Review: MoneyGram international money transfers

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Send fast money transfers to over 190 countries with MoneyGram.

  • Good for sending money almost anywhere in the world instantly and if your recipient doesn’t have a bank account.
  • Be wary of high fees and poor exchange rates.

GBP 1

Min. Transfer Amount

GBP 7,600

Max. Transfer Amount

Within an hour

Transfer Speed

Details

Product NameMoneyGram International Money Transfers
Min. Transfer AmountGBP 1
Max. Transfer AmountGBP 7,600
Transfer MethodsOnline, Agent, Cash Transfer
Transfer OptionsOne off payments
Transfer Speed
Minimum transfer time
Within an hour
Customer ServicePhone, Chat, Email, Branch
Available CurrenciesAED, AFN, ANG, AOA, AUD, BAM, BDT, BGN, BHD, BIF, BMD, BND, BSD, BTN, BWP, BZD, CAD, CHF, CLP, CNY, COP, CVE, CZK, DJF, DKK, DOP, DZD, ERN, EUR, FJD, GBP, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, INR, IQD, ISK, JMD, JOD, JPY, KES, KMF, KWD, KYD, LKR, LSL, MAD, MGA, MKD, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NOK, NPR, NZD, OMR, PGK, PHP, PKR, PLN, QAR, RON, RSD, RWF, SAR, SBD, SCR, SEK, SGD, SLL, STD, SZL, THB, TMT, TND, TOP, TRY, TTD, TZS, UGX, USD, UZS, VEF, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW
Online Transfer Fee3.00%
Exchange Rate UpdatesReal time

Pros

  • Cash transfers
  • Convenient locations
  • Almost instant
  • Low minimum transfer
  • Many currencies

Cons

  • High fees
  • Low daily maximum limit

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”

MoneyGram exchange rates and fees

Calculate how much sending money overseas would cost with MoneyGram by using our tool below. You can also check out the real-time exchange rate that MoneyGram offers and see if there are any additional fees.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 1 Within an hour GBP 65.00 1.096 EUR
1,025
Fast cash pick-ups 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.

Available currencies

MoneyGram aims to deliver money almost anywhere in the world, in almost any currency you need. This means that there are over 95 currencies you can choose to send to.

Popular currencies include:

  • USD United States dollar
  • EUR Euro
  • CAD Canadian dollar
  • NZD New Zealand dollar
  • CNY Chinese yuan
  • JPY Japanese yen
  • HKD Hong Kong dollar
  • IDR Indian rupee

What types of transfers can you make with MoneyGram?

  • Bank transfer. You can send money to a recipient’s bank account. This is often one of the cheapest options.
  • Cash pick-up. You can send money for a recipient to pick-up at a MoneyGram agent location. This can be one of the fastest ways, but will be subject to the agent’s business hours.
  • Home delivery. In some locations, MoneyGram delivers your money right to your recipient’s door.
  • Mobile wallet. MoneyGram can deliver funds to mobile wallets like M-Pesa in select countries.

How long does a transfer with MoneyGram take?

How long a transfer takes depends on what kind of transfer you’re sending. Cash pick-ups and mobile wallet payments will often be available in just a few minutes. Sending money to a bank account will usually take longer, especially if you’re sending money over a weekend.

If you want a fast transfer you can opt for a cash pick-up, but if you’d prefer a cheaper payment a bank transfer is more suitable.

What payment methods does MoneyGram accept?

MoneyGram accepts the following payment methods:

  • Cash. You can pay with cash by going to a MoneyGram agent location.
  • Bank transfer. You can pay directly from your bank account online.
  • Credit and debit card. Card is accepted both online and in person, but it may cost extra. You should also be wary of cash advance fees and interest rates on card payments for money transfers.

Transfers typically takeClock icon for transfer speed

Within an hour

Is MoneyGram safe to use?

  • Security and regulation: MoneyGram is government regulated and holds its customers’ funds separate from the company’s own.
  • Established: 1940
  • Reviews: Bear in mind that Trustpilot gives MoneyGram a score of 1.5* out of 5, based on over 65 reviews.
*According to TrustPilot on 21 January 2020.

