MoneyGram review
MoneyGram is a global money transfer company with a large agent network, offering both online and in-person transfer options to 200+ countries.
Countries
200+
Currencies
50+
Speed
Minutes to 3 days
Fees
From $1.99 to $11.99+
Our verdict on MoneyGram
MoneyGram's strength is its massive 350,000+ agent network for cash-to-cash transfers — second only to Western Union. If your recipient needs physical cash and doesn't have a bank account, MoneyGram is one of very few reliable options. The fees are moderate ($1.99–$11.99) and exchange rates carry a 1–3% markup. It's not the cheapest option for bank-to-bank transfers — Wise, Remitly, and even MoneyGram's digital-first competitors beat it on price. But for cash pickup in remote locations across Latin America, Africa, and South Asia, MoneyGram fills a genuine need. The Stellar blockchain partnership is innovative but hasn't yet translated into meaningfully better pricing for consumers.
How we tested MoneyGram
We sent 6 test transfers through MoneyGram across 4 corridors (USD→MXN, USD→PHP, GBP→INR, USD→NGN) between January and March 2026, testing both online and the MoneyGram app. We compared bank deposit and cash pickup delivery for each corridor. Total costs were benchmarked against Western Union, Remitly, and Wise at the same time and amounts. Our automated system also collects MoneyGram exchange rates daily across 15+ corridors.
Is MoneyGram the right choice?
MoneyGram is the other incumbent cash network, reaching roughly 200 countries through agent locations in supermarkets, banks and post offices. Our data shows an unusual pattern for it, and it is worth stating plainly because it cuts against the obvious reading: MoneyGram essentially never comes first on price, yet its average cost is materially lower than Western Union's. It is a consistent mid-table provider rather than a cheap one or an expensive one, and the case for using it is almost always locational.
What we measured over the last 91 days
Over the last 91 days MoneyGram was the most frequent winner on 0 of 60 comparable corridors and won 0.7% of the contested days it quoted — effectively never first — while trailing the leader by 3.25% on average when it lost. That shortfall is smaller than Western Union's 3.80%, and its average all-in cost at $1,000, 1.47% across 50 corridors, is well below Western Union's 2.13%. So between the two legacy networks, Western Union wins outright more often and MoneyGram is cheaper on average — a genuine split that a simple "who is cheapest" ranking hides. At $100 MoneyGram cost 3.11%, a 1.65pp penalty.
When its agent is the convenient one
MoneyGram's argument is where its counters are. Roughly 200 countries, fees from $1.99, bank deposit and mobile wallet alongside cash, and on our figures a lower average cost and a tighter average shortfall than Western Union. If the recipient's nearest reliable collection point is a MoneyGram agent, that settles the question, and the pricing is not a reason to argue with it.
Never the cheapest, and capped at $10,000
MoneyGram was the usual leader on 0 of 60 comparable corridors in 91 days. On any corridor with digital competition there is a better payout available, and if the recipient can take a bank deposit you are paying a cash-network premium for nothing. Transfers cap at $10,000, against $50,000 at Western Union, and its currency list is roughly 50 against Western Union's 130.
Before you send with MoneyGram
Fees vary by corridor, payout method and funding method, and agent-level pricing is not something we observe, so the averages above are not a quote. Confirm the collection location, the agent's opening hours and the identification required before you send. If the recipient can receive a bank deposit or a mobile wallet payment, price those options too before defaulting to cash.
MoneyGram is ideal for
- Sending cash for pickup at physical agent locations in remote areas
- Transfers to Latin America, especially Mexico and Central America
- Users who prefer starting transfers in-store with cash
- Recipients without bank accounts or mobile money who need physical cash
- Crypto-savvy users interested in USDC/Stellar on-off ramp capabilities
- One-off urgent transfers where cash pickup speed matters more than price
MoneyGram may not be the best choice for
- Regular bank-to-bank transfers — Wise and Remitly are significantly cheaper
- Users who prioritize the best exchange rate above all else
- Large transfers over $10,000 — OFX or TorFX offer better rates with no limits
- In-store transfers — online is 50–70% cheaper in fees
- Transfers within Europe — Wise or Revolut cost a fraction of MoneyGram's price
- Business or corporate payments — not MoneyGram's focus
When to look past MoneyGram
- Western Union: Even larger agent network (500,000+) with similar cash-to-cash capabilities
- Remitly: Better exchange rates with cash pickup in 60+ countries and express delivery
- Wise: Mid-market rate with 0% markup — dramatically cheaper for bank deposits
- WorldRemit: Mobile money delivery to M-Pesa, MTN, GCash that MoneyGram doesn't match
- Xoom (PayPal): Similar delivery options backed by PayPal with competitive pricing
- TapTap Send: Zero-fee transfers to African and South Asian corridors
Pros
- Large global agent network
- Cash pickup available worldwide
- Transfers can arrive in minutes
- In-store and online options
- Crypto integration with Stellar
Cons
- Higher fees for smaller transfers
- Exchange rate markup can be steep
- Online experience less polished
MoneyGram features
MoneyGram transfer details
Published by MoneyGram. Not measured by us; MoneyGram’s limits and methods vary by country.
Compare MoneyGram
MoneyGram head-to-heads
Ready to send with MoneyGram?
Price MoneyGram on your own route first.
Where MoneyGram ranks best
Comparisons
- MoneyGram vs Western Union
- MoneyGram vs TorFX
- MoneyGram vs InstaReM
- MoneyGram vs ACE Money Transfer