TransferGo vs Remitly: 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.
Remitly
4.5Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
TransferGo and Remitly 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. Remitly, operating since 2011 from Seattle, USA, focuses on cash pickup and global coverage. 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 £1,000 GBP → EUR transfer, Remitly delivers €5.44 more to the recipient.
In this comparison
Live comparison: TransferGo vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through TransferGo vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | TransferGo | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹93,969.24 | N/A |
| GBP → EUR(£1,000) | €1,147.73 | €1,153.17 | Remitly (+€5.44) |
| USD → PHP($500) | — | ₱29,896.01 | N/A |
| USD → MXN($1,000) | — | MX$18,269.79 | N/A |
| GBP → PKR(£500) | — | ₨188,078.26 | N/A |
| USD → NGN($200) | — | ₦280,897.92 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between TransferGo and Remitly
TransferGo vs Remitly: Feature comparison
| Feature | TransferGo | Remitly |
|---|---|---|
| Overall rating | 4.4/5 (Excellent) | 4.5/5 (Excellent) |
| Fee structure | £0.99 - £2.99 per transfer | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.3% - 1.5% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | 30 minutes to 3 days | Minutes to 3-5 days |
| Supported countries | 70+ | 100+ |
| Supported currencies | 50+ | 40+ |
| Max transfer | $50,000 | $10,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | FCA, Bank of Lithuania | FinCEN, FCA |
| 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
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
When to choose TransferGo vs Remitly
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
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)
Verdict: TransferGo or Remitly?
Cost winner: Remitly
Remitly wins on cost in 1 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €5.44 more with Remitly. Remitly 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 Remitly takes Minutes to 3-5 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 TransferGo or Remitly cheaper for international transfers?
Based on our data, Remitly is generally cheaper across most corridors. 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. For example, on a £1,000 GBP → EUR transfer, Remitly delivers €5.44 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, TransferGo or Remitly?
TransferGo typically completes transfers in 30 minutes to 3 days, while Remitly takes Minutes to 3-5 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 Remitly 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. Remitly is regulated by FinCEN, FCA with a 4.5/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for TransferGo vs Remitly?
TransferGo has a maximum transfer of $50,000 (minimum $10), while Remitly allows up to $10,000 (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 Remitly?
TransferGo offers Bank Deposit. Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Remitly supports cash pickup for recipients without bank access.
Should I use TransferGo or Remitly 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.