Although MoneyGram describes itself as “safe and secure”, you should never send money to someone you don’t know. You can read more about common money transfer scams in our guide.

How does MoneyGram make money?

MoneyGram makes money by charging fees for its money transfer services, as well as by taking a margin on international exchange rates.

This margin is the difference between the mid-market exchange rate and the rate that MoneyGram gives its customers.

The mid-market rate is the official exchange rate at any given time, showing how much two currencies are worth relative to each other. MoneyGram and most other money transfer services will give customers slightly less than a currency is worth and take the remainder for themselves. This is the margin.

How to register for an account

You don’t need to register an account with MoneyGram to send money in person at an agency, but you will if you want to send money online.

To create an account:

How do I make an international money transfer with MoneyGram?

What is MoneyGram?

MoneyGram is the world’s second-largest money transfer service, as well as one of the oldest. In its earliest incarnation, MoneyGram was founded in 1940 as Travelers Express. It wasn’t known as MoneyGram until 1988.

Between those years, it was acquired by The Greyhound Corporation, and at different times it went through mergers and was spun-off as a separate company.

It took a hard hit in the financial crisis between 2007 and 2009, experiencing a 96% drop in share price and downsizing around the world, but has grown again since then.

In a nutshell

Pros
  • Instant transfers available. MoneyGram can let you send money to most places in the world in just a few minutes.
  • Able to pay with cash or card. You can pay by cash or card in person at a branch and you won’t need to sign up for an account or wait for verification like you would with other online services.
  • Variety of delivery options. You can send money to your recipient’s bank account, mobile wallet or door, or to a cash pick-up location.
  • Currency and country range. MoneyGram agents can be found all over the world – it has one of the widest reaches.
Cons
  • Low maximums. MoneyGram generally isn’t suitable for larger transfers.
  • Expensive. MoneyGram will generally have higher fees and poorer rates than other money transfer services.

How does MoneyGram compare to other providers?

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.

Compare money transfer services

Table: sorted by a combination of service offering and the amount your recipient will receive

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,000 1 day GBP 0.00 1.131 EUR
11,308
TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
(Conditions apply)
Go to site Show details
GBP 5,000 Same day GBP 0.00 1.131 EUR
11,308
Universal Partners FX offers competitive exchange rates and same-day transfers for 100+ currencies. Go to site Show details
GBP 3,000 1 day GBP 0.00 1.131 EUR
11,308
Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
GBP 1 1 - 2 days GBP 0.00 1.131 EUR
11,308
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.131 EUR
11,308
Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
GBP 2,500 1 day GBP 0.00 1.131 EUR
11,308
With 17 years of foreign exchange expertise, OFX know the money transfers business very well, offering facilities for one-off and recurring transfers. Go to site Show details
GBP 5,000 Same day GBP 0.00 1.131 EUR
11,308
Clear Capital specialises in sending over 150 currencies abroad for both individuals and businesses. Expect to receive a dedicated account manager and same-day transfers. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.131 EUR
11,308
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
GBP 5,000 1 day GBP 0.00 1.131 EUR
11,308
Take advantage of fee lock-ins and live bookable rates, helping you save up to 85% in hidden bank fees. Go to site Show details
GBP 1,000 1 - 2 days GBP 0.00 1.131 EUR
11,308
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
GBP 1 1 - 2 days GBP 1.99 1.121 EUR
11,204
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
GBP 5 2 days EUR 3.00 1.13 EUR
11,297
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
GBP 50 Same day GBP 2.99 1.124 EUR
11,237
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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.

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2 Comments

  1. Default Gravatar
    Angela
    November 11, 2018

    I was at post office on Thursday and was told I had reached my costumers limit this year. Will I be able to start sending money through MoneyGram next year?

    • Avatarfinder Customer Care
      Charisse
      November 16, 2018

      Hi Angela,

      Thanks for reaching out to finder.

      Generally, when you have already reached your sending limit within a calendar year, you will be able to start sending again on the next calendar year- 2019 (January 1 – December 31).

      You can also confirm this information directly from MoneyGram Post Office.

      I hope this helps.

      Cheers,
      Charisse

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