Wise vs MoneyGram: Fees, Rates & Speed Compared
Wise ahead on GBP → EUR, USD → PHP, USD → MXN, USD → NGN; MoneyGram on USD → INR, GBP → PKR.
Wise
Won 4 of 6 routes here
4.3
MoneyGram
Won 2 of 6 routes here
4.0MoneyGram is a cash-agent network; Wise is a bank-deposit specialist with a stated fee and no markup. The two rarely compete on the same terms: MoneyGram sells reach into places without a bank account, while Wise sells a transparent rate for a recipient who has one. Wise's 0% markup makes it the cheaper option on the corridors we measure whenever a bank deposit works for the recipient.
Live comparison: Wise vs MoneyGram across popular corridors
Recipient payout route by route, Wise against MoneyGram, from collected quotes (not guaranteed).
| Corridor | Wise | MoneyGram | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹96,100.73 | ₹96,501.33 | MoneyGram (+₹400.60) |
| GBP → EUR(£1,000) | €1,175.46 | €1,168.04 | Wise (+€7.42) |
| USD → PHP($500) | ₱31,337.69 | ₱31,163.29 | Wise (+₱174.40) |
| USD → MXN($1,000) | MX$18,119.03 | MX$17,982.03 | Wise (+MX$137.00) |
| GBP → PKR(£500) | ₨182,561.49 | ₨183,454.32 | MoneyGram (+₨892.83) |
| USD → NGN($200) | ₦269,861.60 | ₦263,345.06 | Wise (+₦6516.54) |
Key differences between Wise and MoneyGram
Wise vs MoneyGram: Feature comparison
| Feature | Wise | MoneyGram |
|---|---|---|
| Overall rating | 4.3/5 (Excellent) | 4.0/5 (Good) |
| Fee structure | Variable fee from 0.41% | From $1.99 to $11.99+ |
| Exchange rate markup | 0% (mid-market rate) | 1% - 3% above mid-market |
| Transfer speed | Instant to 2 days | Minutes to 3 days |
| Supported countries | 80+ | 200+ |
| Supported currencies | 50+ | 50+ |
| Max transfer | $1,000,000 | $10,000 |
| Delivery methods | Bank Deposit, Wise Account | Bank Deposit, Cash Pickup, Mobile Wallet |
| Regulators | FCA, FinCEN, ASIC | FinCEN, FCA |
The quoted bank credit and the collection journey
For a recipient with an account, compare the Wise bank payment against the bank option offered in MoneyGram’s checkout. A MoneyGram cash quote can remain a useful alternative, but it belongs to a separate receiving plan.
If the recipient chooses collection, confirm the exact agent and documents before comparing convenience. If they choose a bank credit, copy the receiving account instructions into both quote flows. This prevents a cheap but unusable payout method from determining the apparent winner.
What we measured: Wise vs MoneyGram
Wise led on 23 of 97 of the corridors we price against 0 of 60 for MoneyGram, with average shortfalls of 3.05% and 3.15% respectively. Wise is among the most consistent leaders in our data; MoneyGram trails by the cash-network premium.
India at $1,000: the MoneyGram premium in rupees
Send $1,000 from the US to India and the recipient's payout differs by ₹401, MoneyGram ahead. All-in, Wise costs 0.68% of the transfer and MoneyGram 0.27%. MoneyGram's figure carries a 1-3% rate margin that rises with the amount; Wise has no margin to rise, so its share falls as the transfer grows.
When to choose Wise vs MoneyGram
Pick Wise for bank-to-bank transfers of any size
If the recipient has an account that can receive a deposit, Wise is the cheaper route on the corridors we measure, scaling to $1,000,000 with balances in 50 currencies and regulation by the FCA, FinCEN and ASIC.
Pick MoneyGram when cash or coverage decides it
A recipient with no account, or one in a country beyond Wise's 80, is a MoneyGram customer by default — its agents cover roughly 200. That reach is paid for in the rate, and our measurements put a real number on the premium.
What the Wise and MoneyGram figures don’t settle
MoneyGram prices by agent, payout method and location, and Wise's charge moves with the currency pair and how you pay. Confirm your specific sending country and payout method before sending.
Verdict: Wise or MoneyGram?
Cost: Wise vs MoneyGram on measured quotes
Wise led 23 of 97 of the corridors we price against 0 of 60 for MoneyGram. Everything Wise charges shows up as its fee; MoneyGram funds its counters with a 1-3% spread inside the rate.
Speed: Similar delivery times
MoneyGram can put cash in a hand within minutes at a staffed counter, something Wise cannot do at any speed. Wise's fastest deposits land instantly, its slowest in about two days.
Wider coverage: MoneyGram
Around 200 countries of MoneyGram agents against Wise's 80 of bank payouts. Wise answers with size: a $1,000,000 ceiling where MoneyGram stops at $10,000.
Bottom line
If the recipient banks, Wise's zero-markup rate wins clearly. If they don't, or need cash today, MoneyGram isn't competing on price — it's the only option that exists.
Wise vs MoneyGram: your questions
Is MoneyGram ever cheaper than Wise in your data?
Rarely, on our measurements — with no margin in its rate, Wise stays in front on most routes. MoneyGram earns its place through reach: a recipient without a bank account, or a destination Wise doesn't serve.
If my recipient has a bank account, is MoneyGram's deposit option any cheaper?
MoneyGram does pay into bank accounts, but the 1-3% margin comes with that payout too. For a banked recipient, the saving sits with Wise.
Why compare a cash network against a bank-deposit specialist at all?
Because many senders don't know in advance whether their recipient has a bank account, and this page shows what that choice actually costs once it's made either way.
Does Wise offer any cash pickup option?
None. Every Wise transfer ends in an account, whatever the amount. A cash recipient needs MoneyGram.