TransferGo review
TransferGo specializes in fast, low-cost transfers between Europe and key global corridors. Popular with expats and migrant workers.
Countries
70+
Currencies
50+
Speed
30 minutes to 3 days
Fees
£0.99 - £2.99 per transfer
Is TransferGo the right choice?
TransferGo Ltd is a UK electronic money institution, authorised by the FCA under reference 991295 since January 2024, and a second company, UAB TransferGo Lithuania, holds an e-money licence from the Bank of Lithuania. TransferGo only sends from Europe, and its app pays bank accounts, debit and credit cards and, in some countries, cash. It fits a migrant worker in the UK or EU paying family regularly, and it also offers a multi-currency account and a GoCard.
What we measured over the last 91 days
TransferGo appears in our 91-day record on pound routes, priced at £100 each day. It led 1 of 9 comparable corridors and averaged 1.19% behind the day's leading payout. The quotes we hold are for payouts to bank accounts with no separate transfer fee, so the exchange rate accounts for that gap; TransferGo's help pages say card-funded transfers cost more to process than bank transfers.
Paying someone who only gave you a phone number
TransferGo can send to a receiver identified by phone number: it texts them a link, and they have 48 hours to add their bank details before the money is paid out. A card payout needs only the receiver's full name, 16-digit card number and expiry date, up to 2,500 US dollars per transaction, and in Morocco receivers can collect cash with a Cash Plus code and a passport, national ID or driving licence.
Sending from outside Europe, or from a shared account
TransferGo says it only supports transfers from Europe, so a sender based in North America, the Gulf or Asia cannot use it. Payment must come from your own personal account: it may ask a joint account holder for a statement showing both names, plus the other holder's date of birth, nationality and ID, and money paid from someone else's account has to be resolved before anything is sent. Users must be 18 or over.
Before you send with TransferGo
Pay inside the guaranteed window. TransferGo's terms for TransferGo Ltd say a guaranteed rate holds only if your money arrives within the stated period; arrive later and it converts at the rate then applicable, or emails to ask whether to proceed. Its collection accounts are also moving to UAB TransferGo Lithuania, with an Estonian IBAN for euros, so delete old saved payment details and copy the ones the app shows.
Pros
- Very competitive European corridor rates
- Fast delivery (often same day)
- Simple, clean app experience
Cons
- Fewer destination countries than Wise/Remitly
- Not available in the US
TransferGo features
TransferGo transfer details
Published by TransferGo. Not measured by us; TransferGo’s limits and methods vary by country.
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Comparisons
- TransferGo vs Wise
- TransferGo vs Remitly
- TransferGo vs OFX
- TransferGo vs XE Money Transfer