TransferGo international money transfers review
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Next-day remittances to 40+ countries with transparent fees and margins of no more than 1.5% on the mid-market rate.
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How are Transfer Go’s exchange rates?
TransferGo’s exchange rates are typically lower than those offered by your local bank or other financial institutions. It uses the the mid-market exchange rate less a low margin of 0.4% to 1.5%. Fees are transparent and typically never more than 2.1 GBP, depending on the country and currency.
How much will I pay to send money with TransferGo?
TransferGo’s fees depend on the country and currency for your transfer. But all fees and rates are explained up front and are included in your cost before booking your transfer.
What is the mid-market rate?
The 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.
Minimum transfer amounts and available countries
TransferGo enforces no minimums or maximums for transfers, but you could save more on exchange rates and fees for larger transfers.
Send and receive payments in 33 countries
How do I send money through TransferGo?
It’s easy to transfer your cash in four quick steps:
1. Create a TransferGo account. Provide the country in which you’re located, your email address and your banking details.
2. Set up a transfer. Specify how much you’d like to send and your recipient’s details.
3. Make a local bank transfer. Transfer funds from your bank account to your TransferGo account or pay instantly with your debit card.
4. Track your transfer. Sign in to your account to see your transfer’s progress from pending to complete.
If you’re sending more than 700 GBP or a second transfer after signing up, you’ll need to verify your identity with government-issued ID, proof of your address and proof of your funds.
Recipients of your transfers must also register with TransferGo. Once they’ve signed up, sending money is as simple as providing their name, business name and email address along with the amount you’re sending.
How do I track my TransferGo transfer?
To see the status of your transfer, log in to your TransferGo account and click the Transfers tab. You can confirm whether TransferGo received your bank funds, is processing your transfer or has completed the deposit to your recipient’s account.
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 that tops out at 1.5%, depending on the country and currency.
No limits. Send as little or as much as you need with TransferGo.
Solid user reviews. Customers give TransferGo high marks.
Limited availability. TransferGo is not available worldwide — or to US customers.
Bank deposits only. Your recipient must have a checking or savings account to get your funds.
How safe is TransferGo?
TransferGo takes the safety of your personal and financial information seriously. The provider is a licensed authorized payment institution in the UK, which means it’s held to such standards as keeping customer funds separately from its own accounts, among other safeguards.
It keeps your personal and financial information safe through modern security technology, including SSL encryption between its servers and your browser.