Last offers update: August 4
Fast cash pickups via MoneyGram‑powered app.
Flexible delivery and low transfer fees.
Peer‑to‑peer transfers with low fees.
No fees and excellent rates—ideal for large transfers.
Low‑cost transfers at real mid-market rates.
Fast cash pickups via MoneyGram‑powered app.
A money transfer service allows individuals or businesses to send money from one location to another, locally or across borders. These services have revolutionized how people move money globally, providing alternatives to traditional banking methods that can be slow, expensive, or inaccessible.
Money transfer services operate through various channels:
The time it takes to complete an international money transfer depends on several factors: the provider you choose, the country you're sending to, the payout method, and even the time of day you initiate the transfer. Understanding these variables can help you choose the right service for your timeline needs.
Transfer speeds vary significantly by method:
Yes, when you choose a reputable and regulated provider, money transfers are highly secure. The safety of your transfer depends largely on selecting established services that prioritize security and comply with international financial regulations.
Leading services implement multiple security measures:
The total cost of a transfer includes two main components: transaction fees and the exchange rate margin. Understanding both elements is crucial for calculating the true cost of your transfer, as providers often emphasize one while hiding costs in the other.
Cost components break down as follows:
Some money transfer providers offer mid-market rates (also called interbank rates), which are the real exchange rates used by banks when trading with each other. Others add a margin or markup to these rates, typically ranging from 0.5% to 4% depending on the provider and currency pair. A better exchange rate means your recipient receives more money in their local currency, so the difference can be substantial for larger transfers.
To get the best value, always review the exchange rate being offered and compare it with the real market rate available on financial websites or apps before sending. Consider the total cost including both fees and exchange rate margins, and remember that rates can change between the time you get a quote and when you actually send the money. Some providers offer rate locks or forward contracts for larger transfers to protect against unfavorable rate movements.