MoneyGram vs Key Currency: Fees & Reviews Compared

Both MoneyGram and Key Currency are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	MoneyGram	Key Currency
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%	0.2% – 1%
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.	No limit

Reviews

	MoneyGram	Key Currency
Trustpilot Rating	4.5	4.9
Number of Trustpilot Reviews	34,800	1,600
iOS App Rating	4.9	N/A
Number of iOS App Reviews	422,000	N/A
Android App Rating	4.6	N/A
Number of Android App Reviews	88,000	N/A

Features

	MoneyGram	Key Currency
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	Yes	No
Available Countries	200	N/A
Number of Currencies	60	37
Payment Methods	Bank account Debit card Credit card Cash	Bank account
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 Phone
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
Transfer Speed	Within minutes (cash transfers) 1-3 days (bank and debit card transfers)	1-2 days
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	No
Business Features	N/A	Spot contracts Forwards contracts Limit orders Market analysis Recurring transfers Rate alerts
Debit Card	None	None
Cancellation Policy	Cancellations are possible as long as the money hasn’t been claimed by the recipient.	Customers must get in touch with the company to cancel transfers once they’ve been confirmed. Refunds are subject to Key Currency’s approval and granted on a case-by-case basis.
Suitability	Small money transfers	Large money transfers

Company Comparison

	MoneyGram	Key Currency
Year Founded	1940	2016
Headquarters	Dallas, TX, US	Truro, Cornwall, the 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)	The Netherlands, Portugal, and Spain
Annual Trading Volume	N/A	£2 billion
Number of Employees	2500	42
Number of Clients	150 million	50000
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 FCA in the UK Bank of Spain in Spain
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)	Best Currency Exchange Service (ADVFN – each year from 2016 to 2023) Best Currency Provider (Online Personal Wealth Awards – 2016 and 2017)

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

Key Currency Pros & Cons

Key Currency Pros

• Great customer service
• Impressive Trustpilot score
• Zero transfer fees
• Attractive exchange rates
• Personalized support from dedicated account managers
• No limits on transfer amounts
• Flexible currency hedging options
• Wide-reaching service coverage
• Extensive industry experience
• Quick money transfers

Key Currency Cons

• Not optimal for smaller transfers
• Limited funding methods
• Lack of support for less-common currencies
• No option for instant personalized quotes
• Services not accessible for residents in the US
• Absence of a mobile app

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