According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 64 countries
- Individual
Currencies:
- Most currencies
cryptocurrencies:
- Yes
Our Evaluation of TransferGo
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Brief Look at TransferGo
The money transfer service was launched in 2012, and at the time, it was working with 30 of the world’s largest banks. Today, ten years later, the platform works with nearly all major banks in 64 countries, including the United States, Australia, Europe, Asia, and Africa. This is a universal system that allows you to make personal transfers to individuals as well as deal with corporate financial matters (for example, to settle accounts with foreign partners). The integrated TransferGo currency converter uses the current market rate, allowing you to instantly convert one currency to another. At the same time, the service charges fairly low fees when compared with its competitors. The payment transfer fee ranges from 0 to 0.99 euros, depending on the country of the sender and recipient. The conversion fee varies from 0 to 2.2%. You can request a fast transfer with a transfer time of fewer than 30 minutes, but the fee will be higher.
- TransferGo money transfer service works with most currencies and banks of many developed countries;
- Fees are lower than the market average, and some types of transfers have no fees.
- Most transfers are made within the same day, but it is possible to request a fast transfer so that the money comes in half an hour;
- Because the service is available 24 hours a day, including weekends and holidays, you can make a transfer at any time of day.
- There are no "pitfalls" or hidden fees, and the work of the TransferGo money transfer service is 100% transparent;
- The currency is converted at the market rate, and TransferGo converts the funds when transferring with a zero fee;
- The service has a mobile app for iOS and Android devices.
- Although the platform is active in 64 countries, services and transfers are not available in some regions, and there are no transfers in some countries, though payments are accepted.
- There is no call center, so communication with tech support is done via email or chat in the app, which isn’t always convenient.
- A standard transfer takes one day, but a transfer with currency conversion at the TransferGo exchange rate can take up to three days or more in some countries.
TU Expert Advice
Author, Financial Expert at Traders Union
TransferGo provides money transfer services in 64 countries, operating with most global currencies and offering both personal and business account types. Users can benefit from multi-currency accounts, allowing quick conversions at current market rates with low fees; transfers can take up to 30 minutes for a slightly higher fee. The platform is accessible via a free mobile app and operates without a subscription fee, focusing on providing clear and favorable conditions for international money transfers and currency conversions.
However, there are some drawbacks such as limited regional availability and the absence of a call center, as client support is primarily provided via email or live chat. These factors may not suit users who prefer more extensive client service options or need access to all global markets. Overall, TransferGo seems suitable for individuals and businesses looking for efficient and cost-effective money transfer solutions.
TransferGo Summary
Via TransferGo's secure website. Your capital is at risk.
| 💼 Main types of accounts: | Personal and Business |
|---|---|
| 💱 Multi-currency account: | Most currencies |
| Deposit terms and conditions: | Card, electronic wallet |
| Loan terms and conditions: | Bank cards and accounts, electronic wallets |
| ☂ Deposit insurance: | 0-0.99 euros transfer fee, and 0-2.2% conversion fee |
| 👛️ Savings options: | Automatic, optional, at the current market rate |
| Types of payment: | No |
| ➕ Additional features: | Account for corporate clients, referral program, 8 languages |
This TU review of TransferGo emphasizes the service’s versatility. It allows you to send funds in most currencies with automatic conversion at the current market rate. In many cases, the fee is either zero or close to zero. Under regular conditions, the maximum transfer fee is 0.99 euros. If the client requires a fast transfer (within 30 minutes), the fee will be set at 2.99 euros.
The transferred funds don’t need to be converted. If you activate this function, the conversion will be carried out at the time of transfer (not at the time of receipt). TransferGo’s integrated currency conversion feature significantly simplifies the transfer process and relieves the client of extra actions.
It should be noted that the TransferGo website and app are both free to use. A new client doesn’t need to pay a one-time or subscription fee. The only types of expenses are transfer and conversion fees. However, other services that participate in the transfer process, such as electronic wallets, may charge additional fees. TransferGo is not liable for the actions of third parties. You can be 100% confident in the company because it follows UK financial legislation and is regulated by the FCA.
