Both MoneyGram and Currencies Direct are popular international money transfer services. But which one is better?
Below we compare them on their fees and reviews.
Fees
MoneyGram | Currencies Direct | |
Homepage | ![]() | ![]() |
Transfer Fee | Depends on the location, the sending amount, and the payment method. Can be as low as $0-$15 and as high as $100. | No fee |
Average Exchange Rate Markup | 1% to 5% | 0.4% to 1.4% |
Minimum Transfer Amount | £50 | $1 |
Maximum Transfer Amount | $10,000 per online transfer for most countries (with a $10,000 as a monthly cap) $25,000 for online transfers to 42 select countries from the US. | £25,000 through the mobile app £300,000 by placing a special request |
Top Rated Money Transfer Service
Reviews
MoneyGram | Currencies Direct | |
Trustpilot Rating | 4.5 | 4.9 |
Number of Trustpilot Reviews | 34,800 | 9,400 |
iOS App Rating | 4.9 | 3.5 |
Number of iOS App Reviews | 422,000 | 100 |
Android App Rating | 4.6 | 3.5 |
Number of Android App Reviews | 88,000 | 500 |
Features
MoneyGram | Currencies Direct | |
App Transfers | Yes | Yes |
Online Transfers | Yes | Yes |
Phone Transfers | No | Yes |
In-person Transfers | Yes | Yes |
Available Countries | 200 | 200 |
Number of Currencies | 60 | 70 |
Payment Methods | Bank account Debit card Credit card Cash | Bank account Debit card Credit card Check |
Receiving Methods | Online wallet Bank account Cash pickup Home delivery | Bank account |
Cash Pickup Option | Yes | No |
Payments Flexibility | Web platform Mobile app In person | Web platform Mobile app Phone In person |
Supported Languages | English, Spanish, French, German, Italian, Portuguese, Danish, Norwegian, Arabic, Russian, Ukrainian, Japanese, Czech, Turkish, Hungarian, Polish, Romanian, Indonesian, Thai, Korean, Malaysian, and Chinese | English, French, Spanish, Portuguese, Italian, Norwegian, Swedish, German, Chinese, and Korean |
Transfer Speed | Within minutes (cash transfers) 1-3 days (bank and debit card transfers) | 1-2 hours within Europe 1-2 days for overseas transfers |
Dedicated Dealer | No | Yes |
Instant Custom Quote | Yes | N/A |
Business Features | N/A | Spot contracts Forwards contracts Limit orders Stop-loss orders Recurring transfers Digital multi-currency wallet Rate alerts API portal |
Debit Card | None | Currencies Direct multi-currency debit card |
Cancellation Policy | Cancellations are possible as long as the money hasn’t been claimed by the recipient. | N/A |
Suitability | Small money transfers | Large money transfers |
Top Rated Money Transfer Service
Company Comparison
MoneyGram | Currencies Direct | |
Year Founded | 1940 | 1996 |
Headquarters | Dallas, TX, US | London, UK |
Other Office Locations | Denver (Colorado, US), Minneapolis (Minnesota, US), Brussels (Belgium), São Paulo (Brazil), Vancouver (Canada), Shanghai (China), Hong Kong (China), Mumbai (India), Jakarta (Indonesia), Dublin (Ireland), Rome (Italy), Mexico City (Mexico), Warsaw (Poland), Singapore, Madrid (Spain), Istanbul (Turkey), and London (UK) | Orlando (USA), Saint John (Canada), Mumbai (India), Albufeira (Portugal), 3 locations in South Africa, and 19 locations in Spain |
Annual Trading Volume | N/A | £9.5 billion |
Number of Employees | 2500 | 550 |
Number of Clients | 150 million | 430000 |
Regulatory Institutions | New York State Department of Financial Services in the USA FINTRAC in Canada FCA and HMRC in the UK National Bank of Belgium in EU | FinCEN in the USA FINTRAC in Canada FCA in the UK Bank of Spain in Spain and the EU ACPR in France FSB in South Africa |
Awards | Best Cash Innovation and Best Comeback Story (PYMNTS Innovator Awards, 2016 and 2017) Technology Innovation Award (Asian Bankers, 2017) Money Transfer Awards (Mobex Africa Innovation, 2018) Top 100 Places to Work (The Dallas Morning News, 2021) Top Workplaces USA Award (Top Workplaces, 2022) Best Use of Blockchain in FinTech (FinTech Breakthrough Awards, 2023) | Credit Rating of Level 1 (Dun & Bradstreet Corporation, 2010) National Business Awards Finalist (National Business Awards, 2016) Most Positive Client Reviews (Money Transfer Comparison, 2017) Consumer Champion of the Year (Money Age Magazine, 2017) Money Transfer Provider of the Year (Money Age Magazine, 2016, 2017,2018, 2019, 2020, and 2021) Best Rated Money Transfer (Money Transfer Comparison, 2019, 2020, 2021) |
MoneyGram Pros & Cons
MoneyGram Pros
- A vast range of payment methods
- Outstanding customer support
- Impressive rating on Trustpilot
- Diverse options for receiving funds
- Availability of cash pickup
- Extensive global presence, covering over 200 countries and territories
- Robust currency portfolio including 58 different major currencies
- A top-rated mobile application
- Extensive industry experience
- Swift money transfer services
- Loyalty rewards program
MoneyGram Cons
- Less ideal for handling large financial transfers
- Limited maximum transfer amounts
- A possibility of substantial transfer fees
- Above-average exchange rate markups
- Lack of hedging options for businesses
Currencies Direct Pros & Cons
Currencies Direct Pros
- 4.9 out of 5 on Trustpilot based on over 8,000 reviews
- No transfer fees
- Free Amazon gift card for new paying customers
- Multiple payment options
- Amazing customer service
- Favourable exchange rates
- Extensive knowledge base
- Highly convenient
- Range of flexible solutions for everyone
- Global service coverage
- Solid currency coverage
- Local coverage
- Decades of experience
- Fast money transfers
- Exchange rate alerts option
Currencies Direct Cons
- Not focused on small money transfers
- Limited deposit options
- Limited smaller currency coverage
- No option for instant custom quotes
- Lack of cancellation policy
- Not available in some US states
- Mobile app has transfer limits
Top Rated Money Transfer Service
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