MoneyGram vs XE: Fees, Rates & Speed Compared
MoneyGram
3.7MoneyGram is a global money transfer company with a large agent network, offering both online and in-person transfer options to 200+ countries.
XE
4.3XE is a trusted name in currency exchange, offering international money transfers with competitive rates and no transfer fees for most corridors.
MoneyGram and XE 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. XE, operating since 1993 from Newmarket, Canada, focuses on large transfers and business payments. 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 $1,000 USD → INR transfer, MoneyGram delivers ₹266.84 more to the recipient.
In this comparison
Live comparison: MoneyGram vs XE across popular corridors
The table below shows how much the recipient receives when sending through MoneyGram vs XE on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | MoneyGram | XE | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹93,933.32 | ₹93,666.48 | MoneyGram (+₹266.84) |
| GBP → EUR(£1,000) | €1,135.38 | €1,145.54 | XE (+€10.16) |
| USD → PHP($500) | — | — | N/A |
| USD → MXN($1,000) | MX$17,095.45 | MX$17,113.36 | XE (+MX$17.91) |
| GBP → PKR(£500) | — | — | N/A |
| USD → NGN($200) | ₦269,371.70 | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between MoneyGram and XE
MoneyGram vs XE: Feature comparison
| Feature | MoneyGram | XE |
|---|---|---|
| Overall rating | 3.7/5 (Good) | 4.3/5 (Excellent) |
| Fee structure | From $1.99 to $11.99+ | No transfer fees |
| Exchange rate markup | 1% - 3% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | Minutes to 3 days | 1-4 business days |
| Supported countries | 200+ | 130+ |
| Supported currencies | 50+ | 130+ |
| Max transfer | $10,000 | $500,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card, Cash | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Wallet | Bank Deposit |
| Regulators | FinCEN, FCA | FCA, FinCEN, ASIC, FINTRAC |
| Founded | 1940 | 1993 |
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
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
When to choose MoneyGram vs XE
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
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
Verdict: MoneyGram or XE?
Cost winner: XE
XE wins on cost in 2 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €10.16 more with XE. XE 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. MoneyGram supports 200+ countries and 50+ currencies, while XE covers 130+ countries with 130+ currencies.
Bottom line
Overall, XE edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, MoneyGram is the better pick if you need cash pickup and global coverage.
Frequently asked questions
Is MoneyGram or XE cheaper for international transfers?
Based on our data, XE is generally cheaper across most corridors. XE charges No transfer fees with a 0.5% - 1.5% above mid-market exchange rate markup, while MoneyGram charges From $1.99 to $11.99+ with a 1% - 3% above mid-market markup. For example, on a $1,000 USD → INR transfer, XE delivers ₹266.84 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, MoneyGram or XE?
MoneyGram typically completes transfers in Minutes to 3 days, while XE takes 1-4 business 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 XE safe to use?
Yes, both are regulated money transfer services. MoneyGram is regulated by FinCEN, FCA and has a 3.7/5 Trustpilot rating. XE is regulated by FCA, FinCEN, ASIC, FINTRAC 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 XE?
MoneyGram has a maximum transfer of $10,000 (minimum $1), while XE allows up to $500,000 (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 XE?
MoneyGram offers Bank Deposit, Cash Pickup, Mobile Wallet. XE offers Bank Deposit. MoneyGram supports cash pickup, which is useful when recipients don't have a bank account.
Should I use MoneyGram or XE to send money internationally?
For most users, XE offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, MoneyGram is the better choice if you need cash pickup and global coverage. The best provider for you depends on your corridor, transfer size, and whether you need features like Mobile Wallet.