MoneyGram - Independent review

All you need to know before sending money with MoneyGram

Second largest money transfer network in the world Fast (but often expensive) money transfers



MoneyGram review by Monito

MoneyGram is the second-largest money transfer company in the world (after Western Union), allowing people to send and receive cash within minutes in over 350,000 agent locations across the world. You can also send money on MoneyGram.com or through the MoneyGram mobile app in the US, the UK and Germany, using a debit card, credit card or bank account (US only). In certain countries, your money transfer can be deposited to your recipient’s bank account, mobile wallet or prepaid card; or delivered in cash directly to your recipient’s home.

The company’s large network of agent locations and its availability both online and offline make it a highly convenient service which covers the needs of most people. Its size and long track record also guarantee that your money is safe when sending it with MoneyGram. The downside is that sending MoneyGram can be expensive, as the service can have higher fees and poorer exchange rates than those of specialized online providers.


PROS
  • Second largest network of agent locations in the world, allowing cash to be sent and received in 200 countries
  • Money transfers can not only be received in cash but also on bank accounts and mobile wallets
  • Most transactions settle instantly, which makes MoneyGram a good choice for urgent transfers
CONS
  • The online service and mobile apps are currently only available in the UK, the US and Germany
  • More expensive than specialized online providers on average

 

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187 customer reviews on MoneyGram on Trustpilot


2 days ago
by Ken

1 stars

I just went through the same thing as …

I just went through the same thing as most users on this site. I have had a Moneygram account for about 3 years now and it's been my preferred way of...Read more

I just went through the same thing as most users on this site. I have had a Moneygram account for about 3 years now and it's been my preferred way of sending money to family members in Europe and Africa. Today, I went to send money through my account; input all the personal information requested, credit card, passport number etc. and hit sent. It gave me an authorization number with a message: "We received your transaction request and are working on it. You will receive communication once the transaction has been processed. Generally this only takes a few minutes". It listed the amount, the fees, the total etc. Below this message was a "My Account" button. I waited for at least 20 mins and nothing seemed to be happening, so I decided to click on the "My Account" button, clicked on "transaction history" there it showed the transaction as "declined". So I thought, maybe I should log out and log back in (kind of refresh), since it never showed me any message when I hit sent. Lo and behold, I couldn't log in, it didn’t indicate if my account was deleted or not. I called their 1-800 number & talked to this guy with an accent which suggested he was in India. He told me my account had been deleted by their machine. And like everybody, I was on the phone for next 20 mins trying to get out of this guy how do I find out why my account was deleted since he couldn't tell or didn't seem to know why. No luck with that. He just kept repeating the same thing. Couldn't give me a number to call and kept telling me, I should go to an agent location. Thanks "smarty pants", there is a reason I created an online account to send money instead of driving 20 mins just to go send money. This is a useless company and I will be posting this message in any messaging board about Moneygram I can find. All these years, I thought Moneygram was my preferred option to send money, boy was I proven wrong. I am done with this company, and I am putting a watch on my credit card or usage of my SSN/stolen identity and if my identity is stolen, I am going after Moneygram. And that I mean it. Horrible Company. Stay away

2 days ago
by Vadim Buguta

1 stars

I got blocked for no reason

I got blocked for no reason Now I can’t send money in different countries to help people in need

6 days ago
by Gui Von Trotinovich

1 stars

Useless

I went Online for a simulation to send 2500 overseas, you have 20$ of fees... You go at the desk, they ask 110$ of fees... No explanation... Forget it if...Read more

I went Online for a simulation to send 2500 overseas, you have 20$ of fees... You go at the desk, they ask 110$ of fees... No explanation... Forget it if you want to send money elsewhere than USA or Mexico


More reviews

12/07/2017
by Maria Aleksandrova

1 stars

Unacceptable customer service

Unacceptable customer service, rude phone operators, would not provide her name and kept repeating that she would not transfer me to a supervisor/manager....Read more

Unacceptable customer service, rude phone operators, would not provide her name and kept repeating that she would not transfer me to a supervisor/manager. No apologies, no sympathy for wasting mine and my father's time 2 days in a row. I have never been this frustrated with a company before. I don't know how you all are still in business, it seems you scam people and constantly make people's lives difficult. The amount of stress and money you've cost me will definitely make me go back to using Western Union, despite the higher rates. You've just lost a loyal customer.

