Both companies specialize in international fund transfers. Given the volumes of foreign exchange they process, they are able to provide bank-beating rates. However, selecting between the two requires paying attention to individual requirements.
Choose WorldRemit or MoneyGram only after considering these aspects.
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Fund Transfer Fees
Using the services of WorldRemit or MoneyGram can lead to savings in fees when compared to fees from most banks.
- Factors such as mode of payment, transfer method, and destination country can have an effect on the fee MoneyGram charges.
- Paying through an electronic bank transfer usually costs less than paying with a debit or credit card.
- Transferring funds to overseas bank accounts usually costs less than transferring funds to cash pick-up centers.
- Use the MoneyGram calculator without registering as a user to find out how much you have to pay in fees.
- The fee you have to pay depends on the transfer method you choose.
- Like MoneyGram, transfers to cash pick-up centers tend to cost more than transfers to bank accounts.
- Find out how much your transfer will cost by using the calculator provided on the WorldRemit website.
Ease of Use
Registering with both companies requires that you submit simple online applications. You can start transferring funds only after the verification of the details you provide is complete. This section of the WorldRemit vs. MoneyGram comparison favors one company when it comes to website access in foreign languages. The other ranks better with transfer methods.
- MoneyGram provides website access in multiple languages such as Chinese, French, German, Indonesian, Italian, Japanese, Norwegian, Polish, Portuguese, and Spanish.
- MoneyGram accepts payments in different ways, depending on where you live. The options can include debit cards, credit cards, electronic bank transfers, and cash.
- Transfer methods, depending on the destination country, can include transfers to bank accounts and to cash pick-up centers.
- If you are a MoneyGram Plus member, you can use an app on your iOS or Android device.
- MoneyGram Plus members receive transfer-related notifications via email.
- WorldRemit provides website access in English, French, and Spanish.
- The company lets you pay using debit cards, credit cards, and electronic bank transfers.
- Other modes of payments, depending on where you reside, include SOFORT, POLi, Interac, and iDeal.
- You can choose from different transfer methods depending on the destination country.
- Transfer methods offered by WorldRemit include transfers to bank accounts and to cash pick-up centers.
- It lets you top off mobile wallets and mobile airtime, and also offers home delivery of transferred funds.
- Access to apps for iOS and Android is available to all WorldRemit customers.
Regular Overseas Payments
Both companies fall short in this section of the MoneyGram vs. WorldRemit comparison, given that neither offers the option to set up recurring payments as of yet.
- Learn more by reading WorldRemit Vs TorFX comparison
- Read updated OFX Coupon post.
- Compare TransferWise and OFX side by side.