it at any time even after 24 hours after it was sent. If it is transferred to your bank account, it will be in your account until withdrawn.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    EricMarch 18, 2019

    How long does it take to receive MoneyGram in Nigeria now?

    • finder Customer Care
      JoshuaMarch 18, 2019Staff

      Hi Eric,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      After the money transfer is approved, you should be able to receive your money as early as ten minutes. Moreover, the speed of your money transfer may also be affected by operating hours, the availability of money, laws or regulations of Nigeria, and compliance requirements.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  3. Default Gravatar
    JohnFebruary 4, 2019

    My uncle sent me money from Italy, through Moneygram and I tracked the transaction. I was told the money is available for pick up but getting to the bank I was told that the transaction is not okay. I tracked it again in the presence of the agent, still it shows transaction approved and available. I want to know, must I wait after 24 hours before I’ll be able to pick up the money? I was told that Moneygram has changed the system and I have to wait until after 24 hours of sending.

    • finder Customer Care
      CharisseFebruary 5, 2019Staff

      Hi John,

      Thanks for reaching out to finder.

      Timing of funds availability depend on the destination country and is subject to banking hours and compliance with regulatory requirements. For bank account transfers through Moneygram, the money will usually be available within 24 hours.

      If the money is still not available after 24 hours, contact Moneygram directly so they can assist you further.

      I hope this helps.

      Cheers,
      Charisse

  4. Default Gravatar
    OlufemiJanuary 9, 2019

    Hello, my uncle make use of the MoneyGram to send to me money from Italy and the funds have been on processing when I tracked it. How long will it take to be available?

    • finder Customer Care
      JoshuaJanuary 9, 2019Staff

      Hi Olufemi,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      The money should be available within minutes after the transaction has been completed. However, if your uncle made a bank transfer, it may take 1-2 business days.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  5. Default Gravatar
    DmitriyDecember 5, 2018

    Hello. I have transfered the money from US to Lithuania. How long money can be on hold before pick up? Thank you

    • finder Customer Care
      nikkiangcoDecember 11, 2018Staff

      Hi Dmitry,

      Thanks for getting in touch! The minimum transfer speed of Moneygram is one day and the money is typically ready for pickup in as little as 10 minutes after the transfer is submitted subject to operating hours, availability, local laws/regulations and compliance requirements. You can check the transfer status by logging in to your Moneygram account on the MoneyGram website. Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  6. Default Gravatar
    KevNovember 30, 2018

    What is the maximum I can send using the post office in UK.

    • finder Customer Care
      nikkiangcoDecember 6, 2018Staff

      Hi Kev,

      Thanks for reaching out! The Moneygram doesn’t show the maximum limit of sending via Post office, however, it notes, “If you are sending £800 or more, you MUST to upload an image of the ID** used during the transaction to id.moneygram.com – you will only need to do this once.”

      Hope this helps and feel free to reach out again if you have further questions.

      Best,
      Nikki

  7. Default Gravatar
    HasanNovember 26, 2018

    Please, can someone reply to me about the delay of transfer money?I need money urgently for use.

    • finder Customer Care
      JhezelynNovember 27, 2018Staff

      Hello Hassan,

      Thank you for your comment.

      Please be advised that you have reached finder, and not Moneygram directly. I understand that you want to know what’s the delay in receiving your money, we suggest that you directly get in touch with a MoneyGram support so they can track it for you.

      You can also track your transfer through their website.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  8. Default Gravatar
    JamesNovember 23, 2018

    Is there any holiday in USA Today? Just because my uncle wants to send me money today and he said the money gram is not allowing him to send money to Nigeria.

    • Default Gravatar
      joelmarceloNovember 24, 2018

      Hi James,

      Thanks for leaving a question on finder.

      To answer your original question, yes there was a holiday in the US yesterday and it is Thanksgiving. He should be able to use Moneygram to send money to Nigeria. You can click on this link to compare from providers who can also send money to Nigeria so you can weigh your options.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

  9. Default Gravatar
    RemmyOctober 31, 2018

    Does MoneyGram have expired transfers when the receiver is delayed to collect money for about a month from the day money sent to him?

    • finder Customer Care
      JhezelynOctober 31, 2018Staff

      Hello Remmy,

      Thank you for your comment.

      If a Transfer to an individual Receiver to be collected in cash at a MoneyGram Location and the Transfer Amount has not been collected within ninety (90) days, Moneygram will treat the Transfer as no longer capable of execution which they call as an expired transfer. If it’s still within 90 days, you’re still able to withdraw the funds. If you become aware that a Transfer Amount has not been collected, you can contact them.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  10. Default Gravatar
    ShortyOctober 23, 2018

    What does it actually means when is say’s that consumer has reached transaction limit and how long will it take before another transaction can be completed ??

    • finder Customer Care
      AshOctober 23, 2018Staff

      Hi Shorty,

      Thank you for reaching out to us.

      The transaction limit is the allowable amount that you can send every transaction or 30-day period. Your limit will refresh every after 30 days wherein the count will start from the very first day that you made the transaction.

      I hope this helps.

      Please do not hesitate to reach out again to us if you have additional questions that you may need assistance with.

      Cheers,
      Ash

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