Personal Features

Moneygram

50

50

MoneyGram gives individuals the ability to send money to most countries. 

What MoneyGram does

  • International money transfers
  • Cash pick-ups
  • Mobile airtime and mobile wallet top ups
  • Bill payments (US only)
  • Transfers to inmates (US only)
  • Regular transfers

What MoneyGram doesn’t do

  • Personal account managers
  • Forex hedging tools
  • Digital wallets
  • Unique local multi-currency accounts
  • FX optimised travel cards

XE Money Transfer

33

33

XE Money Transfer serves personal customers from a number of countries, giving them easy means to send money to more than 170 countries.

What XE Money Transfer does

  • International money transfers
  • Forward contracts
  • Market orders
  • Regular transfers

What XE Money Transfer doesn’t do

  • Personal account managers for low volume transfers
  • Cash pickup
  • Unique local multi-currency accounts
  • Digital wallets
  • FX optimized travel card

MoneyGram wins!

MoneyGram scores better in the Personal Features category.

Moneygram
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Winner

Business Benefits

Moneygram

11

11

MoneyGram provides very limited international money transfer services for businesses.

What MoneyGram for business offers 

  • International money transfers
  • Biller solutions
  • Check processing
  • Money order services

What MoneyGram for business doesn't do

  • Risk management tools
  • FX-optimized travel cards
  • Unique local multi-currency accounts
  • Dedicated currency managers
  • Solutions for online sellers
  • Accounting integration

XE Money Transfer

67

67

XE Money Transfer gives business clients the option to choose from varied services.

What XE Money Transfer for business offers

  • Mass payments
  • Payments UPI for receiving online payments
  • Forward contracts
  • Market orders
  • Account managers

What XE Money Transfer for business doesn’t do

  • Business travel card
  • Multi-currency receiving accounts
  • Digital wallets
  • Solutions for online sellers
  • Accounting integration

XE Money Transfer wins!

XE Money Transfer scores better in the Business Benefits category.

XE Money Transfer
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Fees & Exchange Rates

Moneygram

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8

MoneyGram fees

Exchange rate margin fee - This can be an additional 5% on top of real time exchange rates. The exchange rate margin fee increases with credit card payments and cash pickup of funds.

Additional fees - MoneyGram money transfer fees vary depending on where you and the recipient reside, the mode of payment, the transfer amount, and the transfer method.

  • Cash pickup fees - Sending money to a bank account is typically more affordable than sending it to a cash pickup location. Sending cash for location pickup can cost an additional US$5.
  • Credit / debit card payment fees - Paying through a bank transfer is usually more cost-effective than paying via a debit/credit card. Credit/debit card payments can cost between US$3 and $15

XE Money Transfer

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46

XE Money Transfer fees

Personal customers pay no transfer fees when sending money through XE Money Transfer.
 

Are there additional XE Money Transfer fees?

Yes, these come in the form of the exchange rate margin that XE Money Transfer applies on existing mid-market rates.


XE Money Transfer wins!

XE Money Transfer scores better in the CATEGORYNAME category.

XE Money Transfer
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Ease of Use

Moneygram

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64

Signing up - Fairly easy, using either the MoneyGram app or website.

Payment options -  Bank account transfers, debit cards, credit cards and cash.

Speed - Up to 4 business days, and even more in some instances.

Multilingual website - Use the MoneyGram website in a number of languages.

Mobile apps - Available for iOS and Android.


XE Money Transfer

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79

What XE Money Transfer does well

Sign up process - Register online or over the phone, by providing some basic information.

Payment options - Bank account transfers, debit cards and credit cards.

Phone transfers - Initiate transfers over the phone.

Speed - Most transfers process within 1 - 2 business days.

Mobile app - Available for iOS and Android. 
 

Where XE Money Transfer could improve

ID verification - This process can take 1- 4 business days.


XE Money Transfer wins!

XE Money Transfer scores better in the Ease of Use category.

XE Money Transfer
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Winner

Support & Countries

Moneygram

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69

Supported payment currencies - Accepts local currency payments from its customers in North America, Latin America, the Caribbean, Europe, Africa, Asia, the Middle East and Oceania.

Supported destination currencies - MoneyGram lets you send money to more than 200 countries and territories, and offers payouts in local currencies.

Customer support - Local phone and chat support provided in several countries.


XE Money Transfer

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56

What XE Money Transfer does well

Supported destination countries and currencies - XE Money Transfer supports transfers to over 170 countries, in over 60 currencies.

Customer support - Customer support is available via email and over the phone, in English, French and Spanish.
 

Where XE Money Transfer could improve

Website languages - You can use the XE Money Transfer website only in English.


MoneyGram wins!

MoneyGram scores better in the Support and Countries category.

Moneygram
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Winner

Trust & Transparency

Moneygram

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44

Regulation - Regulated by financial regulatory bodies in different countries.

Average customer service - Gets a rating of Great on Trustpilot. However, several customer reviews highlight issues with the company's customer service.

Poor exchange rate transparency - The markup on existing exchange rates can be more than 5% for some currencies. 


XE Money Transfer

94

94

What XE Money Transfer does well

  • XE Money Transfer is fully regulated in different countries.
  • Rates as Excellent on Trustpilot.

Where XE Money Transfer could improve

Exchange rate margin transparency - XE Money Transfer’s exchange rates include margins that customers find out only after confirming their transfers.


XE Money Transfer wins!

XE Money Transfer scores better in the Trust and Transparency category.

XE Money Transfer
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Winner

The Result

Winner ribbon iconWinner

 XE Money Transfer

There is no competition here with XE the clear winner over MoneyGram.  XE leads with its business offerings, more transparent fees and exchange rates and superior services.