12/06/2017
by Markus

2 stars

Never worked online only in a reseller shop

Since I tried to use this terrible service I never was successful using this service online. My transaction from Europe to Africa always was cancelled...Read more

Since I tried to use this terrible service I never was successful using this service online. My transaction from Europe to Africa always was cancelled without any proper reason. I was asked to go to a local shop. Because of the urgency of this transfer I was forced to do this. Using the shop which is a lot more expensive I was successful transfering the money. WorldRemit is the better company if you want to transfer money into foreign countries.

12/06/2017
by whitney

1 stars

Unbelievable

Unbelievable. I am a business professional and tried sending $100 USD to a close friend in Vietnam from the U.S. for the first time. They asked for a...Read more

Unbelievable. I am a business professional and tried sending $100 USD to a close friend in Vietnam from the U.S. for the first time. They asked for a photo of my ID which I provided. Everything seemed to have worked just fine. It said "Processing Transaction" so I tried to sign back in several minutes later to check the status of it. I was unable to sign back into my account and provided a number to call. I called the 1800 number and politely asked what's going on. She very rudely informed me, "Your account has been closed because we don't feel comfortable with you using Money Gram and you need to find another service." I asked her why and she refused to provide any details and rudely continued telling me I need to find a different service.

12/05/2017
by Stiv Ushka

1 stars

Refused to send money to Ukraine - had to chase to find out why

Tried to send money (USD 250) from UK to a personal friend in Ukraine. First, I couldn't make the payment online because they said there were security...Read more

Tried to send money (USD 250) from UK to a personal friend in Ukraine. First, I couldn't make the payment online because they said there were security concerns. I was advised to go to a local Moneygram agent and pay in cash. Second, I did exactly that - paid in cash. (Note: the customer service from the agent was flawless). Online, when entering the transaction to code, it showed that the money was available for pickup. So my friend then visited several Moneygram agents in the Ukraine to attempt pick up and wasted half a day doing so - and still could not get the cash. When I call back Moneygram I speak to customer services who are just reading a script, telling me that because there have been reports of online scams, they do not allow these transactions. (Initially their customer service rep confused 'Ukraine' with 'United Arab Emirates'. Nothing I could say about the details of friendship with the recipient made any difference. So Moneygram was a complete waste of my time. Particularly annoying is that their website claims to do exactly what it doesn't do in reality - send money to individuals abroad. Useless.

12/05/2017
by Robert Sisson

1 stars

Moneygram cancelled my transaction after approving it

I have used Moneygram for many years. I tried to do the transaction online normally. But many times, Moneygram declines my transaction with no reason...Read more

I have used Moneygram for many years. I tried to do the transaction online normally. But many times, Moneygram declines my transaction with no reason given, not even an "over you limit for the month" message. I call and get no good answer. So I go to a local Moneygram location to send the money, and usually ok then. But on 11/11/2017, I sent some money online, and it was approved(received the email of approval with the code needed to pick up the money). When my friend went to get the money, she was told that the code did not exist. I called Moneygram and they gave me a story about "she must have received a lot of money from other people, and the government of that country, Costa Rica" had shut down the transaction. Hmmmm. Well, I know for certain that this girl is poor and her family is poor and no one else would be sending her money. Also, I had not sent her money for some time, so I was no where near the monthly limit. Moneygram did however refund my money including the fee, but it took 12 business days to receive. I went to Western Union and had no issue sending the money. So Moneygram is telling me that it was the Costa Rica government that cancelled the transaction? Hmmmmmmm No more Moneygram transactions for me.

12/02/2017
by Keisha Campbell-Ellis

1 stars

Too bad half a star no star isn't an …

Too bad half a star no star isn't an option. I would suggest u use another entity to send money or u will b sorry using this one..

