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MoneyGram Review

Reviews 41,004
MoneyGram
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MoneyGram
MoneyGram
Excellent
Reviews 41,004
Bestmoney Staff
Sep. 22, 2021
3 min read
BestMoney Staff
MoneyGram Summary
MoneyGram is a leading global provider of money transfer and payment services that enables consumers to send money around the world and pay bills in the U.S. Founded in 1940, it is now the second largest money transfer company on the planet, with more than 350,000 agent locations around the world. It offers transfer services across multiple channels including online, mobile app, bank accounts, and more.

Pros

  • Excels at transfers with cash pick-up
  • Same-day delivery to many countries
  • Available almost everywhere in the world

Cons

  • Fees can be high, depending on transfer type and destination
  • High international conversion fees

MoneyGram at a glance

9.2
Editorial score

Fees?

% of transfer or flat rate
8.0

Transfer time

Under an hour
10.0

Customer service

Help from an agent over the phone or through live chat available
8.0

Security

Regulated and encrypted secure transfers, biometric entry and multi factor authentication for account
10.0

Online and mobile experience

Excellent site and app with transparency of rates, mobile transfers and transfers from credit cards as well as bank accounts
10.0

MoneyGram Fees and Rates

MoneyGram's fee structure varies by payment method, amount, receive method, and destination. To get an estimate of fees, simply use their calculator, state whether you’re transferring the money online or in person, the recipient’s location, and the amount. For example, sending $500 online from the US to the UK direct to a UK bank account would incur a fee of $7.99 from a debit or credit card, but there would be no fees if it was sent as a bank transfer. If the cash pickup option was chosen, the fees would change slightly: the transfer fee from a debit or credit card would be $9.99, or if it was sent through a bank transfer it would cost $4.99. This example rate is accurate as of September 2021, with all rates subject to change based on location and when the quote was obtained.

How Does It Work?

Anyone can use MoneyGram to send money in person, online, mobile app, or via Facebook messenger. Money can be sent to a MoneyGram agent location for cash pick-up, to a bank account or debit card, or to a mobile wallet.

Sending money online involves the following steps:

  • Create a MoneyGram profile with your email address and a password of your choice.
  • Go to the Estimate Fees page to estimate costs for your transfer and to see currency exchange fees, if applicable.
  • Make the payment. If paying by credit or debit card, enter your card details.
  • To track the status of your transfer, simply log back in and view your transaction history.

Sending money from a physical location works similarly:

  • Go to any one of the tens of thousands of MoneyGram locations around the world.
  • Pay by cash (the only payment accepted for in-person transactions)
  • Use the Track a Transfer tool to see the status of your transfer using your authorization number or reference number.

How Long Does It Take?

When sending money to be picked up as cash, it usually takes only a few minutes for the cash to be available for pickup at a MoneyGram location at the receiving end. This is true for all cash pickup situations, regardless of the payment method used by the sender or the location of the recipient. Of course, this is also subject to the operating hours of the MoneyGram location where the recipient picks up the cash and compliance with regulatory requirements.

When sending money to someone’s bank account, it can take anywhere from a few minutes to next day delivery. For example, bank transfers are usually received in as little as 1 hour for recipients in Canada, China, El Salvador, Guatemala, Honduras, and Mexico.

MoneyGram Top Highlights

As one of the world’s oldest and most respected money-transfer companies, MoneyGram stands out for a number of reasons:

  • Several receiving methods, including: bank account, cash pickup, and mobile wallet dependent on destination country
  • Can be used to transfer money in-country and abroad
  • Ability to pick up cash in dozens of currencies including US dollars, euros, GBP, Mexican pesos, and Indian rupees.
  • Ability to track payments until they’re safely in the recipient’s hands.
  • MoneyGram Plus Rewards loyalty program allows consumers to enjoy discounts, special offers and promotions.
  • 24/7 user support

Consumer Support

MoneyGram has received strong feedback for its 24/7 user support. It offers an extensive FAQ page with answers to most questions. The team can be contacted via the Live Chat tab on the right-hand side of the screen on the MoneyGram website, and by toll-free number from most countries.

Privacy and Security

MoneyGram is a safe and reliable way of sending money in-country or abroad. When you submit a transfer, you receive an email or SMS with your reference number so you and your recipient can track the money transfer. MoneyGram says it authenticates consumers’ identities to ensure personal and financial safety and to prevent fraud.

Bottom Line

MoneyGram is a respected global provider of money transfers and other payment services. Its doors are open to consumers from all around the world via website, mobile app, and its physical locations. It enables consumers to send money to bank accounts or to physical locations for cash pickup, with turnaround times ranging from just a few minutes to next-day delivery at most. MoneyGram is completely transparent about fees and charges, and even allows consumers to track transfers through to their final destination.

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.
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Trustpilot reviews
See what some customers are saying about MoneyGram
Excellent • Reviews 41,004
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Excellent
73%
Great
12%
Average
4%
Poor
2%
Bad
9%
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Sort by
An
Anne
5 hours ago
The service is amazing
The service is amazing
Di
Diana
6 hours ago
Moneygram never disappoints
I've been using moneygram for years now and with the app it's even easier to transfer money to family and friends. I don't know what it is, maybe the great marketing, Moneygram never disappoints.
AK
AK
12 hours ago
Excellent service
Excellent service , very happy with it , if any one wants to transfer money abroad must try it , highly recommend 👍
En
Enkhamgalan
13 hours ago
After I installed the app it's so easy…
After I installed the app it's so easy sending a money. Not going to Walmart. I can using anytime. ( Even day time or even evening time) .Safe time and dates. I'm so happy. Thank you Moneygram.
CB
C B
15 hours ago
So far so good!
So far so good, nice easy transfer without to much fuss, thanks
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