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Western Union vs. MoneyGram

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

Adrienne Fuller

Updated Aug 20, 2020. What changed?

Fact checked

We found that MoneyGram tends to be slightly cheaper and offer on-average faster transfer speeds than Western Union, 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.

Compare Western Union versus Moneygram

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	$1	Within an hour	USD 8.00	20.401	MXN 101,841	Easily transfer cash to more than 350,000 locations around the world.		Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Agent, Bank Account to Bank Account, Cash Transfer, International Money Order Transfer options N/A Customer service Phone, Email Available currencies AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CHF, CLP, CNY, COP, CRC, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, 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, LYD, MAD, MDL, MGA, MKD, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SLL, SRD, SVC, SZL, THB, TJS, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW, BYN Read the full review
	$1	3 - 5 days	USD 20.00	20.349	MXN 101,337	The biggest name in money transfers can get your funds to friends, family, or businesses in almost every corner of the globe.		Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Phone, Agent, Bank Account to Bank Account, International Money Order Transfer options Regular payments, One off payments Customer service Phone, Chat, Email, Branch Available currencies AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUP, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GGP, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, IMP, INR, IQD, IRR, ISK, JEP, JMD, JOD, JPY, KES, KGS, KHR, KMF, KPW, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SPL, SRD, STD, SYP, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TVD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XDR, XOF, XPF, YER, ZAR, ZMW Read the full review

Compare up to 4 providers

Quick verdict

Lower fees:
Tie

Exchange rates:
MoneyGram

Fast transfers:
MoneyGram

How they work

The way you go about a transfer with Western Union is nearly indistinguishable from the same process with MoneyGram.So much, in fact, that we can describe them both in one shot: You go to their sites, enter how much you’re transferring and to where and see how much you’ll pay for the exchange.

With either service, you also have the option of visiting an office, calling or using a mobile app to initiate a transfer. And once complete, they convert and deliver your money to a bank account or for cash pickup at locations worldwide.

Read review: Western Union
Read review: Moneygram

Who offers lower fees?

Western Union

Figuring out much you’ll pay to transfer money internationally can be muddied. Although most fees start at $5, they can be as much as $45 when paying by credit or debit card for cash pickup in certain countries. When sending money to high-traffic countries such as Mexico or India, however, some agents offer fee-free transfer options.

MoneyGram

Fees vary depending on how much money you’re transferring, how you’re sending it and the country you’re sending it to. Unless you actually initiate a transfer, it’s not easy to find out up front how much you’ll pay. As an example, to send $1,000 to China from a bank account, you’ll pay $8 in fees; to pay for that same amount by credit or debit card, you’ll pay $48. To send $1,000 for cash pickup in the Philippines, it’s $4.99 from a bank account and $10 by credit or debit.

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Winner: Tie

While MoneyGram may be a bit more straightforward when it comes to fees, Western Union provides a few more ways to pay.

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

Let’s say you want to send $1,000 to Italy, 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 to be picked up in cash and paying by bank transfer.

	Western Union	MoneyGram
Transfer fee	$5	$3.99
Exchange rate	1 USD = 21.526 MXN	1 USD = 21.430 MXN
Transfer speed	0 – 4 business days	0 – 5 business days
Total received	21,418 MXN	21,345 MXN

Based on rates when we checked, your recipient would receive about 75 pesos more if you sent your transfer through Western Union.

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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 up to 6% above the mid-market rate. If you’re sending a large amount overseas, this means hundreds of dollars that goes straight into Western Union’s coffers.

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

If the mid-market rate is 1 USD = 0.94 EUR
Western Union’s exchange rate might be 1 USD = 0.86 EUR

MoneyGram

MoneyGram also skews exchange rates for a profit. Depending on where you’re sending your money, the exchange rate could be 5% 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 USD = 0.94 EUR
MoneyGram’s exchange rate may be 1 USD = 0.91 EUR

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Winner: MoneyGram

Sending $1,000 to Europe with MoneyGram could result in about 50 more euros to your recipient over Western Union.

Who’s faster?

Western Union

Delivery speeds varies 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 too 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.

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Winner: MoneyGram

There’s no question that these services are similar. But MoneyGram’s cheaper options could deliver your cash to loved ones and businesses abroad up to three days faster, depending on the country.

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.

Then, if it’s more important that your friends or family be able to pick up your money in 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 provider that’s perfect for your situation.

Frequently asked questions

Does Walmart use Western Union or MoneyGram?

Walmart-2-Walmart transfers are powered by Ria Money Transfer, but customers can send transfers from Walmart to be picked up at a MoneyGram location.

Does CVS use MoneyGram or Western Union?

CVS partners with MoneyGram in many cities across the US, allowing customers to access MoneyGram services during their visit to CVS.

Does 7-Eleven use MoneyGram or Western Union?

7-Eleven does not partner with MoneyGram or Western Union in the United States.

Thank you for your feedback!

Adrienne Fuller

Adrienne Fuller is the head of publishing at Finder US. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.

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8 Responses

MariaMarch 3, 2019

How much does it cost to send 150.00 to cities in Texas, in minutes and pay by credit card ofrdebit, sender is also in Texas and receiver is also in Texas

Reply
- finder Customer Care
  
  johnbasanesMarch 4, 2019Staff
  
  Hi Maria,
  
  Thank you for reaching out to Finder.
  
  Based on the information you provided. Please see the following fees for sending money interstate.
  
  Western Union
  Cash pick up:
  Debit card: $18.99
  Credit card: $22.47
  
  Bank account:
  Debit card: $8.00
  Credit card: $8.00
  
  Moneygram:
  Online Bank account: $9.00
  Credit/Debit card: $16.99
  
  These are the fees as of today. These may change in the future though. Hope this helps!
  
  Cheers,
  Reggie
  
  Reply
eniolaSeptember 27, 2018

hey…please is money order same as money gram or western union? thanks

Reply
- AshSeptember 27, 2018
  
  Hi Eniola,
  
  Thank you for contacting finder.
  
  No, Money Order is different from MoneyGram and Western Union as those 2 are providers for Money Transfers. On the other hand, Money Order is a form of payment for a specific amount which is more trusted than a check.
  
  I hope this helps.
  
  Please do not hesitate to reach out again to us if you have additional questions.
  
  Cheers,
  Ash
  
  Reply
NickAugust 7, 2018

Apologize if dumb question but,

If I send USD internationally, can it be received in USD or will it be the local currencry?

Reply
- joelmarceloAugust 7, 2018
  
  Hi Nick,
  
  Thanks for leaving a question on finder.
  
  Yes! MoneyGram, Ria and Western Union all offer same currency transfers around the world from the U.S. Your beneficiary can then collect the funds you send from a transfer branch location nearby, often within minutes.
  
  To compare and learn more about same currency transfers, please click HERE.
  
  Cheers,
  Joel
  
  Reply
ShanteFebruary 27, 2017

can i wire money through moneygram using my debit card from my phone

Reply
- finder Customer Care
  
  AnndyJune 27, 2017Staff
  
  Hi Shante,
  
  Thanks for your question.
  
  With MoneyGram, you can send money online using any device. You can also pay using a debit card. Other payment options are bank transfer and credit card.
  
  Cheers,
  Anndy
  
  Reply

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Western Union vs. MoneyGram