TransferGo vs Wise: Fees, Rates & Speed Compared
TransferGo
4.4TransferGo specializes in fast, low-cost transfers between Europe and key global corridors. Popular with expats and migrant workers.
Wise
4.3Wise (formerly TransferWise) offers transparent, low-cost international money transfers using the real mid-market exchange rate with no hidden markups.
TransferGo and Wise are both popular choices for international money transfers, but they take different approaches. TransferGo, founded in 2012 and headquartered in London, UK, is best known for fast, small remittances. Wise, operating since 2011 from London, UK, focuses on transparent, low-cost transfers. 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, Wise delivers ₨9124.06 more to the recipient.
In this comparison
Live comparison: TransferGo vs Wise across popular corridors
The table below shows how much the recipient receives when sending through TransferGo vs Wise on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | TransferGo | Wise | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹94,560.47 | N/A |
| GBP → EUR(£1,000) | €1,153.52 | €1,154.47 | Wise (+€0.95) |
| USD → PHP($500) | — | ₱30,256.79 | N/A |
| USD → MXN($1,000) | — | MX$17,089.50 | N/A |
| GBP → PKR(£500) | ₨176,920.00 | ₨186,044.06 | Wise (+₨9124.06) |
| USD → NGN($200) | — | ₦270,524.77 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between TransferGo and Wise
TransferGo vs Wise: Feature comparison
| Feature | TransferGo | Wise |
|---|---|---|
| Overall rating | 4.4/5 (Excellent) | 4.3/5 (Excellent) |
| Fee structure | £0.99 - £2.99 per transfer | Variable fee from 0.41% |
| Exchange rate markup | 0.3% - 1.5% above mid-market | 0% (mid-market rate) |
| Transfer speed | 30 minutes to 3 days | Instant to 2 days |
| Supported countries | 70+ | 80+ |
| Supported currencies | 50+ | 50+ |
| Max transfer | $50,000 | $1,000,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer, Debit Card, Credit Card, Apple Pay |
| Delivery methods | Bank Deposit | Bank Deposit, Wise Account |
| Regulators | FCA, Bank of Lithuania | FCA, FinCEN, ASIC |
| Founded | 2012 | 2011 |
Pros and cons
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
Wise
Pros
- Uses real mid-market exchange rate
- Transparent fee structure shown upfront
- Multi-currency account available
- Fast transfers to many countries
- Regulated in multiple jurisdictions
Cons
- Credit card payments have higher fees
- No cash pickup option
- Transfer limits may apply for new accounts
When to choose TransferGo vs Wise
Choose TransferGo if:
- You want the real mid-market exchange rate with no hidden markup
- Speed is your top priority — transfers can arrive in minutes
- You value user experience — TransferGo is rated 4.4/5 on Trustpilot
- TransferGo's strengths (Bank Deposit) match your needs
Choose Wise if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Wise supports up to $1,000,000)
- You need a multi-currency account to hold and convert balances
- You need a business account for commercial payments
Verdict: TransferGo or Wise?
Cost winner: Wise
Wise wins on cost in 2 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €0.95 more with Wise. Wise achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. TransferGo typically delivers in 30 minutes to 3 days, while Wise takes Instant to 2 days. The actual speed depends on the corridor and delivery method.
Coverage: Comparable reach
Both providers have comparable coverage. TransferGo supports 70+ countries and 50+ currencies, while Wise covers 80+ countries with 50+ currencies.
Bottom line
Overall, Wise 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 TransferGo or Wise cheaper for international transfers?
Based on our data, Wise is generally cheaper across most corridors. Wise charges Variable fee from 0.41% with a 0% (mid-market rate) exchange rate markup, while TransferGo charges £0.99 - £2.99 per transfer with a 0.3% - 1.5% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, Wise delivers €0.95 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, TransferGo or Wise?
TransferGo typically completes transfers in 30 minutes to 3 days, while Wise takes Instant to 2 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 TransferGo and Wise safe to use?
Yes, both are regulated money transfer services. TransferGo is regulated by FCA, Bank of Lithuania and has a 4.4/5 Trustpilot rating. Wise is regulated by FCA, FinCEN, ASIC with a 4.3/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for TransferGo vs Wise?
TransferGo has a maximum transfer of $50,000 (minimum $10), while Wise allows up to $1,000,000 (minimum $1). 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 TransferGo or Wise?
TransferGo offers Bank Deposit. Wise offers Bank Deposit, Wise Account. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use TransferGo or Wise to send money internationally?
For most users, Wise 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 Wise Account.