12/02/2017
by mike parr

1 stars

Take Your Money Then Cancel The Transaction !!! Complete Joke

So I needed to send quite a large sum of money (£750+) to a person I know and trust in China, so did what was required, used my ID as requested and sent...Read more

So I needed to send quite a large sum of money (£750+) to a person I know and trust in China, so did what was required, used my ID as requested and sent it off, got my MTCN number to give to the receiver which I did. They then go to collect it a their end only to be told that the transaction is not valid, so after a conversation that I could barley hear and understand (foreign call centre) I was told it had been declined (no reason given, just they have stringent checks in place) whatever the hell this means, kept asking for a proper explanation, but this was like me asking a brick wall the same question!! So I am then informed after calling my bank that Moneygram have taken the money from my account, so another call to the impossible foreign call centre to be told I must wait for the money to be debited from my account (which was 3 days later) and then they will send a refund in 3-10 business days. Absolutely fuming does not even come close that they have over £750 of my money until god knows when, just in the run up to Xmas aswell. PEOPLE DO NOT USE THIS COMPANY, UNLESS YOU LIKE A LOT OF HASSLE AND HOURS ON THE PHONE TO PEOPLE YOU CANNOT UNDERSTAND OR HARDLY HEAR!!

12/01/2017
by Jeanne Mean

1 stars

STAY AWAY FROM MONEY GRAM ! Awful !!!!

Horrible experience, Awful customer service, Heartless employees and Worst Company to go to if you need to transfer money !!! They held transfer i made...Read more

Horrible experience, Awful customer service, Heartless employees and Worst Company to go to if you need to transfer money !!! They held transfer i made for Funerals for 24 hours (promised time was 10 minutes), i had no idea they were not even thinking of making a transfer until i call them myself because i found out from the relative overseas that they went to money gram and were told that there was NO transfer...after i called them..they started to asking me all kind of personal questions...even asked me - Who Died ??!!! ...then they refused to transfer money....horrible...horrible...horrible !!!! mean time 24 hours has passed...They are Awful!!!!

11/30/2017
by Orlando Ramos

1 stars

I have been using MoneyGram to send …

I have been using MoneyGram to send money to my family in Puerto Rico since 2016. I usually do go into a Walmart and do the transaction manually with...Read more

I have been using MoneyGram to send money to my family in Puerto Rico since 2016. I usually do go into a Walmart and do the transaction manually with cash. Well today my family needed money very urgent as things in PR after hurricane Maria have been very difficult. I tried to do it online and found a whopping $50 charge for taking it out of my debit card. Since my family needed this urgently, i decided to go ahead and paid that ridiculous fee. At the end of my transaction Moneygram site said that my account was locked and the transaction was not approved. I call the customer service number and it directed me to someone in central america. A guy named Comal? he had a thick accent so it was a bit hard to understand. Anyway his explanation was that their "system wasn't comfortable approving the transaction? I asked for a technical answer as to why it was denied. My Visa card is from a national accredited bank and its an actual debit not even like a credit card. So he said i need to find another provider as they will not take my transaction. His explanation was that their system didn't feel comfortable taking this transaction. So i said i didn't know that computers had PMS, all i wanted to know was the reason why. Did i enter a wrong number or something ? This rep's attitude was deadpan and couldn't give me an answer as to why. Five minutes later i sent the money successfully though Western Union, and was only $19.99 so I will only use Western Union from now on. I will make sure that my entire family wont use your services anymore as well. This is what happens when companies get too big..

11/29/2017
by Melissa Hensley

1 stars

DO NOT use Money Gram

DO NOT use Money Gram. They ask for your personal information AND half of the time they don't even give people their money that was sent to them. My...Read more

DO NOT use Money Gram. They ask for your personal information AND half of the time they don't even give people their money that was sent to them. My mother is 83 years old and she sent me a few hundred dollars through the piece of crap company and they won't even give me my money because they said some of her information is missing. That is not the first time they have done this to me. The last time they called my mom and asked her for her bank account number and how she was getting all of her money and all kinds of unreasonable, unacceptable, personal questions that were none of their business.

