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Review: TransferGo international money transfers

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Fast, simple and cheap next-day transfers to anywhere in Europe and beyond.

  • Good for next-day transfers and sending money to all major currencies within Europe.
  • Not so great for cash pick-ups and large payments over GBP1,000 or equivalent.

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TransferGo exchange rates and fees

TransferGo’s fees depend on the country and currency for your transfer. All fees and rates are explained upfront and are included in your cost before booking your transfer.

Available currencies

TransferGo is available in over 40 countries. Some of the more popular currencies include:

  • EUR Euro
  • DKK Danish krona
  • PLN Polish zloty
  • RON Romanian leu
  • SEK Swedish krona
  • GBP Pound sterling
  • NOK Norwegian krone
  • HUF Hungarian forint

What types of transfers can you make with TransferGo?

TransferGo focuses on two main transfer types – business and personal. It doesn’t offer any forex options like limit orders or forward contracts yet.

  1. Spot contracts. You can use TransferGo to make single payments from one currency to another. You’re not able to set up a recurring transfer, yet.
  2. Business transfers. If you’re after an international payments solution for your business, TransferGo can help you out with this.

Which payment methods does TransferGo accept?

TransferGo supports bank-to-bank transfers, as well as ones made by debit or credit card to a bank account. This means you won’t be able to pay for your transfer with cash or send to a cash pick-up location.

Keep in mind that a bank transfer will usually cost you the least. Paying by credit card ends up adding a percentage fee on top.

TransferGo currently accepts Visa and Mastercard debit and credit card payments in EUR, GBP, PLN, NOK, SEK and DKK only. If you’re planning to do a card transfer over a bank transfer, there’s a GBP1,000 limit or equivalent (around €1,150).

It does not accept prepaid cards or other types of card.

How long does a transfer with TransferGo take?

There are a range of delivery options available with different fees. TransferGo can guarantee its standard money transfers will arrive the next business day but keep in mind that it doesn’t process any transfers over weekends or bank holidays.

Its delivery options include:

  1. Three-day delivery. Free
  2. Same-day delivery. €1.99
  3. Standard one-day delivery. €0.99
  4. 30-minute delivery. €2.99
  5. Express next-working-day delivery. €2.99

Is TransferGo safe to use?

  • Security and regulation: Government regulated with SSL encryption technology.
  • Established: 2012.
  • Number of customers: Over 800,000 customers around the world.*
  • Reviews: Trustpilot gives TransferGo a score of 9.6 out of 10, based on over 9,100 reviews.*
  • Investors: Vostok Emerging Finance, Practica Capital, Revo Capital.
*According to TransferGo and Trustpilot on 21 March 2019.

TransferGo verifies all its users in order to comply with AML regulations and KYC procedures. You’ll need to upload photos of the front and back of your passport or driver’s licence.

How does TransferGo make money?

TransferGo charges a fixed fee depending on how fast you want your money to arrive and can also add up to a 2.2% margin to the exchange rate. It does use the mid-market rate in some instances but this depends on the currency, so check you have a favourable rate before proceeding with any transaction.

What is the mid-market rate?

The mid-market rate is the rate financial institutions and foreign exchange brokers use to trade large transactions. It’s a midway point between foreign currency buy-and-sell rates. This rate is fluid and changes every couple of seconds as currencies are traded on the global foreign exchange market.

How to register an account and send your first transfer

What is TransferGo?

Launched in 2012, TransferGo is a money transfer service based in London offering remittances between more than 40 countries. It was created to essentially help workers in Europe save time and money when sending their hard-earned cash to loved ones. It claims to be transparent so that its customers won’t find any hidden fees.

While customers can send money from almost anywhere in Europe, around 10 countries operate with limited services and can only receive money with slightly longer delivery times. These countries include the US, Canada and Australia.

In a nutshell


  • Low, transparent fees. You’ll see your total fees before booking your transfer.
  • Competitive rates. TransferGo adds a low margin to the mid-market rate depending on the country and currency.
  • No limits on bank transfers. Send as little or as much as you need with TransferGo.


  • Limited availability. Countries like the US, Canada and Australia can currently only receive funds and delivery may take longer.
  • Bank deposits only. Your recipient must have a current or savings account to get your funds.
  • Low maximum limit for cards. There are limits of GBP1,000 or equivalent (around €1,150) on card transfers.

How does TransferGo compare to other providers?

Check out some of TransferGo’s competitors in the table below to see how it compares.

Name Product Minimum Transfer Transfer Time Transfer Fee
TransferWise - Ireland
1-2 days
Azimo - Ireland
GBP 10
Remitly - Ireland
1-5 days
EUR 2.99
Skrill - Ireland
EUR 50
1 day
XE Money Transfers - Ireland
Same day
WorldRemit - Ireland
Same day
CurrencyFair - Ireland
1-2 days

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