TranserGo Money Transfer Review

Our TranserGo review is intended to explain the pros and cons of using it for our reader’s money transfer needs. We focus on the important aspects like fees and exchange rates, the quality of the online trading platform, and the level of service provided.

📝 Useful for certain clients, TranserGo is not among our top 10 money transfer companies for August 2021. That doesn’t go out to say TranserGo is not a safe option, but we encourage you to have a look at TranserGo recommended alternatives here.
🏛️ Established2012
🌎 International Clients✓ Internationally, not including North America
💱 Currencies Offered22
💷 Minimum TransferNo set minimum
📲 Trading viaOnline platform and mobile
🏢 Offices InUK, Lithuania, Germany, Poland, Turkey
⚖️ Regulation✓ Financial Conduct Authority (UK)
🤯 FeesNo fee for regular transfers, £0.99 for next day delivery, a custom fee for expedited delivery  + Exchange rate markups
Promotional CodeNone
👨‍👩‍👧‍👦 Client Reviews
More than 10,000 reviews on
⭐ Client Rating96% Positive
🏆 Awards
Most Innovative Business, Danish Chamber of Commerce in Lithuania (2013)
Silver and Bronze Awards, BalticBest Festival of Creativity (2014)
Nominee, Money Transfer Provider of the Year, MoneyAge Awards (2017)
👍 Advantages

6% client approval rating

Same-day money transfers available

Better rates than most remittances providers

Low fixed fees

Positive media attention

👎 Disadvantages

Only trades in 22 currencies

The USA is not available as a sending nation

Free transfers take a while to process (three business days, and common delays)

Margins not as tight as Transferwise’s

View Recommended Alternatives:

Discover TransferGo competitors below. Try our best-recommended companies offering similar services:

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97.8% Editorial rating
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Minimum transfer:
£100 / €100 / $100 or equivalent
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90.4% Editorial rating
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£100 / €100 / $100 or equivalent
Why Them?
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Best for Remittances Below £1,000
EU UK USA Australia Wise (Previously TransferWise): Valued at £10bn
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86.8% Editorial rating
32,000 Client Reviews
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No Minimum
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EU UK USA Australia One of the Hottest Money Transfer Startups
Colm House, 91 Pembroke Rd, Ballsbridge, Dublin, Ireland
86.8% Editorial rating
32,000 Client Reviews
Minimum transfer:
No Minimum
Why Them?
  • Very Low Margins, Down To 0.33%
  • Great Reputation And Client Reactions
  • Regulated By Central Bank Of Ireland
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Our Rating: 72%

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Company Information and Credibility

Company size:

Founded in 2012, Transfergo is an online money transfer service that offers transfers free of charge. They have approximately 42 employees between five offices in the United Kingdom and Europe. They have also attracted $41 million in venture funding, including $17.6 million in Series B funding in 2018.

They are still a startup, with  estimated 2017 revenues of $1.8 million. However, they have gotten positive press from outlets like Techcrunch and Forbes. The latter publication lauded them for offering people “an easy way to send money across borders”, which bodes well for future growth.

Regulated By:

Financial Conduct Authority (UK)


Most Innovative Business, Danish Chamber of Commerce in Lithuania (2013)
Silver and Bronze Awards, BalticBest Festival of Creativity (2014)
MNominee, Money Transfer Provider of the Year, MoneyAge Awards (2017)


While they have only been around for seven years, Transfergo has received glowing praise from clients and press outlets. The opening of offices in Germany, Turkey, and Poland last year makes it apparent Transfergo is a legit money transfer company.

Client Feedback


Transfergo has been reviewed over 10,000 times on Trustpilot, more reviews than industry veterans like Moneycorp, on a prominent independent review site. It has achieved a site rating of 5/5 (Excellent) and a trust score of 9.6/10. Client reviews are uniformly positive – a stunning 97% had a great or excellent experience with Transfergo. Only 3% had an average, poor, or bad experience.


Those satisfied with Transfergo had the following to say:

– They loved the fast transfer option (in as little as 30 minutes)

– It allowed them to send more money home versus the competition

– They appreciated the service’s reliability

– Customer service was excellent



Those dissatisfied with Transfergo had the following to say:

– Transfers took longer than promised

– They didn’t like paying debit card fees

– They resented having to provide personal information


The vast majority of Transfergo clients rave about this service. Repeatedly, they praise this firm for being fast, cheap, and smooth. The rare complaint appears to stem from misunderstandings of Transfergo’s tiered business model. Next/same day transfers costs £0.99 and up, while free transfers take approximately three days to process. Most other issues were external or unforeseen in nature, for which Transfergo was not to blame.


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Exchange Rate & Fees


Free for regular transfers (processed in 3-4 business days), £0.99 for next day transfers, and a custom fee for same-day transfers. The first two options offer massive savings versus the bank, but even same-day delivery charges are competitive with leading money transfer companies. Considering this, you can put TransferGo near the top rated companies like World First, Currencies Direct and TorFX.

Exchange Rates:

They offer the interbank rate on regular transfers (processed in 3-4 business days). Next and same-day transfers are charged up to 2.2% above the interbank rate, dependant on the amount.


Transfergo has no minimum or maximum transfer limits. However, certain amounts require client verification – ID is requested if your first transaction exceeds £900, proof of address for £15,000 or more, and proof of funds when the transfer is  £6,500 or more.


If the receiver can wait 3-4 business days, Transfergo is one of the cheapest ways to send money internationally. Even the next day option is affordable – when sending a significant amount, a rate close to interbank is possible.

Global Reach & Service


  • Dedicated Dealer: No.
  • Offices: UK, Lithuania, Germany, Poland, Turkey
  • Ways to approach: E-mail, telephone
  • Translations: Polish, Lithuanian, Latvian, Russian, Romanian, Ukrainian, Turkish
  • Accepts clients: In 47 countries
  • Currencies Handled: 22
  • Client reviews: 97% positive, 9.6/10 TrustScore per


Despite only being in business for seven years, Transfergo now has offices in five countries. They also send/receive funds from 47 nations and speak eight languages, giving them excellent global reach. There is room for improvement, though – they only have 22 currencies, and they have yet to penetrate the American market.

Additional Functionalities

Remittances make up the bulk of Transfergo’s business, but they also offer B2B cash transfers. Costs are similar to their remittance rates, with no fees and interbank rates offered for regular transfers. Faster transfers cost no more than €3, with an exchange rate margin that doesn’t exceed 2.2%. The larger the transfer, the lower the fee and the better the exchange rate.

They also offer a referral program. It offers £10 for every person who signs up with Transfergo through a provided link. By placing it on their social feeds, customers can make side money promoting this service.


With a business model that moves money between local banks instead of across borders, Transfergo has achieved unprecedented cost savings. Both consumers and businesses have saved considerable sums of money, explaining Transfergo’s high satisfaction ratings.

TransferGo Money Transfer Review
72 of 100 1 review
  • Credibility Score - 79%
  • Client Feedback - 93%
  • Fees, Exchange Rates - 71%
  • Global Reach, Availability, Service - 57%
  • Added Values - 62%

Bottom Line

TransferGo has an interesting promise for a better future for remittances, but it does nothing specifically groundbreaking or ingenious. It has solid rates, like its competitors  Azimo and WorldRemit, has an overall solid website, and in spite of having quite an opaque fee structure in comparison to its competitors is up there among the “good” remittances providers.