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TransferGo review
A fast and reliable service for money transfers from Europe.
TransferGo offers quick and easy money transfers from Europe and Turkey to over 65 countries worldwide. It has transparent fees and instant delivery options – including being able to send money straight to a debit or credit card. While you can expect to pay an exchange rate margin when sending money overseas, new TransferGo customers can take advantage of promotional rates as well as zero fees for their first two transfers.
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Why should I consider TransferGo?
- Transparent fees. TransferGo is transparent with its fees and you can see exactly how much you will need to pay before committing to your transaction.
- Fast transfers. You can choose between transfers within 30 minutes, same day transfers and next day transfers, depending on how much you want to spend.
- Varied delivery options. Alongside traditional transfer methods, you can also transfer money directly to a debit or credit card.
- Customer support. TransferGo has multilingual customer support and offers live chat through its app.
What do I need to be aware of
- Limited origin countries. The number of countries that you are able to send money from is limited when compared to some other money transfer providers.
- Exchange rates. TransferGo’s exchange rates include a mark-up on the mid-market rate.
- No cash pickup option. While there are plenty of other delivery options, you are not able to send money for cash pickup with TransferGo.
How much are TransferGo’s fees?
TransferGo’s fees are dependent on what transfer speed you opt for. If you are looking for your transfer to arrive within 30 minutes, you can pay a slightly higher transfer fee of €1.49. But if you are happy to wait for next day delivery, then you pay a low fee of €0.99.
It’s worth noting that when we checked in March 2022, TransferGo was running a promotion for new customers which meant they paid zero fees on their first two money transfers.
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How are TransferGo’s exchange rates?
Like most other money transfer providers, TransferGo adds a margin to its exchange rate. This is a small markup on the mid-market rate. It’s best to compare the displayed rate on TransferGo with the current interbank rate to work out the size of this margin.
Also, remember that TransferGo’s new customer promotion also includes a strong exchange rate for the first two transfers.
What are the ways I can send money abroad with TransferGo?
You can easily send money abroad using TransferGo’s online service or mobile app. You’ll first need to register for an account, which you can do in a few simple steps.
How to send money transfer with TransferGo
What are TransferGo’s payment options?
TransferGo’s payment options are limited compared to some other money transfer providers. You can either make a bank transfer or you can pay by debit or credit card. Keep in mind that your credit card provider will treat the transaction as a cash advance and you will be charged an additional fee as a result, adding to the overall cost of your transfer.
How long does an international transfer with TransferGo take?
The speed of your transfer will depend on what delivery option you choose and whether or not you want to pay for a faster transfer.
Most transfers are completed in 1 working day, but there is an option for fast transfers which will see your fund arrive in 30 minutes.
Is TransferGo safe to use?
TransferGo was established in 2012 and is fully licensed. It follows the regulations set out by the Financial Conduct Authority (FCA) in the UK, the Bank of Lithuania, EU regulations and authorities in every country in which it operates.
It protects customers’ money through safeguarding. This means it keeps customer funds in separate accounts to its own. So if it were to ever go bust, customers should receive a full refund.
How does TransferGo compare to other money transfer services?
If you want to see how TransferGo compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.
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