TransferGo - Independent review

All you need to know before sending money with TransferGo

One of the fastest ways to send money Good exchange rates Simple and transparent fees

8.40/10 Very good
Learn more

TransferGo review by Monito

TransferGo is an online alternative to banks for making your international money transfers. The company offers low-cost, fast, and secure money transfers across Europe and other global destinations. You can pay for your international transfer with a local bank transfer,,or by using your credit or debit card at no extra charge, and the money will be delivered to the bank account of your choice. They have helped 2100,000 customers send over £100 million, and have excellent reviews on Trustpilot.

TransferGo is a top choice for fast transfers to a bank account. The company can transfer money to 45 countries for a very low flat fee and with transparent exchange rate margins. Standard transfers are guaranteed to arrive by 5:30pm BST the next business day. Faster options are available for most transfers from the UK, with funds being delivered the morning of the next business day (Express service), the same business day (Today service) or within 30 minutes (Now service) for an additional fee of £1 - £4.


PROS
  • Totally transparent fees and exchange rate margins
  • Fast: next business day delivery with faster options available from the UK
  • Excellent reviews on Trustpilot
CONS
  • Can only send to a bank account
  • Not the best solution for sending large amounts
 



Reviews powered by

3,029 customer reviews on TransferGo on Trustpilot


13 hours ago
by Katarzyna Nędzi

5 stars

Its really good

Its really good

13 hours ago
by Inder Jangid

5 stars

It was a smooth transfer !

It was a smooth transfer ! Thanks

13 hours ago
by Nicolae Valean

5 stars

It is OK for me..

It is OK for me... Fast and chip


More reviews

13 hours ago
by Gintarė Jevaitė

5 stars

Good service

Good service

13 hours ago
by Eduard Tataru

5 stars

Very good service

Very good service

13 hours ago
by Ernestas Levcenka

5 stars

Best transfer place!

Really fast, easy, and not expensive place for transfer money! Ačiū

13 hours ago
by Raul Petrea

5 stars

Very simple and cheap

Very simple and cheap

13 hours ago
by Robertas Orantas

5 stars

Easy use and fantastic experience

Easy use and fantastic experience

13 hours ago
by mantas zemaitaitis

5 stars

Ok very nice program

Ok very nice program

13 hours ago
by Tiby Marcu

5 stars

Great services.

Great services.

1 day ago
by Oleksandr Ivanov

5 stars

I have been satisfied and I will …

I have been satisfied and I will recommend this company to my friends.

2 days ago
by Grzegorz Gredka

5 stars

Full professionalism

Full professionalism, I recommend.

2 days ago
by AK

3 stars

to long i wait for money

to long i wait for money

3 days ago
by Alina Firica

5 stars

Great service

Great service, very fast and with the cheapest fee . Great team. Very honest and polite. Thank you. I recommand to anyone. You can trust transfer go.

3 days ago
by Greta Andrejeva

5 stars

very fast sending money

very fast sending money! thanks! from now always TransferGo!

3 days ago
by Mihai

5 stars

Fast and easy.

Fast and easy.

3 days ago
by Jonas

5 stars

Thank you,fast !!!!!!

Thank you,fast !!!!!!

3 days ago
by Julius K.

5 stars

5 from 5

5 from 5, fast,safe,cheap,perfect.

3 days ago
by Kamila Jaworska

5 stars

Great I send my money very quickly

Great I send my money very quickly! You can trust transfergo! no problems I will recommend everyone.

3 days ago
by Gintare

2 stars

I transfer money through Transfergo in …

I transfer money through Transfergo in the past, but it never been so difficult.... It took me three days to upload documents and transfer money...

3 days ago
by Dāvids Bielis

5 stars

Keep up the good work

Keep up the good work, works perfect.

3 days ago
by Tanyusha Sv

5 stars

Excellent translation system

Excellent translation system. Fast and reliable way to send money. The exchange rate is good. Promo code VsFnho

3 days ago
by Rimvydas Chrascevskij

5 stars

Rimvydas

Great, very quickly and professionally

4 days ago
by maksym chelombytko

5 stars

very good servis

very good servis

4 days ago
by Roman Medveckij

5 stars

Excellent service

Excellent service. Good exchange rates and fast transaction. Strongly recommended.

4 days ago
by Corina Chipirog

5 stars

Best ever

Best ever! Thx for your help!!!

4 days ago
by Paul

5 stars

Fast and easy

Always fast and easy. Not the first experience.

4 days ago
by Oleksii Rembach

5 stars

Awesome money transfer

Awesome money transfer. From Poland to Ukraine- BEST! I give 5 stars!!!

5 days ago
by Paula-Elena Chiper

5 stars

Trustful

Trustful Easy Speed in transfer Congratulations I will recommend it to my friends

5 days ago
by Ganna Mostnytska

5 stars

Excellent customer service!

Excellent customer service!


TransferGo has excellent customer reviews on Trustpilot, with 90% of the over 1900 customers who have given their feedback rating the company 5 stars.

They are even in the Top 5 companies in Trustpilot’s Money Transfer category. Here’s a summary of what TransferGo customers have to say.

Positive
  • The speed of the transfer is what is loved most
  • Cost is an important strong point as well
  • Customers feel very safe using TransferGo and describe them as trustworthy
Negative
  • Some customers were annoyed by having to go through TransferGo’s verification process (which they are required to carry out by law).
  • On very rare occasions, the transfer took more than one business day to arrive. However, this was due to issues related to security checks and cut-off times with the sending or receiving banks.


Can I trust TransferGo ?

TransferGo is a licensed Authorised Payment Institution, which means they are regulated by the FCA (Financial Conduct Authority) and HMRC (Her Majesty's Revenue and Customs) in the United Kingdom. They offer institutional grade security for their service, including 256-bit SSL encryption with a 2048-bit signature.

