MoneyGram and Remitly are two of the most widely used international money transfer services, collectively serving millions of customers across 200+ countries and territories. The best choice depends on your priority: Remitly generally offers lower fees and better exchange rates on popular routes, while MoneyGram excels in cash pickup speed and physical agent availability worldwide. Below is a full breakdown to help you decide.
What Is MoneyGram?
MoneyGram is one of the oldest money transfer brands in the world, founded in 1940 and headquartered in Dallas, Texas. It allows customers to send money for cash pickup, bank deposit, or mobile wallet delivery in over 200 countries. MoneyGram operates through a vast network of agents and kiosks alongside its digital platform, making it particularly strong for recipients who need to collect cash in person.
The platform has invested heavily in its digital app and online experience in recent years, narrowing the feature gap with newer fintech competitors. MoneyGram also partners with convenience stores, pharmacies, and retail outlets to maximize its physical footprint.
What Is Remitly?
Remitly is a Seattle-based digital remittance company founded in 2011, designed from the ground up as a mobile-first and web-based service. Unlike MoneyGram, Remitly has no physical agent locations — all transactions happen digitally. This model allows Remitly to keep overhead low, resulting in competitive pricing and consistently stronger exchange rates on many corridors.
Remitly serves customers in the US, UK, Canada, Australia, and several European countries, sending to a growing list of 145+ destination countries. Its Express option promises delivery in minutes for a premium fee, competing directly with traditional wire services.
MoneyGram vs Remitly: Side-by-Side Comparison
| Feature | MoneyGram | Remitly |
|---|---|---|
| Founded | 1940 | 2011 |
| Physical Agents | Yes — 350,000+ locations | No — digital only |
| Countries Served | 200+ | 145+ |
| Delivery Methods | Cash pickup, bank, mobile wallet | Bank, cash pickup (via partners), mobile wallet |
| Transfer Speed | Minutes (Express), 1-3 days (standard) | Minutes (Express), 2-5 days (standard) |
| Exchange Rate Markup | 1-5% above mid-market | 0.5-2% above mid-market |
| Transfer Fees | $0-$15 (varies by corridor) | $0-$3.99 (varies by corridor) |
| Minimum Transfer | $1 | $3 |
| Maximum Transfer | Varies by country (up to $30,000+) | Varies by country (up to $100,000) |
| Promotional First Transfer | Often $0 fee for new users | $0 fee for first transfer on select corridors |
| Trustpilot Rating | 3.8/5 | 4.1/5 |
Fees and Exchange Rates
Remitly typically charges lower transfer fees than MoneyGram, especially on popular routes like the US to the Philippines, India, and Mexico. On many corridors, Remitly's fee is as low as $0.99 for a standard transfer. MoneyGram's fees range more widely — from $0 at promotional periods to $15 on certain cash-pickup routes.
Where MoneyGram often falls short is the exchange rate. MoneyGram typically adds a margin of 1-5% above the mid-market rate, meaning the recipient gets less money even if the transfer fee is low. Remitly's margins are usually tighter at 0.5-2%, making it the more cost-effective choice for larger transfers where the exchange rate difference becomes significant.
Always compare both the fee and the exchange rate before sending — a "zero-fee" transfer with a poor exchange rate can cost more than a paid one.
Transfer Speed
Both services offer an express delivery option for urgent transfers:
MoneyGram Express delivers to cash pickup locations within minutes for a higher fee. This is useful when a family member needs cash immediately, and MoneyGram's massive agent network makes cash pickup convenient in many rural areas where other services have no presence.
Remitly Express delivers to bank accounts and mobile wallets in minutes on supported corridors. Remitly's Express option is generally cheaper than MoneyGram's for bank-to-bank transfers, though both carry premium pricing compared to standard delivery.
For standard transfers, both services deliver within 1-5 business days depending on the destination country and bank processing times.
Availability and Geographic Coverage
MoneyGram's greatest strength is its physical network. With over 350,000 agent locations in 200+ countries, recipients in areas with limited banking infrastructure can still collect cash within minutes. This makes MoneyGram the better choice for remitting to regions where digital banking penetration is low.
Remitly has expanded its cash pickup network through partners (including MoneyGram in some regions), but its core strength is digital delivery to bank accounts and mobile wallets. For recipients in countries with strong mobile money infrastructure — such as Kenya (M-Pesa), the Philippines (GCash), and India (UPI) — Remitly is often the faster and cheaper choice.
User Experience and App
Remitly's app and website are widely regarded as more modern and easier to navigate. The onboarding process is smooth, transfers are easy to track, and push notifications keep senders informed in real time. Remitly frequently tops "best remittance app" lists for its user experience.
MoneyGram has significantly improved its digital platform in recent years, but its legacy infrastructure sometimes creates friction — exchange rate information can be opaque, and fees are harder to calculate upfront compared to Remitly's transparent pricing model.
Our Verdict
Choose Remitly if you want the lowest total cost, better exchange rates, and a modern digital experience — especially for bank-to-bank transfers on popular routes. Choose MoneyGram if your recipient needs to pick up cash in person and lives in an area where digital financial services are limited. For most users sending from the US, UK, or Canada to common destinations like the Philippines, India, or Mexico, Remitly offers better value overall.
Frequently Asked Questions
Is Remitly cheaper than MoneyGram?
Yes, in most cases Remitly charges lower fees and applies smaller exchange rate markups than MoneyGram, particularly on popular transfer corridors. For a $500 transfer to the Philippines, Remitly typically delivers $10-20 more to the recipient than MoneyGram after fees and exchange rate differences.
Which service is faster for cash pickup?
MoneyGram Express and Remitly Express both offer minute-level delivery to cash pickup locations. MoneyGram has more physical agent locations globally, making cash pickup faster in rural or underserved areas. Remitly's Express option is competitive for urban destinations with strong digital infrastructure.
Can I send money from a bank account to a mobile wallet?
Yes, both MoneyGram and Remitly support mobile wallet delivery in many countries. Remitly supports popular mobile wallets including GCash (Philippines), M-Pesa (Kenya, Tanzania), UPI (India), and bKash (Bangladesh). MoneyGram also supports mobile wallets but the availability varies more by country.
Do MoneyGram and Remitly require ID verification?
Yes, both services require government-issued photo ID verification as part of their Know Your Customer (KYC) compliance requirements. MoneyGram has more flexibility for small transfers without full verification in certain markets, while Remitly typically requires identity verification for all transfers above a modest threshold.
Are there any limits on how much I can send?
Both services impose transfer limits that vary by country, verification level, and delivery method. MoneyGram generally caps cash pickup transfers at lower amounts (often $1,000-3,000 per transaction) while Remitly allows higher amounts — up to $100,000 per transfer on some verified accounts. Your verified identity level determines your sending limit.
What currencies can I send with Remitly?
Remitly supports over 100 currencies for delivery. Popular currencies include Philippine Peso, Indian Rupee, Mexican Peso, Nigerian Naira, Kenyan Shilling, Vietnamese Dong, and Pakistani Rupee. Always check the destination currency is supported before creating an account.
Is MoneyGram or Remitly safer to use?
Both are licensed and regulated financial service providers. MoneyGram is registered with FinCEN and regulated by state money transmitter laws in the US. Remitly holds similar licenses and is registered with the same regulatory bodies. Both use bank-level encryption and two-factor authentication to protect user accounts.
Can I track my transfer in real time?
Yes, both MoneyGram and Remitly provide real-time transfer tracking through their apps and websites. You'll receive SMS or push notifications when the transfer is sent, processed, and delivered. Remitly's tracking interface is generally considered more user-friendly and detailed.
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