Money Gram Vs Western Union – What’s the Difference?

Money Gram Vs Western Union – What’s the Difference?: When it comes to sending money to any part of the world, only two transfer routes top the list: MoneyGram and Western Union. However, despite sharing similarities like instant transfers, mobile applications, and online transfers, the two transfer routes are different in a number of ways. The differences are what make them unique from each other. They are also what make it easy for you to choose between the two.

Money Gram Vs Western Union – What’s the Difference?

At the moment, Western Union enjoys more than 500,000 agent locations globally while MoneyGram comes second with about 350,000 stores. So, you are likely to see more Western Union agents than MoneyGram agents.

Having said that, let’s look at their key differences as per these basics:

1. Sending Restrictions

MoneyGram only allows you to send money from the United States to any other part of the world. This is where Western Union beats them. With Western Union, you are able to send money from any part of the world to any destination. So, it doesn’t matter if you are in the US or somewhere else as there are no restrictions.

2. Transfer Routes

Both MoneyGram and Western Union allow you to send money to any of their stores around the world using the online route or by phone. If you pay in cash or through a card (debit or credit), the money will be available for withdrawal on the same day.

Nevertheless, MoneyGram gives you the additional advantage of making the transfer using your individual bank account via phone or online and the money is available after 3 business days.

With Western Union, you can use your bank but you have to do it online as phone transfers are not allowed. Instead of using the bank account number, you’ll use the pay bill number. The money will also be available after 3 business days.

3. Delivery Options

Both transfer routes have similar delivery options like in-person picking, phone account deposit, and bank deposit. However, it’s only MoneyGram that allows you to send money to a recipient’s PayPal account.

4. Transfer Charges

There’s no significant difference in the transfer charges between the two options. For example, sending money online within the US for immediate availability using Western Union will cost you $11.99. For in-person picking, the fee is $11.50.

As for MoneyGram, you pay $12 regardless of whether it’s online transfer or to an agent store. In case the money is to be available after 3 days, you’ll pay $8 for either route. However, the fee may rise to $10 if you send the money to a Western Union agent and is available after 3 days.

5. Minimum Transfer

With Western Union, there is no limit for the amount of money that you transfer to a given person at a given time. MoneyGram, on the other hand, has a limit of $1 and thus you are not allowed to send anything lower than this.

6. Coupons

Both routes give you access to different coupons depending on the membership plan that you join. For example, you can get free 2019 Money Gram promo codes, also you are able to get reward points on Western Union if you are on My WU Plan. Western Union also has refer-a-friend coupons for its customers.

7. Sending to Inmates

Both options allow you to send money to an inmate at a branch office. However, MoneyGram gives you the added advantage of sending it online while Western Union allows you to do it via the phone.

Clearly, sending money through either MoneyGram or Western Union depends on a lot of factors as seen above. You need to put the factors into perspective to identify the route that is best for you and for the recipient of the money.

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