Remitly vs TransferGo Comparison

Remitly, established in 2011 and headquartered in Seattle, Washington, specializes in digital remittances, providing a variety of transfer options including bank-to-bank, cash pickup, and door-to-door delivery in select countries.

TransferGo, founded in 2012 with its roots in Lithuania, focuses on providing fast, affordable money transfer services primarily within Europe.

This comparison aims to highlight the key features, benefits, and differences between Remitly and TransferGo, helping customers make informed decisions for their international money transfer needs.

Customers

Company NameRemitlyTransferGo
Logotransfergo new logo
Remitly ReviewTransferGo Review
Customer Rating4.3/54.8/5
# Rating Customers34,681 votes25,217 votes
Top 3 Pros
  • Send bank-to-bank, cash pickup, and door-to-door delivery in some countries
  • Money back guarantee
  • Well-reviewed app
  • 96% client approval rating
  • Same-day money transfers available
  • Low fixed fees
Top 3 Cons
  • Extensive KYC required
  • Not suitable for large transfers
  • No dedicated dealers or hedging functionality
  • Can only send from 8 currencies
  • Free transfers take a while
  • Margins not as tight as competitors

Availability

Company NameRemitlyTransferGo
Logotransfergo new logo
Office LocationsSeattle, Washington (HQ), and others globallyUK, Lithuania, Germany, Poland, Turkey
# Currencies6560+

Security

Company NameRemitlyTransferGo
Logotransfergo new logo
Regulated byFinancial Conduct Authority (UK), FINTRAC (Canada), FinCEN (USA), AUSTRAC (Australia)Financial Conduct Authority, Bank of Lithuania (Europe)
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FAYesYes

Limits and Fees

Company NameRemitlyTransferGo
Logotransfergo new logo
Min TransferNo minimumNo minimum
Max TransferVaries by country and user levelNo maximum, verification required for large amounts
Fixed FeesVaries by country and amountΒ£0 – Β£2.99 depending on speed
See Rates Before You Log In?YesYes

Customer Support

Company NameRemitlyTransferGo
Logotransfergo new logo
Dedicated DealerNoNo
EmailYesYes
PhoneYesYes
Live ChatYesYes
24/7NoNo

Ways to Transfer

Company NameRemitlyTransferGo
Logotransfergo new logo
Online SystemYesYes
Online AppYesYes
Multi-Currency AccountNoNo
Cash PickupYesNo
Card Top-UpNoNo

Additional Functions

Company NameRemitlyTransferGo
Logotransfergo new logo
HedgingNoNo
Mass PaymentsNoYes (for businesses)
Cash ChequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

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

  • Wider variety of transfer methods including bank-to-bank, cash pickup, and even door-to-door delivery in some countries.
  • Money-back guarantee.
  • Awell-reviewed app with a strong set of cultural values.

Remitly is better for users who need flexible delivery options and those sending remittances to countries where cash pickup or door-to-door delivery is preferred. It’s also a strong choice for users who value a highly rated mobile app experience for managing their transfers.

TransferGo is better for users who prioritize speed, with same-day money transfers available, and those looking for low fixed fees. It’s also advantageous for users within Europe, given its strong presence and focus on European corridors.