🌍 What is Transfergo
Transfergo is fully transparent provider of money transfers, making it easy for customers to view the fees and exchange rates associated with their transfers in detail. Not only that, TransferGo is also simple to navigate and its customer service is fast and easy to access, making it a favorite for many customers. We at Aiovel love TransferGo because they continually offer the best prices on international money transfers, and especially to Europe. They have many different payment and payout options available.
🤝 How does Transfergo Works?
TransferGo makes sending money to friends and family abroad both fast and easy. Customers can transfer funds from a bank account or debit card to the recipient's bank account from over 30 countries to over 45 countries with low flat fees and transparent exchange rates. Plus, TransferGo offers flexible transfer options, with standard transfers arriving within one business day, depending on the country to which you're sending money. For those in a hurry, you can pay more and get your money in as little as 30 minutes; and for an even more affordable option, you can pay zero fees for a slower transfer, taking up to three business days.
🎯 Who is TransferGo best for?
TransferGo is perfect for individuals who desire to make clear money transfers quickly and effortlessly from Europe and Turkey to different nations globally. This provider promotes its transparency and provides users multiple choices when conducting a transfer. As an extra, TransferGo concluded a deal with Mastercard and Visa in 2020, allowing customers in 20 European countries to make international money payments from any card or bank account right to a Mastercard, making it a desirable option for many younger users.
🔐 TransferGo Safety and Security
The Financial Conduct Authority (FCA) requires that all TransferGo clients' funds are held in segregated accounts, ensuring all money is kept secure and separate from the company's own business accounts. In the event of any financial troubles, your funds remain safe. Additionally, TransferGo has raised close to US$41 million dollars from investors, industry veterans, and crowdfunding campaigns, guaranteeing a well-funded and secure company.The dedicated team of customer service representatives is available to answer questions and provide assistance whenever it is needed.
💵 TransferGo Fees
TransferGo has overall good fees and exchange rates: though the cheapest on relevant searches only 14% of the time over the past three months, TransferGo provides competitive rates in a very respectable 70% of cases.
TransferGo converts funds using the prevailing mid-market exchange rates, minus a margin of 0% to 2.2%. The exchange rate is locked in advance so that you know exactly how much money will arrive. Transfer costs depend heavily on the countries you are sending money from and to, and can generally be broken down into the following three types:
- Free (and cheap): If speed is not an issue, standard transfers to Ukraine, Turkey, Poland, and India are completely free, with transfers to other countries being low-cost.
- Standard: For standard transfers (which guarantees next day delivery in most countries), TransferGo charges a flat fee of 0.99 EUR / 0.99 GBP / 10 SEK / 20 DKK / 20 NOK / 500 HUF / 9 PLN / 9 RON, depending on which currency you’re sending your money from, with the exchange rate margin falling between 0% and 2.2%.
- Now/today: For time-sensitive transfers, go for this option. TransferGo Now means recipients will receive money in as little as 30 minutes after the transfer is made. TransferGo Today a same-day delivery option and guarantees money delivery by 5.30 pm (GMT) on the same day a booking is made (the transfer must be made by 12:30 pm GMT). The flat fee depends on the amount your sending, but the exchange rate margin is guaranteed to be 0% to 2.2%.
TransferGo has overall great fees and exchange rates, providing competitive rates in a very respectable 70% of cases, even if it is not the cheapest on relevant searches. With TransferGo, you can rest assured that the exchange rate is locked in advance for you to know exactly how much money will arrive.
🪄 How to make a money transfer with TransferGo?
TransferGo is an easy and convenient way to send money abroad. Learn how to get started with TransferGo with this simple guide.
Open a TransferGo Account
To set up your TransferGo account, you'll need to provide some basic information such as your full name, email address, mobile phone number, date of birth, nationality, and physical address.
Set Up Your Transfer
Once you're signed up, you can enter the countries you are sending money to and from, as well as the amount. You can also choose to make your transfer faster with an additional fee.
Verify Your Identity
If more than £900 (or the equivalent amount in another currency) is being sent in your first transfer, you'll need to verify your identity by scanning and submitting valid forms of photo identification such as a passport, a national ID card, a residence permit, or a driver's license for UK residents. Remember that you will need to verify your identity on your second transfer even if the amount sent is under £900.
Add Your Beneficiary
After verifying your identity, you'll need to enter the details of the beneficiary such as their full name, country of residence, and their bank details or other details of receipt.
Review and Pay
Before completing the transfer, you'll be able to review all the information such as the exchange rate and expected delivery time. If everything is correct, you can then click through to the 'Pay In' tab and pay for your transfer using the payment method of your choice.
✍️ Transfergo Overview Summary
With a yearly transfer of £1.4 billion for 5 million customers, TransferGo is a secure and reliable money transfer provider. Confirmed by the Financial Conduct Authority and Her Majesty's Revenue and Customs in the UK, this authorized payment institution employs top-notch security measures, such as 256-bit SSL encryption with a 2048-bit signature. TransferGo is situated in London, and it boasts over 300 staff members in offices in the UK, Lithuania, Germany, Poland, and Turkey. According to Glassdoor, their employees rate the company 4.7 stars, praising its professional environment, motivated personnel and devoted managers focused on delivering an excellent product and aiding customers.
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