![]() ![]() It seems to be a more prominent feature with companies who have a remittance focus as the only other companies on the market showing this type of feature at the moment are Wise (Transferwise), Currencyfair, Azimo, Western Union and World Remit (from the ones we have reviewed to this point). It makes figuring out the exact costs easier than with other companies. We can say Moneygram shows good ethics by presenting a cost calculator on their website. Even though the TrustPilot score has drastically improved, there is still a much greater proportion of complaints than providers like CurrencyFair and Wise. That being said, we shouldn’t look past the many negative reviews either. Moneygram’s TrustPilot ratings have really improved over the years and it appears for many the service is working just fine, providing an efficient and reliable service. Additionally, some clients may have unrealistic expectations. Perpetrators are using Moneygram’s service for money transfer scams but there is little the company can do in that regard. Some of the angst directed at Moneygram may be unjust. ![]() The situation is similar to Western Union, the only company which is really comparable to Moneygram but we have to say Moneygram feedback just about edges them for positive customer experiences. The negative feedback covered many aspects, including:īased on the research we have conducted, there is a real mixed bag of reviews telling us very different things about the company. There’s nothing specifically wrong with that of course, these are still real customers who have had a real experience with Moneygram but it’s possible it does not incorporate the feedback of a wider sample of Moneygram users.ġ3% of the TrustPilot UK ratings are negative and 17% of the TrustPilot US are, virtually all of the reviews on Consumer Affairs and Yelp are complaints. So it’s possible that Moneygram has only notified loyal customers to leave a review. We can see from a notification next to the review on TrustPilot that the users who have left positive ratings have been invited by Moneygram to leave a review. In total, it’s strange to see such different experiences across three different review platforms. The lowest rating that can be achieved on the platform. Yelp – 1 Star out of 5 Stars available.It looks like Moneygram has run an initiative to boost its score, as the positive reviews have been invited whereas the negative ones haven’t. TrustPilot – 4.3 Stars out of 5 Stars available on both the UK and US pages.Consumer Affairs – 1 Star out of 5 Stars available.We focused on the largest and most recognisable user review platforms, and discovered client reviews as follows: 41 on Consumer Affairs (who only show the most recent, this used to be in the hundreds), 3,439 on TrustPilot UK, 10,503 on TrustPilot US, 146 on Yelp. There are thousands of Moneygram reviews across the web, and there are dozens of comments left by our visitors. It has a fascinating history filled with glorious achievements alongside crashes and falls. Moneygram is one of the biggest, strongest, and most resilient companies in the money transfer space, for good or worse. Ripple is the most payment-oriented cryptocurrency.Īlmost any financial regulator across the globe, including the American SEC and the British FCA. In 2018, Moneygram announced it will be integrating Ripple into its payment system, which may be the way forward for this company. Ant Financial ended up buying indirect competitor WorldFirst. Ant Financial is a Chinese company owned by the Alibaba group (formerly named AliPay), and being that, considering the US-Chinese tensions in 2017, the deal was blocked by the U.S government. ![]() The 2008 subprime crisis had hit it with a full impact crash to take its stock to oblivion, and a $100m fine for fraud a few years later didn’t help.ĭuring 2017, Ant Financial made an offer to buy Moneygram for a sum of $1.2bn. The company has suffered some downturns during its long history. Today, Moneygram has one of the most extensive global reach in the industry (together with WU), boasting 347,000 agents across the globe. Back in those pre-internet days, you had to have a local presence to handle anyone’s money, and Moneygram has managed to pull off that task successfully. As its brand name expanded in the 80’s and 90’s, the problem of remittances became a real concern for the global economy, and there were very few competitors in the field (the biggest competitor that comes to mind is Western Union). The US-based business was founded in 1940 to deliver money orders. Moneygram is a money transfer giant and has played a substantial role in the history of money transfers. ![]()
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