MoneyGram International Exchange Rate Today | Transfer Fee

Moneygram international exchange rate is one of the many amazing platforms that has contributed to the evolvement in the world of commerce over the years. With the introduction of online banking and e-commerce, sending and receiving money from any part of the world has been made easy.


However one of the hassles of online banking is the exchange rates which vary from platform to platform and from currency to currency.

In today’s article, we will look at MoneyGram’s international exchange rate, payment methods, and transfer fees. This article will also look at how MoneyGram compares to other money transfer services in the e-commerce space.

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All You Need to Know About MoneyGram Online

moneygram international exchange rate

After Western Union, MoneyGram is the second-largest money transfer service in the world. It offers a variety of functions and you can send and receive money through its website or mobile app. Its functions include Money Transfer, bill payment services, supply of money orders, and official check outsourcing services which are available to financial institutions in the United States.

It also offers crypto functions through a relationship with Coinme, which aids the purchase or exchange of Bitcoin for US dollars at selected MoneyGram locations.

MoneyGram International Exchange Rates

As you know by now, exchange rates differ from one financial institution to another. MoneyGram exchange rates vary by ten percent depending on the currency.

While you can find the MoneyGram exchange rates on their website or app, it is important to note that exchange rates change all the time, and vary depending on how you arrange your transfer.

It is also important to note that it depends on several factors such as market conditions, currency instability, and the demand for specific currencies.

These factors cause rates to become unstable daily. The platform also adds a charge on top of the rates which is how they make their profits.

In other words, when you use MoneyGram to make transactions, you will not get the full mid-market exchange rate. Now the mid-market exchange rate is the rate that is used when currencies are bought and sold on wholesale markets.

This rate is not what is used when passed on to customers who want to send or convert money. Financial institutions and currency services would add an extra fee to the mid-market rate to calculate the retail exchange rate they offer customers.

This is very common, thus, when you use MoneyGram to perform transactions, you are not getting the normal rate, what you will get is the MoneyGram’s rate which includes their margin, which is how they make profits, but just as we mentioned before, this depends on the currency and the conditions of the economy.

The MoneyGram international exchange rate of USD to GBP as of today is 0.78999

MoneyGram Transfer Fee On The App

moneygram international exchange rate

MoneyGram fees to transfer money differ depending on the destination, and how much money is being transferred, and so on.  When using MoneyGram to send money, it is important to note that there are two fees to be paid.

There’s the normal transfer fee and then there’s the currency exchange fee. The former is the normal fee you’re going to pay regardless of the currency or the amount you are sending.

On the other hand, the latter is the percentage of the money you are sending, and it is calculated based on the mid-market rate and the MoneyGram’s extra fee.

How to Get The Best Rates While Using MoneyGram

Usually, MoneyGram’s margin is up to five percent, making it one of the most expensive options for sending money anywhere in the world. While we are aware of this fact, there are ways to get the best rates while using the platform.

In this section of this article, we’ll be looking at the various tips on how to get the best rates on MoneyGram.

  1. It is cheaper to send money with MoneyGram online than at a location and pay via transfer if you are sending it for a cash pickup.
  2. Send larger amounts of money in a transaction as the percentage of the total amount tends to be lower.
  3. Use a bank transfer or debit card as the service fee is considerably lower when being used.
  4. If you can, avoid sending money on holidays or weekends as charges are usually higher then.
  5. Choose a fixed-rate transfer that would help ease your mind about the unstable rates.
  6. Choose the “receive in cash” option.
  7. Use a promo code or referral link.

Pros and Cons

There are good sides of using the app for your transfers as well as there are some downsides and below is an outline of them;

Advantages: Pros

  1. It is a safe option for financial transactions.
  2. It is quick and easy to use.
  3. Transactions are fast.

Disadvantages: Cons

  1. High transaction fees
  2. It is not available in all locations.
  3. Transferred can get canceled without warning.
  4. Users have complained about the verification process.

This banking platform allows you to send money abroad from anywhere in the world. Before going ahead with transactions, check the company’s website for the current rates.

We cannot wait to hear your thoughts on the platform.

Are you satisfied with MoneyGram’s exchange rate or their transfer fees?

Leave a comment.


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