Time

• When time is of the essence, MoneyGram has the advantage over a money order. MoneyGram is part of a network of wire transfer systems. You can visit one of over 200,000 worldwide locations and electronically wire a sum of money, which takes about 10 minutes. On the other hand, money orders are usually sent through the postal system and can therefore take a lot longer to reach the recipient.
  
  

Cost

• In terms of cost, money orders have the advantage over MoneyGrams. The cost of a money orders is minimal, around 50 cents for those under $200; a MoneyGram costs significantly more. Whereas the only cost of sending a money order is the nominal fee plus an envelope and a stamp, a MoneyGram is more pricey. For example, it costs $111.50 to send $100 through MoneyGram.
  
  

Security

• Both money orders and MoneyGram offer some measure of security. If a money order does not reach its destination, you can fill out a loss form. After the issuing company verifies that the money order was lost, a refund is given. MoneyGram offers the same policy, although with electronic transfers, nonreceipt is verified much more quickly; a mailed money order takes time to reach its destination, and its payee might not immediately process it. A MoneyGram requires photo identification and specific transfer information before the funds are released.
  
  

Locations

• While MoneyGrams can be sent only from various MoneyGrams locations, money orders can be purchased at local post offices, major grocery stores and large department stores such as Walmart and Target. MoneyGram locations also offer money orders for purchase that cost less than a MoneyGram wire transfer and offer advanced protective features that many other money order issuers do not.