MoneyGram or World First – choosing one of these companies to meet your overseas fund transfer requirements can be easy, provided you know how to differentiate between the two. The good thing is both companies can lead to savings in time and money when compared to most banks.
Choosing World First or MoneyGram requires that you identify your needs at the very beginning, and compare the differences accordingly. To simplify the decision making process, this World First vs. MoneyGram comparison is divided into a series of sections.
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Fund Transfer Fees
Using either MoneyGram or World First can lead to savings in fees when compared with how much overseas fund transfers cost through most banks.
- The fees MoneyGram charges can vary according to the country you are transferring funds to, the mode of payment, and the desired transfer method.
- Payments through electronic bank transfers attract little to no fees.
- Expect to pay slightly higher fees for payments made using debit and credit cards.
- Transferring money to a cash pick-up center is typically more expensive than transferring funds to a bank account.
- The estimate tool gives you a fair indication of how much your transfer will cost.
- The location-specific World First website you use has a bearing on the fees you have to pay.
- The general FAQs section on the World First website gives you an indication of how much your transfer will cost.
- You can transfer a minimum of £1,000 through the website dedicated to the UK market. No transfer fees apply.
- With the U.S.-based website, transfers over USD $10,000 do not attract any fees. Transfers below this amount add USD $10 as fees.
- If you use the Australian website, you have to pay AUD $10 in fees if the transfer amount is below AUD $10,000. All transfers over this amount are free.
- To view the most up-to-date fee structures, visit WorldFirst.com/us/, WorldFirst.com/uk/, WorldFirst.com/en-fr/, WorldFirst.com/au/, WorldFirst.com/en-cn/, WorldFirst.com/en-jp/, WorldFirst.com/en-sg/, or WorldFirst.com/en-hk/.
Ease of Use
One company does better than the other in this World First vs. MoneyGram comparison when it comes to website access in foreign languages. Registering online with both companies is easy and takes little time.
- MoneyGram offers website access in various foreign languages, some of which include Chinese, Danish, Dutch, French, German, Greek, Indonesian, Italian, Korean, Portuguese, Spanish, and Vietnamese.
- Payment methods can vary according to where you live. Your options can include cash, bank transfers, debit cards, and credit cards.
- Depending on the destination country, MoneyGram can transfer funds to bank accounts and cash pick-up centers. In some countries, it lets you top off mobile wallets and also offers home delivery of cash.
- You can benefit from quicker turnaround times as a MoneyGram Plus member. You can also view your transaction history, receive transaction notifications, and use apps for iOS and Android.
- Access to the World First website is offered in English, French, Chinese, and Japanese.
- World First lets you get started with the account opening process over the phone.
- You can pay for World First transfers via debit cards, credit cards, electronic bank transfers, BACS, and CHAPS.
- All World First customers have access to apps for iOS and Android.
Regular Overseas Payments
Whether to choose MoneyGram or World First can depend on this factor. While setting up routine overseas transfers through World First is easy, MoneyGram does not offer this option as of now.
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