MoneyGram or WorldFirst – 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 WorldFirst or MoneyGram requires that you identify your needs at the very beginning, and compare the differences accordingly. To simplify the decision making process, this WorldFirst 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 WorldFirst 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.
- You pay no fees for personal transfers.
- You need to transfer a minimum of SG $2,000 through the Singapore-based website.
- With the Hong Kong-based website, you need to transfer at least HK $10,000.
- To view the most up-to-date fee structures, visit 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 WorldFirst 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 WorldFirst website is offered in English, French, Chinese, and Japanese.
- WorldFirst lets you get started with the account opening process over the phone.
- You can pay for WorldFirst transfers via debit cards, credit cards, electronic bank transfers, BACS, and CHAPS.
- All WorldFirst customers have access to apps for iOS and Android.
Regular Overseas Payments
Whether to choose MoneyGram or WorldFirst can depend on this factor. While setting up routine overseas transfers through WorldFirst is easy, MoneyGram does not offer this option as of now.
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