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

2,352 customer reviews on TransferGo on Trustpilot


22 hours ago
by Alda Joksaite

5 stars

So quick and easy send money at home

So quick and easy send money at home

1 day ago
by Yaroslav Mudryi

4 stars

Transfer review

Everything is going fine. The transfer was performed in the very fast way. I will use transfergo system for the next time for sure. I also will recommend...Read more

Everything is going fine. The transfer was performed in the very fast way. I will use transfergo system for the next time for sure. I also will recommend your transfer system to my natives and friends.

2 days ago
by Monika Mate

5 stars

Love is in Details

Love is in Details! Super!


More reviews

2 days ago
by Arvydas Pocevičius

5 stars

Very good choose.

Very good choose.

2 days ago
by Vlad

5 stars

Everything is great

Everything is great, quick transfer, low commission and good rate

2 days ago
by Klaudia

5 stars

Nice and easy !!!;)

Nice and easy !!!;)

2 days ago
by Pawel J. Chyla

5 stars

Great service

Great service! Recommend!

2 days ago
by Edmundas Jonusas

5 stars

Professional friendly service

Professional friendly service

2 days ago
by Piotr Suchorski

4 stars

fast and safe....

fast and safe....

2 days ago
by Radek Kuzminski

5 stars

Great service

Great service

2 days ago
by Aneta Zdanowska

5 stars

Very good!

Very fast!!!!! Amazing!!!

2 days ago
by Tomas

5 stars

Easy

Easy, fast, reliable.

3 days ago
by Alex

5 stars

Fast and reliable !

Fast and reliable !

3 days ago
by Lorena Ischi

5 stars

Good transfers

Good transfers

4 days ago
by Ionut Stefan Gheorghe

5 stars

Best transfer application in the world

Best transfer application in the world! Saves alot of time and its easy to use!

4 days ago
by Judit

5 stars

Very quick and reliable service

Very quick and reliable service. Ieva was brilliant helping me out with my transfer. Thank you

4 days ago
by Tomasz Bochenek

5 stars

Fast and trusted website for Money …

Fast and trusted website for Money transfer

4 days ago
by Egle

5 stars

Absolutely brilliant.

Absolutely brilliant. Easy to use. Cheap. Highly recomend to others!

4 days ago
by Jolita Matkienė

5 stars

Works very well

Works very well, fast and quality.

5 days ago
by Olga Nowak

5 stars

I highly recommend the company

I highly recommend the company! Good and quick service.

5 days ago
by Anna Rogozina

5 stars

Thank

Thank. Veri fast money to Londoon. Anna

5 days ago
by Mihail Cristian

5 stars

The best company!!!

No reservations, I would recommend this company to anyone.

5 days ago
by Ramona Elena

5 stars

Best way to send money cheap!

Best way to send money cheap!

5 days ago
by Damian Kupść

5 stars

The Best and profesional staff

The Best and profesional staff

5 days ago
by Arunas Katkevicius

5 stars

Unbelievable cheap and smooth …

Unbelievable cheap and smooth service!!! 100% recommend

5 days ago
by Irmantas Činga

1 stars

The worst possible way you can transfer …

The worst possible way you can transfer the money, never again !!! The most unprofessional service I have came across in my life. My money havent reached...Read more

The worst possible way you can transfer the money, never again !!! The most unprofessional service I have came across in my life. My money havent reached the receipient, because incomplete information, which is fully Transfergo fault, they took the money from my account without assurance what they will be able to complete transaction, and I end up in loosing the money, and have to transfer my own money back to myself and pay for it !!! It took me a week to get my money back, disgrace !!!!

5 days ago
by laurentiu adrian rusu

5 stars

Very happy whit the service thank you

Very happy whit the service thank you

5 days ago
by Oleksii Zymohliad

5 stars

Good

Good program

5 days ago
by Silviu Nicolae Chirila

5 stars

Very good

Un serviciu bun, rapid si economic

6 days ago
by Olga Voronska

5 stars

super!!!!!!!!!

super!!!!!!!!!


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 […]



Ask questions or share your comments on TransferGo




Compare all the options before your next money transfer Compare now

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


Find the best provider for your next transfer

The cost of sending money depends on the amount of money sent, the countries you're sending between, and the type of transfer. Make sure to compare before each of your transfers as costs also vary through time.

Read reviews on money transfer companies

Get independent information about money transfer companies, read customer reviews, step-by-step guides, security information, and frequently asked questions.



Proudly made in Switzerland

Global Impact Finance Ltd
Rue Etraz 4
1003 Lausanne
Switzerland


Mobile Analytics