MoneyGram Money Transfer Review (2025)

Trademark Disclaimer

MoneyGram® is a trademark of MoneyGram International Inc. with whom (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales, or customer service. The enclosed content is for informational and comparison purposes only. All third-party products, services, company names, and logos remain the property of their respective holders. Use of them here does not imply any affiliation with or endorsement by them.

MoneyGram Review

MoneyGram stands as the second-largest money transfer service globally, offering an expansive network of agent locations. With over 350,000 locations in more than 200 countries and territories, the platform ensures accessibility for users worldwide. Additionally, MoneyGram enables online and mobile app transfers to over 20 countries, providing convenience for users who prefer digital methods.

MoneyGram’s key selling points include its speed and reliability. Most transfers are processed within minutes, making it a dependable choice for urgent international money transfers. However, its services come with higher fees and a significant markup on exchange rates compared to competitors, making it a more expensive option for frequent users or those sending large sums.

How MoneyGram Money Transfers Work

MoneyGram simplifies the process of transferring money, allowing users to send funds in a few straightforward steps:

1. Create an Account:
   • Visit www.moneygram.com to register.
   • Provide an email address, phone number, and a secure password.
2. Recipient Details:
   • Enter the recipient’s name, contact information, and destination country.
3. Select Payment Method:
   • Choose from bank account, credit card, debit card, or cash at an agent location.
   • Note: Payment methods vary by country (details below).
4. Send Money:
   • Confirm the transfer. Most transactions are processed within minutes, especially for cash pickups or mobile wallet deposits.

MoneyGram offers additional features like recurring transfers, tracking tools, and real-time status updates to ensure a smooth and transparent experience.

Payment Methods Available with MoneyGram

The payment methods depend on the country you are sending money from:

• United States: Options include bank accounts, credit cards, debit cards, or cash at agent locations.
• Canada: Payments can be made via Interac transfers, credit cards, debit cards, or cash.
• Other Countries: Only credit and debit cards or cash are accepted at agent locations.

Transfer Limits

• Online Transfers: Limited to $10,000 per transaction and up to $10,000 within 30 days.
• Agent Locations: Allow higher transfer limits for those needing to send larger sums.

Where Is MoneyGram Available?

MoneyGram operates in over 200 countries worldwide, making it one of the most accessible money transfer services. Here are some popular destinations:

• Europe: United Kingdom, France, Greece, Portugal, Denmark
• Asia: India, Japan, South Korea, Singapore, Philippines
• Americas: United States, Brazil, Mexico, Chile
• Others: Australia, Egypt, Iceland

For a comprehensive list of supported countries, visit MoneyGram’s official website.

MoneyGram Transfer Fees

MoneyGram charges fees based on multiple factors:

1. Transfer Amount:
   • Higher amounts often incur higher fees.
2. Destination Country:
   • Fees vary depending on the recipient’s location.
3. Payment Method:
   • Bank transfers (U.S. only) are typically cheaper.
   • Credit card payments are convenient but come with higher costs.
4. Delivery Method:
   • Cash pickups and mobile wallet transfers often have higher fees.

How to Calculate Fees

Use the Rates & Fees Calculator on MoneyGram’s homepage for a transparent estimate before proceeding.

MoneyGram Exchange Rates

MoneyGram’s exchange rates include a markup, often around 5% above the mid-market rate. While this is standard for many traditional services, it’s significantly higher than online-only competitors, which often charge 1-3%.

How to Compare Rates

Always compare MoneyGram’s rates with those of competitors like Wise, PayPal, and Western Union to ensure you’re getting the best deal.

Pros and Cons of MoneyGram

Pros

• Global Reach: Second-largest money transfer service with over 350,000 locations.
• Multiple Payment Options: Supports bank accounts, credit/debit cards, and cash.
• Fast Transfers: Many transactions complete within minutes.
• Versatile Delivery Methods: Includes bank deposits, mobile wallets, prepaid cards, and cash pickups.
• User-Friendly Platforms: Intuitive website and app with tracking features.

Cons

• High Fees and Markups: Among the most expensive options for international transfers.
• Limited Bank Transfer Options: Only available in select countries.
• Customer Support Limitations: No live chat or phone support.
• Transfer Limits: Restrictive daily and monthly caps for online transfers.

How Does MoneyGram Make Money?

MoneyGram’s revenue comes from:

1. Transfer Fees: Varying based on transaction details.
2. Exchange Rate Markups: Averaging around 5% above the mid-market rate.

Platforms Where MoneyGram Is Available

You can use MoneyGram through:

1. Agent Locations: Over 350,000 worldwide.
2. Website: Accessible from any device.
3. Mobile App: Available for Android and iOS, offering full functionality and transfer tracking.

Is MoneyGram Secure?

MoneyGram prioritizes security through:

• Global Licensing: Fully licensed in all operational countries.
• Regulatory Compliance: Adheres to anti-fraud measures and money laundering prevention.
• Compliance Investments: Spends $50 million annually on compliance programs.

Customer Reviews

Positive Feedback

• Fast and reliable transfers.
• Secure platform with stringent verification processes.

Negative Feedback

• Complaints about high fees and exchange rates.
• Issues with account closures and inconsistent customer service.

Alternatives to MoneyGram

Banks

• Advantages: Secure and reliable.
• Disadvantages: Higher fees and poor exchange rates.

Traditional Services (e.g., Western Union)

• Advantages: Similar reach and reliability.
• Disadvantages: Fees may still be high compared to online platforms.

Online-Only Services (e.g., Wise, PayPal)

• Advantages: Lower fees and better rates.
• Disadvantages: Limited physical presence.

Frequently Asked Questions About MoneyGram

Can I avoid paying MoneyGram’s fees?

While fees cannot be entirely avoided, choosing bank account transfers or initiating transfers online can reduce costs.

How much does it cost to send money with MoneyGram?

Costs depend on the amount, destination, payment, and delivery method. Use the fee calculator on MoneyGram’s website for an estimate.

Is it safe to send money with MoneyGram?

Yes, MoneyGram complies with global regulations and uses robust security measures to protect user data.

How do I cancel a transaction with MoneyGram?

Contact MoneyGram support via their website or email to request a cancellation.

How to Contact MoneyGram

• Email: customerservice@moneygram.com
• Contact Form: Available on the MoneyGram website.

Conclusion

MoneyGram remains a trusted and widely accessible money transfer service. While its fees and exchange rates may not be the most competitive, its speed, reliability, and extensive global reach make it a viable option for urgent international transfers. Always compare rates and fees before committing to ensure you get the best value for your money.