MoneyGram is a well-known name in money transfers. It helps people in the U.S. send money to over 200 countries. This includes places like India, Jamaica, and the Philippines. MoneyGram’s services meet different needs.
Most customers like MoneyGram a lot—73% give it five stars. But, some doubt its size and how it compares to others like Wise and Currencies Direct. They worry about MoneyGram fees.
MoneyGram works with over 13,000 billers. It offers features like fee estimates and 24/7 monitoring. Plus, there’s MoneyGram Plus Rewards for big discounts.
It has a good rating of 4.4 out of 5. But, 9% of users gave it one star. This review will look into MoneyGram’s services, costs, and overall experience for international money sending.
Overview of MoneyGram Services
MoneyGram services help people send money across the globe. They serve over 200 countries and territories. You can send money online, through the MoneyGram app, or in person at 350,000 locations worldwide.
Setting up a MoneyGram account is easy. Logging in through the app makes sending money quick. You can send money to bank accounts or for cash pickups. MoneyGram’s options are great for sending money abroad.
MoneyGram does more than just money orders. They invest heavily in security and compliance, about $50 million a year. They are licensed in all 50 U.S. states, ensuring safe transactions.
It’s good to know about MoneyGram’s fees. Fees can change based on how much you send and where it goes. Sending up to $5,000 without fees is common. But, sending more or to different places might cost more.
Looking at other services like Wise or PayPal can help save money. This resource offers more details on MoneyGram’s costs. MoneyGram’s app and wide reach make it a solid choice for international money transfers.
Transaction Fees and Costs
When you send money across borders with MoneyGram, knowing the costs is key. The fees change based on where you’re sending money and how much. For example, sending $200 to Canada costs about $213, including fees and exchange rate markups. On the other hand, sending $1,000 to Germany costs around $1,010.
MoneyGram’s hidden fees, like its exchange rate markups, can really cut into what the person you’re sending money to gets. This is different from services like Wise, which use the mid-market exchange rate and have lower fees upfront. If you want to save money, it’s smart to compare MoneyGram fees with others.
- MoneyGram charges $2.99 for a $200 domestic transfer funded online with a debit card.
- Transfer costs may exceed 2% in rate markups.
- Users can send up to $10,000 every 30 days to most countries.
MoneyGram makes sending money easy, but it’s good to know all the costs. Knowing about MoneyGram’s fees helps you make smart choices when sending money abroad.
Speed of Transfers
MoneyGram is known for its fast transfers, making it a top choice for quick money moves. Most transactions are done in minutes. The speed depends on how you pay and where the money goes.
Using a debit card can make things even faster. This is a big plus compared to services like Wise. Wise can take up to four days, but MoneyGram usually takes two to four days. Yet, some Wise users say their money moves faster.
Here’s a quick look at how MoneyGram and Wise compare:
| Transfer Service | Average Transfer Speed | Available Countries | Typical Fee |
|---|---|---|---|
| MoneyGram | 2-4 days | 200 | $1.99 (varies by country) |
| Wise | Up to 4 days | 55 | 1.4% – 2.5% |
When looking at MoneyGram, getting money fast is key. This is even more important for places far from banks. Being able to send to mobile wallets adds to MoneyGram’s appeal.
Choosing the right service for international money moves is more than just speed. Fees and exchange rates matter too. For more fast global money transfer options, check out this resource. Knowing these details helps you pick the best for your needs.
Review of MoneyGram US for Transferring Money Internationally
The MoneyGram review shows mixed feelings from customers. People like its easy app and quick transactions. They say transfers can take just minutes.
MoneyGram is known for its wide reach, with over 200 countries and 350,000 locations. This makes it a solid choice for sending money abroad.
But, some users worry about hidden fees. Even though 73% gave it five stars, others are concerned about extra charges and bad exchange rates. These can make the money received less than expected.
It’s wise to compare MoneyGram with other services like Wise and OFX. Wise and OFX often have better rates and lower fees. This helps users make informed choices for their money transfers.
