MoneyGram is the world's second-largest money transfer network, operating in more than 200 countries and territories with over 350,000 agent locations. For millions of migrants and diaspora families, it's often the only option for getting cash into the hands of unbanked relatives in remote areas. But MoneyGram's fees — split across explicit transfer fees and a hidden FX markup — vary enormously depending on how you send.
In 2026, MoneyGram offers two distinct channels: MoneyGram Online (moneygram.com and the mobile app) and in-person at an agent location. Online transfers typically cost $0–$5 in explicit fees for major corridors, while agent transfers run $5–$15 or more. Layer in a 1–3.5% FX markup embedded in the exchange rate, and the all-in cost difference between channels can be $10–$20 on a single $500 transfer.
This guide breaks down every MoneyGram fee structure for 2026: online versus agent rates, bank deposit versus cash pickup, corridor-by-corridor cost comparisons, and a head-to-head with Wise and crypto rails — so you know exactly when MoneyGram makes sense and when a cheaper alternative exists.
350,000+ — MoneyGram agent locations globally — second only to Western Union's network (MoneyGram International, 2025 Annual Report)
Like every traditional remittance provider, MoneyGram earns revenue from two sources: an explicit transfer fee shown at checkout, and an FX markup embedded in the exchange rate it offers. Most customers focus on the visible fee and overlook the markup — which is often larger.
The FX markup is the gap between the mid-market exchange rate (the 'real' rate on Google or XE.com) and the rate MoneyGram quotes you. For a $500 USD-to-PHP transfer in early 2026, MoneyGram might quote 55.80 pesos per dollar while the mid-market rate is 57.00. That 2.1% gap costs you $10.50 in hidden currency conversion fees — on top of any explicit fee charged at checkout.
To find your true all-in cost, add the explicit fee to the dollar value of the FX markup. MoneyGram's online price estimator shows both separately — the 'transfer fee' and the 'exchange rate.' Divide the markup from mid-market by the send amount to get the percentage cost. The World Bank's Remittance Prices Worldwide database uses this total-cost methodology for all its benchmarking.
Cash pickup transfers carry a worse FX markup than bank-deposit transfers in every corridor MoneyGram operates. The company uses the rate differential to offset the cost of paying out cash through its agent network.
MoneyGram Online — accessible at moneygram.com or via the iOS/Android app — is consistently the cheapest MoneyGram channel. Bank account (ACH) funding typically carries a $0 explicit fee for high-volume corridors like USD→INR, USD→MXN, and USD→PHP, rising to $1.99–$4.99 for corridors in Africa and Eastern Europe. Debit card funding adds $0–$3 on most corridors; credit cards add $3–$5 more and may trigger a cash-advance fee from your card issuer.
The online FX markup for bank-to-bank transfers is typically 1–2% above mid-market for major corridors, and 2–3% for African and Eastern European corridors. Online cash pickup transfers carry a slightly worse FX markup — typically 0.3–0.7% higher than the bank deposit rate for the same corridor.
MoneyGram Online's most competitive corridors are USD→INR (often $0 fee, ~1.1% FX markup) and USD→MXN ($0–$1.99 fee, ~1.5% markup), where it approaches Remitly's pricing. African corridors — USD→NGN, USD→KES, USD→GHS — are more expensive with markups ranging 2–3%, making Wise and crypto rails significantly cheaper.
| Corridor | Explicit Fee | Est. FX Markup | All-In Cost | All-In % | Delivery |
|---|---|---|---|---|---|
| USD → INR (India) | $0 | ~1.1% | ~$5.50 | 1.1% | Bank deposit, 1–3 days |
| USD → MXN (Mexico) | $0–$1.99 | ~1.5% | ~$7.50–$9.50 | 1.5–1.9% | Bank deposit, 1–2 days |
| USD → PHP (Philippines) | $0 | ~2.1% | ~$10.50 | 2.1% | Bank deposit, 1–2 days |
| USD → NGN (Nigeria) | $1.99–$4.99 | ~2.8% | ~$16.00–$19.00 | 3.2–3.8% | Bank deposit, 1–3 days |
| USD → KES (Kenya) | $4.99 | ~2.5% | ~$17.50 | 3.5% | Bank/M-PESA, 1–2 days |
| USD → GHS (Ghana) | $4.99 | ~3.0% | ~$19.99 | 4.0% | Bank deposit, 2–3 days |
| USD → BRL (Brazil) | $0 | ~1.8% | ~$9.00 | 1.8% | Bank deposit, 1–2 days |
| USD → ZAR (South Africa) | $1.99 | ~2.0% | ~$11.99 | 2.4% | Bank deposit, 1–3 days |
The MoneyGram mobile app (iOS and Android) uses the same fee schedule as moneygram.com — there is no separate 'app fee' or 'app rate.' The app's key advantage is convenience: saved recipient details, payment methods, and transfer history make repeat sends faster. MoneyGram also runs app-exclusive promotional offers periodically, including first-transfer fee waivers for new installs and slightly improved exchange rates on select corridors for limited windows.