11/29/2017
by Adnan Qayyum

1 stars

Really bad

Really bad. I wish I could give the star less then zero. My partner sent me money and I didn't take it out becoz I managed from my frnd. When I came back...Read more

Really bad. I wish I could give the star less then zero. My partner sent me money and I didn't take it out becoz I managed from my frnd. When I came back to collect the money which was sent from by my partner the good news was Some one took the money I said what Its not secure any one can take your money just carfull Their agent don't follow to ask proof of i.D and reference number. And on top There so called customer supervisor asked my partner that are we in relationship?? Does we have marriage certificate? And when I askd him it's not your business to ask these kind of questions and are these kinds of questions is in your policy. And he said yes. One more question want to share with you all of that after complaint been put they said what are you expecting from moneygram.loool Just last words please don't use money gram. Just don't use money gram advised

11/26/2017
by Ian McDonald-Wallington

1 stars

THE MONEYGRAM SCAM

Since I first signed up with MoneyGram I have been sending the same amounts of money to the same 3 people, my Fiancée and 2 of her friends for them to...Read more

Since I first signed up with MoneyGram I have been sending the same amounts of money to the same 3 people, my Fiancée and 2 of her friends for them to collect and give it to her, the same amounts to the same person on the fortnightly basis. Suddenly in November 2017 (about 6 Months down the line) neither my Fiancée's friends or herself were able to collect the money. I phoned through to the Customer Services and asked why when it was showing as available for pick up on their Tracking system on their website, firstly I was given an excuse that my Fiancée's friend was being denied to collect the money because she has been receiving money from a number of different people around the world (I would have never known anything about this as I live 4,000 Miles away and her private life is nothing to do with me) so it first seemed as if I was being penalised for someone else's actions. 2nd I was told to wait while I was passed to another department but left on hold for over half an hour then on hanging up and ringing back I was passed to the other department but given no proper explanation. 3rd I was passed to 3 different people and the 3rd person asked where the money I was sending was coming from and when I told him it was from my savings account he had the cheek to ask for my bank Sort Code and account numbers which I refused to give to him and then asked how much I have got in my bank account which I told him is none of his business, he then just hung up on me. I then emailed a complaint and have since been told that I am supposed to have violated MoneyGrams Terms & Conditions. If this is the case then MoneyGram are not a verry responsible company as they must have also violated the exact Terms & Conditions of theirs at the exact same times on the exact same dates as me by allowing all previous payments to go through to the exact same people without any problems. After sending this complaint I received a very abusive message from MoneyGram that showed as if they are trying to make me out to be some kind of criminal when I know for a fact I have done nothing wrong. I have requested a proper explanation to why I have been black listed by them which is a persons legal right to request and any company's legal obligation to give on request over here in the UK but still have not been given any proper explanation. To me, after this experience MoneyGram are BAD, RUDE, UNREASONABLE AND UNFAIR. It is my belief after reading several other cases on line similar to mine that MoneyGram are not interested in surving loyal customers who only need to send small amounts at a time but are only interested in those who send thousands from one country to their home countries on a weekly basis probably committing fraud or money laundering. MoneyGram should be closed down and banned from ruing any such business in the future. They are also keeping peoples money and refusing to give them refunds after black listing them.

11/16/2017
by Tchanturia Davit

1 stars

WORST EVER!

WORST EVER! I've sent money before with money gram international and had some issues, but this time its very different! People who are answering phones...Read more

WORST EVER! I've sent money before with money gram international and had some issues, but this time its very different! People who are answering phones are so incompetent that I can not even talk to a normal HUMAN BEING who will answer any question at all... I sent money and they charged me twice, then they blocked an account for "Security Purposes"! RUDE< unprofessional, hanging up and making no sense!!! I am rating them all 1's... If that helps their supervisors to review and make changes in their unprofessional world of money transfers!!! Never again!

