Editorial verdict
MoneyGram is a dependable choice for senders whose recipients need cash at a counter or who appreciate established international brand reliability.
TransferGauge Score breakdown
A deterministic score across seven weighted dimensions, calculated on a $1,000 USD benchmark. How we score
Very good overall
Strengths & limitations
Key strengths
- Extensive physical agent distribution across post offices and banks in India
- UPI transfers online, typically settling within 15 to 30 minutes
- Multiple funding options including debit cards, credit cards, and bank debit
- Long established brand with trusted international presence
Potential limitations
- Retail cash exchange rate margins are often between 1.5% and 2.5%
- Card funding incurs transaction charges
- Cash pickup limits apply under RBI MTSS regulations (max ₹50,000/transaction)
Fees & exchange rates
Digital transfers to Indian bank accounts or UPI carry low upfront fees ($0 to $1.99 on bank debit), with revenue primarily generated through an exchange rate margin of 1.2% to 2.2%.
| You send | Upfront fee | FX margin | Est. total cost | Recipient gets |
|---|---|---|---|---|
| $500 USD | Free ($0) | +1.55% | $7.75 | ₹46,873Scaled estimate |
| $1,000 USD | Free ($0) | +1.55% | $15.50 | ₹93,745 |
| $2,000 USD | Free ($0) | +1.55% | $31.00 | ₹187,490Scaled estimate |
| $5,000 USD | Free ($0) | +1.55% | $77.50 | ₹468,725Scaled estimate |
| $10,000 USD | Free ($0) | +1.55% | $155.00 | ₹937,451Scaled estimate |
Speed & payout methods
UPI and debit card transfers typically arrive in 10 to 15 minutes. Bank account ACH transfers take 2 to 4 business days.
Safety, safeguarding & regulation
MoneyGram is licensed as a money transmitter in all 50 US states, regulated by the FCA in the UK, and operates under RBI-authorized Money Transfer Service Scheme (MTSS) agreements in India.
Audit & testing notice: TransferGauge conducts desk-based audits of publicly disclosed fee schedules, regulatory filings, and representative quote benchmarks. We have not independently executed real-money test transactions with this provider. All comparisons are indicative. Always verify final quotes directly with the provider before sending money.
Compare MoneyGram with alternatives
Head-to-head comparisons with providers that serve the same routes.