Remitly vs TransferGo: Fees, Rates & Speed Compared
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
TransferGo
4.4TransferGo specializes in fast, low-cost transfers between Europe and key global corridors. Popular with expats and migrant workers.
Remitly and TransferGo are both popular choices for international money transfers, but they take different approaches. Remitly, founded in 2011 and headquartered in Seattle, USA, is best known for cash pickup and global coverage. TransferGo, operating since 2012 from London, UK, focuses on fast, small remittances. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a £500 GBP → PKR transfer, Remitly delivers ₨11064.49 more to the recipient.
In this comparison
Live comparison: Remitly vs TransferGo across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs TransferGo on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | TransferGo | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹94,613.02 | — | N/A |
| GBP → EUR(£1,000) | €1,145.44 | €1,153.52 | TransferGo (+€8.08) |
| USD → PHP($500) | ₱29,375.75 | — | N/A |
| USD → MXN($1,000) | MX$16,902.42 | — | N/A |
| GBP → PKR(£500) | ₨187,984.49 | ₨176,920.00 | Remitly (+₨11064.49) |
| USD → NGN($200) | ₦272,917.21 | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Remitly and TransferGo
Remitly vs TransferGo: Feature comparison
| Feature | Remitly | TransferGo |
|---|---|---|
| Overall rating | 4.6/5 (Excellent) | 4.4/5 (Excellent) |
| Fee structure | From $0 to $3.99 per transfer | £0.99 - £2.99 per transfer |
| Exchange rate markup | 0.5% - 2% above mid-market | 0.3% - 1.5% above mid-market |
| Transfer speed | Minutes to 3-5 days | 30 minutes to 3 days |
| Supported countries | 100+ | 70+ |
| Supported currencies | 40+ | 50+ |
| Max transfer | $10,000 | $50,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery | Bank Deposit |
| Regulators | FinCEN, FCA | FCA, Bank of Lithuania |
| Founded | 2011 | 2012 |
Pros and cons
Remitly
Pros
- Express transfers arrive in minutes
- Cash pickup available in many countries
- Mobile money delivery option
- First transfer promotions often available
- Home delivery in select countries
Cons
- Rates less competitive for large transfers
- No multi-currency account
- Focused mainly on remittance corridors
TransferGo
Pros
- Very competitive European corridor rates
- Fast delivery (often same day)
- Simple, clean app experience
Cons
- Fewer destination countries than Wise/Remitly
- No cash pickup option
- Not available in the US
When to choose Remitly vs TransferGo
Choose Remitly if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You want to send to a mobile money wallet (M-Pesa, GCash, etc.)
- You need wider country coverage (100+ vs 70+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Choose TransferGo if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (TransferGo supports up to $50,000)
- TransferGo's strengths (Bank Deposit) match your needs
Verdict: Remitly or TransferGo?
Cost: Too close to call
Remitly and TransferGo are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Remitly typically delivers in Minutes to 3-5 days, while TransferGo takes 30 minutes to 3 days. The actual speed depends on the corridor and delivery method.
Wider coverage: Remitly
Remitly has broader coverage with 100+ countries and 40+ currencies. Remitly also offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery.
Bottom line
Overall, Remitly edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, TransferGo is the better pick if you need fast, small remittances.
Frequently asked questions
Is Remitly or TransferGo cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows Remitly and TransferGo are closely matched on total cost. Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% above mid-market exchange rate markup, while TransferGo charges £0.99 - £2.99 per transfer with a 0.3% - 1.5% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, Remitly or TransferGo?
Remitly typically completes transfers in Minutes to 3-5 days, while TransferGo takes 30 minutes to 3 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are Remitly and TransferGo safe to use?
Yes, both are regulated money transfer services. Remitly is regulated by FinCEN, FCA and has a 4.6/5 Trustpilot rating. TransferGo is regulated by FCA, Bank of Lithuania with a 4.4/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Remitly vs TransferGo?
Remitly has a maximum transfer of $10,000 (minimum $1), while TransferGo allows up to $50,000 (minimum $10). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with Remitly or TransferGo?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. TransferGo offers Bank Deposit. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or TransferGo to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, TransferGo is the better choice if you need fast, small remittances. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.