Is Money Gram The Same As Western Union

MoneyGram and Western Union aren't the same.

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MoneyGram and Western Union are the Goliaths of the coin transfer world. They're the 2 largest services available, only Western Spousal relationship, established dorsum in 1851, grabs first identify size-wise, edging MoneyGram into second place. The services offering largely like options and costs, but there are some differences betwixt the two that might affect your choice when it comes to MoneyGram vs. Western Wedlock.

How Big Are They?

Western Wedlock reportedly offers 500,000-plus brick-and-mortar facilities worldwide referred to equally "amanuensis locations." About 44,000 of them are in the U.S. The numbers drop to about 347,000 agent locations for MoneyGram, with 30,000 or so available in the U.Southward. Both services are bachelor in 200 countries, simply Western Union crowds MoneyGram out a bit in these locations.

Fees and Costs

The bigger issue might be how much sending money through either service is going to toll you. The answer depends a great deal on how you want to ship coin. Neither service has a flat fee for all transactions so they tin't be measured confronting each other.

Immediate transfers funded by a debit or credit card and retrieved by the recipient at an agent location tend to cost the most: $100 at Western Wedlock for firsthand arrival, but this drops down to just 99 cents if your recipient can look half-dozen days for the money. Transfers of two and 4 days will run y'all $45 or $21 respectively.

MoneyGram is less transparent about its fees than Western Union, only this service indicates that it will cost you lot just $xx to send upwards to $1,000 to an agent location. There's no mention or hope of how long the transfer will accept, nonetheless. Comparatively, it'due south just $10 to ship from amanuensis location to some other agent location using Western Union.

Sending Coin Out of the Land

Keep in listen that exchange rates are extra if you're sending money out of the state. Exchange rate margins and the processes used to go far at them are murky at best, and they're held close to the vest. They can vary depending on what state you're sending money to. It's said that Western Union is slightly kinder in this regard, nevertheless.

Options for Transferring Coin

Western Spousal relationship offers v transfer options:

• Debit or credit menu to agent location (immediate)

• Amanuensis location to agent location (immediate)

• Bank account to agent location (four days)

• Debit or credit card to a bank business relationship (2 days)

• Bank business relationship to banking company account (vi days)

MoneyGram has a bit of an edge hither because information technology likewise accommodates mobile wallets like Google Pay. Information technology offers viii ways to become money from Point A to Betoken B, including the wallets. And MoneyGram says that its bank account-to-bank business relationship transfers can attain their destinations by the next business organization day. Western Union won't ship money from an agent location to a bank account, just MoneyGram volition.

Both Western Union and MoneyGram besides offer online systems and mobile apps, and then y'all accept circular-the-clock options in this respect.

Restrictions and Limitations

Yous probably shouldn't count on sending more than than $five,000 via Western Marriage, although exceptions be. MoneyGram will accommodate transfers of up to $6,000 if you lot take care of business online, but you lot tin can only do so once every 30 days, at least if yous want to use the online selection. Yous can send more if you lot get to an agent location.

The Bottom Line

Both MoneyGram and Western Wedlock offer user-friendly price estimators on their websites, so it's like shooting fish in a barrel enough to compare the two if the cost of transfers is your chief concern. This tin exist particularly user-friendly given that fees and options can change and be updated at any fourth dimension, and depending on how and where you want to transport money. The prices quoted here today might not however be accurate tomorrow.

MoneyGram and Western Marriage aren't the but games in town, either. You might find that transferring money using your own depository financial institution might be cheaper, and PayPal offers very competitive rates as well. Y'all tin can ship money via PayPal to family and friends for free.

Source: https://www.sapling.com/8065711/differences-between-moneygram-western-union

Posted by: washingtonpernedge1971.blogspot.com

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