(10 reviews)

TransferGo Review, Exchange Rates, Fees Calculator & User Score

  • Fees and costs: Very Good
  • Transfer speed: Very Good
  • Safety and reliability: Good
  • Customer satisfaction: Very Good


  • Different transfer options to fit all budgets
  • Well-designed site and mobile app
  • Fast delivery


  • Worse exchange rates than the competition

9 users would recommend it

0 users wouldn’t recommend it


What is TransferGo?

TransferGo wants to provide cheap international money transfer services, with the focus on migrant workers who want to send the earned money back to their families in their home countries. Currently, they operate with the focus on Europe. However, they also support sending money out to the United States, Hong Kong or even India and South Africa.

How Does TransferGo Work?

All you have to do to send money internationally through TransferGo is sign up on their website, fill out the information about your recipient, send money to them via your local bank, and they will take care of the rest and deliver the transfer overseas. You can handle and order all of the transactions conveniently online, without any need to stand in queues or going to local facility.

TransferGo Transaction Time

There are different delivery options you can choose from, depending on your budget. The cheap delivery takes around 3 days. There is an option for next day delivery after paying an extra fee. When there is an urgent situation, you can choose fast delivery, and your recipient will get the money in less than 30 minutes.

TransferGo Fees and Costs

TransferGo offers regular transactions without any additional costs, but if you want to deliver the money fast, you need to pay extra. The next day's delivery fee is 0.99GBP, while the cost of fast delivery, which takes only a few minutes, depends on the amount you want to send.

TransferGo Exchange Rate

The currency conversion margin is set at around 0% to 2.2%, depending on the amount you want to send.

There is an online currency exchange tool on their webpage. However, the rates displayed are taken from the mid-market, which is the inner currency market of banks and financial institutions and the user needs to remember that the final price will differ from it.

TransferGo Limits

There is no daily limit or a particular amount of money you can send via TransferGo. They will accept all of the transactions, even the smallest ones. However, after a certain amount of transactions they may ask you for additional verification to comply with all of the anti-money laundering laws.

TransferGo and Ripple partnership

TransferGo explores various technologies, which can accelerate the international money exchange, they announced that: “By changing the way we move money we actually decreased the cost by 90 percent”, which explains why they are able to provide the transfer services significantly cheaper than the competition.

Ripple is a company, which explores the potential of blockchain technology (the same used to create cryptocurrencies like Bitcoin, for example) but utilized in modern finances and banking. Ripple’s technology is being currently tested on payments to India, which is a remote country taking into consideration that TransferGo headquarters are in the United Kingdom.

They explain that:

“we just launched our first xCurrent transactions from everywhere in Europe to India through a partnership with Axis Bank. Ripple helped us build and manage this relationship.”

TransferGo compared to wire transfer and banks

In terms of all the costs and fees, TransferGo provides significantly cheaper services than any mainstream bank or financial institution. However, you still need to send them money via a regular bank wire or credit card, which would generate additional processing costs. But because TransferGo takes your payment in your country, the regular money transfer to them is still free of charge and easy to order from your local bank. Then, the international money transfer is processed via the TransferGo system instead of, for example, SWIFT network, which generates additional costs and takes a few days to deliver.

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How to use TransferGo?

To start sending money through TransferGo, you need to create a free account on their website.

How to sign up?

Click on the “Register” button at the top of the site and fill out all of the account information. You can also connect to the platform via your Facebook or Google account, which can speed up the process.

Before your second money transfer or in case your fist one exceeds 900GBP, the company will ask you for more details and some documents for the verification.

As with any other legal financial services, you need to provide your information and upload images of your ID for the identity verification. You need to scan it or you can simply take photos with your smartphone and upload it to their site. Sometimes, you have to take a photo of you holding the documents so that they know it’s really you.

Is TransferGo safe and reliable?


TransferGo is fully regulated by the FCA (Financial Conduct Authority) and supervised by HMRC (Her Majesty's Revenue and Customs). This means they need to comply with all of the laws and financial regulations and also provide security measures same as any commercial bank. To handle your personal information, they use SSL to protect the online data and are also registered with ICO (Information Commissioner's Office), which is the UK's independent authority set up to uphold information rights in the public interest.