The app supports scheduled transfers for recurring remittances on select corridors — useful for families sending a fixed amount monthly. MoneyGram's 'Rate Alert' feature (added in 2024) notifies users when a target corridor exchange rate improves, helping frequent senders time their transfers.
For large one-off transfers, always verify rates at both the app and the website before sending — occasionally minor discrepancies appear during promotional rollouts, though the standard pricing is identical across both.
MoneyGram regularly offers first-transfer fee waivers and improved FX rates for new app users on major corridors like USD→INR and USD→MXN. The promotion is usually displayed on the App Store or Google Play listing. A first-send discount can cut the all-in cost by 50–80% for that one transfer — worth taking before switching to a recurring provider.
Agent transfers — made in person at a Walmart, CVS, Kroger, grocery store, or independent MoneyGram agent — are the most expensive MoneyGram option. Agent explicit fees for a $500 transfer typically run $7–$16, versus $0–$5 online. The FX markup at agent locations is generally 0.3–0.8% worse than the equivalent online rate for the same corridor and delivery method.
Agent transfers have two genuine advantages: they accept cash payments (important for unbanked senders), and cash pickup at the destination is available in minutes via MoneyGram's 10-minute delivery promise on select corridors. For urgent transfers where the recipient needs cash at a local MoneyGram agent, the agent channel is often the fastest reliable option.
Walmart MoneyGram agent desks typically charge $4–$10 for sends under $1,000 to major corridors — lower than many independent agents. Always ask for the fee and exchange rate before confirming; the receipt must display both before you sign.
For senders with a bank account or debit card, the agent premium — an extra $5–$12 in fees plus a worse FX rate — is difficult to justify when online transfers take just minutes to initiate at materially lower cost.
| Channel | Explicit Fee | Est. FX Markup | All-In Cost | Speed | Best For |
|---|---|---|---|---|---|
| Online (bank acct) | $1.99 | ~1.8% | ~$11.00 | 1–2 days | Low cost, banked sender |
| Online (debit card) | $3.99 | ~1.8% | ~$13.00 | Minutes–1 day | Fast, banked sender |
| MG App | $1.99 | ~1.8% | ~$11.00 | 1–2 days | Convenience, repeat sends |
| Agent (Walmart) | $8–$10 | ~2.3% | ~$19.50–$21.50 | Minutes | Cash senders, urgent |
| Agent (Independent) | $10–$16 | ~2.5% | ~$22.50–$28.50 | Minutes | Local access only |
Sending cash at an agent for cash pickup at the destination stacks the highest fee tier with the worst FX markup. A $500 USD→NGN transfer via agent-to-cash-pickup can cost $22–$32 all-in (4.4–6.4%) — at or above the World Bank's 6.36% global average (Remittance Prices Worldwide, Issue 54, Q3 2025). If both sender and recipient have bank accounts, use the online/app channel with bank-deposit delivery instead. Reserve agent cash pickup for recipients with no banking access.
Within each MoneyGram channel, the delivery method is the second largest cost variable after channel choice. MoneyGram offers four delivery options depending on corridor: bank deposit, cash pickup at a MoneyGram agent, mobile wallet (GCash in Philippines, M-PESA in Kenya, bKash in Bangladesh), and in some markets a home delivery option.
Bank deposit is the cheapest delivery method in every corridor where it's available. MoneyGram applies a better FX markup for bank deposits versus cash pickup — the difference is typically 0.5–1.2%. On a $500 transfer, choosing bank deposit over cash pickup saves $2.50–$6.00, with no difference in explicit fee on many corridors.
Mobile wallet delivery — available for GCash (Philippines), M-PESA (Kenya), and bKash (Bangladesh) — sits between bank deposit and cash pickup in total cost, with the significant advantage of near-instant delivery. GCash delivery for USD→PHP from MoneyGram Online is typically same-day or faster, and the FX markup is only marginally worse than bank deposit.
