About us

Monito is a comparison website for international money transfer services.

We compare and review more than 350 money transfer operators, to help you find the best option for each of your international transaction.

Exchange rate alerts

Save money by sending at the right time, with the right provider.

All you need to know before sending money with TransferGo

How can you use TransferGo to send money abroad? Is their service reliable? Can you trust TransferGo with your money? How good are their fees and exchange rates?

    Our independent review of TransferGo

    Last updatedNovember 2018
    Written byLaurent Oberholzer

    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.


    What we like about TransferGo

    • Totally transparent fees and exchange rate margins

    • Fast: next business day delivery with faster options available from the UK

    • Excellent reviews on Trustpilot

    What we dislike about TransferGo

    • Can only send to a bank account

    • Not the best solution for sending large amounts

    How does TransferGo works

    Open an account

    Visit TransferGo's website and open a free account

    Enter the details about your recipient

    Tell TransferGo where you need to send money and to whom.

    Set-up your transfer with TransferGo

    Enter how much money you want to send and how you want to pay for your transfer.

    Pay for your transfer

    Fund your transfer by making a local bank transfer or pay by debit or credit card

    Let TransferGo do the rest

    TransferGo will convert your money in the recipient's currency and send it to him through the selected pay-out option.

    Fees & Exchange Rates

    Fees & Exchange Rates 6.6/10


    TransferGo is often the cheapest option

    This indicator is based on the percentage of searches on Monito for which TransferGo is the cheapest provider


    TransferGo fees and exchange rates are often competitive

    This indicator is based on the percentage of comparisons on Monito in which TransferGo offers a competitive pricing (taking into account the pay-in and pay-out options as well as the amount).


    TransferGo offers special promotions for Monito users


    Monito can access real-time pricing information from TransferGo


    The points above are added to calculate the "Fees & Exchange Rates" score of TransferGo, who scores 6.6 points on a maximum of 10 points.

    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.

    Ease of Use

    Ease of Use 9.5/10


    A lot of Monito users going to TransferGo end up making a transfer with them


    TransferGo's homepage is clear and very easy to understand


    It's very easy to open an account with TransferGo


    Setting up your transfer is quick and easy


    It's easy to sign up and make a transfer both on mobile and desktop


    The points above are added to calculate the "Ease of Use" score of TransferGo, who scores 9.5 points on a maximum of 10 points.

    Credibility & Security

    Credibility & Security 8/10


    TransferGo is fully licensed and authorized


    TransferGo has a good number of positive customer reviews


    A very large number of customers already trust TransferGo


    TransferGo employs a very large number of employees


    TransferGo has already transferred between 1-5 billion USD for their customers


    TransferGo has been mentioned in countless recognized media outlets


    TransferGo is part of Monito's network of trusted partners


    TransferGo is a long-established company


    The points above are added to calculate the "Credibility & Security" score of TransferGo, who scores 8 points on a maximum of 10 points.

    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

    Service & Coverage

    Service & Coverage 4.8/10


    TransferGo allows you to send money from an average number of countries


    TransferGo allows you to send money to a limited number of countries


    TransferGo is available in many different languages


    It is possible to pay for your transfer by local bank transfer


    It is possible to pay for your transfer by credit/debit card


    TransferGo doesn't offer additional pay-in options


    It is possible to send the money to your recipient's bank account


    TransferGo doesn't offer a cash pick-up service


    TransferGo can’t send money to a mobile phone (airtime top-up or mobile wallet)


    TransferGo doesn't offer a bill payment service


    TransferGo doesn't offer additional banking features


    TransferGo doesn’t offer a multi-currency debit card


    TransferGo doesn't offer guaranteed exchange rates


    It is not possible to set up repeating transfers / standing orders


    There is no minimum amount (or very low)


    There is a relatively high maximum amount


    The points above are added to calculate the "Service & Coverage" score of TransferGo, who scores 4.8 points on a maximum of 10 points.

    Customer satisfaction

    Customer satisfaction 8.4/10


    TransferGo has a very high percentage of excellent customer reviews


    TransferGo has a very low percentage of negative customer reviews


    TransferGo has a good number of positive customer reviews


    The points above are added to calculate the "Customer satisfaction" score of TransferGo, who scores 8.4 points on a maximum of 10 points.

    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.


    • 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


    • 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.

    Customer support

    Customer support 8/10


    The FAQ and help center of TransferGo are easy to understand


    TransferGo doesn't has any live chat


    TransferGo offers email support (even to noncustomers)


    TransferGo offers phone support (even to noncustomers)


    It's very easy to get in contact with TransferGo


    The FAQ and help center are translated in all languages


    Monito cannot contact TransferGo on behalf of our users


    The points above are added to calculate the "Customer support" score of TransferGo, who scores 8 points on a maximum of 10 points.


    Transparency 7/10


    The exchange rate margin makes up a significant share of the total cost of your transfer


    It's very easy to understand the fees of TransferGo


    TransferGo doesn’t charge a margin on the exchange rate


    A real-time quote can be obtained without registering


    TransferGo applies the same fees and exchange rates to all customers


    The pricing information of TransferGo is made available to Monito


    The points above are added to calculate the "Transparency" score of TransferGo, who scores 7 points on a maximum of 10 points.

    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.

    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.

    • Why you can trust Monito's reviews

      Monito's mission is to help you (and thousands of others each day) find the best providers for your money transfers.

      We do that by providing real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writting in-depth reviews about money transfer providers.

      We have partnerships with many money transfer providers (TransferGo included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.

      We put a lot of efforts to review money transfer providers like TransferGo in details and based on objective and verifiable criteria. A good example of that is the in-depth User Experience Benchmark Study we conducted in August 2018.

    Compare TransferGo to 300+ other providers

    Country from
    United Kingdom
    Country to
    Select a country
    You send

    Questions you may have

    Read our guides on sending money abroad