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MoneyGram is a global money transfer and financial service headquartered in Dallas. It offers convenient domestic and international money transfer services online, via its mobile app and at over 430,000 physical locations. But how much does MoneyGram charge to send money? Read on tolearn more about MoneyGram’s services and get a detailed breakdown of current MoneyGram transfer fees.
See: How To Get Cash Back on Your Everyday Purchases
MoneyGram Services
MoneyGram offers a wide selection of money transfer services, including:
- One-time or recurring online transfers
- Transfers via MoneyGram mobile app
- Debit card deposits
- Bank wire transfers
- Mobile wallet transfers
- Transfers made in-store or at a kiosk
- Transfers started online and completed with cash in person
- Bill pay
- Transfers to inmates
In most countries, the online money transfer limit is $10,000 per transfer and $10,000 within a 30-day period. In the U.S., the limit is up to $25,000 per online transfer when sending to certain countries. Transfer limits vary based on local laws, market trends and other factors. If you attempt to send an amount that exceeds the current limit, you’ll receive a limit error.
MoneyGram Fees
MoneyGram transfer fees vary based on the following factors:
- Payment method: Debit card and bank account payments are the least expensive, with credit card payments costing the most. Fees for in-person cash payments vary by location.
- Payment amount: Higher payment amounts incur higher transfer fees for domestic transfers. Transfer fees may remain the same when sending money from the U.S. to another country, but higher payment amounts will cost you more due to MoneyGram’s margin on thecurrency exchange rate.
- Sender location: Fees vary based on the sender’s country.
- Recipient location: Fees vary based on the recipient’s country.
- Method of receipt: When available, sending money with the recipient’s name and mobile number for receipt through a MoneyGram account is the least expensive option. Sending money directly to a bank account is the next more affordable option, followed by a debit card deposit, then cash pickup.
To get a transfer fee estimate, use the fee estimator on the homepage of the MoneyGram website. Keep in mind that in addition to the fees charged by MoneyGram and shown in the fee estimator tool, your credit card company may charge additional fees if you pay by credit card. Transfer fees and currency exchange rates fluctuate, so the estimates discussed below are subject to change.
Transfer Fees in the US
The table below shows estimated fees for different payment amounts and methods for money transferred within the U.S.
| Transfer Amount | Method of Receipt | Fee for Debit Payment | Fee for Credit Payment |
|---|---|---|---|
| $500 | Bank account | $8.99 | $20.49 |
| $500 | Debit card deposit | $10.99 | Not available |
| $500 | Cash pickup | $68.99 | $83.49 |
| $1,000 | Bank account | $16.99 | $32.99 |
| $1,000 | Debit card deposit | Not available | Not available |
| $1,000 | Cash pickup | $113.99 | $140.99 |
| $5,000 | Bank account | $59.99 | $127.99 |
| $5,000 | Debit card deposit | Not available | Not available |
| $5,000 | Cash pickup | $208.99 | $335.99 |
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International Transfer Fees
International transfers incur transfer fees, and a currency exchange rate may apply. While the transfer fees for international transfers are low, be aware that MoneyGram also makes money on the currency exchange by adding a margin to the exchange rate.
The table below shows estimated fees and the exchange rate for international $1,000 money transfers originating in the U.S. and paid by debit card directly to a bank account. Sending payment by credit card or picking up in cash results in higher transfer fees.
| Recipient Country | Transfer Fee (in USD) | Conversion Rate | Total Payout |
|---|---|---|---|
| Brazil | $1.99 | 1 USD = 4.8936 BRL | 4,893.57 BRL |
| China | $1.99 | 1 USD = 7.1145 CNY | 7,114.46 CNY |
| Germany | $1.99 | 1 USD = 0.9019 EUR | 901.90 EUR |
| Jamaica | $1.99 | 1 USD = 150.2917 JMD | 150,291.72 JMD |
| New Zealand | $1.99 | 1 USD = 1.6277 NZD | 1,627.74 NZD |
| South Africa | $1.99 | 1 USD = 18.7135 ZAR | 18,713.49 ZAR |
How Long Do MoneyGram Transfers Take?
The time it takes for the recipient to receive money after you make a transfer depends on how and where the money is sent and picked up. Cash pickup is usually ready within 10 minutes of being sent during the pickup location’s business hours. Payment sent to a debit card or mobile wallet is usually complete within minutes. Sending money to a bank account is the least expensive method, but it takes the longest. Depending on the recipient country, it could be completed within minutes or days.
Takeaway
MoneyGram makes it easy to send and receive money around the globe, but you’ll need to pay a fee for the convenience. To find out how much a transfer will cost, use MoneyGram’s fee estimator on the MoneyGram homepage or in the app.
Data is accurate as of Aug. 21, 2023, and is subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
