XE vs MoneyGram: Fees, Rates & Speed Compared
XE
4.4XE is a trusted name in currency exchange, offering international money transfers with competitive rates and no transfer fees for most corridors.
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.
XE and MoneyGram are both popular choices for international money transfers, but they take different approaches. XE, founded in 1993 and headquartered in Newmarket, Canada, is best known for large transfers and business payments. MoneyGram, operating since 1940 from Dallas, USA, focuses on cash pickup and global coverage. 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 £500 GBP → PKR transfer, MoneyGram delivers ₨12119.62 more to the recipient.
In this comparison
Live comparison: XE vs MoneyGram across popular corridors
The table below shows how much the recipient receives when sending through XE vs MoneyGram on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | XE | MoneyGram | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹90,923.43 | ₹93,613.41 | MoneyGram (+₹2689.98) |
| GBP → EUR(£1,000) | €1,144.96 | €1,141.62 | XE (+€3.34) |
| USD → PHP($500) | ₱27,988.60 | ₱30,197.38 | MoneyGram (+₱2208.78) |
| USD → MXN($1,000) | MX$16,747.28 | — | N/A |
| GBP → PKR(£500) | ₨171,761.85 | ₨183,881.47 | MoneyGram (+₨12119.62) |
| USD → NGN($200) | — | ₦274,881.91 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between XE and MoneyGram
XE vs MoneyGram: Feature comparison
| Feature | XE | MoneyGram |
|---|---|---|
| Overall rating | 4.4/5 (Excellent) | 4.0/5 (Good) |
| Fee structure | No transfer fees | From $1.99 to $11.99+ |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 1% - 3% above mid-market |
| Transfer speed | 1-4 business days | Minutes to 3 days |
| Supported countries | 130+ | 200+ |
| Supported currencies | 130+ | 50+ |
| Max transfer | $500,000 | $10,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer, Debit Card, Credit Card, Cash |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Wallet |
| Regulators | FCA, FinCEN, ASIC, FINTRAC | FinCEN, FCA |
| Founded | 1993 | 1940 |
Pros and cons
XE
Pros
- Well-known and trusted brand
- No transfer fees for most transfers
- Supports 130+ currencies
- Rate alerts available
- Excellent currency data and tools
Cons
- Exchange rates include a markup
- No cash pickup option
- Transfer speed can be slow
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
When to choose XE vs MoneyGram
Choose XE if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (XE supports up to $500,000)
- You want to lock in an exchange rate with a forward contract
- You need a business account for commercial payments
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 130+ countries)
- Speed is your top priority — transfers can arrive in minutes
Verdict: XE or MoneyGram?
Cost winner: MoneyGram
MoneyGram wins on cost in 3 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹2689.98 more with MoneyGram. MoneyGram achieves this through transparent pricing with the real mid-market exchange rate.
Faster: MoneyGram
MoneyGram is generally faster, with transfers arriving in Minutes to 3 days, compared to 1-4 business days for XE.
Coverage: Comparable reach
Both providers have comparable coverage. XE supports 130+ countries and 130+ currencies, while MoneyGram covers 200+ countries with 50+ currencies.
Bottom line
Overall, MoneyGram edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, XE is the better pick if you need large transfers and business payments.
Frequently asked questions
Is XE or MoneyGram cheaper for international transfers?
Based on our data, MoneyGram is generally cheaper across most corridors. MoneyGram charges From $1.99 to $11.99+ with a 1% - 3% above mid-market exchange rate markup, while XE charges No transfer fees with a 0.5% - 1.5% above mid-market markup. For example, on a $1,000 USD → INR transfer, MoneyGram delivers ₹2689.98 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, XE or MoneyGram?
XE typically completes transfers in 1-4 business days, while MoneyGram takes Minutes to 3 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 XE and MoneyGram safe to use?
Yes, both are regulated money transfer services. XE is regulated by FCA, FinCEN, ASIC, FINTRAC and has a 4.4/5 Trustpilot rating. MoneyGram is regulated by FinCEN, FCA with a 4.0/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for XE vs MoneyGram?
XE has a maximum transfer of $500,000 (minimum $1), while MoneyGram allows up to $10,000 (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 XE or MoneyGram?
XE offers Bank Deposit. MoneyGram offers Bank Deposit, Cash Pickup, Mobile Wallet. MoneyGram supports cash pickup for recipients without bank access.
Should I use XE or MoneyGram to send money internationally?
For most users, MoneyGram offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, XE is the better choice if you need large transfers and business payments. The best provider for you depends on your corridor, transfer size, and whether you need features like Mobile Wallet.