11/11/2017
by Ronald Broderson

1 stars

My account is locked and can never be …

My account is locked and can never be used again. It is also impossible to set up a new account>

11/08/2017
by Shannon Mika

1 stars

The customer service is abhorrent

The customer service is abhorrent. I have been attempting to send money to Costa Rica using my checking account. Twice now the transaction encounters an...Read more

The customer service is abhorrent. I have been attempting to send money to Costa Rica using my checking account. Twice now the transaction encounters an error and asks me to call 800-922-7146. The first time, I gave up and paid $26.99 to send $500. Today, I wasn't about to. In both cases they have told me to call Telecheck. When I call Telecheck they need the specifics of a declined check (N/A) or a reference number which neither your agents or your escalation department can provide. No problem, I tell the escalation agent; I'll use my credit card if you'll process it at the same rate as a check. And again, I'm told no. I finally asked what can you do? According to the person in the escalation department who I waited over 10 minutes to talk to, there is nothing she can do. My option? Pay the additional money to use my credit card. I'm sorry, that's not a helpful answer. I would gladly take my business elsewhere, but MoneyGram is my only option in Samara, CR. I've sent a complaint via their website - let's see if it does any good....

11/04/2017
by Andrew Morris

1 stars

Worst company ever

Worst company ever. They locked my account but would not give me a reason why and then I had to jump through multiple hoops to try and get it sorted and...Read more

Worst company ever. They locked my account but would not give me a reason why and then I had to jump through multiple hoops to try and get it sorted and had to go through their "security procedure" multiple times - with questions getting very personal and which Moneygram do not need to know. I was told if I didn't answer ALL of their questions then the account would stay locked. Any other company would move on to ask another question to verify, Moneygram refused. I was in a public place and not comfortable having to run through vocally that I'm having to send money because of a death I dont really wish to have a conversation about. I find this completely ridiculous as their other departments I spoke to had no problem with confirming who I am. Congratulations Moneygram, you've moved another customer over to Western Union!

10/31/2017
by Angry Customer

1 stars

Political discrimination

I will never use money gram ever again. They blocked my account because they didn’t like the political Opinions that are made clear by my email address....Read more

I will never use money gram ever again. They blocked my account because they didn’t like the political Opinions that are made clear by my email address. The heifer from customer service was laughing when the call was transferred to her. A company discriminating against me for my political opinion is BS. I will be finding an attorney.

10/31/2017
by Moe Chams

1 stars

I left western union to use this …

I left western union to use this company when they were still new. It was great in the start now after 1.5 years they block payments and now refusing to...Read more

I left western union to use this company when they were still new. It was great in the start now after 1.5 years they block payments and now refusing to give the receiver the money. The same receiver for the past 1.5 years. The customer rep told me to use another company. I hope money gram is aware of this. I will get my refund tomorrow and go back to western union. Mohamed Chams CEO Call2talk M

10/28/2017
by gardnar o'brien

1 stars

Extremely Poor Customer Service!!

I have a daughter living out of state and one of the best locations to use to send her money is Walmart. There are locations in many cities. Unfortunately...Read more

I have a daughter living out of state and one of the best locations to use to send her money is Walmart. There are locations in many cities. Unfortunately they use Moneygram for this service. I've sent her money with an online account. Many times I've had transfer problems which had nothing to do with funds on my part. They were constantly flagging transactions and kicking me to some 'Customer Service' agents, who had to be called on a telephone line. The agent usually spoke very poor, heavily-accented English. Each call was five to fifteen minutes in length due to wait times and the poor communication. Recently, for a $30 transfer, I was kicked up to 'Security' after a rambling three or four minutes explaining my account was just cancelled and I would be transferred again to 'Security'. After a minute answering identity questions I was told the account was cancelled. When I asked why, the agent said 'Security' doesn't give answers to customers. This is the most ridiculous explanation I've ever heard from an organization. Then they cancelled my online access so I can't see any history now. I'm opening up a Western Union account and will never have anything to do with them again or good to say about these clowns!

