MoneyGram or Currencies Direct – which of these specialist money transfer companies is better for you? The answer to this is not an easy one, given that it depends on individual requirements. What can be said with certainty is both companies offer better deals than most big banks.
Paying attention only to the monetary aspect of a fund transfer is not the ideal way to pick a suitable service provider. This Currencies Direct vs. MoneyGram comparison is divided into multiple sections so you can choose the company that suits you best:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Overseas Money Transfer Fees
There is no clear winner in this section on the MoneyGram vs. Currencies Direct comparison because the fee you have to pay depends on multiple factors. When compared with banks, picking either Currencies Direct or MoneyGram will likely work well for you.
- The fee you have to pay depends on factors such as the mode of payment, the transfer method, and the destination country.
- If you transfer USD $1,000 from the U.S. to a bank account in India and pay using an American checking account, you do not have to pay any fee. If you pay for the same transfer via a debit or credit card, Currencies Direct charges a USD $9.99 fee.
- The MoneyGram calculator gives you an easy way to find out how much your transfer will cost.
- Up to 90% of the fund transfers Currencies Direct processes do not attract any fees.
- The company informs you of all applicable fees, if any, well in advance.
- FAQs found on the Currencies Direct website give you a clear indication of how much your transfer will cost.
Ease of Use
The language you want to use for website access can have a bearing on whether you should use MoneyGram or Currencies Direct. Registering with both companies takes no more than a few minutes. You can start transferring funds as soon as the verification of your details is complete.
- MoneyGram provides website access in more languages than Currencies Direct. Some of the options include Spanish, French, Italian, Portuguese, German, Polish, Norwegian, Swedish, Chinese, Japanese, and Indonesian.
- Depending on where you live, you can pay for your transfer via an electronic bank transfer, debit card, credit card, or even cash.
- You can transfer funds to an overseas bank account or get the recipient to collect money from a cash pick-up center. The methods offered can vary according to the destination country.
- As a MoneyGram Plus member, you get access to apps for devices that run on iOS and Android.
- MoneyGram Plus members receive transfer-related notifications via email.
- Access to the Currencies Direct website is available in English, French, Spanish, Italian, Portuguese, Norwegian, Swedish, and Chinese.
- You can pay via electronic bank transfers, debit cards, direct debits, and checks. Not all payment options are available in all countries.
- Currencies Direct provide an app for iOS devices to all its customers.
Regular Overseas Payments
Picking Currencies Direct or MoneyGram is easy if you want to set up scheduled transfers. While Currencies Direct lets you do this easily, MoneyGram does not offer this service yet.
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MoneyGram Vs Currencies Direct Updates
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