Running a thorough TransferGo vs. TransferWise comparison is crucial if you wish to determine which of the two companies might serve your needs better. After all, different requirements come into play and both companies do not meet the needs of everyone equally well. So, which company might work better for you?
Trustpilot is an online platform where real users review prominent businesses. On this website, the TransferWise vs. TransferGo comparison stands almost head-to-head. While TransferWise averages at 9.3 out of 10, TransferGo gets an average score of 9.6 out of 10. This little difference requires that you delve a little deeper.
Opting to work with TransferWise or TransferGo requires that you pay attention to different factors such as:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the TransferGo vs. TransferWise comparison requires careful attention because both companies follow different fee structures.
- TransferWise charges a small percentage of the amount you transfer as fees.
- Factors that affect the fee you need to pay include the currencies involved, the payment method, and the transfer amount.
- Refer to the TransferWise fee breakdown table to find out how much your transfer might cost.
- The TransferWise Borderless account does not charge fees for adding funds or receiving payments.
- You will need to pay fees when converting currencies and making withdrawals to your local bank account.
- A TransferGo transfer might attract a fixed fee as well as a currency conversion fee of 0% to 2.2%, which may vary depending on where you live and the transfer amount.
- Depending on the destination country, you get to choose from standard, next day, and fastest delivery options
- Next day transfers from the UK attract a fixed fee of £0.99 plus a currency conversion fee.
- Fees for the Fastest Delivery option depend on the transferred amount.
- You pay no fixed fees if you choose the standard option.
- You can find more details about the company’s pricing system online.
Ease of Use
Signing up as a new customer takes little time no matter whether you choose TransferGo or TransferWise. However, both activate your account only after verifying your credentials.
- Website access comes in English, French, Spanish, German, Italian, Portuguese, Hungarian, and Japanese.
- Different payment methods, depending on where you live, include debit and credit cards, bank account transfers, and SOFORT.
- The Borderless Account comes with free receiving accounts in GBP, EUR, USD, PLN, AUD, and NZD.
- The Borderless Account gives residents of various countries easy access to their money through a TransferWise Mastercard.
- The Borderless account gives you easy means to set up direct debits in GBP and EUR.
- You may use the TransferGo website in English, Russian, Polish, Lithuanian, Romanian, Latvian, Ukrainian, German, or Turkish.
- You may pay for your transfer using a bank account transfer, a debit card, or a credit card.
- TransferGo accepts payments via Visa and Mastercard debit and credit cards in GBP, EUR, PLN, NOK, SEK, and DKK.
Regular Overseas Payments
Both companies falter in this section of the TransferGo vs. TransferWise comparison because neither offers this service yet. If you wish to set up scheduled transfers, consider turning to other reliable alternative such as Currencies Direct, FC Exchange, WorldFirst, OFX, or TorFX.
- When OFX and TransferWise go head to head.. who wins?
- Read about TransferWise features and their pro’s and con’s.