10/27/2017
by Memma White

1 stars

Money gram is a predatory company …

Money gram is a predatory company pooling cash from innocent people for investment purposes. They do this under the pretext of preventing fraud. Their...Read more

Money gram is a predatory company pooling cash from innocent people for investment purposes. They do this under the pretext of preventing fraud. Their primary goal is to restrict immediate access to your funds while investing in various short-term instruments. You can never win with such a company. Your only solution is to stop dealing with the company entirely by seeking other means to transmit overseas funds. If I have sent money to a particular recipient before, there is no justification to re-examine additional transfers to the same recipient. These controls are redundant and idiotic and call into question their ability to properly perform this service for customers. Their competitor, Western Union may be no better than MoneyGram but at least access to your funds are likely less restrictive.

10/26/2017
by Gail Davis

1 stars

Horrible!!!!

Horrible! They decide who and who you can’t transfer money to. Very frustrating. Tried to send money to sister in law traveling in Germany and they...Read more

Horrible! They decide who and who you can’t transfer money to. Very frustrating. Tried to send money to sister in law traveling in Germany and they decided it was not safe and would not complete transaction. Building home and trying to pay contractors and they decided it was a possible problem. Would not complete transaction.

10/20/2017
by Michael M.

1 stars

Incompetent Employees - Scammer Fees

Filed for a refund on my unused $35 money order. They denied me and sent me back a photocopy of someone else's money order because their incompetent...Read more

Filed for a refund on my unused $35 money order. They denied me and sent me back a photocopy of someone else's money order because their incompetent employee typed in the wrong serial number. Now I have to go through the entire process again. They also screw you with an $18 fee.

10/14/2017
by Tanisha Grandison

1 stars

I had the WORST possible experience

I had the WORST possible experience. The time before this when I used Moneygram I was interrogated for 20 mins before they would release the money to my...Read more

I had the WORST possible experience. The time before this when I used Moneygram I was interrogated for 20 mins before they would release the money to my receiver. Mind you, I sent to that very same receiver before in that same City for the same purpose. THIS TIME IS THE LAST. I sent the money 2 days before my receiver was to pick the money up just so that if there were any issues I would know before he got there. MONEYGRAM TOOK THE MONEY FROM MY ACCOUNT AND SENT ME AN EMAIL THAT IT WAS READY FOR MY RECEIVER. That was SO not the case. I was told through my receiver to contact them and after almost 30 mins, I was finally given the lecture that it was for my protection and now my receiver could make the trip once more to pick the money up. Thought that was it? OH NO. The agent told him she was NOT COMFORTABLE GIVING MY MONEY TO MY RECEIVER WITH IDENTIFICATION AND CANCELLED THE TRANSACTION. As upset as I was , I almost ha a stroke when I called to get my money back and the Rep said "It will take 3 - 10 business days. THIS IS THE ABSOLUTE WORSE SERVICE I HAVE EVER GOTTEN. Insults, after insults and disrespect on top of disrespect.

10/14/2017
by Vijay Patel

1 stars

I created an online account

I created an online account, then within 7 days I could no longer access my account. When I rang the customer service number he was very rude and could...Read more

I created an online account, then within 7 days I could no longer access my account. When I rang the customer service number he was very rude and could barely understand his English. I was advised that my account was closed by the system with no reason why and I had to use a store to send any payments and I was no longer able to use an online payment.

10/12/2017
by Aamir

1 stars

Pathetic company and scam

Very Pathetic company, Pathetic customer services. its a scam Money gram is a scam. i had to send money which they took 2 days for confirmation after 2...Read more

Very Pathetic company, Pathetic customer services. its a scam Money gram is a scam. i had to send money which they took 2 days for confirmation after 2 business days money gram said we have sent the money, but the receivers account was not credited when i asked about the status their customer services were so bad. THEY CHARGED ME BUT DIDN'T SENT THE MONEY Actually to the receiver. wasted my time money and efforts . i have been sending through Transfer wise since ages i never had problems.. i will never ever use money gram

10/10/2017
by Philip Ewing

1 stars

Impossible

The transaction I was trying to make matched their profile for fraud. After talking with about 6 service reps they said there was nothing I could do. Went...Read more

The transaction I was trying to make matched their profile for fraud. After talking with about 6 service reps they said there was nothing I could do. Went to Walmart in person and sent the money and it was $10.10 cheaper than online. I have cancelled my account.

