GoBear is now part of Finder

Review: MoneyGram money transfers

Fast money transfers to 200+ countries and territories worldwide, but keep an eye on the offered exchange rate.

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.

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

No reviews yet. Write a review

SGD 1

Min. Transfer Amount

SGD 6,000

Max. Transfer Amount

Within an hour

Transfer Speed

Details

Product NameMoneyGram International Money Transfers
Min. Transfer AmountSGD 1
Max. Transfer AmountSGD 6,000
Transfer MethodsAgent
Transfer Speed
Minimum transfer time
Within an hour
Customer ServicePhone, Email
Available CurrenciesAED, AUD, BMD, BND, CAD, CHF, CZK, DKK, DZD, EUR, FJD, GNF, HKD, HNL, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RSD, SAR, SBD, SCR, SDG, SEK, SGD, SZL, THB, TOP, TRY, TWD, USD, UZS, VEF, VND, VUV, WST, XOF, XPF, YER, ZAR
Exchange Rate UpdatesReal time
Online Transfer FeeSGD 4.99

MoneyGram's coronavirus response

MoneyGram is encouraging customers to take business online when possible. According to the MoneyGram website, customers should:
  • “Take advantage of our online and in-app services to limit unnecessary travel
  • Check with local agents for store hours, restrictions, and closures if you need to send money using cash”

Why should I consider MoneyGram?

  • Wide reach. MoneyGram has approximately 350,000 agent locations in more than 200 countries and territories.
  • Diverse transfer options. Customers can send money both online and in-person. You can pay using credit and debit cards, bank wires and cash. Be sure to select the payment option that best balances your desired transfer speed with the associated fees.
  • Country and currency support. MoneyGram transfers can be sent to over 200 countries in almost 50 currencies. Some destinations support multiple currencies, which may help you save money on the exchange rate by sending through the more popular currency.
  • Speed. With same-day delivery available at many locations (subject to the holiday hours and compliance with regulatory requirements), your recipient could have their money in as little as 10 minutes during normal business hours when picking up cash. When speed is important, cash pickup is typically your fastest option with MoneyGram.
  • Delivery options. You can send money for pick up in different ways, including cash pickup, to a mobile wallet or to a bank account.

What to be aware of with MoneyGram

  • Low maximum limits. When sending online with MoneyGram, your transfer is limited to $13,500 per transaction from Singapore. When you need to send more you can do so in-person from a MoneyGram agent location.
  • High fees. As with most money transfer services, MoneyGram’s transfers incur a fee. Fees are often higher when paying with a credit or debit card and lower when sending from bank account to bank account.
  • No hedging options. MoneyGram doesn’t offer recurring transfers, scheduled transfers or any other hedging tools to help you save money. Hedging tools can help you save money when used appropriately to lock in an exchange rate for future transfers.
  • Inconsistent exchange rates. MoneyGram’s exchange rates vary depending on how you are paying for your transaction and how it will be received. Pay close attention to the exchange rate to make sure you’re getting the best deal.

MoneyGram’s exchange rates and fees explained

At the time of writing (29 August 2020), MoneyGram only charge a flat fee of $3 for all transfers (except Pakistan).

Calculate how much your transfer with MoneyGram could cost

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

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 Within an hour AUD 2.99 0.718 USD
7,177
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide. Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How long does a MoneyGram money transfer take?

Transfer speed will depend on the selected ‘receive method’.

  • Cash pickup. The transferred amount is available for cash pickup by your recipient within minutes.
  • Bank transfer. Your recipient will typically receive the money in their bank account within a few hours.

Is MoneyGram safe to use?

MoneyGram International Pte. Ltd. is licensed by the Monetary Authority of Singapore (MAS) to provide cross-border money transfer services. Bear in mind that even though MoneyGram describes itself as “safe and secure”, you should never send money to someone you don’t know.

What MoneyGram’s reviews look like

Reviews accurate as of 29 August 2020.

Finder.com3 out of 5, staff reviewed

Trustpilot score4.1 out of 5, based on 3,866 customer reviews
Monito4 out of 10, staff reviewed
NerdWallet3.5 out of 5, staff reviewed

MoneyGram is a massive global company that has been in business since 1940. A lot of complaints online are about fees and exchange rates, often remarking on how the exchange rate was different from what was originally presented. Because of this it is crucial that you always review the transfer before clicking Send.

What are all the ways I can send money with MoneyGram?

