Western Union

Western Union was founded in 1851 as a telegraph company, from which its name is derived. In the course of the years, Western Union has become one of the world's largest money transfer companies by offering money transfers both to individuals and business clients.

The money transfer service is available in more than 200 countries/territories around the world with 1,900,000 agent locations. For international transfers, you will need to visit a local Western Union agent location in your country of residence.

MoneyGram

MoneyGram was founded in 1940 in the United States, where it still has its headquarters today and has since become one of the world's largest providers for money transfers. MoneyGram is active in more than 200 countries around the globe with approximately 347,000 agent locations.

A distinction can be drawn between customers who want to send money to banks accounts (B2B) and customers who want to pick up cash at a MoneyGram agent location (B2C).

The sending countries/territories include the following: United States, Canada, Europe, Russia, and Turkey. You can send money from these countries to more than 190 other countries around the world.  In Europe, you can make a transfer to almost every country in Europe with MoneyGram. The service fee for sending money to an international bank account via MoneyGram varies depending on the amount of your transaction but can be as low as €3 or around US$4.

Unlike Western Union, you will also often need to pay a fixed receiving fee when picking up the transferred money at the agent location in India. This increases the overall transfer amount by a few percent, which can make a big difference for transfers of small amounts.

In Europe, you have around 15,000 locations from where you can pick up money with MoneyGram. The service fee for sending money to an Indian bank account via MoneyGram varies depending on the amount of your transaction but can be as low as € 3 or around US$ 4.

Unlike Western Union, you will also often need to pay a fixed receiving fee when picking up the transferred money at the location in India. This increases the overall transfer amount by a few percent, which can make a big difference for transfers of small amounts.

The sending countries/territories include the following: United States, Canada, Europe, Russia, and Turkey. You can send money from these countries to more than 190 other countries around the world. MoneyGram's. This increases the overall transfer amount by a few percent, which can make a big difference for transfers of small amounts.

Conclusion

Money transfer companies offer a fast and easy way to send money from one country to another. The two most popular providers of this service, Western Union and MoneyGram have their own advantages and disadvantages that you should be aware of before choosing which company will best suit your needs. If you want the convenience of picking up cash at an agent location near you or if sending small amounts is important for your business, then we recommend using Money Gram. 

However, if it's more convenient for you to make transfers directly into bank accounts (B2B) in other countries or if transferring larger sums are needed on occasion there may be some benefits with Western Union as well! We hope these comparisons help give you a starting point when deciding which provider is right for you.