Compare MoneyGram's US Dollars to Moroccan Dirham Rate

MoneyGram is a popular money transfer service that allows you to send money from the United States to Morocco in Moroccan Dirhams (MAD). You can use various payment options such as bank transfers, credit or debit cards, or cash payments to send US dollars to be converted into MAD.

However, it's important to note that MoneyGram's exchange rates may have a markup on them. According to Monito, MoneyGram was the cheapest option for only 3% of searches for transfers from the United States to Morocco. Instead, we recommend you use our comparison engine below to find the best rates for USD to MAD transfers 👇

Overview of Sending Money From the United States to Morocco With MoneyGram

MoneyGram is a trusted and reliable money transfer service that has been operating for over 80 years. They offer services in over 200 countries and territories, making them a popular choice for sending money from the United States to Morocco.

The company is subject to a wide range of laws and regulations in countries around the world:

• Licensed in all 50 states, D.C., Puerto Rico, US Virgin Islands & Guam;
• Licensed in the UK as an Authorized Payment Institution;
• Licensed in EEA under European Union Payment Services Directive.

MoneyGram offers a variety of transfer methods, including online transfers from your bank account, credit card, or debit card. With over 350,000 agent locations worldwide, you may also speak to a customer representative to send money in person. Lastly, they offer mobile transfers to digital wallets.

To learn more about the company, read our in-depth MoneyGram review.

Fees for Dollar to Moroccan Dirham Transfers With MoneyGram

The fixed fee that MoneyGram charges depends on several factors such as the amount being transferred, the destination country, the payment method, and the speed of the transfer.

We used the MoneyGram fee estimator to calculate their fees for a $1,000 USD transfer to Morocco*:

If Recipient Receives by Bank Transfer:

• Express Bank Transfer: $4.99, transfer within minutes
• Standard Bank Transfer: $1.99, transfer in 3-4 business days
• Credit Card: $32.99
• Debit Card: $1.99

If Recipient Receives by Cash Pickup:

• Cash at Location: $13.00
• Online Bank Transfer: $14.99
• Credit Card: $34.99
• Debit Card: $14.99

*Recorded on 14 March 1200 CEST

MoneyGram USD to MAD Rate

When sending your money from the US to Morocco with MoneyGram, it's important to be aware that they apply a markup on their exchange rate, also known as an exchange rate margin. Their exchange rate fluctuates day to day, making it difficult to provide a clear number on their hidden margin fees. It also varies by transfer size and currency type.

However, we did find on March 14th, 2023 that the mid-market rate was 1 USD to 10.36 MAD. At that time, MoneyGram's weaker exchange rate was 1 USD to 10.29 MAD.

This means that if you were to transfer $1,000 USD to Morocco, your recipient would receive 10,297.60 MAD with MoneyGram.

• MoneyGram's Exchange Rate: 1.00 USD = 10.2976 MAD

Compared to the mid-market rate, this shows that MoneyGram has a markup of approximately 0.665%, which they keep as profit. While this markup may seem small, it can add up over multiple transactions.

• Mid-Market Exchange Rate: 1.00 USD = 10.366514 MAD

If you're looking for a better exchange rate, we recommend you compare providers with our live comparison engine. By comparing rates and fees from different providers, you can find the best deal for your needs and budget.

Compare Moneygram USD to MAD Exchange Rate With Top Remittance Services

MoneyGram is a trusted and reliable provider for sending money from the US to Morocco, but it's always worth exploring other options to find the best deal for your needs. According to Monito's 2022 data, MoneyGram was found to offer the most cost-effective service for transferring money from the USA to Morocco in only 3% of comparisons, with Remitly, Wise, and XE Money Transfer coming out on top.

Remitly was found to be the most cost-effective provider in an overwhelming 64% of comparisons from the United States to Morocco. This was followed by Wise at 14% and XE Money Transfer at 11%.

Using Monito's live comparison engine, you can compare dollar to Moroccan dirham exchange rates and fees from multiple providers to find the best deal for your specific transfer 👇