Moneycorp vs TransferGo Comparison

Moneycorp, established in 1979, has built a reputation as a veteran in the field, providing a wide array of sophisticated foreign exchange services and solutions to both individual and corporate clients. With a strong focus on transparency and customer service, Moneycorp has traded over Β£73bn in 2022, showcasing its significant impact on the market.

On the other hand, TransferGo, founded in 2012, has quickly distinguished itself with its fast and affordable transfer services. Catering primarily to migrants and businesses in Europe, TransferGo emphasizes speed, with options for same-day transfers, and has served over 2.5 million customers to date.

Both companies have garnered positive customer feedback and are considered reliable options for international money transfers.

Customers

Company NameMoneycorpTransferGo
Logo
transfergo new logo
Moneycorp ReviewTransferGo Review
Customer Rating4.4/54.7/5
# Rating Customers5458 votes25,217 votes
Top 3 Pros
  • Operating since 1979
  • More than Β£73bn Traded in 2022
  • Very Transparent
  • 96% client approval rating
  • Same-day money transfers available
  • Low fixed fees
Top 3 Cons
  • Negative Reviews for Mobile App
  • “Oldschool” Feel
  • Fees for phone transfers
  • Can only send from 8 currencies
  • Free transfers take a while to process
  • Margins not as tight as other competitors

Availability

Company NameMoneycorpTransferGo
Logo
transfergo new logo
Office LocationsUK, USA, France, Spain, Ireland, Hong Kong, Australia, Brazil, Gibraltar, UAE, RomaniaUK, Lithuania, Germany, Poland, Turkey
# Currencies120+60+

Security

Company NameMoneycorpTransferGo
Logo
transfergo new logo
Regulated byFCA, FinTRAC, ASICFCA, Bank of Lithuania
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FANoNo

Limits and Fees

Company NameMoneycorpTransferGo
Logo
transfergo new logo
Min TransferΒ£50No minimum
Max TransferNo limitNo limit
Fixed FeesNoΒ£0 – Β£2.99
See rates before you log in?YesYes

Customer Support

Company NameMoneycorpTransferGo
Logo
transfergo new logo
Dedicated DealerYesNo
EmailYesYes
PhoneYesYes
Live ChatNoNo
24/7NoNo

Ways to Transfer

Company NameMoneycorpTransferGo
Logo
transfergo new logo
Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesNo
Cash PickupNoNo
Card Top-UpNoNo

Additional Functions

Company NameMoneycorpTransferGo
Logo
transfergo new logo
HedgingYesNo
Mass PaymentsYesYes (for businesses)
Cash ChequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

On MoneyTransferComparison, Moneycorp has received a higher editorial score. The advantages of Moneycorp over TransferGo are these:

  • A longer history in the industry with operations since 1979.
  • A broader range of services including sophisticated payment solutions like mass payments and delayed payments.
  • A higher degree of transparency, sharing annual reports despite being a private company.

Moneycorp is better for larger transactions and businesses looking for a wide range of hedging tools and personalized service.

TransferGo is better for individuals and businesses prioritizing speed, with same-day transfers available, and those looking for lower fixed fees for smaller amounts.