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

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TransferGo Review: Is it safe? How does it work? What are the rates?

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 updated January 11, 2019
    Written by Laurent Oberholzer

    TransferGo is an online alternative to banks to make international money transfers. Founded in 2012, the company offers low-cost, fast and secure global money transfers. You can pay for your international transfer with a local bank transfer. Payments can also be made with a debit or credit card if the card is in one the following currencies: GBP, EUR, PLN, NOK, SEK and DKK. The money will be delivered to the bank account of your choice. They are also noteworthy for their flexible transfer options. Standard transfers generally arrive within one business day, depending on the country you are sending money from and to. You can also pay more for fast delivery (as fast as 30 minutes) or pay zero fees for slower (up to three business days) transfers. Options and processing times vary by country.

    TransferGo is a top choice with excellent reviews on Trustpilot. Customers can make fast transfers and send money from a bank account or debit card to the recipient's bank account from over 30 countries to over 45 countries with low flat fees and transparent exchange rates.


    What we like about TransferGo

    • Totally transparent fees and exchange rate margins

    • Flexible transfers. Options vary by country, but their fastest delivery option can be as short as 30 minutes

    • Excellent reviews on Trustpilot

    What we dislike about TransferGo

    • You can only send money to a bank account

    • Not the best solution for sending large amounts

    • Not available to US customers

    How TransferGo works

    Create an account

    Sign up for TransferGo in just a few moments. You can do this by connecting with your email address or via your Facebook or Google account.

    Go through the verification process*

    *This is generally required if your first transfer exceeds £900 (or the equivalent in another currency). Requirements vary according to your country, but always includes a copy of your ID and a selfie. Additional verification documents may also be required.

    Set up your transfer

    Enter the country you are sending money from and the amount your are sending or the amount you'd like the recipient to receive.
    You can also choose the transfer speed. Standard service is generally delivered in one business day, Express services can be delivered in as little as 30 minutes and Free delivery takes up to three business days. Delivery times vary by country, but exact transfer times are clearly displayed after you've entered the countries.

    Send the money

    Send your money with your preferred payment method. Bank transfers are available for all currencies. Debit or credit cards in GBP, EUR, PLN, NOK, SEK and DKK can also be used.

    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 %PSP% 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 %PSP% 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.

    Exchange rates: TransferGo will convert your money using the prevailing mid-market exchange rates, minus a margin of 0% to 2.2%. The exchange rate is locked in advance, so that you know exactly how much money will arrive.

    Transfer fees and options:
    Note that transfer options depend on the countries you are sending money from and to.

    • Free (and cheap!): If speed is not an issue and you want to guarantee the lowest costs, opt for the free option. These transfers will take up to 3 business days from when TransferGo receives the funds. The exchange rate margin will be zero. Note that with this option you also won't incur a flat fee but you may be charged additional costs (up to 0.5%) if you pay by debit or credit card.
    • Standard: For standard transfers (which gurantees next day delivery in most countries) 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. the exchange rate margin is 0% to 2.2%.
    • Now/today: For time-sensitive transfers, go for this option. TransferGo Now means recipients will receive money in as little as 30 minutes after the transfer is made. TransferGo Today a same-day delivery option and guarantees money delivery by 5.30pm (GMT) on the same day a booking is made (the transfer must be made by 12:30pm GMT). The flat fee depends on the amount your sending but the exchange rate margin is guaranteed to be 0% to 2.2%.

    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.

    TransferGo ranks high in terms of usability. They ranked #2 in Monito's benchmark study that evaluated the user experience of sending money online with 10 money transfer providers.

    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's headquarters are in London, and it employs 150 people across its offices in the UK, Lithuania, Germany, Poland and Turkey. Employees give the company a 4.1 star rating on the employer review site Glassdoor, and describe TransferGo’s as a place where you are “...surrounded by motivated professionals who are focused to deliver a great product.” that the “team and management is dedicated to help customers.”

    TransferGo has raised close to $41M dollars from various renowned investors and industry veterans as well as crowdfunding campaigns.

    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 7500 customers who have given their feedback rating the company 5 stars. In general, TransferGo is also very good at responding to negative comments in an effort to resolve issues.

    Here’s a summary of what TransferGo customers have to say.


    • The high speed and low transfer costs is what is loved most
    • Customers liked how easy it is to use the service
    • Customers feel very safe using TransferGo and describe them as trustworthy


    • In some instances, standard transfers took more than one business day to arrive in countries where they normally should arrive within a day. 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.

    • Mobile apps

      TransferGo offers mobile apps for both iOS and Android smartphones and tablets. They provide a fantastic user experience and are very convenient--you can send money and obtain immediate updates of the status of your transfer. The apps are rated 4.3 / 5 in the Google Play Store and 4 / 5 in the Apple App Store.

    Which documents will TransferGo require to verify my identity?

    To comply with anti-money laundering regulations, TransferGo must verify your identity if your first transfer exceeds £900 (or the equivalent in another currency). You may be required to upload a copy of an ID and selfie of yourself. In some instances. TransferGo reserves the right to request additional documents.

    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.

    Money transfer guides

    • 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

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    Questions you may have

    Read our guides on sending money abroad