WorldFirst vs MoneyGram

We compare WorldFirst and MoneyGram side by side to find out which offers better value.

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WorldFirst and MoneyGram are two well-known international money transfer providers. The former offers online transfers and the latter offers bank and cash pick-up transfers – but which one offers the best value for money?

To find out, let’s compare WorldFirst and MoneyGram head to head.

The fees and rates used in this comparison are accurate as of 19 March 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
NZD 2,000 2 days NZD 0.00 0.666 USD
3,332
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
Go to site Show details
NZD 250 1 day NZD 210.00 0.647 USD
3,100
Easily transfer cash to more than 350,000 locations around the world. Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Which has lower fees?

WorldFirst

WorldFirst doesn’t charge any transaction fees. However, please note that a fee may be imposed on the transaction by the receiving bank.

MoneyGram

MoneyGram’s transaction fees vary depending on:

  • Where you are sending money
  • How much you send
  • How you pay for your transaction

MoneyGram offers a handy online fee calculator so you can estimate the fee that will apply to your transaction.

Trophy icon
Winner: WorldFirst

It’s pretty hard to beat WorldFirst’s zero transfer fees. However, please note that this doesn’t necessarily mean WorldFirst is the cheaper option. You’ll also need to take the exchange rate into account, which we’ll explain below.

Let’s crunch the numbers: Sending $2,000 to the UK

To help you get a better idea of just how WorldFirst and MoneyGram compare in the real world, let’s take a look at the example of sending $2,000 to a bank account in the UK.

Sending $2,000 to the UK
WorldFirst MoneyGram
Transfer fee $0 $1
Exchange rate NZD$1 = GBP£0.532401 NZD$1 = GBP£0.52
Transfer speed 1 working day 1 working day
Total pounds received GBP£1,064.80 GBP£1,040
Receiver gets GBP£24.80 more GBP£24.80 less

As you can see in the table, WorldFirst offers better value for money in this scenario. Not only will WorldFirst save you $1 in transfer fees, but its superior exchange rate means that your recipient will get an extra £24.80.

Which offers better exchange rates?

WorldFirst

WorldFirst makes a profit by adding a margin on top of the mid-market exchange rate. This margin varies depending on the currency you send, but is usually around 0.5–1%. For example, if you want to send NZD to the United States:

  • If the mid-market rate is NZD$1 = USD$0.709964
  • WorldFirst’s exchange rate might be NZD$1 = USD$0.706242

MoneyGram

MoneyGram also adds a margin on top of the mid-market rate. This varies depending on the currency you send, and could range anywhere from 0.5–10%. Using the same NZD to USD example:

  • If the mid-market rate is NZD$1 = USD$0.709964
  • MoneyGram’s exchange rate might be NZD$1 = USD$0.68

Trophy icon
Winner: WorldFirst

WorldFirst’s exchange rates are generally better than those offered by MoneyGram, which means more of the money you send arrives in your recipient’s bank account or wallet.

Which is faster?

WorldFirst

Transaction processing times vary depending on what currency you send, the amount you’re transferring, and your bank. If you’re sending funds to a major currency (USD, GBP and EUR), your transaction will be completed on the same day. However, transfers to other destinations and currencies could take one to four working days.

MoneyGram

MoneyGram transfer times vary depending on how you pay for your transaction and how your recipient will access the funds. If sending a cash pick-up transfer from a MoneyGram branch, the funds will be available for your recipient to collect within minutes. However, if you’re sending a bank account deposit, your transaction could take two to four days to process.

Trophy icon
Winner: MoneyGram

MoneyGram offers the ability to send an international transfer within minutes, making it a better choice if speed is your top priority.

General features

Payment methods Receiving Options Minimum and maximum transfers Transfer speeds Currencies
WorldFirst Bank transfer Bank account Minimum: $2,000

Maximum: No limit

2 days 55+ currencies
MoneyGram Bank transfer, credit card, debit card, cash Bank account, cash pick-up location, mobile wallet Minimum: $250

Maximum: $10,000

1 day 95+ currencies

WorldFirst

WorldFirst allows you to send transfers of $2,000 or more from your bank account to overseas bank accounts. Transfers can be sent via the WorldFirst website or smartphone app. After signing up for a free account, you can lodge a transfer request by detailing the amount and currency you want to send and providing your recipient’s bank account details.

MoneyGram

MoneyGram offers online and in-branch transfers to more than 200 countries and territories. You can send a transfer through the MoneyGram website, by using the MoneyGram smartphone app, or by visiting your nearest agent location. The funds you send can then be deposited into your recipient’s bank account or mobile wallet, or made available for collection at a MoneyGram branch.

Bottom line

If you’re looking for the best value for money, WorldFirst offers more affordable international transfers. However, if you’re sending less than $2,000 or need to get the funds to your recipient as quickly as possible, MoneyGram is worth considering.

Ultimately, make sure you compare WorldFirst and MoneyGram with a wide range of international money transfer services to find the right provider for your needs.

Looking for more options?

Want to see how WorldFirst and MoneyGram stack up against the competition? Use the comparison calculator below to compare exchange rates, fees and transfer fees across a range of international transfer services.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
NZD 0 1 day NZD 0.00 0.666 USD
3,332
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
NZD 0 Within an hour NZD 3.99 0.668 USD
3,336
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 250 1 day NZD 0.00 0.666 USD
3,330
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days NZD 15.00 0.666 USD
3,319
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. Go to site Show details
NZD 200 1 day NZD 0.00 0.662 USD
3,312
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply. Go to site Show details
NZD 2,000 2 days NZD 0.00 0.666 USD
3,332
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
Go to site Show details
NZD 1 1 - 2 days NZD 40.00 0.67 USD
3,325
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
NZD 5 1 - 2 days EUR 3.00 0.667 USD
3,335
Go to site Show details
NZD 10,000 1 - 2 days N/A N/A N/A Go to site Show details
GBP 10,000 1 day N/A N/A N/A Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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