10/01/2017
by Ken Weaver

1 stars

I was interrogated for over 30min on …

I was interrogated for over 30min on the phone after being on hold for 30min only to be told i could not send my money with my credit card by a person who...Read more

I was interrogated for over 30min on the phone after being on hold for 30min only to be told i could not send my money with my credit card by a person who was struggling to speak English. I will never use money gram again- western union from now on!!!!!!


Moneygram has very bad reviews on Trustpilot, with 84% of the 74 customers who have given their feedback rating the company 1 star out of 5. Here is what MoneyGram’s customers have to say:

Positive
  • Customers liked the fact that the money was available in minutes at the receiving end of the money transfer.
  • Some say they had a good service despite the high fees.
Negative
  • Some customers have seen their transferred cancelled and had problem to get their money back.
  • A few customers have had bad experiences with an unfriendly Moneygram customer service representative.
  • Customers found cheaper alternatives to Moneygram and stopped using the service.
  • Some were annoyed by the verification process to identify themselves (which Moneygram is required to perform by law).

Note: Moneygram is not inviting its users to share their experience with Trustpilot which could partially explain the extremely high proportion of bad ratings. The 1/10 rating might not be representative due to the low number of reviews.



Can I trust MoneyGram?

Until 2017, MoneyGram International Inc. was a publicly-traded company on the Nasdaq Stock Market with a $680 million market capitalization. It was then acquired by the Ant Financial Services Group, the payments arm of the Chinese e-commerce group Alibaba. Ant Financial is an enormous company, powering the majority of online payments in China and valued at $60 billion at the time of its acquisition of MoneyGram. Working together as one with Ant Financial will significantly strengthen MoneyGram and its ability to build a robust global corporation.

MoneyGram has close to 3000 employees worldwide, the majority of which are located outside the US in the 30 countries where the company has offices. With a track record of close to 80 years, the company has acquired and demonstrates a significant expertise in the money transfer industry. MoneyGram has built its reputation through the quality of its service, which provides a convenient and safe way to send money to or from nearly every country in the world. The MoneyGram brand is recognized and trusted globally, thanks in part to its network of agent locations which, apart from Western Union’s, is unmatched by any of its competitors.

MoneyGram is subject to a wide range of laws and regulations of countries around the world. MoneyGram is licensed in all 50 US states, as well as in the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam. In the UK, MoneyGram is licensed as an Authorized Payment Institution under the European Union Payment Services Directive, which allows MoneyGram to provide payment services throughout the European Economic Area. Many other jurisdictions which MoneyGram operates in impose licensing or other regulatory requirements. These include minimum capital requirements, compliance with operational procedures, agent oversight and maintenance of reserves, and are are specifically designed to protect consumers’ funds. MoneyGram takes its regulatory compliance very seriously, and invest on average $50 million a year into its compliance program.

So, is MoneyGram safe to use? Absolutely. MoneyGram couldn’t be the second largest money transfer provider in the world if it didn’t adequately protect its customers’ funds.




How MoneyGram works

How to send money online with MoneyGram

  1. Enter the recipient’s full name and country, and choose how the money should be received.
  2. Enter the amount you wish to send, and you will see the fees and exchange rate which currently apply for your transaction.
  3. Enter your payment information as well as your personal details, including your name, postal and email address, phone number, and date of birth. MoneyGram may need to verify your identity with an official document. If you already have a MoneyGram account and have supplied this information before, you can skip this step by simply logging into your account.
  4. Review the transaction details including the fees and exchange rate, and if everything looks good, click the Submit Transaction button.
  5. You will receive an email confirmation including a reference number which your recipient will need to pick up the money.

How to send money at an agent location with MoneyGram

  1. Find a MoneyGram agent location near you, and make sure to bring your ID with you.
  2. Whether through a kiosk touch screen or on a paper form, you will need to supply your full name, your recipient’s name and location, and the amount you wish to send. Depending on the receive option you choose, you will also need to provide other information such as your recipient’s bank account details or telephone number.
  3. You will then be able to pay for you transfer. In most cases, cash is the only accepted form of payment.
  4. You will receive a reference number which your recipient will need to pick up the money.


