Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Western Union vs. MoneyGram

Get the best rate for your next transfer overseas by comparing MoneyGram with Western Union.

Adrienne Fuller

Zyane Tan

Updated Jul 31, 2021. What changed?

Fact checked

Western Union leans slightly cheaper and averages faster transfer speeds than MoneyGram — but your experience may vary depending on your specific transfer. Because there are so many variables, you’ll want to compare Western Union and MoneyGram against one another to see which is best for you.

Quick verdict

Lower fees:
Western Union

Exchange rates:
Western Union

Fast transfers:
It depends

Compare Western Union versus MoneyGram

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	SGD 1	Within an hour	SGD 65.00	0.712	USD 666	MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.		Compare	Show details	Details Minimum transfer amount SGD 1.00 Transfer methods Agent Transfer options N/A Customer service Phone, Email Available currencies AED, 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 Read the full review
	SGD 1	Same day	SGD 5.00	0.712	USD 709	Western Union sends money online to friends and family in 200+ countries around the world.		Compare	Show details	Details Minimum transfer amount SGD 1.00 Transfer methods Online, Phone, Agent, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email, Branch Available currencies AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, IRR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LTL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SRD, STD, SVC, SYP, SZL, THB, TMT, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW, LVL Read the full review

Compare up to 4 providers

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

How they work

The process to transfer money over Western Union is nearly the same with MoneyGram. So much so, we can describe them both in one shot: You go to their sites, enter the amount you’re transferring, its destination and see how much you’ll pay for the exchange.

Both services also give the option to call, visit an office or use a mobile app to transfer money. After the transaction is complete, it converts and delivers your money to a bank account or makes it available for cash pickup at any location worldwide.

Read review: Western Union
Read review: MoneyGram

Who offers lower fees?

Western Union

In Singapore, Western Union charges a nominal fee from S$0 to S$5 depending on where and how you’re sending the money. In most cases, bank transfer, credit or debit card is free. But if you’re opting to pay in cash at an agent location, you’ll typically incur a S$5 fee.

MoneyGram

Fees vary depending on how much money you’re transferring, how you’re sending it and the country you’re sending it to. To get an idea of how much your transfer costs, you can use the online calculator on MoneyGram’s website. For most transfers, it’ll only cost S$3 if you pay by debit card and approximately 3% with a credit card.

Trophy icon
Winner: Western Union

Whether MoneyGram or Western Union offers lower fees may depend on where you’re sending the money, how you choose to pay and how your recipient chooses to receive the cash.

Let’s crunch the numbers: Sending $1,000 to Mexico

Let’s say you want to send $1,000 to Mexico, but you’re not sure which of these major companies is the right choice. Here are the fees and exchange rates offered by MoneyGram and Western Union when sending money for cash pickup and paying by bank transfer.

	Western Union	MoneyGram
Transfer fee	$0	$3
Exchange rate	1 SGD = 13.876 MXN	1 SGD = 13.964 MXN
Transfer speed	Within minutes	1 business day
Total received	13,876 MXN	13,922 MXN

Based on rates when we checked, your recipient would receive about 46 pesos more if you sent your transfer through Western Union.

Code exclusive

WorldRemit: First Transfer FREE

You first transfer is free with WorldRemit when you use this coupon code. Send or pick up cash in the US or around the world.

Show code

Who offers better exchange rates?

To understand who offers better exchange rates, you’ll need to first look at the mid-market rate. This is the true exchange rate that averages the buying and selling rate of a global currency — and the rate banks and transfer services use when they trade among themselves.

Western Union

Depending on the country you’re sending money to, a typical exchange rate at Western Union could be between 0.4% to 1% above the mid-market rate. With all things considered, Western Union is certainly a reasonably-priced service.

We’ll use the example of a transfer to euros (EUR):

If the mid-market rate is 1 SGD = 0.62 EUR
Western Union’s exchange rate might be 1 SGD = 0.6138 EUR

MoneyGram

MoneyGram also skews exchange rates for a profit. Depending on where you’re sending your money, the exchange rate could be around 0.5% to 1% or more above the mid-market rate. Like Western Union, this means hundreds of dollars on a large transfer diverted to MoneyGram’s pockets.

So if you’re sending money to Europe:

If the mid-market rate is 1 SGD = 0.62 EUR
MoneyGram’s exchange rate may be 1 SGD = 0.6169 EUR

Trophy icon
Winner: MoneyGram

Sending $10,000 to Europe with MoneyGram could result in about 31 more euros to your recipient over Western Union.

Who’s faster?

Western Union

Delivery speeds vary with transfer options. At an agent location or by phone, your transfer could be delivered in minutes — at higher costs. Your cheapest options could take five days or longer, depending on the country.

MoneyGram

Like Western Union, delivery speed with MoneyGram also varies by transfer option, with cash transfers in person or by phone delivered in minutes, again with higher costs. MoneyGram’s cheaper options take two to four business days for receipt.

Trophy icon
Winner: It depends

These services are similar enough that the time it takes to deliver your cash will depend on the country, your payment method and how your recipient chooses to receive the transfer.

Who offers more options?

	Payment Methods	Minimum and maximum transfers	Delivery methods	Transfer speeds	Countries and currencies
Western Union	Bank account, credit or debit card, cash	Minimum and maximum varies by country	Bank transfer, cash pickup, e-wallet	Varies from minutes to 5+ days	200+ countries
MoneyGram	Bank account, credit or debit card, cash	Minimum and maximum varies by country	Bank transfer, cash pickup, other options by location	Varies from minutes to 4+ days	190+ countries and 45+ currencies

Bottom line

While Western Union and MoneyGram can appear similar, you may get a stronger exchange rate with MoneyGram — which is especially important for larger transfers. But if your recipient needs to pick up your transfer as cash, Western Union’s 500,000 agent locations worldwide beats MoneyGram’s 350,000.

