Using MoneyGram to send money online
MoneyGram is one of the largest money transfer companies in the world, with millions of customers around the world. You can choose to send money offline or online with MoneyGram, either from a smartphone or laptop, or one of their many agent locations.
It’s a great company for some people because of its flexibility and convenience, but others may be put off by the fees and the fact that MoneyGram is a favourite of fraudsters because transfers can’t be traced.
There are a number of factors you should consider before you start using MoneyGram to send money abroad. In this blog we will review MoneyGram to show you what it’s really like, including looking at the pros and cons of MoneyGram, so that you can decide whether it’s the right transfer service for you!
MoneyGram - send money online
If you want to send funds online with MoneyGram, you can access their transfer platform on any device via a browser, or via their mobile app. Before you can send money you’ll first need to register for a MoneyGram account, which can take some time.
Here are some of the pros and cons of using MoneyGram for your online money transfers:
Pros:
- You can choose how you want the money to be received, whether directly to a bank account or to be picked up as cash by your recipient.
- Lots of cash pick-up locations
- Instant transfer of funds to the recipient for cash pick-up
Cons:
- Fees can be high - for example, sending £400 from the UK to a bank account in Nigeria will cost you £11.99 in fees
- You can’t send money with just card details - you’ll need various bank details
- You can’t track your payment, so MoneyGram is often used by scammers
- Although MoneyGram exchange rates are generally better than high street banks, you may be able to find better exchange rates with other money transfer providers
Is there another option to MoneyGram?
One of the main things that put people off MoneyGram are the fees, which can be very high.
When you send money to friends and family abroad, you want to save as much as you can so that more of your money reaches the recipient. The factors that affect this include the exchange rate and transfer fees.
Paysend is a fast and easy money transfer platform that lets users send money directly to bank accounts or cards with just a name and card number.
Money transfers to bank accounts with Paysend have zero transfer fees, and to cards cost just £1, €1.5 or $2 (or equivalent amount). Paysend uses excellent, competitive exchange rates, so if you send money with Paysend you might save yourself some money rather than MoneyGram!
On the Paysend homepage you’ll find a useful tool to help you find out if your money transfers with Paysend might be better for you than with MoneyGram. Click here to visit the homepage and get started.
Latest Posts
Pix payments have transformed how money moves inside Brazil. Since its launch by the Central Bank of Brazil in 2020, Pix has quickly become the primary payment rail, used by individuals, businesses, and government institutions.
If you're looking to send money to Brazil, you may come across the term “Pix payments.” Pix itself is a domestic payment system. Funds sent from abroad are processed by a licensed transfer provider – for example Paysend – converted locally, and then delivered to the recipient through the Pix network.
When comparing international money transfer services, many people assume that using the mid-market exchange rate automatically means a cheaper transfer. The logic seems straightforward: if the exchange rate reflects the midpoint used in global currency markets, the overall cost should be lower. In reality, however, the total transfer cost depends not only on the exchange rate but also on how the provider structures its fees.
