MoneyGram vs Wise: Fees, Rates & Speed Compared
MoneyGram
4.0MoneyGram is a global money transfer company with a large agent network, offering both online and in-person transfer options to 200+ countries.
Wise
4.3Wise (formerly TransferWise) offers transparent, low-cost international money transfers using the real mid-market exchange rate with no hidden markups.
MoneyGram and Wise are both popular choices for international money transfers, but they take different approaches. MoneyGram, founded in 1940 and headquartered in Dallas, USA, is best known for cash pickup and global coverage. Wise, operating since 2011 from London, UK, focuses on transparent, low-cost transfers. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a $200 USD → NGN transfer, MoneyGram delivers ₦4958.72 more to the recipient.
In this comparison
Live comparison: MoneyGram vs Wise across popular corridors
The table below shows how much the recipient receives when sending through MoneyGram vs Wise on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | MoneyGram | Wise | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹94,159.66 | ₹95,107.78 | Wise (+₹948.12) |
| GBP → EUR(£1,000) | €1,157.41 | €1,164.77 | Wise (+€7.36) |
| USD → PHP($500) | ₱30,619.75 | ₱30,517.92 | MoneyGram (+₱101.83) |
| USD → MXN($1,000) | MX$16,777.71 | MX$16,931.30 | Wise (+MX$153.59) |
| GBP → PKR(£500) | ₨187,437.25 | ₨185,382.51 | MoneyGram (+₨2054.74) |
| USD → NGN($200) | ₦277,889.41 | ₦272,930.69 | MoneyGram (+₦4958.72) |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between MoneyGram and Wise
MoneyGram vs Wise: Feature comparison
| Feature | MoneyGram | Wise |
|---|---|---|
| Overall rating | 4.0/5 (Good) | 4.3/5 (Excellent) |
| Fee structure | From $1.99 to $11.99+ | Variable fee from 0.41% |
| Exchange rate markup | 1% - 3% above mid-market | 0% (mid-market rate) |
| Transfer speed | Minutes to 3 days | Instant to 2 days |
| Supported countries | 200+ | 80+ |
| Supported currencies | 50+ | 50+ |
| Max transfer | $10,000 | $1,000,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card, Cash | Bank Transfer, Debit Card, Credit Card, Apple Pay |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Wallet | Bank Deposit, Wise Account |
| Regulators | FinCEN, FCA | FCA, FinCEN, ASIC |
| Founded | 1940 | 2011 |
Pros and cons
MoneyGram
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
Wise
Pros
- Uses real mid-market exchange rate
- Transparent fee structure shown upfront
- Multi-currency account available
- Fast transfers to many countries
- Regulated in multiple jurisdictions
Cons
- Credit card payments have higher fees
- No cash pickup option
- Transfer limits may apply for new accounts
When to choose MoneyGram vs Wise
Choose MoneyGram if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You need wider country coverage (200+ vs 80+ countries)
- Speed is your top priority — transfers can arrive in minutes
Choose Wise if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Wise supports up to $1,000,000)
- You need a multi-currency account to hold and convert balances
- You need a business account for commercial payments
Verdict: MoneyGram or Wise?
Cost: Too close to call
MoneyGram and Wise are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Speed: Similar delivery times
Both providers offer similar transfer speeds. MoneyGram typically delivers in Minutes to 3 days, while Wise takes Instant to 2 days. The actual speed depends on the corridor and delivery method.
Wider coverage: MoneyGram
MoneyGram has broader coverage with 200+ countries and 50+ currencies. MoneyGram also offers Bank Deposit, Cash Pickup, Mobile Wallet.
Bottom line
MoneyGram and Wise serve different needs well. MoneyGram is best for cash pickup and global coverage, while Wise excels at transparent, low-cost transfers. Your best choice depends on what matters most: cost, speed, coverage, or delivery options.
Frequently asked questions
Is MoneyGram or Wise cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows MoneyGram and Wise are closely matched on total cost. MoneyGram charges From $1.99 to $11.99+ with a 1% - 3% above mid-market exchange rate markup, while Wise charges Variable fee from 0.41% with a 0% (mid-market rate) markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, MoneyGram or Wise?
MoneyGram typically completes transfers in Minutes to 3 days, while Wise takes Instant to 2 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are MoneyGram and Wise safe to use?
Yes, both are regulated money transfer services. MoneyGram is regulated by FinCEN, FCA and has a 4.0/5 Trustpilot rating. Wise is regulated by FCA, FinCEN, ASIC with a 4.3/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for MoneyGram vs Wise?
MoneyGram has a maximum transfer of $10,000 (minimum $1), while Wise allows up to $1,000,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with MoneyGram or Wise?
MoneyGram offers Bank Deposit, Cash Pickup, Mobile Wallet. Wise offers Bank Deposit, Wise Account. MoneyGram supports cash pickup, which is useful when recipients don't have a bank account.
Should I use MoneyGram or Wise to send money internationally?
It depends on your priorities. Choose MoneyGram for cash pickup and global coverage, or Wise for transparent, low-cost transfers. We recommend comparing rates for your specific transfer amount and corridor using our calculator above.