TransferGo Review

See why TransferGo is one of our top money transfer apps. Read the review.

Transferring money through banks is often slow, expensive, and complicated. But fortunately, there are services like TransferGo that can make it fast, cheap, and easy.

This company, in particular, offers one of the most famous money transfer services out there. But you must already be aware that it's not the only option.

So, a thorough research of the platform, its features, and the cost associated with the service is not just a good idea; it's necessary. In this review, we cover all of that.

What is TransferGo?

TransferGo is a payment service provider. In other words, it's supposed to help you send money abroad or locally in the fastest, cheapest, and most straightforward way possible.

The idea for the service was born back in 2012. The company's CEO, Daumantas Dvilinskas (owner of an import-export business back then), had to incur huge fees and slow transfers when he wanted to send money abroad.

So, he went on a mission to change that. Long story short, TransferGo was born, and thousands of happy customers later, the company still helps you send money in an inexpensive, fast, and secure way.

But everyone has different needs when it comes down to the details. So, let's examine some pros and cons about their service, and you can be the judge if this is for you.


  • Very Competitive Rates on International Money Transfers
  • Great Variety of Delivery Options
  • Fee Transparency
  • Multilingual Customer Support Team
  • User-Friendly Mobile App to Transfer Money On the Go
  • You'll Get Paid £20 Every Time you Refer Someone to the Service 


  • Limited Network of Countries that you Can Send Money from 
  • No Variety of Payment Methods
  • Live Support Is Only Available through the Phone

Is TransferGo Safe?

The short answer is "yes." The company is almost a decade old, and they have helped thousands of customers send money abroad within that period. Transfergo is based in London, and it's been nominated for "Fastest Rising Start-up" at TechCrunch Europa Awards 2018.

In addition, It is a UK-licensed Authorised Payment Institution, and it abides by FCA regulations. In other words, Transfergo keeps your money separately from the company's business accounts.

When it comes to your transactions, they're going to be HTTPS encrypted as per the industry standard. And the company also uses SSL technology to keep your money safe.

Lastly, it will never ask for sensitive information through any other way than secured form fields. On top of that, it will never share your data with third parties, and only employees with special clearance will be able to access it.

In conclusion, your money will be safe here no matter the circumstances.

Platform & Features

Using the platform is very easy. You can transfer money either by using the web platform or the mobile app (available on Apple Store, Google Play, and AppGallery).

The service covers any need you might have:

  • Paying your mortgage or rent
  • Paying bills
  • Covering emergencies
  • Paying business suppliers

The most important feature of their service is that your money will not have to cross any border. You will be using the platform to send money to TransferGo locally, and then they will locally send that money to the recipient in the supported country.

That is what makes the process so cheap and fast.

TransferGo Fees & Commissions 

Now, let's examine the whole cost structure.

Exchange rates

On top of the fluctuating mid-market rate, which will depend on the global foreign exchange market, TransferGo will also charge a small margin of 0.2% to 2.2%.

This varies based on how much money you will be transferring. The larger the amount, the lower the rate.

Flat Fees

Besides the exchange rate, you will also pay a flat fee for every transfer you make. This will depend on the delivery option you choose:

  • Standard - Sending money within the next 3 days costs 0.99£. Note that it can be free in some European countries and you will be able to transfer your money in just one day.
  • Today - Sending money the same day usually costs 1.99£, but it can cost as much as 2.99£, depending on the country.
  • Express - This option will get your money transferred the next day (usually in the morning hours), and it costs £2.99.
  • 30 Minutes - Sending money in 30 minutes costs around 2.99£. The fee varies depending on the country you send the money to, and it can be as much as £5.99.

Note that you will always be able to see both the exchange rate and the flat fee applied in your situation before you make the transfer.

Other Costs

  • If you use a credit card as your payment method, you might have to pay an extra fee to your bank (which TransferGo will have nothing to do with). So, it's best to get in touch with your bank before you use a credit card.
  • Some bank deposits may involve Inward SWIFT charges, depending on the country you send the money to. Again, the company is not in control of any fees such as this.

How to Open An Account

Here's how to open an account on TransferGo, step by step:

  1. Provide your phone number to receive a verification code
  2. After you receive the verification code, enter it into the field that the page will present.
  3. Then, provide your email (make sure to check the box underneath if you want to receive tips and exchange rate offers in the future)
  4. Now, fill out the personal information form.
  5. Afterward, provide your residency address (make sure that the card or bank account you add later will match that address, or your transfers won't go through).

And that was it! You will be ready to make a transfer.

The only thing that's left to do next is to confirm that the account is yours. This is a necessary step when making a second transfer, or the amount you want to transfer is equal to or exceeds 900 GBP.

You can confirm your account by going to the verification section on your profile and share with them any of the following documents:

  • Passport
  • National ID Card
  • Driving license (only if it was issued in the United Kingdom)
  • Residence Permit

Open an Account Today

How to Send Money with TransferGo

Sending money with this service is as easy as creating an account.

Just follow the steps below, and you'll be one step away from making your first transfer:

  1. From your dashboard, first, select "Send Money"
  2. In the "Transfer Details" form that will appear, type the country you will be sending money from in the "Sending From" field and the country that you want to send money to in the "Receiver gets in" field.
  3. Then, type the amount of money that you want to send in the corresponding box beside the "Sending From" field (or you can use the box underneath to determine the exact amount that you will want your recipient to receive)
  4. Choose your delivery option in the section below those fields, "CHOOSE WHEN TO DELIVER:"; remember that the fees that you will be charged may vary based on the countries that you have selected.
  5. Click the "Continue" button at the end.
  6. Choose whether this money will go to a person or business.
  7. Type in either the name/surname or the name of the company.
  8. In the "DELIVERY OPTION:" section, choose a payment option and fill in the payment method information fields just below; this can be either a debit/credit card or a bank account.
  9. Then, you will have the chance to review your order and be able to complete it.


At the end of the day, TransferGo offers an excellent service to customers for the price they charge. If you want to transfer money in a fast, secure, and cheap way, this is the service you're looking for.

From the flexibility in delivery options to the transparency of the fees you will be paying, it's one of the best money-transfer services out there. Not to mention that if you appreciate the service, you can refer friends and relatives to it and make some extra money as well.

All in all, transferring money can be a tedious and quite expensive activity when banks get involved. TransferGo solves this problem very effectively and sets a standard in the industry regarding speed, price, and customer service.

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