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TransferGo Commissions & Fees
A review of TransferGo and a comparison with its competitors revealed an important benefit of this service: it has one of the most simple and transparent fee structures. For many platforms, the fee depends on various factors, including the amount of the transfer, the specific currency, the sender's or receiver’s country of residence, and the bank. As for TransferGo, everything is simple. There are two types of fees charged for transfer and conversion (the latter is optional).
The conversion fee ranges from 0 to 2.2%. It depends only on the currencies involved in the conversion and nothing else. The standard transfer fee can also be zero, while the maximum standard fee is 0.99 euros. It all depends on the currency and the amount of the transfer. Moreover, the user doesn’t need to calculate anything; the system will automatically calculate and indicate the fee amount before the transfer. If you require a fast transfer that will be received by the recipient within 30 minutes, the fee is always fixed at 2.99 euros.
Given the market exchange rate, converting funds through the service is very profitable. Moreover, it is convenient, since you only need to activate the relevant option before the transfer, and the funds will come to the recipient in the selected currency. There are no "pitfalls" or hidden fees, and the service’s operation is completely transparent, with no complaints about convenience, functionality, or legality.
The TransferGo money transfer service completely fulfills the purpose for which it was developed. It has been in operation for ten years and allows for quick transfers between most banks worldwide. Transfers take up to a day and, in some cases, up to three days. A fast transfer in half an hour has a fixed fee of 2.99 euros. Given that some transfer types have no fee and the rest of the non-urgent transfers have a fee of up to 0.99 euros, TransferGo has one of the most favorable financial policies for the client.
The Traders Union also compared Paysend’s fees with similar types of fees on other e-payment systems.
| PayPal | Remitly | TransferGo | |
| Payment commission | $0.49 | $2.99 | €0.99 |
| Deposit commission | No fee | No fee | No fee |
| Withdrawal commission | 1.5% | $2.99 + 0.5% of the amount for Economy or 1.5% of the amount for the Express option | 0-0.99 euros |
| Commission for international transfers | Depend on the transaction type and region | Depends on the transaction type and region | Depends on the transaction type and region |
The built-in TransferGo currency converter allows you to exchange one currency for another during the transfer at transparent rates. Moreover, the exchange is carried out at the current market rate. The conversion fee range is from 0 to 2.2%. Clients of the service benefit from responsive tech support (live chat), guaranteed work stability, and the ability to send and receive funds to and from 64 countries. Socially active users can earn one-time bonuses for inviting new clients, as well as through the referral program. Experts have no complaints about TransferGo.
Investment Options
The TransferGo money transfer service doesn’t offer investment solutions. After all, its users have the opportunity to increase their capital. The first option is to use a unique invitation code. It is provided to each new client. The code can be sent to friends via messengers or posted on social media platforms. Anyone who signs up using an invitation code will bring 22 euros to the code owner. However, the invited user must make at least one transfer.
The second option is to participate in the referral program. To do this, you need to register in a special section of the service. TransferGo will provide ready-made promotional materials for publishing on blogs, forums, etc. Users who sign up for the service by clicking on the link in the promotion will bring its owner a one-time bonus. The amount of each payment is determined individually, and the service withholds a fee. With the increase in the volume of payments, the fee also increases.
The referral program member receives detailed statistics on all promotional materials that they post on the internet. The advantage of registering through the promotion is that you will receive discounts on international transfer fees.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 2012 |
|---|---|
| Regulation | FCA UK |
Comparison of TransferGo with other e-payment systems
| TransferGo | Volet.com | Payeer | Skrill | Paysend | Stripe | |
| Supported Countries | 64 countries | 150 countries | 127 countries | 200 countries | 170 countries | 48 |
| Supported Currencies | Most currencies | 9 currencies (USD, EUR, GBP, RUB, BRL, TRY, UAH, KZT, VND) | 3 fiat currencies (USD, EUR, and RUB) and most cryptocurrencies | 40 currencies | Most currencies | 135 |
| Support for cryptocurrencies | Yes | Yes | Yes | Yes (deposit) | No | No |
| Subscription fee | Individual | No, only transaction fees | No, transaction fees only | No, only transaction fees | No | 2.9% + 30 cents per account |
| Payment acceptance equipment | 0-0.99 euros | No, only software | No, online only | No, only online | EUR 1.5, GBP 1, USD 2 or CAD 3 | No, just the software |
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