MoneyGram review for Kiwis: Fees, limits and is it safe in New Zealand

If you’re looking for ways to send money in and out of New Zealand, MoneyGram might be a name you’ve come across. Servicing people around the world, it’s the go-to choice for millions wanting to send money across borders.

As with any money transfer service, it’s important to understand how MoneyGram works, what it costs, and whether it’s the right choice for your needs. In this review, we’ll break down what you need to know about MoneyGram, and compare it to Wise so you can decide which service gives you the best value.

What is MoneyGram?

If you aren’t familiar with it, MoneyGram is a cross-border platform that allows customers to send and receive money in over 200 countries.¹ They’ve been in operation for more than 80 years, and have served over 150 million customers in the last 5 alone.

Is MoneyGram safe in New Zealand?

MoneyGram is a well-established, reputable company that's generally considered safe for New Zealanders to use.² While it’s not specifically registered in New Zealand, it is licensed as a financial provider in other countries. For example, it’s registered in the United States as a Money Services Business with FinCEN (Registration #31000221116940).

To keep your money safe, MoneyGram has a robust data security system that uses industry accepted encryption and network technologies to protect customers. Accounts are also password protected with personalised login details and anti-fraud detection.

How does MoneyGram work?

Using MoneyGram, people can send and receive over 135 currencies and cryptocurrencies.¹ It supports cash pick-ups at over 440,000 retail locations, as well as online deposits into bank accounts, cards and digital wallets.

Sending money with MoneyGram

MoneyGram allows customers to set up money transfers through their website or mobile app. There are some slight differences between the methods in terms of the steps you need to take to make the transfer.

If you want to send money through the website, here’s what you need to do:³

1. Register or log into the MoneyGram website
2. Input the recipients information
3. Choose the preferred receiving methods
4. Enter how much you want to send
5. Choose the payment method
6. Confirm and send the funds³

If you’d prefer to use the app to setup the transfer, just follow these steps:⁴

1. Download the MoneyGram Money Transfers app off the App Store or Google Play
2. Log into the app or go through the registration process
3. Add the recipients information
4. Enter the amount you want to send
5. Select the payment method
6. Review the transfer details then confirm to send the funds⁴

Receiving money with MoneyGram

To receive money with MoneyGram, you’ll need to provide the sender with your details and let them know how you’d like to receive the money.⁵

• Bank account
• Debit card
• Digital wallets
• Cash pickup⁵

For each method you need to provide the sender with the relevant details, for example your bank account details for a bank transfer, or your card details for a debit card transfer.

Keep in mind, not all receiving methods are supported in all countries.

MoneyGram transfer fees and limits

The fees for sending money with MoneyGram are variable, based on factors like the destination, the amount being sent, and the sending and receiving methods.⁶ To estimate the fees you can use their online calculator or login into your account.

There are limits set by MoneyGram on the number of transfers that can be done daily, weekly, monthly and yearly.⁷ There’s also limits on the sending amount. Both of these limits can fluctuate depending on factors like payment method, origin, destination, receiving method, market trends, local laws and security needs.⁷ If there’s a limit that applies to the transfer you’re setting up, it will be displayed onscreen.

MoneyGram’s exchange rate

Unfortunately MoneyGram doesn’t explain how they determine their exchange rate, or whether it has a margin included. This means you’re best to compare it to what other providers offer, to determine whether MoneyGram represents the best value for you. You can look out for the mid-market rate. If you haven’t heard of it before, the mid-market rate is the mid-point between the buy and sell prices on the foreign currency market. It’s a fair rate, which is what Wise uses for all transactions.

International transfer - MoneyGram vs Wise

To see how MoneyGram stacks up, this is how it compares with Wise for a 1000 NZD transfer to AUD.⁵

*As seen on 14th September 2025

As you can see, despite having similar fees, Wise came out ahead because of the better exchange rate. Since Wise always gives customers the mid-market exchange rate, it would indicate that the MoneyGram rate has a margin applied to it. It’s also a good benchmark to compare the exchange rates of other providers too.

Is MoneyGram good for international money transfers?

MoneyGram is a convenient and trusted option for sending money overseas, especially if you want your recipient to be able to get cash. With hundreds of thousands of partner locations worldwide, it’s one of the few services that allows money to be collected in-person almost anywhere.

That said, whether it’s “good value” depends on your priorities. The fees can add up, and the potential for an exchange rate that includes about a margin can make transfers more expensive than alternatives like Wise, which uses the mid-market rate.

Overall, MoneyGram is a good option if you have fast, cash-based transfers or want the reassurance of a large global brand. If keeping costs low is a concern, especially for bank to bank transfers, you may find Wise to be a better fit.

Save on international transfers with Wise's low fees and mid-market exchange rate

Wise is an easy way to save up to 6x when sending money overseas. You can make extra secure transfers to 140+ countries, which are easy to set up with no physical paperwork and completed usually in seconds.

With low, transparent pricing and the mid-market exchange rate for all your currency conversions for your foreign transfers, you'll usually get the best value for your money. Wise lets you see exactly what you're paying for a transfer, and what the recipient will get, with no hidden fees.

For managing foreign currencies even easier, create a free Wise account, and you'll be able to manage and convert your money in NZD and 40+ other currencies. Plus, you'll get local account details in 8+ currencies, making it easy to receive money from abroad whenever you need. You'll be able to track your transfers all in one place.

When it comes to international transfers, Wise makes things easier and cheaper.

📤 Send money with Wise

FAQs

What is MoneyGram’s contact information?

To reach out to MoneyGram you can check their website for the most up-to-date contact information. They’re also on several social media platforms, including Facebook.

How long do international transfers take with MoneyGram?

The speed of a MoneyGram transfer can vary from a few minutes to a few days. It depends largely on the payment and receiving method that were chosen, with debit card payments being good for faster transfers.⁸