Which scores better when comparing TransferGo vs Paypal? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
TransferGo
Overall score:
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52
PayPal
Overall score:
54
54
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
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25
You can sign up as a personal customer with TransferGo from most European countries.
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33
PayPal provides different services for personal customers from a number of countries. However, the services on offer vary from one region to another. PayPal's consumer product is a digital wallet where the customer's ID can be their email address and phone number. PayPal customers can send money to each other's digital wallets quickly and easily. The PayPal digital wallet can be connected to a bank account and debit or credit cards. This allows customers to withdraw available funds to their bank accounts. Connecting their bank cards allows customers to buy goods and services on e-commerce stores where PayPal is accepted as a payment method.
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TransferGo's business services are fairly limited.
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56
PayPal for business provides a range of specialized services for businesses from different countries. Businesses can use PayPal to create and send invoices and receive payments. PayPal's merchant solution allows online sellers to accept PayPal as a payment method. Customers can use the PayPal payment gateway to buy goods or services using their PayPal account or directly with credit or debit cards. PayPal has more solutions for business accepting micro payments which may be quite useful when selling low cost products.
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25
TransferGo fees vary based on the location of the sender and the desired transfer speed.
TransferGo adds a markup of 0% - 3.3% on existing mid-market rates.
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0
PayPal fees vary based on where you live and the services on offer. Below we show sample fees for the USA. For more detailed information on fees for PayPal merchant solution, iCompareFX has created an interactive payment gateway fees comparison tool and more detailed breakdown of merchant variable and fixed fees by region.
| Payment method | Fees |
| PayPal Cash, PayPal Cash Plus or a linked bank account | $0 |
| Credit card, debit card or PayPal Credit | 2.9% of the transfer amount, plus a fixed fee |
| Payment method | Transaction fees | Funding fees |
| PayPal Cash, PayPal Cash Plus or a linked bank account | 5% of the transfer amount (minimum of $0.99 and maximum of $4.99) | $0 |
| Credit card, debit card or PayPal Credit. | 5% of the transfer amount (minimum of $0.99 and maximum of $4.99) | 2.9% of the transfer amount plus a fixed fee |
| Mode of selling | Fees |
| Selling in the US | 2.9% plus $0.30 per transaction |
| Selling internationally | 4.4% plus a fixed fee based on the currency received |
| PayPal Here card reader | 2.7% for card swipes, or 3.5% plus $0.15 for manually entered transactions |
PayPal adds a margin of up to 3% on existing mid-market rates when carrying out currency conversion. Combined with the fees you need to pay, the cost of sending money overseas through PayPal becomes rather prohibitive.
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Payment options:
Multilingual website - You can use the TransferGo website in different European languages.
Transfer speed - Most transfers process in 1 - 2 working days. TransgerGo also provides 30-minute and Same Day transfers in some countries.
Signing up - Sign up using the TransferGo website or app.
Phone transfers - You can not carry out transfers over the phone.
Mobile app - Available for iOS and Android. However, a number of Android users have highlighted functionality-related problems.
Transfer limits - A maximum limit of £2,500 applies on card payments.
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Sign up - Signing up takes little time, and you may do so by using the PayPal website or app.
Payment options - You can fund your account and transfers in different ways such as bank transfers, debit cards and credit cards.
PayPal app - The PayPal app is available for iOS and Android.
Phone transfers - PayPal customers can not send money over the phone.
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75
Supported destination countries for bank transfers - Send money to local bank accounts in more than 65 countries.
Supported destination countries for card transfers - Send money to Mastercard and Visa cards in 25 countries.
30-minute delivery - Use this option to send money to over 35 countries.
Customer support - Get multilingual support over the phone or via email.
Registration countries - TransferGo only accepts customers within Europe.
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Supported countries - PayPal provides its services in more than 200 countries and territories.
Multilingual website - You can use the PayPal website in different languages.
Local phone support - PayPal could do better by providing local phone support in countries with large customer bases.
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TransferGo is a reliable money transfer company.
Regulated - TransferGo is regulated by government bodies in the UK and Lithuania.
Safety of funds - Segregated bank accounts used for holding clients' funds.
Trustpilot - Rates as Excellent.
Transparency in rates - TransferGo exchange rates come with markups, which can be up to 3.3% in some cases. The company does not notify customers of the markups it adds.
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Customer rating - PayPal gets a rating of Bad on Trustpilot. Several PayPal reviews written by customers highlight the company's poor customer service. None of the recent reviews have been answered by PayPal. Regular PayPal complaints are related to business accounts being suspended during disputes with no notice or follow up by PayPal. This has lead to a large number of unanswered complaints on Twitter, TrustPilot and Google reviews.
Exchange rate transparency - The non-transparent exchange rate margin leaves many customers wondering about the true cost of their transfers.
WinnerPaypal has a narrow win over TransferGo. The main reasons are for its business and personal features and its supported countries reach.
