MoneyGram International Money Transfers

Send cash overseas to over 197 countries with MoneyGram.

MoneyGram is a money transfer service operating in over 190 countries. They’re powered by global foreign exchange leader OFX, and with them you can send money via an online bank transfer straight to your recipient’s account, or from one of thousands of agent locations to other locations or bank accounts around the globe.

Because MoneyGram allows cash pick up in a huge range of popular and exotic locations, it’s perfect for sending cash to relatives without bank accounts or travelling friends and family who need urgent funds.

If you're sending cash through a MoneyGram agent it can be available to pick up in as little as 10 minutes in some cases, meaning if you need to send money in a hurry you can.

MoneyGram exchange rates

As mentioned, MoneyGram is powered by OFX, a leading money transfer provider in Australia with competitive fees and exchange rates. You can see a comparison of MoneyGram’s exchange rates below.

^{Comparison accurate at time of writing 16/10/14 2:00PM EST.}

As can be seen, MoneyGram offers competitive rates compared to banks, and even other money transfer services. Keep in mind that the above comparison doesn’t take into account fees. Read on to see a common transfer and the fees you’d be charged for it.

How much does it cost to transfer money with MoneyGram?

MoneyGram has a simple fee structure. If you’re transferring under AUD$10,000, you’ll be charged a flat fee of AUD$15 per transfer.

Transfers over $10,000 come with no transfer fees.

If you transfer regularly you can also make use of MoneyGram’s ‘bundle’ feature, which you can purchase in advance.

The way it works is simple, if you bundle four transfers together, you’ll pay $11.25 per transfer rather than $15. If you bundle 15 transfers together you’ll pay $9 per transfer, meaning a saving of $90. The table below shows different savings for different bundle amounts.

Minimum transfer amount and available countries

MoneyGram has a minimum transfer amount of $250, meaning it can’t be used for small transfers, and has a large maximum of $100,000.

Money transfers through MoneyGram are available in 197 countries, and the following currencies are supported:

What types of transfers can you carry out with MoneyGram?

MoneyGram allows a range of transfers which cater to all users, including:

• Spot transfers. These are transfers which allow you to lock in a spot rate and then make your transfer within two days. This means you can select a competitive rate and make a transfer when you’re ready.
• Limit orders. A limit order allows you to specify an exchange rate you want, and then wait until your rate is reached. Only then will your transfer be carried out, meaning you get to make a transfer at the rate which satisfies you. There’s a minimum amount of $30,000 with this type of transfer with MoneyGram.
• Forward contracts. A forward contract basically refers to you being able to lock in a rate now for a transfer in the future. MoneyGram allows you to settle in as little as two days or as long as 12 months, and is available for amounts above $30,000.
• Regular transfers. You can schedule regular transfers with MoneyGram in the event that you need to make regular transfers overseas. If you have fixed payments you can lock in an exchange rate upfront, or if you have non fixed payments, your rate will vary as per usual.

The MoneyGram registration and transfer process

To start making money transfers with MoneyGram, you need to register for a free account on the MoneyGram website. The registration will require you to enter in a few details about yourself, including whether you’ll be making bank account to bank account transfers or cash transfers.

You’ll also need to enter in your name and details about where you live, as well as some basic information about the transfers you plan to make.

Once this is complete you’ll receive an email and a phone call from MoneyGram to finalise your registration.

Money transfers with MoneyGram

If you’re making a transfer, you can do so with cash in person at a MoneyGram Branch, or online.

Cash transfers

To conduct a cash transfer with MoneyGram you’ll have to find a MoneyGram agent, bring some identification, including a passport or driver’s licence, and then complete the money transfer form. You’ll then need to contact the recipient and give them the reference number.

In Australia, you can make cash transfers at 7-Eleven stores, Global Speedlink and more.

Online transfers

Sending money to a bank account overseas with MoneyGram is also simple. All you need to do is log in to your account and specify the amount you’re transferring, and then accept the quote.

Then, you’ll need to send MoneyGram the money, and they’ll send it to the recipient. Money is usually transferred to the recipient within one to two days of sending it to MoneyGram.

Pros and cons of using MoneyGram

Frequently asked questions about MoneyGram money transfers