Review: MoneyGram money transfers

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

  • 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.

From £0

Fees (Pay by Bank Transfer)

£1

Minimum Transfer Amount

Details

Product NameMoneyGram
Minimum Transfer Amount£1
Pay ByCash, Credit card, Debit card, Bank transfer
Receiving OptionsCash pickup location, Bank account, Mobile wallet, Home delivery
Customer ServicePhone, Live chat, Email
Available CurrenciesAED, AFN, ANG, AOA, AUD, BAM, BDT, BGN, BHD, BIF, BMD, BND, BSD, BTN, BWP, BZD, CAD, CHF, CLP, 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, MMK, MNT, MOP, MUR, MVR, MWK, MXN, MYR, MZN, NGN, NOK, NPR, NZD, OMR, PGK, PHP, PKR, PLN, QAR, RON, RSD, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SZL, THB, TMT, TND, TOP, TRY, TTD, TZS, UGX, USD, UZS, VEF, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, STD
Bank Account Required?No
Personal Account Manager?No

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 – with more than 8,000 of those locations in the UK.
  • 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, directly to a Visa debit card in the UK, to a bank account and even to pay your bills.
  • Rewards. You can sign up to MoneyGram Plus Rewards, which gives you discounts on fees every few transfers you send.

What to be aware of with MoneyGram

  • Low maximum limits. When sending online with MoneyGram, your transfer is limited to £7,600 per transaction. There is also a £7,600 per month limit. 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 international and domestic 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 fees and exchange rates explained

MoneyGram’s fees and exchange rates may vary between online and agent locations, but for online transfers we can offer some insights. To save money, test a few different payment methods and amounts for your transfer, as sending two smaller transfers may be cheaper than one large transfer.

MoneyGram fees

MoneyGram bases fees on the amount you are sending. Fees typically increase at around £500 and £1,000, sometimes doubling when you bump up to the next fee tier.

  • Cheap: Paying by bank and having the money delivered to a bank account is often the cheapest way to send money through MoneyGram.
  • Expensive: Paying by credit card and having the money available for cash pickup is often the most expensive way to transfer through MoneyGram.

MoneyGram exchange rate

MoneyGram makes money by adding a margin to the exchange rate in addition to any fees charged. These exchange rates may change depending on how you are paying and how the money is being received, so pay attention to the total amount expected to be transferred when deciding on how to send your money through MoneyGram. Finding the balance between low fees and strong exchange rates is key to saving the most money on your transfer.

Data updated regularly
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
MoneyGram
Within an hour
From £0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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How long does a MoneyGram money transfer take?

Transfer speed will depend on the amount of fees you are comfortable paying and how quickly you need it to arrive.

  • Fastest option – as little as 10 minutes

    Pay for your transfer with a credit or debit card. When using card, you’ll pay a higher fee but your money will arrive in as little as 10 minutes. However, your credit card may charge a cash advance fee, further increasing the cost of your total transfer.

  • Cheapest option – up to 5 business days

    Using a bank account to pay for your transfer is typically the cheapest way to send money, but is also almost always the slowest. For your first transfer through MoneyGram, you may have to verify your account, which can take four or more business days. After verification, your actual transfer may take an additional five business days.

MoneyGram reviews

Moneygram UK scores 4.1 out of 5 on Trustpilot, based on 1,506 customer reviews (on 28 January 2021).

Overall, MoneyGram reviews on Trustpilot are pretty positive. MoneyGram UK’s ratings were 76% Excellent and Great, with 19% of reviews being Poor and Bad. Many customers complained about customer service, while many other customers were happy when completing transactions entirely online.

Is MoneyGram safe to use?

After multiple legal cases, one in 2012 and another in 2016, MoneyGram has increased its fraud prevention protocols to keep customers safer. It does this by monitoring transactions, educating customers on the dangers of money transfer fraud and providing numerous resources to customers to report potential fraud.

Common consumer scams, according to MoneyGram, include:

  • IRS Extortion Scam. A person claiming to be from a government agency asks for money to cover back debts owed to HMRC. To do so, the person claims you must wire money or send a prepaid card to a “government account”.
  • Refund scams. A person claims to be working for the Financial Conduct Authority and promises to help you get a refund, sent directly to your bank account.
  • Disaster relief. After a major disaster, scammers set up fake charities and ask for donations through wire transfers.
  • Foreign lottery. A person contacts you claiming you won a foreign lottery or sweepstakes, but due to international tax laws requires you to pay a fee upfront to claim your price.
  • Buying a vehicle. An online or newspaper ad for a vehicle seems too good to be true, and to secure the vehicle you must send a down payment before meeting with the person. Typically they ask you to wire money, which after being sent cannot be retrieved.