These two services aside, you could almost always do better with another money transfer specialist. Be sure to compare your options to find a procvider that’s perfect for your situation.

Looking for more 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.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
USD 60	1 day	-	-		Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees.	Go to site	Compare	Show details	Details Minimum transfer amount USD 60.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments Customer service Phone, Email Available currencies AUD, BDT, EUR, GBP, IDR, INR, KES, LKR, MXN, MYR, NPR, PHP, PKR, PLN, SGD, THB, USD, VND Go to site Read the full review
SGD 0	Same day	SGD 4.99	0.729	USD 7,290	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	Compare	Show details	Details Minimum transfer amount SGD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ALL, AMD, ARS, BDT, BGN, BIF, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, EUR, FJD, GEL, GHS, GMD, GNF, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, LAK, LKR, MAD, MDL, MGA, MKD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RSD, RUB, RWF, SGD, SLL, THB, TND, TRY, TZS, UAH, UGX, USD, UYU, UZS, VND, XAF, XOF, ZAR, ZMW, BYN Go to site Read the full review
SGD 250	1 day	SGD 0.00	0.735	USD 7,345	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	Compare	Show details	Details Minimum transfer amount SGD 250.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, AZN, BGN, BHD, BND, BRL, CAD, CHF, CLP, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, YER, ZAR Go to site Read the full review
SGD 2,000	1 day	SGD 0.00	0.735	USD 7,345	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	Compare	Show details	Details Minimum transfer amount SGD 2,000.00 Transfer methods Online, Phone, Agent Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
SGD 1	Same day	SGD 3.99	0.734	USD 7,339	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	Compare	Show details	Details Minimum transfer amount SGD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MVR, MWK, MXN, MYR, MZN, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, YER, ZAR, ZMW, ZWD, BYN Go to site Read the full review
SGD 250	1 day	SGD 0.00	0.735	USD 7,345	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	Compare	Show details	Details Minimum transfer amount SGD 250.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, INR, JPY, KES, KWD, MXN, NOK, NZD, OMR, PHP, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, YER, ZAR, CHE Go to site Read the full review
SGD 1	1 - 2 days	SGD 45.00	0.737	USD 7,342	Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount SGD 1.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
SGD 5	1 - 2 days	SGD 3.00	0.733	USD 7,333	Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply. CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.	Go to site	Compare	Show details	Details Minimum transfer amount SGD 5.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CLP, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PAB, PHP, PLN, SEK, SGD, THB, USD, YER, ZAR Go to site Read the full review
SGD 1	1 day	SGD 43.00	0.737	USD 7,343	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	Compare	Show details	Details Minimum transfer amount SGD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, JPY, KRW, LKR, MYR, NPR, NZD, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
SGD 200	2 days	SGD 50.00	0.732	USD 7,279	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	Compare	Show details	Details Minimum transfer amount SGD 200.00 Transfer methods Online, Phone Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, AUD, BDT, CAD, CLP, CNY, COP, CZK, DKK, EUR, GBP, HKD, HUF, IDR, INR, KRW, LKR, MXN, MYR, NOK, NPR, PEN, PHP, PLN, SEK, SGD, THB, USD, VND, YER Go to site Read the full review

Compare up to 4 providers

Thank you for your feedback!

Adrienne Fuller

twitter linkedin

Adrienne Fuller is the former head of publishing at Finder US. With a decade of experience creating guides in finance and education, she aimed to deliver the accurate and transparent information she wished she had when she made some of life's important financial decisions. Adrienne has a BA from Colorado College and loves to hike with her two Catahoula dogs.

Best Singapore dollar to Swiss franc exchange rates today (SGD/CHF) Travelex promo codes and discounts January 2022

More guides on Finder

Alternatives to N26: A list of similar banks and apps
We’ve compared the top challenger banks to help you figure out what’s the best alternative since N26 is not available in Singapore.
iRemit international money transfers review
Make simple and small transfers to the Philippines through the IREMITX app.
Ultimate Guide to European Travel
Bank accounts in Singapore for international students
If you’re an international student in Singapore, having a local bank account can help you manage your finances with ease.
Best Visa debit cards
Make payments conveniently at over 61 million merchants across the world with a Visa debit card. Find out which banks in Singapore offer them.
Sending money internationally during the coronavirus pandemic
Learn about how COVID-19 may affect the ways you transfer cash around the world.
5 ways to pay for your overseas tuition
Learn how to pay tuition abroad to help make your international study dreams a reality.
Review: TransferMate international money transfers
Learn about how TransferMate’s personal product works and what it can do for you.
Best international money transfer apps
Compare popular money transfer apps to get the most out of your mobile international transfer.
Singapore debit cards for overseas travel
Make sure you have one of these debit cards before you travel overseas.

Ask Finder

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

Western Union vs. MoneyGram

Get the best rate for your next transfer overseas by comparing MoneyGram with Western Union.

In this guide

Guides

Services

Send money to

Banks

Quick verdict

Compare Western Union versus MoneyGram

Compare up to 4 providers

How they work

Who offers lower fees?

Western Union

MoneyGram

Let’s crunch the numbers: Sending $1,000 to Mexico

Who offers better exchange rates?

Western Union

MoneyGram

Who’s faster?

Western Union

MoneyGram

Who offers more options?

Bottom line

Looking for more options?

Compare up to 4 providers

Adrienne Fuller

More guides on Finder

Ask Finder

Advertiser Disclosure