MoneyGram vs Ria: Which is better? | finder.com.au

MoneyGram vs Ria

We compare two competing money transfer services on fees, rates and speed to get you the best deal.

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MoneyGram is a household name when it comes to international money transfers, but newer companies like Ria are offering competitive exchange rates to save you money. So how do they stack up next to each other? We look at their exchange rates, fees and transfer speeds to see.

The fees and rates used in this comparison are accurate as of 2 January 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2 1 - 2 days AUD 15.00 0.741 USD
730
Ria lets you send money to 130+ countries with cash pick-up at 240,000 locations. Show details
AUD 1 Within an hour AUD 2.99 0.741 USD
739
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide. Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How they work

MoneyGram

To make an online transfer with MoneyGram, you go to its site, enter how much you're transferring and to where, and see how much you'll pay for the exchange. You also have the option of visiting an agent location, calling or using a mobile app to initiate a transfer. And once complete, it converts and delivers your money to a bank account or for cash pickup at locations worldwide.

Read review: MoneyGram Review

Ria

To transfer money online with Ria, go to its site, enter the amount you'd like to transfer and to which country, and choose your payment and payout methods. On the same page, you'll see the exchange rate and transfer fee for your particular exchange.

Read review: Ria Review

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Which has lower fees?

MoneyGram

MoneyGram doesn't have a fixed fee – instead, the fee changes depending on how much you're sending, what currency you're sending and what you use to pay. As an example, these are the fee for transferring $400 to a cash pick-up location in Sri Lanka is $2.99.

Ria

Money transfer fees with Ria also vary by payment method, country and the amount you're sending. The cheapest way to send money is by bank transfer, with a typical fee that's lower than $8. However, fees for credit card payments can be as high as $45. If we're looking at the same example as MoneyGram, the fee for sending $400 to Sri Lanka is $5.

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Winner: MoneyGram

MoneyGram wins when it comes to fees, offering fees that are generally lower. With both companies, keep in mind that paying by card will mean higher fees.

Let's crunch the numbers: Sending $300 and $2,000 to Thailand

To illustrate this a bit better, let's compare what the same transfer looks like at MoneyGram and Ria. In our scenario, we'll be sending two different amounts to a cash pick-up location in Thailand and will be paying with a bank transfer. Keep in mind that other currencies will have different fees and transfer times.

Sending $300 to Thailand
MoneyGramRia
Transfer fee$2.99$4
Exchange rateAUD$1 = THB22.89AUD$1 = THB29.63
Transfer speedMinutesMinutes
Total baht receivedTHB6,867.84THB8,889.09
Receiver getsTHB2,021.25 lessTHB2,021.25 more
Sending $2,000 to Thailand
MoneyGramRia
Transfer fee$2.99$4
Exchange rateAUD$1 = THB22.89AUD$1 = THB29.63
Transfer speedMinutesMinutes
Total baht receivedTHB45,785.61THB59,260.60
Receiver getsTHB13,474.99 lessTHB13,474.99 more

For both of these transfers, the receiver gets more money at the end with Ria.

Which offers better exchange rates?

To understand who offers better exchange rates, you'll need to first look at the mid-market rate. This is the true exchange rate that averages the buying and selling rate of a global currency — and the rate banks and transfer services use when they trade among themselves.Let's look at the rates that MoneyGram and Ria offer compared to the mid-market rate.

MoneyGram

Depending on where you're sending your money, MoneyGram's exchange rate could be 0.6% to 10% above the mid-market rate. This is also known as the margin. Let's look at an example of sending money to Canada.

  • Mid-market rate: AUD$1 = CAD$0.98
  • MoneyGram's exchange rate: AUD$1 = CAD$0.95

This is a margin of 3%.

Ria

Ria also adds a margin to the exchange rate, from anywhere between 0.3% and 4%. The same example of sending money to Canada looks like this:

  • Mid-market rate: AUD$1 = CAD$0.98
  • Ria's exchange rate: AUD$1 = CAD$0.97

This ends up being a margin of 1%.

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Winner: Ria

On average, Ria adds a smaller margin to the exchange rate than MoneyGram. This means your receiver will get more in the end with a Ria exchange rate than the rate offered by MoneyGram.

Which is faster?

MoneyGram

Delivery speed varies with transfer options. At an agent location, your transfer could be delivered in minutes (though with higher costs). In general, your cheaper options will take two to four business days for receipt. A bank transfer may take several days.

Ria

Ria's transfer speeds also depend on the method that you choose to send your money. When you use your credit or debit card, the exchange typically takes 15 minutes or less. Cheaper transfers from your bank account can take up to four days.

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Winner: Tie

Both Ria and MoneyGram offer an instant transfer option and a slower, cheaper option.

General features

Payment methodsReceiving optionsMinimum and maximum transfersTransfer speedsCurrencies
MoneyGramBank transfer, credit card, debit card, cashBank account, cash pick-up location, mobile walletMinimum: $1

Maximum: $13,750

Within an hour95+ currencies
RiaBank transfer, credit card, debit card, cashBank account, cash pick-up, door deliveryMinimum: $2

Maximum: $5,000

1 - 2 days95+ currencies

MoneyGram

To make an online transfer with MoneyGram, you go to its site, enter how much you're transferring and to where, and see how much you'll pay for the exchange. You also have the option of visiting an agent location, calling or using a mobile app to initiate a transfer. And once complete, it converts and delivers your money to a bank account or for cash pickup at locations worldwide.

Ria

To transfer money online with Ria, go to its site, enter the amount you'd like to transfer and to which country, and choose your payment and payout methods. On the same page, you'll see the exchange rate and transfer fee for your particular exchange.

Bottom line

While MoneyGram and Ria offer quite similar services, you'll often end up saving more with Ria's better exchange rates.

Ultimately, you'll want to compare your options to find the service that best fits your needs.

Looking for more options?

Check out what fees and exchange rates some other money transfer services are offering with our calculator below.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 1.99 0.759 USD
757
Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Go to site Show details
AUD 250 1 - 2 days AUD 15.00 0.756 USD
745
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 1 1 day AUD 5.20 0.764 USD
760
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.756 USD
753
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
AUD 1 Same day AUD 0.00 0.76 USD
760
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 5.00 0.763 USD
759
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.755 USD
753
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.762 USD
759
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 4.50 0.764 USD
761
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for Send International Money Transfers
Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.

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