MoneyGram money transfer review & guide
Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .
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Everything you need to know
MoneyGram review
As the second-largest money transfer service in the world (Western Union is the first), MoneyGram has a wide network of agent locations. Users can pick up money at more than 350,000 individual locations in more than 200 countries and territories. While MoneyGram is well-known for fast and reliable international money transfers, it is one of the most expensive options for many consumers. MoneyGram has higher fees for transfers and a greater markup on the mid-market exchange rate. This means you may pay more to send the same amount of money with them than you might with another similar service.
Payment Methods Available with MoneyGram
How you’re able to pay for a money transfer with MoneyGram depends on the country where you’re sending money from
How much can I transfer with MoneyGram?
MoneyGram provides competitive limits for transferring money internationally, depending on whether you're using their online platform or going to an agent in person.
Online Transfers
MoneyGram allows you to send up to $10,000 online in one go. This is typically the limit for users who fund their transfers via bank account, credit card, or debit card.
In-person Transfers
You can send more than $10,000 by visiting a MoneyGram agent.
Recurring Transfers
Set up monthly limits for regular transfers.MoneyGram allows you to set up recurring transfers, making it easier for you to send money to the same recipient regularly.
How long does a transfer usually take with MoneyGram?
Every transfer will take a different amount of time depending on a few things. MoneyGram moves your money as quickly as possible, but the speed will be affected by things like the currency you’re sending to and from, how you pay for it, and banking hours.
Whatever currency you’re sending, converting your money can always take up to 3-5 business days.
MoneyGram Transfer Fees
The fees MoneyGram charges to send money overseas varies based on where you’re sending money, how much money you send, and how you’re paying for the transfer. You can see how much your transfer will cost by using the Rates & Fees calculator on the MoneyGram homepage.
Typically, paying for a transfer from your bank account is the least expensive method to choose. Unfortunately, this option is only available if you have a U.S. checking account. Similarly, sending money to a bank account usually means lower fees, but this service is only available in select countries.
Sometimes, you will find lower fees if you initiate a transfer at a physical MoneyGram location. Sending your money from one bank account to another may be less expensive this way, for example. When sending money for cash pickup and paying with your bank account, you are likely to find lower fees when initiating the transfer online than if you go into an agent location.
Pros and Cons of using MoneyGram
Pros
Second-largest money transfer service in the world, meaning they are well-known and trusted.
A large network of agent locations, with more than 350,000 individual locations internationally.
Pay for transfers in a way that is most convenient for you, including bank account transfer (U.S. only), Interac transfer (Canada only), credit card, debit card, or cash (in agent locations only).
Send money a variety of ways, including bank account deposit, mobile wallet, prepaid card, cash pickup, and cash delivery.
Transfers are available online and in person.
Cons
You can only pay with a U.S. bank account, making transfers more expensive for international consumers.
Fees differ in agent locations and online, making it difficult to know if you’ve got the best rate.
The markup on exchange rates is among the highest in the industry, meaning MoneyGram is one of the more expensive money transfer services.
Lower daily and monthly transfer limits than some online services.
Can only transfer to a bank account in a limited number of countries.
How it works
How does Moneygram make money?
MoneyGram makes its money in two ways: By charging customers a fee to send money, and by charging a markup on the exchange rate. With MoneyGram, the fee you pay is based on:
MoneyGram exchange rates
Best rates with RemitBee
RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.
Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.
Safety and security
Is MoneyGram money transfer secure?
MoneyGram considered as a secure, well-trusted way to send and receive money.
It is licensed in all 50 of the states in the United States, as well as the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam. MoneyGram is a licensed Authorized Payment Institution in the United Kingdom. The company is monitored by FINTRAC in Canada, which helps prevent money laundering and the financing of terrorist activities.
MoneyGram also complies with licensing and regulations in many other countries where they operate.
MoneyGram is very serious about regulatory compliance, investing an average of $50 million annually in its compliance program.
Security features
With MoneyGram you can send money from the following countries
Other Money Transfer Providers
Have questions? We have answers!