As per FCA regulations, clients’ funds are held in segregated accounts, and are therefore kept completely separate from TransferGo’s own business accounts. This means that your money is safe should the company have any financial difficulties.

TransferGo employs 60 people across its UK and Lithuania offices. Employees give the company a 5 star rating on the employer review site Glassdoor, and describe TransferGo’s team as “ambitious, hard working and talented” that they are “very proud to be a part of”. The company is headquartered in Europe’s largest technology accelerator Level39 in Canary Wharf, London.

TransferGo has raised close to $8M dollars from various renowned investors and industry veterans, which has helped the startup sustain its 20% monthly growth rate. It holds the record for the largest investment in a financial services startup in Lithuania so far.


Authorised by the UK Financial Conduct Authority (FCA)
Firm Reference : 600886

 







How TransferGo works


  1. Create a free TransferGo account in only a few moments
  2. Set up a transfer by specifying how much you want to send and your recipient’s details
  3. Make a local bank transfer to TransferGo's account or pay instantly with no extra charge by using your credit or debit card
  4. TransferGo will transfer your money to your recipient from a local bank account in the recipient's country

 


 

TransferGo exchange rates and fees

Transfer fees: TransferGo charges a flat fee of 0.99 EUR / 0.99 GBP / 10 SEK / 20 DKK / 20 NOK / 500 HUF / 9 PLN / 9 RON, depending on which currency you’re sending from.

Exchange rates: TransferGo will convert your money using the prevailing mid-market interbank rates, minus a margin of 0.4% to 2.2%. The exchange rate is locked in advance, so that you know exactly how much money will arrive.

Other fees: Since TransferGo uses local accounts to collect and disburse funds, there should be no fees charged by the sending or receiving banks, and no intermediary bank fees. Furthermore, there are no additional fees incurred to pay instantly by credit or debit card.



 

Which documents will TransferGo require to verify my identity?

To comply with anti-money laundering regulations, TransferGo must verify your identity for your second transfer or if your first transfer exceeds £700. You may be required to provide a copy of an ID (if your first transfer exceeds £700), a proof of your address (if the amount you transferred exceeds £2,000) and you will need to explain the source of funds when a transfer exceeds £5,000 or when you reach a total of £10,500 transferred through multiple transactions with TransferGo.


Identification Documents

It can be a Passport, National ID card with photo, a driving licence (UK, EU or International).

Proof of address

In order to verify your address, Transfergo will need a copy of a document from a reliable institution showing your name and your address. This document can be an Identification document containing your Address, a Financial statements (Bank, Credit Card or Building Society), Letters from Government Bodies (Home Office, Treasury, Revenue & Customs), or a utility bills (Gas, Electricity, Landline Telephone, Water, Council tax, Uk mortgage statement).

Proof of funds

A proof of fund can be Pay slips (with the bank statement showing the deposits), Loan agreements, Sales contract or a Bank/savings statement.


Additional services

Do you own a business? TransferGo also cater to business customers, and can help you to pay international suppliers and freelancers, transfer money to a foreign subsidiary, or pay salaries abroad. Transfer fees are the same as for retail customers, however exchange rate margins are lower and decrease the more you send.

 


The story behind TransferGo

TransferGo was founded in 2012 when four Lithuanian migrants in the UK got fed up with the frustration and cost of making international payments to suppliers with their bank in a previous business. Their goal? To disrupt the international money transfer industry by relying on a superior consumer experience, and making sending money home as convenient as possible. The company now employs 35 people, has raised over $2.7M dollars, and is headquartered in London’s prestigious financial district Canary Wharf.

 


Blog posts

Interview with Daumantas Dvilinskas, co-founder and CEO of TransferGo

In this article, Daumantas explain how TransferGo works with banks rather than against them, giving TransferGo an advantage over competitors and allowing them to offer fast and cheap money transfers. 



How to ensure your security when you send money abroad

Discover TransferGo's tips and approach to stay safe when you choose an international money transfer operator. 



 

In this article, TransferGo tells us more about foreign exchange and how they handle FX rates for their customers.



 

Step by step guide on how to send money with TransferGo


 

TransferGo's Offices

 


United Kingdom

Level 42
One Canada Square
Canary Wharf
London
E14 5AB


 

From our blog

Our independent review of TransferGo

We just published our in-depth  independent review of TransferGo. You can read it in full on our website, or just go through the highlights below.


Interview with TransferGo’s Head of Brand and Communication

Exclusive interview of TransferGo’s Head of Brand and Communication, Guste Sadaunykaite. She tells us about TransferGo’s strategy and their new feature TransferGo Now. This article is part of the Spotlight series brought to you by TawiPay, the comparison site for international money transfers. The Spotlight series aims at helping people who send money abroad get all […]


How to Ensure Your Security When You Send Money Abroad – TransferGo’s Approach

This article is part of the Spotlight series brought to you by TawiPay, the comparison site for international money transfers. The Spotlight series aims at helping people who send money abroad get all the information they need on key money transfer companies, and follow the latest trends of the money transfer industry. This month, we […]



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Key facts about TransferGo

Service information

Time to open an account A few minutes
Pay-in options Credit card
Debit card
Bank Account
Pay-out options Bank account
Minimum amount -
Maximum amount -
Available languages
English
Deutsch
Polski
Română
Required documents -

Company information

Type of service provider Online money transfer operators
Active since 2012
Headquarter London, United Kingdom
Regulated by FCA/HMRC

Contact information

Contact support -
Service hour -
Twitter @TransferGo
Facebook TransferGo
Youtube TransferGo


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