MoneyGram money transfers review July 2018 | finder.com

Review: MoneyGram international money transfers – July 2018

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Fast, flexible 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

If you need a quick, easy way to transfer money to friends or family overseas, MoneyGram can help. Specializing in international money transfers, MoneyGram has more than 350,000 agent locations around the world — over 30,000 in the United States alone.

Money transfers with MoneyGram are fast and secure, with multiple sending and receiving options. But you won’t get the best exchange rate, and watch out for 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
Banking PartnerMoneyGram - US
Customer Service
Phone, Email
Available CurrenciesAED, AFN, ALL, AUD, BND, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, 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.

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.

Compare MoneyGram to other money transfer services

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 0.846 EUR 4,229 Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
USD 1 Within an hour USD 3.99 0.841 EUR 4,200 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 100 3 - 5 days USD 0.00 0.848 EUR 4,242 Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000. Go to site Show details
USD 1,000 1 day USD 0.00 0.843 EUR 4,216 Exclusive exchange rate discounts
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
USD 1 3 - 5 days USD 50.00 0.852 EUR
4,216
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details

Compare up to 4 providers

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 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.

Pros and cons of using MoneyGram

Pros
  • Global provider. MoneyGram has more than 350,000 agent locations in more than 200 countries.
  • 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 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. 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.

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

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

What happens next?

  • Cash pickup within minutes. Your recipient can pick up your transfer at a MoneyGram location shortly after it’s complete. 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 1-800-666-3947 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

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
  • World First
  • HiFX
  • 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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Adrienne Fuller

Adrienne Fuller leads the publishing team at finder.com. She has one goal: to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. When she's not helping folks save money, she's hiking with her two Catahoulas around her home in San Diego.

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16 Responses

  1. Default Gravatar
    MyJune 29, 2018

    My mother sent money for me through a friend. Friend has no I.d. Can mother change recipient?

    • finder Customer Care
      joelmarceloJune 29, 2018Staff

      Hi there,

      Thanks for leaving a question on finder.

      You have the right to cancel a remittance transfer for a full refund, including any fees paid to MoneyGram, as long as you do so within a half hour of sending it. If you suspect fraud or have another reason to cancel a transaction that hasn’t yet been picked up, call MoneyGram’s customer care center at 1-800-926-9400. She will have to cancel the current transaction and initiate a new transaction to the correct name.

      Hope it helps,
      Joel

  2. Default Gravatar
    ronMay 30, 2018

    Walmart (my local moneygram kiosk) will not let me send more than $ 999.99 at a time to Peru. Why ??

    • finder Customer Care
      joelmarceloMay 31, 2018Staff

      Hi Ron,

      Thanks for leaving a question on finder.

      Walmart has recently changed their terms and conditions in sending to Peru. There are other ways in sending funds to Peru without a limit. OFX is one of the money transfer providers that does not have transfer limits to Peru. To weigh your options, please click HERE.

      Cheers,
      Joel

  3. Default Gravatar
    JojoMay 2, 2017

    Hi. I want to transfer money from visa debit card to a foreign country, so that. my friend can pick it up in another country. is it possible my money gram? and 2nd question, can a different debit card send the money to the same account in money gram?

    • finder Customer Care
      HaroldJuly 4, 2017Staff

      Hi Jojo,

      Thank you for your inquiry.

      1. I want to transfer money from visa debit card to a foreign country, so that. my friend can pick it up in another country. is it possible my money gram?
      Answer – Here’s a guide where you can review and check the options on how you can do money transfer overseas via Money Gram.

      2. Can a different debit card send the money to the same account in money gram?
      Answer – As long as you registered both debit cards under your payment option, that is possible. But it would be nice to always clarify with Money Gram.

      I hope this information has helped.

      Cheers,
      Harold

  4. Default Gravatar
    EvyApril 26, 2017

    How many business days does it takes to pick up money if my sender sent it using cheque instead of card?

    • finder Customer Care
      HaroldJuly 6, 2017Staff

      Hi Evy,

      Thank you for your inquiry.

      Typically, the minimum transfer speed is “same day” you can receive the funds. Also, it would be nice to clarify this information with the money trasnfer company before you do the transaction.

      I hope this information has helped.

      Cheers,
      Harold

  5. Default Gravatar
    MartinApril 18, 2017

    How much fee do I have to pay to send Ksh4000 to macedonia?

    • finder Customer Care
      HaroldJuly 9, 2017Staff

      Hi Martin,

      Thank you for your inquiry.

      With MoneyGram you have an option to send the money through “online” or “send from location”. To check the estimate fees on this page click the “go to site” button. Once you have been redirected to MoneyGram actual website click the “estimate fees”.

      I hope this information has helped.

      Cheers,
      Harold

  6. Default Gravatar
    SamApril 14, 2017

    How can i check my past transaction record from my moneygram account?

    • finder Customer Care
      HaroldJuly 9, 2017Staff

      Hi Sam,

      Thank you for your inquiry.

      MoneyGram offers two options for tracking the status of a transfer. The first option is to login to your online account and view your transaction history. If you haven’t created an online account, or 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.

      I hope this information has helped.

      Cheers,
      Harold

  7. Default Gravatar
    AdebayoMarch 16, 2017

    How much is 250 dollars in Nigeria money?

    • finder Customer Care
      HaroldJuly 13, 2017Staff

      Hi Adebayo,

      Thank you for your inquiry.

      You may want to check the US Dollar to Nigerian Naira Exchange Rate here.

      I hope this information has helped.

      Cheers,
      Harold

  8. Default Gravatar
    KylieFebruary 16, 2017

    what is the turn around time in which I will receive funds into my direct bank account if sent from Brazil to South africa

    • finder Customer Care
      AdrienneFebruary 20, 2017Staff

      Hi Kylie,

      The transfer time depends on the provider you choose and the method of transfer. If you transfer using your bank, it may anywhere from 1 to 5 days to receive funds into your South African bank account. If you choose an independent transfer provider such as one from this page, it may take as little as 1 business day. Also, with an independent provider you will end up paying less in fees than if you go with your bank.

      Best regards,

      Adrienne

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