The best alternatives to MoneyGram when sending an international money transfer.
MoneyGram is the second-largest money transfer service in the world, transferring funds to almost 200 countries and territories and has more than 350,000 agent locations worldwide. Sending money with MoneyGram is fast, easy and secure. You can even talk to an agent who can walk you through the process.
- Global network of 350,000 agent locations in almost 200 countries.
- Lots of transfer options for sending and receiving money.
- Secure and reliable.
- Fast transfers, with same-day service in many locations.
- Minimum amount of $250. You can’t send small amounts through MoneyGram.
- Flat fee for transfers under $10,000. If you’re transferring even a small amount you’ll still pay $15. On a $250 transfer this equates to almost 6% of the total transfer amount.
MoneyGram offers thousands of cash pick up locations, but it generally costs more than other online providers. Compare online providers to see if you can find a transfer service that offers transfers to multiple locations, but with potentially lower fees.
Like MoneyGram, OFX offers money transfers to many countries in a variety of currencies. But with higher maximum transfer amounts and no fees, OFX could be better if you're looking to do business or pay for exports overseas.
- Low transfer fee of $15, which is waived for transfers over $10,000.
- Competitive exchange rates
- Offers scheduled and recurring transfers.
- Compatible with major online marketplaces including Amazon and Etsy
- Major currencies available through your own local account
- Android and iOS apps available for mobile transfer and tracking.
- No cash payment or pickup, only bank deposits.
- Transfer minimum of $250.
- Limited currency options
- Not compatible with all online marketplaces yet
2. World First
Like MoneyGram, World First can transfer money to almost anywhere around the world. Additionally, World First charges no fees on private client international payments or business currency transactions.
It also allows for large transfers with rates closer to the mid-market rate than MoneyGram. World First is a good choice for overseas business transactions.
- Competitive exchange rate
- Spot contracts, forward contracts and hedging options available
- Weekly updates on market exchange rates
- Low fees
- Small number of currencies available
TransferWise charges fees depending on how much money you're sending and where you're sending it to. For example, sending money to the US will cost you a fixed fee of $1.50 and 0.45% of the amount you send. But with exchange rates that follow mid-market rates, TransferWise could save you money. This peer-to-peer money transfer company allows individuals and businesses to send as much as $1,800,000 per transaction.
- Easily sign up to start transferring money in minutes.
- Transfer from $1 to $1,800,000 or more, depending on your account.
- No hidden commissions or unexpected fees
- Uses the mid-market exchange rate to give you the best possible deal
- Not all currencies supported
- No cash pick up
XE offers competitive exchange rates, particularly for transfers over $10,000. Combined with no fees or commissions and a simple registration process, XE is a great option for high volume money transfers up to $500,000.
- Great rates & no fees
- Secure & reliable
- Trade in 60 world currencies
- Not available for certain countries including Indonesia and Bangladesh.
- No cash pick up
TorFX makes money transfers in more than 60 currencies in as little as a day. Unlike MoneyGram, TorFX doesn't charge fees for exchanges and offers competitive exchange rates. But you can only make bank-to-bank transfers and can't send less than $200 to take advantage of its services.
- Competitive exchange rates, generally up to 3% better than banks.
- No fees or commissions
- Good customer service and reliable transfer speed
- Only allows bank-to-bank transfers.
- Not as many currencies on offer as other companies.
With Western Union, you can transfer money to over 200 countries around the world. Lodge a transfer online, or in person at one of 500,000 agent locations throughout the world. You can transfer funds from a variety of sources, including your bank account, your debit or credit card, or even cash. Not only can you transfer money to your recipient's bank account, you can arrange to have it transferred to a prepaid card or physically delivered to an agent location for pickup.
- Benefit from a variety of options for funding your transfer, including cash, credit or bank transfer.
- Cash pickup available.
- Same day transfer available.
- Transfer amounts larger than $5,000 need to be lodged in person at an agent location.
- Varying fees, depending on transfer amount and destination.
Still looking for the right money transfer provider? Compare more options below
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.