![]() To know if you are getting a competitive rate you have to calculate the percentage difference from the interbank rate which we show here. In our testing, the exchange rate margin can be quite competitive (to some countries like India) but can also exceed 5% of the interbank rate (which is very high) for some currencies and countries. This is often the largest part of transfer. Online bank accounts are the least expensive and debit/credit cards are more.įees vary for cash. The small fixed fee can range from $0.00 to $14.99 depending a lot on your funding method. MoneyGram says, “our global network includes more than 400 banks around the world” which should mean these fees do not exist. Here is a short video we made to help explain fees: Bank Receiving Fee + Other Hidden Fees?.You might also like Ria VS MoneyGram VS Western Union where we found both Money Gram and Western Union do have dedicated business accounts. MoneyGram doesn’t offer dedicated business accounts to pay your overseas employees. MoneyGram limit transfers to $3000 USD per month. We cover this more in a moment and also suggest some alternatives. Moreover, their fee structure is complex and not as transparent as some others. There’s a flip-side to MoneyGram’s worldwide presence – they command premium fees in many currencies. ![]() These payments are usually settled instantly and your recipient can access the funds within 15 minutes. MoneyGram not only supports instant cash transfers, you can also send money directly to your recipient’s debit card or mobile wallet. You can check the list of supported receiving countries and available currencies from your location on MoneyGram’s pricing calculator. MoneyGram supports transfers to many developing countries as well as island nations in Asia and Africa. Sending money to almost anywhere including remote locations in exotic currencies. With MoneyGram you can pay your friends and family with: cash payouts, mobile wallet transfers, bank transfers, home delivery), pay bills, and top up prepaid mobiles. MoneyGram can be convenient but that does come at a price! 2.1 When It Works They support sending and receiving money to and from over 200 countries (including many developing countries and island nations) in 100+ currencies (both major and exotic currencies). When MoneyGram Works (and When It Doesn’t) If you don’t see an agent office near you to send money, you can always opt for an online transfer however there are other services in the next section which you should consider. Now, filter based on your needs to find the right MoneyGram kiosk/agent office near you.After the list populates, you’ll see an option to “filter by service” (Send Money, Receive Money, Pay bill, Add Minutes to Phone).Go to the “ Find a location” tab on MoneyGram’s website.So before you make a trip to your nearest MoneyGram kiosk/agent office, here’s an easy way to find out whether the specific spot offers the services you need. While MoneyGram has over 350,000 agent locations in its supported sending and receiving countries, not all agent offices are a one-stop shop for all services offered by MoneyGram. ![]() Typically, MoneyGram sending and receiving kiosks are integrated with many Walmarts in the US, throughout the UK, Shoppers/Canada Post in Canada and 7-Elevens in Australia. When MoneyGram Works (and When It Doesn’t).For more information, see our disclosures here. Many might save you money and we sometimes suggest deals that can make things even cheaper. Not all agent locations support all available services (See “ MoneyGram near me” below)ĭisclosure: This post contains affiliate links.Limited funding options outside US and Canada (only debit or credit card only | only cash at agent location).Complicated fee structure (See “ Rates, Fees & Hidden Costs” below).Strong presence in North America, UK, Europe, and Australia.Supports cash payouts in most countries with home delivery in some.Widely available – send money to and from 200 countries (over 350,000 agent locations world wide).I will uncover the good, the bad and I even dig into the ugly, so that you can make the best call. This is not just another “MoneyGram is awesome” type review, I am going to show you where MoneyGram may not be the best option and even who else to consider. ![]() In 5 minutes or less I am going to show you 8 things to consider to see if you can trust MoneyGram for your money transfers. ![]()
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