MoneyGram Money Transfer: A Review

If you need to send money to someone based abroad, you’ll be looking for the best service for your payment. MoneyGram is a global brand with locations all over the world, and an active online presence. You can send money through a variety of routes, with services varying a little between locations.

Finding a convenient, safe and inexpensive way to send money overseas will require a bit of research. This guide is a great way to start, giving you an overview of MoneyGram, including the fees, exchange rates, processes you’ll want to understand and how to find the nearest MoneyGram branch.

How MoneyGram Works: A Review

MoneyGram allows customers to send money to friends and family overseas, online or by visiting an agent location. There are agents active in over 200 countries and territories, helping customers move money all over the world.

Before we start, it’s good to note that MoneyGram is a global business, and the exact services available will vary depending on where in the world you are. For example, while the core services available are the same in the US compared to the UK, there are a few additional payment options available in the US, such as sending money via a Kiosk. This guide will focus on the core money transfer services available – check the local MoneyGram website in your location to get the full range of options.

How to send money with MoneyGram

Here’s what you need to do to send money through the main routes offered by MoneyGram – online and via an agent location.

Sending money with MoneyGram online 

To send money online with MoneyGram, you’ll need to take the following steps:

  • Register or log in to MoneyGram – you may need to verify your identity at this stage
  • Confirm who you’re paying from your list of previous recipients, or enter the details if it’s a new payment
  • Enter and check the amount, currency, and fees
  • Click to confirm, and process the payment. In the US you can pay with credit or debit card, or using a bank transfer – in the UK you can pay with credit card, debit card, or Sofort

Sending money with MoneyGram from an agent location

MoneyGram has thousands of agent locations all around the world. Here’s how to send money in person via an agent:

  • Find a convenient agent location near you – there are tools on the local MoneyGram websites to help with this
  • Show your own valid ID to arrange a payment
  • Give the agent the details of the payment, including your recipient’s full name, location, and the amount you want them to receive
  • Pay for the money transfer, plus the fees, in cash
  • You’ll be given a reference number, which you must give the recipient to allow them to collect their payment

How to receive money with MoneyGram

If you have been sent money as a direct payment to your bank account, you won’t need to take any further action. The money will arrive in your bank account once the payment is processed.

If you’re collecting your payment in cash, you’ll need to take the following steps:

  • Find a convenient agent location using the online tools available, including MoneyGram websites 
  • Take along your valid government issued ID, and the reference number given to you by the sender. You might also need to prove your address with a bank statement or utility bill
  • Show your ID and reference number to the agent – you may need to complete a form to do this – and you’ll be given your money in cash

MoneyGram exchange rate

You’ll be able to see the exchange rate offered for your transfer by MoneyGram, when you estimate the fees online. It’s worth noting that the exchange rate used may vary according to the payment route you choose – a different rate may be applied for cash pickup compared with a direct payment to a bank account, for example. 

You may also find that MoneyGram adds a markup to the mid-market exchange rate. 

The mid-market exchange rate is the one that you’ll find on Google, and the rate Moneygram will have received when they buy currency themselves. It’s common for banks and other currency and payment services to add a markup to their exchange rates, which they can then keep as additional profit. However, this can make it hard to see the full fee you’re paying for the service – and can mean your transfer is more expensive than you expect, if you’ve been looking at the exchange rate for your currency on Google.

MoneyGram fees

When you estimate the costs of your transfer with MoneyGram, you’ll be able to see a breakdown of the costs and exchange rates available for each payment type. 

It’s good to know that there may be other fees you can’t easily estimate prior to the payment being made. For example, your recipient’s own bank, or your credit card issuer might charge a fee, which is out of the control of MoneyGram. These costs are often known as third party fees.

Let’s take a look at an example, to show the types of fees you need to pay attention to. 

Payment of USD1,000 to a UK recipient Exchange rate Fee Sender pays Recipient gets
Pay from your bank account, direct to recipient’s account 1USD = 0.7809GBP No upfront fee

Check for exchange rate markups, and third party fees

USD1,000 GBP780.94
Pay from your debit or credit card direct to recipient’s account 1USD = 0.7809GBP USD2.99

Check for exchange rate markups, and third party fees

USD1,002.99 GBP780.94
Pay from your bank account, for cash collection 1USD = 0.7587GBP USD4.99

Check for exchange rate markups, and third party fees

USD1,004.99 GBP758.80
Pay from your credit or debit card, for cash collection 1USD = 0.7587GBP USD14.99

Check for exchange rate markups, and third party fees

USD1,014.99 GBP758.80


*Fees and exchange rates are correct at the time of research – 21st April 2020. Check online for up to date information.

If you’d rather make your payment at an agent location, you’ll need to visit the agent in person to get a quote for the transfer. Agent fees and exchange rates are not available online.

MoneyGram Pros & Cons 

Choosing the best currency service for your payment will require a bit of research. There are many different options, so taking a look at the fees and features of a few of them will help you find one which suits your needs. Here are some pros and cons of MoneyGram to help kickstart your research:


  • Send money online or in person – cash collection is convenient if you need to make a payment quickly, or to someone without access to a bank account
  • Some payment types are available within minutes
  • Global presence, and a well established brand


  • You may pay an exchange rate markup as well as any transfer fee
  • Transfer fees vary according to payment type and destination – check the full range of options available
  • You can’t estimate the costs of using an agent location online – you’ll need to visit one in person to get a quote

MoneyGram exists to help customers make international payments through a variety of routes, and in almost every country and territory in the world. Check out the costs of a MoneyGram payment, and compare them to alternatives to see if it’s the right service for you. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.