Everything you need to know about TransferGoBelow you will find useful information that will allow you to compare TransferGo with other international money transfer companies allowing you to make an informed judgement.
Transparent of all of fees/costs
TransferGo Table of Contents
- TransferGO Pros and Cons
- Is TransferGo the Best Money Transfer Service for you?
- What are TransferGo Fees and Exchange Rates?
- What is the Transfer Process and How to Sign Up for TransferGo?
- TransferGo Reviews including the Good and the Bad
- Is TransferGo Really That Fast?
- Is it Safe and Secure to Use TransferGo Transfer Service?
- Why Should You Use the TransferGo Mobile App
TransferGo Pros and Cons
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Is TransferGo the Best Money Transfer Service for you?TransferGo is a reliable money transfer provider, innovative cash transfer service for UK and European citizens and companies. Some transfers attract charges that are 90% cheaper than other providers and you can pay a little extra for “express” transfers that can be as fast as 30 minutes. The truth is that sending money through TransferGo may well be your best choice in some circumstances. What about transfer speeds? For example, a 30-minute transfer could be a good reason for many of you to use TransferGo. This company may be your solution if speed is what you’re after when sending or receiving transferred money. As far as currency exchange fees and hidden costs are concerned, we discovered that it very much depends on the quantity you send and which nations you are sending money from and to. With regard to customer service, reviews are mainly good from customers although no service, however good is perfect. TransferGo has some of the industry’s highest rankings when it comes down to sending money abroad– 9.5 on TrustPilot.
What are TransferGo Fees and Exchange rates?As with all money transfer companies, there can be lots of marketing like “fee free”, but when all said and done it boils down to what you end up paying for the service end to end eg the actual“foreign exchange rates” that apply and “hidden fees” which we cover in a moment.
- The Minimum Transfer Fee
- The TransferGo Exchange Rate
Here are a couple of examples:1. Send money from UK to India
- From £0 to £1,000, exchange rate margin is 0.75%
- Above £1,000, exchange rate margin is 0.40%
What is the Transfer Process and How To Sign Up For TransferGo?EASY. Just enter a valid email address and password for registration. If your initial transfer is less than £ 900.00, you can complete your first transfer without verification of identity. You’ll need to complete the identity verification process if your first transfer is over £ 900.00 or the equivalent in another currency. In order to create a second transfer, you will also need to finish this step, regardless of the quantity. Verification is a normal practice called KYC (Know Your Customer) and involves taking a photograph of a valid identity form along with a selfie showing your face obviously. TransferGo is generally very quick at these online verifications, but if they don’t have what they need, delays can be expected.
TransferGo Reviews Including the Good and the BadIf we could tell you what’s the best thing about TransferGo service, it would be their impressive customer service. From over 11323 reviews, TransferGo has a 9.5 score on Trustpilot. Approximately 1% of their reviews, however, have only one star and another 1% have two stars. It’s these adverse reviews that we can ascertain if there are any particular issues with TransferGo’s business operation. 1. About verification A small number of customers were not expecting to have to go through the process of verifying their identity after having done their first transfer of 900 GBP or above. 2. The Speed of the funds arrival While speed is one of the greatest elements of TransferGo, there are other banks engaged like all money transfer businesses and some individuals discover that the reality is not the same as the expectations as it may take time for funds to clear banks despite the best efforts of TransferGo. Having said that, if you compare TransferGo with other providers, in most instances it’s very hard to beat TransferGo when it comes to speed.
Is It TransferGo Really That Fast?TransferGo claims to give 30 min transfers on their homepage, therefore, is this really true and what about their “free” service? They tell us the option “Now” or 30-minute transfers can deliver transferred money to 32 nations in 8 currencies in 30 minutes (which is mostly UK and Europe). That’s great, but here are a few things you should know about the 30 minute transfers;
- The maximum amount is £2,000 (or other monetary equivalent
- Pay-in can be done only by customers with credit/debit card or apple device users. Due to their faster payment system, bank deposit is only accessible in the UK.
- Before choosing a fast delivery option, the customer must check their ID. Customers must only provide their ID on the second transfer for other shipping alternatives or if their first transfer exceeds or equals £900 (or the equivalent in other currency).
- 30 minute transfers do not apply at weekends. Instead, the service is available from 9:30 a.m. until 3:30 p.m. Monday to Friday.
Is It Safe And Secure To Use TransferGo Transfer Service?It can be worrisome to send the money to a third party, even if their business model depends on them to do it safely and securely. When your money gets to TransferGo, regulations around transfer method and laws make them to keep your money in separate accounts. This implies that you were to send money with TransferGo and they suddenly experienced a business collapse, your cash will ring fenced from TransferGo and should be returned. They use SSL (Secure Socket Layer) at a technical level, which implies your data is encrypted between your server and your browser. TransferGo is regulated by the FCA (Financial Conduct Authority), the UK’s financial regulator.
Why Should You Use the TransferGo Mobile App?It took a long time to send money internationally earlier. But with the advent of TransferGo, you don’t have to wait anymore. You can now send money to international clients and customers within 30 minutes. TransferGo, with its brand-new app, allows you to transfer money on the go. Their digital account-to-account business model has changed the face of the international money transfer system. Here are a few more reasons why the app is useful for everyone.
1. Send money fastThe TransferGo app allows you to send money in seconds. All you need to do is add your recipient’s details, confirm the amount you want to transfer, and hit send. The recipient will receive the money in just 30 minutes. It only takes a few taps on your mobile to send money internationally.
2. Transparent processTransferGo doesn’t believe in shady transactions. Therefore, they don’t have any hidden costs or fees. You can see the total amount from the app’s dashboard. Plus, there are no risks when it comes to currency fluctuations. The entire transaction process is easy to follow. All you have to do is add your recipient’s detail, select the currency, and transfer money in seconds.
3. Safe and secureMost people think that sending money internationally involves a lot of cyber risks. Please note that HMRC and the Financial Conduct Authority regulate the operations of TransferGo. You don’t have to worry about safety and security because both the site and the app use top-notch malware protectors to keep your account safe. The app has excellent ratings on TrustPilot. It is available both on iOS and Android platforms. The transaction fee is lower than 90% than banks. If you want to send money to international clients, you know what to do. Register on the TransferGo app, link your bank account and start transferring money right away.
Last Words On The TransferGo Money Transfer Services.TransferGo is a reliable, cost-effective transfer service to consider when sending and receiving money overseas with excellent customer service. While presently focusing on UK and European citizens, TransferGo websites covering desktop and simple mobile payments mean this international money transfer provider is a worthy contender in the universe of global currency transactions.
Here are some details about this company:
- Name: TransferGo LTD (company number 07914165)
- Launched: May, 2013
- Registered: England & Wales
- Address: Level 42, One Canada Square, Canary Wharf, E14 5AB,
- London, United Kingdom
- Regulation: Financial Conduct Authority