MoneyGram vs Wise
MoneyGram
moneygram.com
Wise
wise.comSide by side
| Figure | MoneyGram | Wise |
|---|---|---|
| Price from | — | Free |
| Free plan | — | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 0 | 1 |
| Spec score · Money Transfer Apps | 7.9 (#49) | 8.9 (#5) |
| Spec score · Peer-to-Peer Payment Apps | 7.7 (#17) | 8.1 (#13) |
| Company history | MoneyGram says it was founded as Travelers Express Company, Inc. in Minneapolis in 1940 and relocated its global headquarters to Dallas, Texas, in 2010. | Wise says it launched in 2011 with a vision of making international money transfers cheap, fair, and simple. |
| Exchange-rate model | markup | mid_market |
| Upfront fee display | Yes | Yes |
| Founded | 1940 | 2011 |
| Free plan | No | Yes |
| Headquarters | Dallas, Texas, United States | London, United Kingdom |
| Mobile platforms | both | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Payment methods | The app supports Apple Pay on iOS and Visa or Mastercard credit and debit cards; other options may vary by country. | The app says users can fund transfers with Apple Pay, Google Pay, a debit or credit card, or a bank transfer. |
| Purpose | The app lets users send money from their phone to 200+ countries and territories and track transfers in real time. | The Wise app lets people send money, receive payments from abroad, check exchange rates, pay bills, and send money to loved ones. |
| Recipient methods | MoneyGram’s online transfer page lists bank account, mobile wallet, debit card, or cash pickup as ways recipients can receive money. | bank |
| Scheduled transfers | Yes | Yes |
| Security | MoneyGram says it uses encryption, identity verification, and transaction monitoring to help protect transfers and customer information. | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. |
| Support | MoneyGram’s help page says Customer Care agents are available 24/7 by email. | Wise says its customer support is available by email, live chat, and phone, 24/7 in English and in 14 other languages. |
| Transfer speed | MoneyGram says transfers can be sent in minutes, though availability depends on transaction details and operating hours. | On many popular routes, transfers can arrive within one day, the same day, or instantly. |
Plans
In their own words
Wise
Wise is a money app for sending money, receiving payments from abroad, checking exchange rates, paying bills, and sending money to loved ones. It sends to bank accounts in over 140 countries; delivery on many popular routes is within a day, the same day, or instant. Wise says it uses the mid-market exchange rate and displays fees before payment. Signing up is free, with no subscription; sending and conversion fees vary by currency and start from 0.33%. Sending to another Wise account has no sending fee, though conversion fees may still apply. Transfers can be funded with Apple Pay, Google Pay, cards, or bank transfer. Users can track and schedule transfers, repeat previous transfers, and receive live exchange-rate notifications. Wise says it safeguards customer money separately from its own and uses two-factor authentication to protect accounts and transactions. Photo ID may be required for some currencies or large transfers. The app is available on Android, iOS, and web.