Sites like MoneyGram for international money transfers

The best alternative companies to MoneyGram for sending a money transfer

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The second-largest international money transfer service in the world, MoneyGram is a big contender for money transfer. Its services transfer and exchange currencies in over 200 countries and territories around the world to more than 350,000 agent locations worldwide. If you’d like to find a MoneyGram agent in London, have a look at our MoneyGram Locations page.

Pros

  • Extensive global network of 350,000 agent locations
  • Large pool of services available for sending, receiving or financing
  • Secure and reliable
  • Fast transfers, with same-day service in many locations

Cons

  • Fees vary depending on payment type and transfer destination
  • Local exchange rates vary by transfer destination

Moneygram might have tons of locations and a cash pickup option, but it’s not the cheapest option out there. Learn how you can save on fees and exchange rates when you compare services.

Transfer your funds with WorldRemit

  • Use the code 3FREE to pay no fees on your first three money transfers
  • Choose how you want to send your money - via bank transfer, cash pickup or mobile money
  • Instant money transfers available
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TorFX logo

TorFX

TorFX is a strict money exchange and transfer company that focuses on getting your funds where they need to go quickly. Unlike other services, it requires that funds to be cleared by individuals who hold TorFX accounts. The money must be sent in advance before the transaction can be performed. TorFX cares about its customers, with clarity and friendly service two of its highest priorities.

Pros

  • Competitive exchange rates.
  • Free market news.
  • Fixed exchange rate protection.
  • Can save you 5% on bank exchange rates.
  • No bank charges or commissions.
  • Consult with currency experts.

Cons

  • Potential risks of exchange include market volatility.
Go to the TorFX website

OFX logo

OFX

OFX offers transfers and exchanges into 55 different currencies. If you’re a larger business looking to pay for exports or just need to transfer a larger sum to an account overseas, this service may be ideal.

Pros

  • 24-hour customer support.
  • Available in 195 countries and 55 currencies.
  • Offers scheduled and recurring transfers.
  • iOS and Android apps available for mobile transfer and tracking.

Cons

  • A minimum limit of £3,000 usually applies to transfers, which may be inconvenient for some users.
Go to the OFX website

Currencies Direct logo

Currencies Direct

Currencies Direct is an international money transfer service dedicated to helping its customers save more when transferring money internationally. With 39 currencies to choose from (and others that can be discussed with the company itself), it is more flexible than other money transfer services. So long as there’s a bank account available, Currencies Direct will transfer and exchange your funds at a low flat rate.

Pros

  • No fees for 90% of its transactions.
  • Worldwide service.
  • Competitive exchange rates.
  • Low minimum transfer of £100.
  • Supports large transactions at a seemingly unlimited maximum.
  • Monitors exchange rates for your ideal transfer.

Cons

  • No cash pickup option.
  • Does not support all currencies (though you can contact them if yours isn’t listed).
Go to the Currencies Direct website

Western Union logo

Western Union

Around for more than 160 years, Western Union continues to make it easy for you to transfer money in the UK and overseas. In more than 200 countries and territories across the globe and with more than 500,000 agent locations worldwide, money pickups are a breeze.

Pros

  • Low minimum transfer of £1.
  • Send money in minutes.
  • Transfer to a wide range of countries.
  • Competitive live exchange rates updated regularly.
  • Multiple transfer options.
  • Trusted provider.

Cons

  • Can be more expensive than other transfer companies.

Rational FX logo

Rational FX

RationalFX offer fast transfer services available 24/7. Set up in 2005 in London’s financial district, RationalFX is able to offer its 80,000 clients favourable exchange rates as they are able to buy currency at wholesale rates, saving customers as much as 10% compared to banks.

Pros

  • Get reports on the foreign exchange market for free
  • Transfer to a wide range of countries.
  • Exchange rates updated regularly.
  • Multiple transfer options.
  • Better rates with larger transfers.

Cons

  • RationalFX only allows bank to bank transfers.
  • You’ll need to be willing to pay a small transfer fee.
Go to the Rational FX website

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