TransferGo Review: Affordable, Fast, and Secure International Money Transfers

TransferGo is a standout choice for international money transfers, known for its cost-effectiveness and user-friendly approach. This review delves into the key aspects of TransferGo, from its safety features and global availability to the efficiency of its transfer services and customer support.

What is TransferGo?

TransferGo is an innovative money transfer service that specializes in delivering affordable and efficient international transfers. Established in 2012, the company has rapidly expanded, serving customers in 47 countries and dealing with 22 currencies. TransferGo operates on a straightforward digital account-to-account model, catering to both personal and business needs.

Key Points:

• Global Reach: Available in over 50 countries, TransferGo supports sending money to more than 160 countries worldwide.
• Offices: The company has a strong European presence with offices in cities like London, Berlin, Vilnius, Istanbul, and Warsaw.

Is TransferGo Safe?

TransferGo places a high priority on security, employing advanced encryption technologies to protect user data. The company is regulated by the UK’s Financial Conduct Authority (FCA) and supervised by Her Majesty’s Revenue and Customs (HMRC), ensuring it adheres to strict security standards akin to those of commercial banks.

Security Features Include:

• Encryption Technology: To safeguard personal and transaction data.
• Regulatory Compliance: Adheres to FCA and HMRC regulations.

Where Is TransferGo Available?

TransferGo’s extensive network allows users to send money from various countries across the globe, making it a versatile option for international transactions.

Sending Money From:

• European Countries: Austria, Belgium, France, Germany, Greece, Italy, Spain, and many more.
• Global Presence: Includes countries like Turkey, the UK, and Switzerland.

Receiving Money In:

• Major Markets: Australia, Canada, the USA, the UK, and across Europe.
• Additional Regions: Includes places like South Africa, Brazil, and India.

How TransferGo Works

TransferGo simplifies international transfers with its intuitive platform. Here’s a step-by-step guide on how to use the service:

Steps to Transfer Money:

1. Create an Account: Sign up on the TransferGo website or app. You can use your Facebook or Google account for a quicker setup.
2. Verify Your Identity: Upload identification documents and a selfie if transferring amounts equal to or exceeding GBP 900.
3. Enter Transfer Details: Input the recipient’s country and transfer amount.
4. Choose Transfer Speed: Select between standard (usually one business day) or express (30 minutes) options.
5. Complete Payment: Choose your payment method (bank transfer, debit/credit card) and confirm the transaction.

TransferGo Payment Methods

TransferGo provides several payment methods to accommodate various preferences:

• Local Bank Transfer
• Debit or Credit Card
• Google Pay
• Apple Pay

Note: Card payments are limited to amounts under £2,500, and faster payments are typically restricted to the UK.

TransferGo Fees, Exchange Rates, and Hidden Costs

TransferGo offers a transparent fee structure, generally lower than traditional banks and other services. Here’s what you need to know:

Fees:

• Transfer Fee: A nominal fee based on the destination country, amount, and payment method.
• Exchange Rates: Competitive rates, often better than banks.

Delivery Time and Fees:

• Standard Delivery: Funds typically delivered by the next business day. Fees range from £0 to £0.99 plus 0-2.2%.
• Express Delivery: Can be as quick as 30 minutes. Fees range from 0-2.2%.

How Fast Are TransferGo’s Transfers?

TransferGo offers various delivery options to suit different needs:

• Standard Delivery: Usually completed by the next business day.
• Express Delivery: Transfers completed within 30 minutes for eligible transactions.

Important Note: Delivery times may be extended by up to one business day for certain countries.

TransferGo 30-Minute Transfer Service

For urgent transactions, TransferGo’s “30 Minute Service” allows funds to be transferred in as little as 30 minutes. This service is ideal for time-sensitive needs, though it comes with fees ranging from 0 to 2.2% of the transfer amount.

Maximizing Your Transfers with TransferGo

When choosing your transfer method, consider the following:

• Card Payments: Convenient but often come with higher fees and less favorable exchange rates.
• Bank Transfers: Typically more cost-effective, especially for larger amounts.

TransferGo’s pricing structure is designed to provide clarity, with options labeled as “Recommended” or “Best Value” to guide your decision.

TransferGo Safety & Security

To ensure the safety of your transfers, TransferGo may request additional documentation:

• ID Verification: Required for larger amounts or specific countries.
• Proof of Address: May be needed for substantial transfers or annual verification.
• Proof of Funds: Occasionally required for large transactions.

TransferGo securely stores all documents in a private data center with strict access controls.

TransferGo Mobile App

The TransferGo app, available for iOS and Android, enhances the convenience of managing transfers on the go. Users can easily send money, track transactions, and handle account settings from their smartphones.

TransferGo Company and Address

TransferGo is headquartered in London, UK. The official address is:

TransferGo Ltd
WeWork, 1 St Katharine’s Way
London, E1W 1UN
United Kingdom

TransferGo Customer Support

TransferGo provides robust customer support through email and live chat. The support team is available to assist with inquiries and resolve any issues.