Cash pickup remains the right choice when the recipient is unbanked, in a rural area, or needs funds within the hour. The MoneyGram agent network's geographic reach — particularly in rural Mexico, Philippines, and West Africa — is its core differentiator from digital-only providers.
| Delivery Method | Explicit Fee | FX Markup | All-In Cost | Speed |
|---|---|---|---|---|
| Bank deposit | $0 | ~2.1% | ~$10.50 | 1–2 business days |
| GCash mobile wallet | $0 | ~2.4% | ~$12.00 | Minutes–hours |
| Cash pickup | $0–$3.99 | ~2.8% | ~$14.00–$18.00 | Minutes (10-min promise) |
MoneyGram's explicit fees are flat or tiered by amount bracket — meaning the explicit fee as a percentage of the send amount shrinks as you send more. However, the FX markup scales linearly with amount. A 1.5% markup on $500 costs $7.50; on $2,000 it costs $30. This makes the choice of provider more consequential for large transfers.
For small transfers under $200, MoneyGram's flat-fee structure can be relatively competitive — a $0 fee with a 1.1% markup on $100 to India costs just $1.10 all-in, which is difficult to beat. For large transfers above $1,000, the FX markup dominates and Wise (0% markup) or crypto rails (0.3–0.8% effective markup) become materially cheaper.
MoneyGram occasionally runs $0-fee promotions on high-volume corridors for debit card sends. Check moneygram.com's price estimator before each transfer — promotional pricing changes frequently and can shift the cost comparison significantly for a one-time send.
| Send Amount | Explicit Fee | FX Markup (1.1%) | Total All-In Cost | All-In % |
|---|---|---|---|---|
| $100 | $0 | $1.10 | $1.10 | 1.1% |
| $200 | $0 | $2.20 | $2.20 | 1.1% |
| $500 | $0 | $5.50 | $5.50 | 1.1% |
| $1,000 | $0 | $11.00 | $11.00 | 1.1% |
| $2,000 | $0 | $22.00 | $22.00 | 1.1% |
Wise (formerly TransferWise) charges zero FX markup — it always uses the mid-market rate — and earns solely from an explicit transfer fee that varies by corridor and payment method. This makes Wise structurally cheaper than MoneyGram on virtually every bank-to-bank corridor.
The gap is smallest on MoneyGram's most competitive online corridors. USD→INR is the clearest example: MoneyGram Online charges ~$0 explicit fee with a ~1.1% markup, while Wise charges ~$5.50 all-in at 0% markup. They land within $1–2 of each other on a $500 send, making it worth checking live rates rather than assuming a winner.
The gap widens significantly on African corridors. For USD→NGN, MoneyGram's ~2.8–3.0% markup versus Wise's 0% means Wise saves $8–$12 per $500 transfer. On USD→KES and USD→GHS, Wise consistently beats MoneyGram by $5–$9 on a $500 send.
MoneyGram's key structural advantage over Wise: cash pickup at 350,000+ agent locations. Wise does not operate a cash pickup network — it only delivers to bank accounts. If your recipient needs cash, MoneyGram (or Western Union) remains the most accessible option among traditional providers.
| Corridor | MG Online All-In | Wise All-In | Wise Savings | Notes |
|---|---|---|---|---|
| USD → INR | ~$5.50 | ~$5.00 | ~$0.50 | Near parity; MG competitive here |
| USD → MXN | ~$9.50 | ~$7.00 | ~$2.50 | Wise moderately cheaper |
| USD → PHP | ~$10.50 | ~$8.50 | ~$2.00 | Close; check live rates |
| USD → NGN | ~$16.00 | ~$10.00 | ~$6.00 | Large gap; MG markup ~2.8% |
| USD → KES | ~$17.50 | ~$9.50 | ~$8.00 | Wise significantly cheaper |
| USD → GHS | ~$19.99 | ~$11.00 | ~$9.00 | MG expensive in Ghana |
| USD → BRL | ~$9.00 | ~$8.50 | ~$0.50 | Near parity; monitor live rates |
| USD → ZAR | ~$11.99 | ~$10.00 | ~$2.00 | Wise cheaper; both have bank deposit |
Crypto rails — USDC transferred over Stellar, Tron, or Solana and cashed out via local exchange partners (CoinDCX for India, Bitso for Mexico, Luno for Kenya and Nigeria, VALR for South Africa, Quidax for Ghana) — operate on a fundamentally different cost model. Blockchain network fees are under $0.01 on Stellar or Tron. Total all-in cost comes from the on-ramp (buying USDC via Coinbase, Kraken, or Gemini: typically 0.3–0.8%) and off-ramp (selling for local currency on the destination exchange: 0.3–1.5%).
