TransferGo Money Transfer Review: Is This Service Good for Me?

TransferGo is an online option in contrast to Banks for making international money transfer to 39 countries across Europe and the world.

TransferGo is cheap, fast, convenient, and most importantly, trustworthy.

You can pay or transfer funds by making a local bank transfer or by using your debit card, and the money will arrive within one business day to the bank account of your choice.

They’ve helped over 100,000+ customers who send 100 million pounds since 2012, so you can be sure that your money is safe with them.

TransferGo was established in 2012 by 4 intelligent Lithuanian migrants in the UK who were tired of the money transfer cost and frustration of sending money abroad with their bank.

They chose to establish TransferGo and make sending money abroad as easily as possible.

Today the company employs around 100 employees and has raised close to 3 million dollars of investment.

Is TransferGo trustworthy & Reliable?

Well, TransferGo is a licensed Authorized Payment Institution, which means that they’re completely regulated by the Financial Conduct Authority (FCA), and Her Majesty’s Revenues and Customs (HMRC) in the United Kingdom.

They offer institutional quality security for their administration and services and 256-bit SSL encryption their site. Therefore, your details are kept completely safe at all times.

According to FCA guidelines, TransferGo holds client’s cash separate from its own accounts, which means that your money is completely safe.

How Does TransferGo work?

First, create a free account in just a few moments.

At that point, set up your exchange by indicating the amount you need to send and your recipient’s details.

Then, all you need to do is make a local bank transfer to TransferGo’s accounts, or you can pay by using your debit card.

At long last, your cash is headed, and money will be pouring in within one business day.

Pros and Cons of TransferGo?

Pros:

  • TransferGo has absolutely straightforward and transparent fees and exchange rate margins.
  • It is super-fast with guaranteed next business day delivery, and has excellent reviews on Trustpilot .
  • TransferGo has been backed by some world renowned investors, and since 2012, has served over 100’000 customers.

Cons:

  • TransferGo only supports or allowed a limited number of countries.

TransferGo Reviews:

So what do TransferGo’s customers have to say about the service?

TransferGo has excellent reviews on Trustpilot , with over 9,290 customer reviews describing TransferGo as excellent with 5 star positive rating.

TransferGo is even in the top 5 main organizations in Trustpilot’s Money Transfer category.

So let’s see what the reviews have to say.

Most reviews mention the speed of the transfer as the most positive aspect of TransferGo’s service. With ensured next business day conveyance, it’s easy to understand why.

Next, a ton of client’s notice cost as a vital perspective too and feel that they are getting a good deal with TransferGo’s low transfer fees and transparent exchange rate margins.

Moreover, clients feel extremely safe utilizing TransferGo and feel that the service is completely trustworthy, which they appreciate as well.

On the other hand, some customers were annoyed by TransferGo’s ID verification process, which they are required to carry out by law.

Besides, a few clients cash took more than one business day to arrive, but in most cases, this was due to issues with the sending or receiving bank, and not with TransferGo itself.

Overall, clients are incredibly happy with TransferGo and highly recommend using them.

TransferGo Pricing:

TransferGo’s pricing is simple, you will pay a low flat fee, depending on the country and currency you are sending from, generally about £1.

In addition, TransferGo charges a transparent exchange rate margin of between 0.4% and 1.5%.

The conversion rate will be secured in advance, so that you know exactly how much money will arrive.

At last, since TransferGo uses local accounts to gather and dispense reserves funds, you won’t pay any other fees.

You should now have all the data you need to begin with sending cash anywhere with TransferGo.

TransferGo Account Step by Step Guide:

Step# 1: _Create Transfer Go Account

Go to transferGo’s home page , once you’re ready click on the green get started button, the first thing you have to do is enter your email address, then click on the blue create a personal account, you’ll have to verify your email address by clicking on the link in the email which transferGo just sent to you.

This will bring you back to transferGo website where you can set a password for your account then click on the finish registration button. Congratulations! you now have a transferGo account.

Now, let’s send some cash to your family, friends, or clients.

Just press the green send money button to get started with your money transfer, you’ll have to select which country you’re sending from how much money you want to send and in which country the money would be received.

In the transfer summary box at the right, you’ll be able to see the conversion rate and how much money your beneficiary will receive in the receiving currency and importantly, how much you’ll save by using transferGo instead of a bank and when the money would arrive.

If everything goes fine, press the blue continue button, you’ll then need to mention to whom you are sending money, this is as simple as entering the name and bank account number of the person to whom money is being sent.

You can also supply a reference for the payment and can choose to give your beneficiary’s email address so that they’re notified as soon as your money’s on its way,

Then click on the blue continue button, you’ll then need to provide some information to transferGo about yourself and this will include your full name, date of birth, nationality, phone number and your complete home address. Double check that you provide the right information as you’ll have to verify your identity.

In the further step, press the green button to confirm details.

Once you’re done finally you’ll need to supply an ID document this is to make sure that transferGO knows who you are, select the type of ID document this can be an ID card a passport or a driving license.

When you’ve chosen the file, click on the blue upload & continue button on the right side.

Finally, you’ll need to make the transfer.

You can do this either through a local bank transfer or utilizing a debit card.

If you choose to make a local bank transfer don’t forget to enter the reference number on your transfer otherwise your transfer would be late.

Once you completed the process with your local bank transfer or with a debit card, click on the blue I’ve done a transaction button and voila! your money is on its way congratulations!

Thank you for reading the whole article, we hope you found it useful.

For me visit TransferGo

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