 

MoneyGram Exchange Rate & Fees

MoneyGram fees

MoneyGram fees generally vary depending on the amount sent, the send and receive countries, as well as the payment and receive methods. Here are a few simple rules of thumb for saving on fees with MoneyGram:

    • When sending money online with MoneyGram, it’s best to pay by bank transfer if this is available.
    • Sending to a bank account is usually less expensive than sending money for cash pick-up.
    • If you are sending money to a bank account, it is often cheaper to send at an agent location than online, regardless of the payment method used.
    • If you are sending money for cash pick-up, the online service will generally be cheaper than sending money at an agent location, but only if you pay by bank transfer.

MoneyGram exchange rates

MoneyGram applies the standard practice of taking a margin on the exchange rate. What that means is that the exchange rate offered to MoneyGram customers is not as good as the real mid-market exchange rate, and MoneyGram profits from this difference. While this generally costs you a couple percentage points of the amount you are sending, the exchange rate margin can sometimes exceed 5%. Since some money transfer services are able to offer exchange rates without any margin and save you plenty of money, it’s very important to always compare all available money transfer services before sending money abroad.


Send money from your Smartphone with MoneyGram

Mobile apps

MoneyGram’s mobile app is available on both Google Android and Apple iOS, but only in the UK, the US and Germany for the time being. The MoneyGram app lets you send money and pay bills as if you were on the MoneyGram website or at an agent location. Other features of the app include the ability to track past transactions, estimate fees or find agent locations for future transactions, and manage your account. While the app is rated 3.8 / 5 on the Google Play Store, it is only awarded a 1.7 / 5 rating on the Apple App Store due to issues with money transfers made through the app.

 



 

Additional services

Bill payment

MoneyGram’s bill payment service allows you to pay your relatives’ bills or your own from thousands of companies. The service is available in nearly all agent locations across the US, Canada and Puerto Rico, as well as in certain agent locations in select countries in Europe and the Caribbean.

Money orders

Money orders were the first service which MoneyGram offered when it was founded in 1940. While the company still offers this service today, it only represents a tiny share of their business (representing 3.6% of the company’s total revenues in 2015). The service, which is only available at certain agent locations across the US, is basically a prepaid check which you can deliver by mail or in person to the recipient.

Mobile top-up

Through its partner TransferTo, MoneyGram lets you top up prepaid mobile phones of more than 350 mobile carriers in over 100 countries around the world. This is a great way to ensure that you and your relatives abroad are able to stay in touch. Mobile top-ups are available at MoneyGram agent locations in the US, but can be sent online from any country in the world.


The story behind MoneyGram

MoneyGram International was born out of the merger of Travelers Express from Minneapolis, Minnesota; and Integrated Payment Systems from Denver, Colorado. The former company was founded in 1940, and became the largest processor of money orders (a paper instrument like a cheque but paid upfront) in the world. Integrated Payment Systems, which launched the MoneyGram brand in 1988, was part of a larger group of payment companies belonging to American Express (best known for their credit cards).

In 1998, Travelers Express and Integrated Payment Systems merged, and the resulting company went public in 2004 under the name MoneyGram International. In 2017, MoneyGram International was acquired by Ant Financial Services Group, the payments arm of the Chinese e-commerce group Alibaba, for $880 million.



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Key facts about MoneyGram

Service information

Time to open an account A few minutes
Pay-in options Credit card
Debit card
Bank Account
Cash
Pay-out options Cash
Bank account
Cash home delivery
Mobile wallet
Minimum amount No
Maximum amount Yes
Available languages
Français
English
Deutsch
Polski
Español
Português
Italiano
Personnal transfers Yes
Business customers No
Advanced currency contracts No
Required documents ID, Proof of Address

Company information

Type of service provider Global money transfer operators
Active since 1996
Headquarter Dallas, Texas, United States
Regulated by FCA

Contact information

Contact support www.moneygram.com/us/en/contact-form
Service hour 24/7
Phone 1‑800‑926‑9400
Twitter @moneygramme
Facebook moneygram


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