MoneyGram Money Transfer Review| North Loop Official Blog
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29 Apr 2020

MoneyGram Money Transfer Review

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MoneyGram Review

If you are trying to find a cheap way to send money to India, you may be thinking about using MoneyGram. But before you send money abroad via MoneyGram, it would be good to compare its rates with North Loop and see how much money you could save. Today we’ll provide you with a guide to use MoneyGram, and an overview of its fees and benefits and downsides. One thing to note is that MoneyGram has extremely poor reviews from most customers on multiple websites.

About MoneyGram

MoneyGram was founded in 1940 and is the second largest money transfer service provider in the world, servicing over 200 countries. You can send money both in-person and online through MoneyGram.

Receive money internationally with MoneyGram

If you’re in India and receiving money via MoneyGram, you can receive money in two ways:
  1. Pick up cash at an agent location
  2. Directly into your bank account

MoneyGram Exchange Rate

There are no charges or fees for receiving money through MoneyGram.
Here is an overview of the MoneyGram Indian rupee exchange rate, and how much you would receive if you sent $1,000.
MoneyGramNorth Loop
Upfront Fee$2.99$0.00
Exchange Rate
(USD to INR)
75.3975.68
When sending $1,000
recipient will receive
75,24675,680

Send money abroad with MoneyGram

You can send money using the MoneyGram website from your computer, or you can head down to the MoneyGram agent location near you. If you’re trying to send money abroad from India, you can’t use MoneyGram (you may want to check out North Loop which lets you send fee-free international remittances from India.)

Sign-up process to send money with MoneyGram

If you want to use cash to send money abroad, you will have to visit a MoneyGram agent. You will need to take your US ID, and all of the recipient's information (including bank account information if you are sending to their bank account). Since MoneyGram charges fees, remember to have enough cash for those fees as well.

Many MoneyGram agents may ask you to fill out a form, which will be used alongside the details and your cash to process your transaction. You’re then given a reference number - send this to the recipient if they are doing a cash pickup.

How to send money using Moneygram online

  1. Go to moneygram.com Click on moneygram login if you already have an account.
  2. Select India as the country you’re sending money to. You will then be able to pick how the money is delivered (cash at a location or bank deposit) and how you will be paying (bank transfer, debit/credit card or cash pickup).
  3. Enter the amount, and see the estimated fees.
  4. Moneygram will tell you the exchange rate, delivery timeline and fees
  5. Create an account, or login on moneygram login. Enter the beneficiary details.
  6. Confirm and send


Remember! Credit card companies may charge you a cash advance fee if you’re using the credit card to pay for your remittance.

MoneyGram transfer limit

MoneyGram has different transfer limits for sending money - these depend on where you’re sending the money to , and which country you’re sending it from. The money transfer limit to India is $7,500 from the US. You can check their limits on their website.

If you’re sending money for cash pickup, Indian residents can only pick up ₹50,000 INR. Any amount above that would require a bank deposit.

MoneyGram Fees

MoneyGram gives a weaker exchange rate, and this is how it makes money. The Moneygram Indian rupee exchange rate adds up - it may seem like a few dollars, but it’ll end up being hundreds of dollars over the year.
MoneyGram also charges a fee for cash pickup at a MoneyGram agent, or if you pay with a debit or credit card. This feels unfair since these are also the faster options.
That’s why it makes sense to use North Loop , as you will get the most transparent exchange rates and a variety of other features.

MoneyGram Transfer Time

MoneyGram is faster than many other money transfer providers. You can have money delivered to India within 24 hours if you choose cash pickup. MoneyGram has different delivery schedules for receiving money. If you send money via bank transfer, it will take 4-5 business days for the funds to reach India. If you choose cash pickup or debit card, the transfer will be completed within 24 hours. For a cash pickup, you can expect the transfer to be ready within 24 hours after the transfer was sent successfully.

MoneyGram App

MoneyGram has an app for both Android and iOS phones that lets you do the same functions as the website.

MoneyGram customer support

MoneyGram is considered by most customers to be a terrible experience, and it has the lowest scores amongst all money transfer providers. On Trust Pilot, it has a shocking score of 1.2 out of 5. You may want to use a more trustworthy and highly-rates provider such as North Loop .
MoneyGram customer care is available via a FAQ page on the website, or you can have live chat on their website. You can also submit a ticket on their website, and wait for customer care to get back to you.
There is no MoneyGram US customer care phone number - you cannot contact them by phone.

Save Money - Use North Loop

Have you considered using North Loop to send money abroad? With North Loop you get lightning fast delivery times, transparent FX pricing, and a FDIC insured bank account as well. Sign up in 2 minutes North Loop.

Save money with

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.