MoneyGram Money Transfer Review

Rating based on expert reviews by FXcompared
Daniel Webber
Founder & CEO
Daniel is Founder and CEO and has 20 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely quoted as an expert within the money transfer industry including by The Economist, The Wall Street Journal, Reuters, CNBC and Bloomberg. Daniel is passionate about helping consumers and businesses find the best and most efficient ways to transfer money internationally.
About MoneyGram
Founded in 1940 in Texas as a money transfer provider, MoneyGram expanded significantly during the 1980s and 1990s. By that time, remittances had become an urgent and serious problem for the global economy, and there were very few competitors in this area except Western Union. Not surprisingly, the MoneyGram brand has grown significantly in response to this growing demand. Of course, these were the days before the internet, so the company had to be present in several places in order to process the money of its customers. As a result of this huge expansion and subsequent growth, the company, along with Western Union, may have the widest global reach among all international money transfer companies.
As expected, the company has experienced several significant recessions in its long history – perhaps the worst of all was the crisis of the subprime credit market of 2008, which led to its shares almost being forgotten. However, the company managed to confidently leave the depths, and in January 2018, it was announced that it would integrate the Ripple cryptocurrency (the most payment-oriented digital currency of all) into its payment system on an experimental basis.
MoneyGram is one of the largest payment transfer providers in the world, second only to Western Union. It will be difficult to find a nation that does not serve MoneyGram, which subsequently illustrates its global contribution.
