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

2,576 customer reviews on TransferGo on Trustpilot


5 hours ago
by Irma Jankauskaitė

2 stars

The person was supposed to get money on …

The person was supposed to get money on Friday but got only today as they did not aprrove my ID at first.

5 hours ago
by Vaidas Vilkelis

2 stars

It used to be good, but...

The transfer takes 4 days instead of promised next day delivery. A lot of unnecessary documents to send as well. Transfergo was a 5-star service when they...Read more

The transfer takes 4 days instead of promised next day delivery. A lot of unnecessary documents to send as well. Transfergo was a 5-star service when they started, but now their standards have dropped, you will never get your transfer before 5PM.

5 hours ago
by MARTINA BREAKINGBURY

5 stars

Excellent and very easy to use service!

Excellent and very easy to use service! User friendly to set up an account at very low cost compare to banks and other money transfer company. I also...Read more

Excellent and very easy to use service! User friendly to set up an account at very low cost compare to banks and other money transfer company. I also used it through a cashback website which gave me nearly £20 cashback for transfers of £50 or more. I've already used it twice and will definitely carry on in future.


More reviews

5 hours ago
by Neda Liutkeviciute

5 stars

Good service

Good service

5 hours ago
by Adrian Stebelski

3 stars

Some Times transfer is slow

Some Times transfer is slow

5 hours ago
by Soiman Claudia

5 stars

Open minded business

Exceptional service.

2 days ago
by Ieva Kariniauskiene

5 stars

Fast transfer

Fast transfer , cheap transfer payment, would definitely recommend to anyone who wants to send money.

3 days ago
by Dariusz Poczatek

5 stars

High recommended

High recommended

3 days ago
by Julius Valkiūnas

5 stars

Quick, simple, super cheap

All the money transfers I made via TransferGo were quick, simple and cost almost nothing. Will certainly use it again.

3 days ago
by Jacek Czerek

5 stars

Perfect

Perfect Perfect

3 days ago
by Florin Bratu

5 stars

Everything is ok.

Everything is ok.

3 days ago
by samirajan SHANMUGAM

5 stars

Value of money

They give good Value for my money.i really like to use this way of transfer

3 days ago
by MAREK KICZMACHOWSKI

5 stars

Happy customer

Good and fast service,

3 days ago
by Ernestas Dobrovolskis

5 stars

Never had any issues

Never had any issues. It was always fast and cheap.

4 days ago
by Ilze

5 stars

very good and safe website

very good and safe website

4 days ago
by Neringa Gadaite

5 stars

Fastet and easy .

Fastet and easy .

4 days ago
by Denys Nazarenko

5 stars

Very good

Money comes quickly and without problems

4 days ago
by Paulius Savliak

5 stars

Super site,I thank for this.

Super site,I thank for this.

4 days ago
by Ihor Sorokin

5 stars

Grate

Grate, grate, grate

4 days ago
by Oleksandra Tkach

5 stars

you are cool!)

you are cool!)

4 days ago
by VOLODYMYR KRUSHELNYTSKYI

5 stars

All super...

All super...

5 days ago
by Tomas Eitmonas

5 stars

Good thanks like you greath ok ok om …

Good thanks like you greath ok ok om ok ok

5 days ago
by Pawelzbytomia

5 stars

Everything was okey and money come very …

Everything was okey and money come very fast

5 days ago
by Romeo

5 stars

One of the best transfer service.

One of the best transfer service.

5 days ago
by FERONERIE USI SRL

5 stars

Very good we recomend

Very good we recomend

5 days ago
by Larisa Monica Dumitrescu

5 stars

I would recommend this company to …

I would recommend this company to anyone. Quite happy with their services. Promptitude, the most profitable currency exchange, The operation made at home

6 days ago
by Magda Diaconita

5 stars

Excelent

Super......

6 days ago
by Damian Obrębski

1 stars

To much long time wait for aproved

To much long time wait for aproved

6 days ago
by Emil Gorbacewicz

5 stars

Fast

Fast, cheap, great!

1 week ago
by Marcin

5 stars

It is the best and most reliable money …

It is the best and most reliable money transfer service! Really good rates, quick, easy to use interface.


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 account in their 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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