Any fraud can be reported through MoneyGram’s website or to the Financial Conduct Authority.

How does MoneyGram protect your money?
More on money transfer scams and how to avoid them

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.

Another online option is using Facebook. Find the MoneyGram Sendbot on Facebook then follow prompts provided by the bot. You’ll need a Facebook account to send money this way.

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, the recipient’s information, and the money you plan on sending.
  3. Pay for your transfer with the agent and collect your receipt.

You’ll often be able to send a MoneyGram from your local Post Office, but it’s always best to verify with MoneyGram’s Find a Location tool before you head there.

How to find a MoneyGram location to send money in-person

Options for your receiver to get the money

  • Send to a bank account. Although 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.
  • Send directly to someone’s debit card. Save your recipient the trouble of picking up or transferring money by sending it directly to their debit card. Do this by selecting Debit Card Deposit when choosing your receive method. This only works for Visa debit cards within the UK.
  • Send to a mobile wallet. A mobile wallet is a place to store funds digitally, with actual wallet types varying by country and user preference.
  • Delivered right to their door. In some locations, you can choose home delivery as a receiving method. Your money will be delivered by a local MoneyGram agent.
  • Pay bills through MoneyGram. MoneyGram supports bill payment to utility companies, credit cards and more. Use the online bill pay search to find out if the company you want to pay is supported by the MoneyGram network.

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 a driver’s licence 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 authorisation 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.

Does MoneyGram have a mobile 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.
Reviews accurate as of 28 January 2021
Google Play Store4.1 out of 5, 41,386 customer reviews
Apple App Store4.8 out of 5, 16,500 customer reviews

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.

Frequently asked questions

How can I see my transaction history?

When you log in to your account, any recent transactions you have completed will be displayed on your homepage and you’ll also see a link that lets you view all. If you haven’t made any transfers recently you will have to click on My Account and then Transaction History to view the relevant details.

What are the perks of the MoneyGram Plus Rewards program?

When we checked, MoneyGram was offering the following rewards:

  • Welcome Gift. Joining the program earned you 20% off your second money transfer.
  • Ongoing Rewards. A 40% coupon is available after every fifth money transfer.
  • Premier Status. After completing your fifth transfer you are upgraded to Premier Status and earn additional rewards which are occasionally sent to you through email.

Note: Rewards may change without notice.

Why is MoneyGram reviewing my transfer?

MoneyGram reviews all money transfers for compliance with know-your-customer (KYC) and anti–money laundering (AML) industry protocols, which involve knowing the identity of its customers, their financial activities and any risks they pose to MoneyGram’s business. MoneyGram typically reviews transfers within a day or less, and will contact you directly if there are any problems with your transfer.

Can I cancel a money transfer?

Yes, if it hasn’t yet been picked up by your recipient. 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.

How does MoneyGram compare to other services?

Table: sorted by promoted deals first
Our table below lets you compare the services you can use to send money abroad. Choose if you want to send under or over £10,000, and you’ll be shown a list of services that can help you.
Data updated regularly
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
TransferWise for large transfers
Within an hour
From £3.75

View details
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
SpartanFX
24 hours
£0

View details
SpartanFX has fee-free transfers, a best exchange rate guarantee and personalised one-to-one support for every customer.
Universal Partners FX
24 hours
£0

View details
Universal Partners FX offers competitive exchange rates and same-day transfers in 100+ currencies.
PagoFX for large transfers
Within an hour
Varies

View details
PagoFX offers fast and cheap international money transfers from the UK and is backed by Santander.
Currencies Direct
Within an hour
£0

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Central FX
24 hours
£0

View details
CentralFX's dedicated team will guide you or your business from first call to final payment.
TransferWise
Within an hour
From £3.75

View details
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
PagoFX
Within an hour
Varies

View details
PagoFX offers fast and cheap international money transfers from the UK and is backed by Santander.
XE Money Transfers
24 hours
£0
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
XE has fast transfers with no fees and a range of foreign currency tools.
Azimo
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

View details
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
CurrencyFair
24 hours
€3
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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2 Comments

    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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