The result: crypto rails cost $3–$8 all-in on a $500 transfer for most corridors, settling in minutes. MoneyGram Online — already its cheapest channel — costs $9–$20 on the same corridors. For African corridors where MoneyGram charges 3–4% all-in, crypto rails at 1–1.5% save $10–$15 per $500 transferred.
There is one notable intersection: MoneyGram Ramps, launched in 2025, uses Stellar USDC and Circle's infrastructure to power MoneyGram's digital payouts to 170+ countries. Senders using the MoneyGram Ramps API get crypto-rail economics with MoneyGram's cash pickup network on the receive side — a hybrid that could significantly reduce costs for MoneyGram's institutional and developer customers.
For individual senders comfortable with the on-ramp workflow, pure crypto rails remain the cheapest option on almost every corridor. $10–$15 saved per send equals $120–$180 saved annually on monthly $500 transfers.
| Corridor | MG Online All-In | Crypto Rail All-In | Annual Saving (Monthly Sends) | Crypto Exchange |
|---|---|---|---|---|
| USD → INR | ~$5.50 | ~$4.50 | ~$12/yr | CoinDCX (Stellar/Tron) |
| USD → MXN | ~$9.50 | ~$5.00 | ~$54/yr | Bitso (Stellar/Tron) |
| USD → PHP | ~$10.50 | ~$5.50 | ~$60/yr | PDAX / Coins.ph |
| USD → NGN | ~$16.00 | ~$7.00 | ~$108/yr | Quidax / Luno (Tron) |
| USD → KES | ~$17.50 | ~$6.50 | ~$132/yr | Luno (Stellar) |
| USD → ZAR | ~$11.99 | ~$5.50 | ~$78/yr | VALR (Stellar/Tron) |
| USD → GHS | ~$19.99 | ~$7.00 | ~$156/yr | Quidax (Tron) |
$156/yr — Saved switching from MoneyGram Online to crypto rails on monthly $500 USD→GHS transfers (RemitRoutes rate data, Q1 2026)
In May 2025, MoneyGram launched MoneyGram Ramps — a developer API that uses Stellar blockchain and Circle USDC to power digital payouts. Unlike MoneyGram's consumer service, MoneyGram Ramps is targeted at fintech developers, neobanks, and businesses that need to embed cross-border payments.
MoneyGram Ramps enables cash-out in 170+ countries and bank deposit in 30+ countries, with near-real-time settlement via Stellar. For developers building remittance products, this means combining crypto-rail transaction speeds with MoneyGram's licensed cash distribution network — a significant capability gap that previously required multiple provider relationships.
For individual consumers, MoneyGram Ramps is not directly accessible — it's an API product for businesses. However, consumer-facing applications built on Ramps may emerge offering better pricing than MoneyGram's standard consumer service, as the underlying Stellar transaction costs are under $0.01 per transfer.
RemitRoutes tracks MoneyGram Ramps-powered corridors separately from standard MoneyGram pricing. If you're a developer building on this infrastructure, use the compare endpoint to see real-time crypto rail costs alongside traditional provider rates.
Despite higher fees on most corridors versus Wise and crypto rails, MoneyGram remains the best option in specific scenarios. First and most importantly: cash pickup for unbanked recipients. MoneyGram's 350,000+ agent locations cover rural areas of Mexico, Philippines, India, and dozens of African countries that digital-only providers cannot reach. If your recipient has no bank account, MoneyGram (and Western Union) are often the only viable options.
Second: unbanked senders. MoneyGram's agent network accepts cash payments in person. Digital providers like Wise and Remitly require a linked bank account or debit card. For senders without banking access, agent transfers remain necessary.
Third: certain corridors where MoneyGram is genuinely competitive. USD→INR via MoneyGram Online bank deposit (often $0 explicit fee, ~1.1% markup) puts it within $1–2 of Wise on a $500 transfer. If you're already using MoneyGram for this corridor, the marginal savings from switching are modest.
Fourth: urgent cash delivery. MoneyGram's '10-minute delivery' promise for cash pickup on select corridors is competitive with Western Union's Money in Minutes. For emergency transfers where a family member needs cash within the hour in a country with limited mobile wallet penetration, MoneyGram's speed and reach are difficult to match.