MoneyGram offers one of the widest ranges of ways to send money and ways for your receiver to get it. We’ll go through each of them and what the steps look like.

Options for setting up a transfer

Online via MoneyGram’s website

MoneyGram allows you to send money online to destinations around the world. To do so, you’ll need to:

  1. Register for an account, or login if you already have one
  2. Select a receiving bank or MoneyGram agent location
  3. Choose how you want to pay

You can also set up the money transfer online, but pay with cash in-store. Make sure to bring valid ID and enough money to cover the transfer if you choose this option.

In-person at a MoneyGram location

Agent locations are in almost every country in the world, so to take advantage of this network you’ll need to:

  1. Head to MoneyGram’s website, where you can type in your location and all locations will appear.
  2. Bring necessary documents: valid ID, receiver’s information, and the money you plan on sending.
  3. Pay for your transfer with the agent and collect your receipt.

Always verify with MoneyGram’s Find a Location tool before you head there.

Options for your receiver to get the money

  • Send to a bank account. Although a little slower, this lets your receiver get the money directly in their account.
  • Organise for it to be picked up in cash at a MoneyGram location. The money is ready at the location in as little as 10 minutes after you’ve sent it, depending on the opening hours of the pickup location you’ve selected.

What do I need to send money online through MoneyGram?

Sending money with MoneyGram will require a few documents and pieces of information, including:

  • Contact information. Your full name and contact information is needed. Additionally, if you’re transferring money from your bank account, you’ll also need your banking information.
  • Proof of ID. A government-issued ID, such as your NRIC or passport.
  • Recipient information. Be prepared with 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.
  • Payment method. A valid method of payment is necessary for all transfers. Online transfers can be paid for through a bank account, credit card or debit card. In person transfers you can also pay with cash.

How to track a MoneyGram transfer

Find your authorisation or reference number on your receipt or in your email, if you placed an order online. To track, you can:

  • Use the online Track a Transfer tool by entering your last name with the authorisation or reference number.
  • Contact customer service and provide the authorization or reference number to them, along with your last name, to check the status of your order.
  • Visit a MoneyGram location and provide your information to the agent to find out where your order is and if it has been picked up or not.

Is there a MoneyGram app?

Screenshot of MoneyGram's app

Yes, MoneyGram has an app on both Google Play and the App Store. The app makes it possible to:

  • Scan your card. Use your phone’s camera to quickly scan your credit card, debit card and photo ID.
  • Log in using biometrics. Both face and fingerprint recognition can be used to log in.
  • Check exchange rates on the go. Current currency exchange rates and fees can be found in the app.
  • Share order details with your contacts. Sending key order information, like the tracking PIN number, to your recipient can be done with just a few taps.
  • Find an agent location using GPS. Use the in-app map to find agent locations based on your GPS or around the world.
Google Play Store4.4 out of 5, based on 17,483 customer reviews
Apple App Store4.8 out of 5, based on 57,308 customer reviews

Ratings collected on 29 August 2020

More on the best money transfer apps

Bottom line

When you need a money transfer sent fast, or to a remote destination, MoneyGram may be the choice for you. However, it is always a great idea to compare your options before making any transfer, as you never know how much fees and exchange rates may have recently changed. Even if MoneyGram was the best deal in the past, you may find that a competitor is now offering better rates to save you money.

How does MoneyGram compare to other services?

Browse the table below to see how MoneyGram compares to other providers. You can use the built-in calculator to see how much your transfer might cost.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
SGD 0 Same day SGD 4.99 0.732 USD
7,314
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
SGD 250 1 day SGD 0.00 0.737 USD
7,370
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
SGD 2,000 1 day SGD 0.00 0.737 USD
7,370
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
SGD 1 Same day SGD 3.99 0.737 USD
7,363
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
SGD 250 1 day SGD 0.00 0.737 USD
7,370
Send guarantees to match any competitor's exchange rate. T&Cs apply.
Send has fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
SGD 1 1 - 2 days SGD 45.00 0.74 USD
7,366
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
SGD 5 1 - 2 days SGD 3.00 0.736 USD
7,357
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
SGD 1 1 day SGD 43.00 0.74 USD
7,367
Pay no fees on your first two transfers, up to S$3000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
SGD 200 2 days SGD 50.00 0.734 USD
7,303
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Frequently asked questions

Ask Finder

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Privacy Policy.
Go to site