The great majority of comments and TransferGo reviews found online are positive. Most of the people order daily transfers of different amounts without any problems, while the customer service quickly solves potential issues.

“No problem with anything. Transfer from England bank (pounds) to Latvian bank very fast” ~ Ivo on TrustPilot

“Percentage is really good, but the exchange rate is not the best! However, I did it in euro and now its all right. Thank you guys!” ~ Viorel on TrustPilot

There were some reports about transfer problems: “The indicated times are not kept. It should only take 3 days, and the money has not been on the account for a week.” But the company replied, explaining that: “Unfortunately, the first time we processed your transfer, it was rejected by the recipient's bank because the receiver's bank account was opened in a different currency than you have indicated in your booking.” Therefore, it’s important to double-check if your recipient’s bank won’t reject the transaction for some reason, for example, because of the wrong currency or exceeding their local limits when it comes to the amount.

The user should also remember that most of the online payment platforms charge additional costs for processing credit or debit cards. Therefore, the best way to make a payment is through a regular bank wire.

“No hidden cost?! Be careful when paying with credit card I have just been charged £44 for transaction I have done recently. You would expect company like this to be clear about additional charges!” ~ complains Magdalena on TrustPilot

While officially you need to provide detailed documentation before your second transaction, in some cases or with more significant amounts, the company may demand you to verify the account even on the first payment.

“Be aware, that TransferGo can dely acceptance of submitted funds by (in my case) 19 hours, and after that, they keep requesting more and more additional proofs of identity. None of that was required at the beginning, in order to set up an account!” ~ says Ole in his comment on ICOMPAREFX

Customer Support

You can reach the customer support of TransferGo via phone call, email, or even message them on Facebook for live chat. They have established phone centers in a few European countries so that you can talk with them in your native language. There is available English, Polish, Russian, or Turkish, just to name a few.

For most of the basic questions, you can find answers in the help section of the website, which neatly explains all of the fees, transfer process, or account settings.

Final Thoughts

TransferGo Review

TransferGo, with its differently priced transfer option, can fit all needs and budgets. If you are in a hurry, your money can be delivered within minutes for an extra fee, while the standard slower method is free of additional charges. The majority of people are happy with the service. However, some of them complain about unfavorable exchange rates. The whole design of the website and mobile app is very good and makes it easy to use the site. The help section provides all of the needed information, and the costs and details are rather transparent.

Our users comments

The overall money transfer process was very simple and hassle free. One can expect some hiccups during the registration process, as just like on every other platform they require some additional proofs and verifications before you can send money. But their representative will call you if there are any problem so you can quickly resolve any problems its good. As mentioned by other customers - best rates and transfer fees are for EU to EU transfers. They are almost instant and with good rates. Sending money to more distanced places can be more tricky and can take few days or the exchange rates aren't the best, but it's manageable. So overall, the platform is really good for overseas payments despite some drawbacks. I can safely recommend it.

~ Indigo

Good and reliable service. Whenever I had to solve any problem I contacted the support and they always knew what to do. Perfect

~ Basily

The more money you sent the better the exchange rates are, so it's better to do one big transfer if you can as the service is quite cheap then.

~ Tanya

Very good customer support they solved my transfer issue instantly!

~ Magdalena

Successfully sent money both within EU and it was really fast and cheap, but also I sent it to USA and there also wasn't any problems, but it took two days.

~ Lili F

I don't like the fact that they don't transparently notify you about the transfer status, so when there are some delays or problems you don't really know that and start to worry why the transfer didn't go through and what to do next. Should be improved in the design!

~ Klark I

The future is now. The transfer was EASY to make and arrived INSTANTLY. Finally, good remittance.

~ Alexander

I tried different money transfer apps and I really enjoy TransferGo as a whole. It's easy to use, well-designed and offers all of the necessary features. One thing they could improve is to add option to automatically fill in the recipients information for online payments as it would make the transfer even faster.

~ good app

Easy to use, cheap, quick. Good site

~ Pablo

I sent 500EUR to Spain and the transfer arrived the same day. GOOD!

~ Mauricy

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