Will You Benefit By Using TransferGo?
While TransferGo provides reliable and cost-effective overseas money transfer services, whether or not you may sign up as a customer depends on where you live. This is because TransferGo accepts customers only from European countries as of now. This company lets its customers transfer funds to countries outside of Europe. You may use its services as an individual or a business.
Going by most TransferGo reviews found online, you may benefit by using the services of this company:
- To carry out fee-free personal transfers
- To carry out same day transfers
- To make batch payments as a business
- If you need website access or customer support in a European language
At a Glance – TransferGo Money Transfer Services
Headquartered in the UK, TransferGo also has international offices in Germany and Lithuania. This company lets its customers use its P2P network to transfer funds directly into overseas bank accounts. It operates a multilingual website and provides customer support in various languages. Depending on how quickly you want the recipient to receive the transferred money, you may choose from different transfer speeds.
TransferGo currency exchange fees depend on the mode of payment, the currencies involved, and the desired transfer speed. TransferGo currency exchange rates are consistently better than those provided by most leading national and local banks that offer traditional bank transfer services. Continue reading this TransferGo review to determine if using the services of this company will work well for you.
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
Details About TransferGo
While several TransferGo money transfer reviews offer little in the form of details, this one delves deep and gives you all the information you need to make an informed decision before sending money abroad. Start by identifying it if supports the countries where you and the recipient live.
Supported Currencies and Countries
You may use the services of TransferGo to send money from the following countries, in the corresponding currencies.
It lets you send money to the following countries, in the corresponding currencies.
TransferGo Currency Exchange Fees
TransferGo currency exchange fees depend on multiple factors. These include where you and the recipient live and the desired transfer speed, as the tables below illustrate.
Sending £500 From the UK to Australia
|Transfer Speed||Fixed Fee|
|Next day delivery||GBP 0.99|
Sending £500 From the UK to India
|Transfer Speed||Fixed Fee|
|Standard delivery||GBP 0|
|Next day delivery||GBP 1.99|
|Delivery within 30 minutes||GBP 2.99|
Other than the fixed fee, you also need to pay a currency conversion fee of 0% to 2.2%. Pass through of costs of 0.5% for funding may apply when you make card payments.
TransferGo gives its customers the option to choose from different turnaround times. However, transfer limits apply and fees vary accordingly. In addition, not all options are made available for all supported countries.
|Free||Up to five business days|
|Next day||One business day (available for transfers up to GBP 2,000 / EUR 2,000)|
|Fastest delivery||Within 30 minutes (available for transfers up to GBP 2,000 / EUR 2,000)|
Individuals may use the services of TransferGo to carry out spot transfers. Business clients may use its services to make spot transfers and batch payments. The company does not provide hedging tools such as forward contacts and limit orders. It does not allow scheduling of transfers yet.
- Payment methods. You may pay for your transfer through a bank deposit. TransferGo also accepts payments via debit cards in GBP, EUR, SEK, DKK, NOK, and PLN for payments of up to £2,500.
- Sending limits. The company does not have any maximum sending limits.
- Apps. TransferGo provides apps for iOS and Android. Referral program. The TransferGo referral program gives you and the people you refer the ability to earn cash rewards.
TransferGo Exchange Rates
TransferGo fees vary between 0.6% and 1.5%, while currency exchange rates remain highly competitive, no matter whether you compare them with banks or other overseas money transfer companies. You may use the currency converter on the TransferGo website’s homepage to get an indication of existing exchange rates and fees. The company notifies you of the rate that will apply on your transfer before you make your payment.
Coupons Offered by TransferGo
TransferGo has no ongoing invitation code or promotional offers.
Signing Up to Send Money With TransferGo
It is good to see this money transfer provider focused on user experience when it comes to sending money online. TransferGo lets you simplify the registration process by using your existing Google or Facebook account, meaning it is a far easier transfer process. Since TransferGo is a Her Majesty’s Revenue & Customs (HMRC) regulated financial services provider and a Financial Conduct Authority (FCA), it is required to verify the identity of its customers. All TransferGo customers must verify their identity if the first international payment transfer is over £900, or at the time you wish to carry out your second transfer.
How Do You Set Up a Transfer With TransferGo?
Setting up a transfer with TransferGo is fairly straightforward, no matter whether you use its website or app.
- Start by choosing the currency you wish to pay in and the currency you want the recipient to receive
- Enter the amount you wish to send
- Choose from available transfer speeds
- Select a payment method
- Provide your personal details
- Provide the recipient’s name and bank account details
- Review your transfer and make the payment
Additional Information About TransferGo
- You get website access and customer support when sending money through TransferGo in languages such as English, Russian, German, Polish, Lithuanian, Romanian, Latvian, Ukrainian, and Turkish
- It is regulated by the UK Financial Conduct Authority (FCA) and supervised by HMRC
- It provides institutional grade security
You may find answers to most commonly asked questions in the help section of the TransferGo website. If you do not find the information you need, you may contact a TransferGo representative via email or over the phone. The company provides multilingual phone support.
If you wish to send an email to TransferGo, the email address to use is – https://support.transfergo.com/hc/en-gb.
The corresponding table lists some TransferGo phone numbers.
|English||+44 13 9269 4030|
+49 30 2000 42053
|Polish||+44 14 3830 5041|
+48 58 881 05 00
+49 30 2000 42077
|Lithuanian||+44 11 8310 0891|
+370 5 214 0450
+49 30 5683 8124
|Latvia||+44 13 2980 1033|
+371 6 78 59665
+49 30 5683 8045
|Romanian||+44 11 5824 3082|
+40 31 630 1568
+49 30 5683 8134
+34 868 48 00 51
Turning to Trustpilot, a review-based website, gives you an indication of what customers of this company have to say about its services. TransferGo reviews on this platform are largely positive, with the company getting an average score of 9.6 out of 10.
Whether or not TransferGo is the best money transfer service provider for you depends on your individual requirements. For instance, while the cost of a transfer is typically important, what if a speedy transfer is your top priority? To ensure you make the right decision, you might want to take a look at what some of the top TransferGo competitors have to offer.
TransferGo Review Updates
TransferGo is an overseas money transfer company that is headquartered in the UK. This company provides services for individuals and businesses from across Europe. It offers transparent fees, lets you choose from different transfer speeds, and accepts payments in different ways. Most customers of this company rate its services well.
Launched in 2012, TransferGo is a UK-based overseas money transfer company with global reach. It also has offices in Germany and Lithuania. This company relies on a peer-to-peer (P2P) methodology, owing to which transferred funds don’t actually leave the country, and the money is paid in and out locally.
In 2014, it received a silver innovation prize at Hack Osaka in Japan.
In 2015, TransferGo raised U.S. $2.5 million through a seed round, which was led by Mark Ransford, a former investor at Apax Partners; Clive Kahn, a former CEO of Travelex; and Voria Fattahi, a former investor at Kinnevik.
By 2017, the company achieved a run-rate of one million online transfers per year. It also opened an office in Germany in the same year. TransferGo is registered and regulated by relevant bodies in the UK.
It lets people from across Europe transfer money to more than 50 countries. The company serves individuals and businesses alike. It does not impose any daily transfer limits.