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  Review of MoneyGram international money transfer services

MoneyGram is the second largest provider of international money transfer services, its network consists of 350,000 agent locations in more than 200 countries. It's characterized by high speed of transfers and a variety of available for them channels.

The following prices are valid at the end of 2020 and the beginning of 2021.

transfer money abroad with MoneyGram
 Additional information from MoneyGram  

how MoneyGram money transfer works

MoneyGram: fast money transfers and extensive network.

As already mentioned, MoneyGram is the second largest provider of international money transfers after WesternUnion with a well-developed agent network. It supports both standard (from / to a bank account or card) transfers and also cash transfers to or from its physical locations with an option of home delivery and, for some markets, to the receiver's mobile wallet account. But you have to pay quite a bit for all these features, so MoneyGram's fees are higher than those of the majority of its competitors.

The MoneyGram site is easy to use and translated into many languages, the answers to frequently asked questions are concise and definite. Unfortunately it's indicated, that its calculator shows only the estimated total cost based on variable exchange rates without (?!) final fees. The user can get support both by phone and via e-mail / feedback form.
channels and options of MoneyGram international money transfers

Channels and options of MoneyGram international money transfers.

From many countries, it is possible to transfer money abroad through the site or mobile application using a bank account, credit or debit cards. Unfortunately, from some countries you can only send cash transfers from MoneyGram locations.

You can send money to pickup locations, to a bank account or card, in some countries, to a mobile wallet or cash can be delivered to the recipient's home address.
MoneyGram transfer abroad pros

MoneyGram pros.

As a rule, transfers with MoneyGram are fast: cash can be received within a few minutes, but sometimes bank working hours and other factors may interfere with the process.

A wide network of agent locations makes it possible to transfer and receive cash with no need for a bank account or card.

The Ability to use only cash to send and receive transfers can be considered the main advantage of MoneyGram.
MoneyGram money transfers cons

MoneyGram cons.

MoneyGram charges a relatively low transfer fee, which depends on the amount of money to be sent, the sender's and receiver's countries and so on, but in addition, there are markups on currency exchange rates, ranging from 3 to 10%.

Somehow the total costs can only be approximately estimated with the MoneyGram calculator.

The maximum transfer amount is limited to $10,000 (for online transfers for a transfer or per month).
 Additional information from MoneyGram  

international currency transfers
the main competitors of MoneyGram

The main competitors of MoneyGram on the market of international money transfers.

The main competitors of MoneyGram are OFX, Wise (Formerly TransferWise), Azimo, Remitly, Ria, WesternUnion and Xoom (a subsidiary of PayPal). You can read our reviews on most of them by following the corresponding link.

 The best ways to send money abroad  
send money internationally
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