MoneyGram's exchange rates and fee structures update daily and sometimes intraday. Before every transfer, use moneygram.com's price estimator (no account required) to see the current all-in cost. Then open RemitRoutes to compare against Wise and crypto rail rates side-by-side. The 2-minute comparison can save $5–$15 per transfer — or confirm that MoneyGram is already the best option for your corridor.
MoneyGram runs promotional fee waivers and improved exchange rates regularly, particularly around major remittance-sending holidays: Diwali (USD→INR), Christmas (USD→MXN and USD→PHP), Eid (USD→PKR corridors), and Filipino festivals. First-transfer promotions for new online accounts often waive the transfer fee entirely and offer a modestly improved FX rate.
MoneyGram Plus is the company's loyalty rewards program, offering points per transfer that can be redeemed as fee credits. Frequent senders accumulating points can reduce effective fees by $1–$3 per transfer over time. The program has received mixed reviews for redemption complexity, but for high-volume senders (weekly or bi-weekly transfers), the accumulating credits add up to meaningful savings over a year.
Promotional rates are not a reliable basis for ongoing cost planning. Always model your recurring transfer budget using standard rates. Use promotions opportunistically for one-time or infrequent sends where MoneyGram offers a first-send discount.
Enter your send and receive countries and transfer amount to see real-time all-in costs from all providers side-by-side. No account required.
MoneyGram's all-in cost to send $500 depends on channel and corridor. Online bank-to-bank to India typically costs ~$5.50 (1.1% all-in). The same $500 sent to Nigeria costs ~$16–$19 online (3.2–3.8%) or $22–$32 at an agent with cash pickup (4.4–6.4%). Always check both the explicit fee and the FX markup to calculate total cost.
Yes, consistently. MoneyGram Online carries $0–$5 explicit fees versus $7–$16 at agent locations for the same corridors, plus a 0.3–0.8% better FX markup. A $500 USD→MXN transfer costs ~$11 online versus $19–$28 at an agent. Use an agent only if you're paying in cash or your recipient needs cash pickup.
MoneyGram applies an FX markup of roughly 1.1–3.5% above the mid-market rate, depending on corridor and delivery method. The lowest markups are on USD→INR and USD→BRL online bank deposit (~1.1–1.8%). The highest markups appear on USD→GHS and USD→KES cash pickup (3–3.5%+). Compare the rate MoneyGram quotes against the Google or XE mid-market rate to calculate your specific markup.
Yes, in two ways. First, MoneyGram applies a worse FX markup for cash pickup — typically 0.5–1.2% above the bank deposit rate on the same corridor. Second, some corridors add an explicit fee increment for cash pickup. On USD→PHP, cash pickup costs $3.50–$7.50 more in total than bank deposit. Always choose bank deposit when your recipient has a bank account.
Wise is cheaper on nearly every corridor because it uses the mid-market rate with 0% FX markup, charging only an explicit transfer fee. On USD→INR, both are within ~$0.50 of each other on a $500 send. On USD→NGN and USD→KES, Wise saves $6–$8 per $500 transfer. MoneyGram's advantage: it has a cash pickup network (350,000+ agents) while Wise only supports bank account delivery.
Yes, substantially on most corridors. Crypto rails via USDC on Stellar or Tron — using Coinbase or Kraken on-ramp and local exchanges (CoinDCX, Bitso, Luno, VALR, Quidax) on the off-ramp — cost $4–$7 all-in on a $500 transfer. MoneyGram Online costs $9–$20 on the same corridors. African corridors show the largest gap: switching from MoneyGram to crypto rails saves $100–$156/year for monthly $500 transfers to Ghana or Kenya.
MoneyGram Ramps is a developer API launched in May 2025 that uses Stellar blockchain and Circle USDC to power MoneyGram's digital payouts. It enables near-instant settlement to 170+ countries via cash pickup or bank deposit, at crypto-rail transaction costs. It's a B2B product for fintech developers — not available directly to consumers — but consumer apps built on Ramps may offer improved pricing versus MoneyGram's standard service.
Speed depends on delivery method and channel. Cash pickup via MoneyGram's '10-minute delivery' service is available within minutes on select corridors. Online bank deposits typically take 1–3 business days. Mobile wallet delivery (GCash, M-PESA, bKash) is usually instant to same-day. Real-time bank transfers are available on select corridors like USD→INR. Agent-initiated transfers with cash pickup are the fastest but most expensive option.
Compare live rates across 370+ corridors on RemitRoutes · methodology.