TransferGo

TransferGo: international payments for individuals and businesses

TransferGo is a digital financial services platform focused on moving money across borders. Its offering combines international remittances with a multi-currency account and a spending card, all managed from a mobile app. The company states that more than nine million people use its services to "make their money go further".

Sending money to over 160 countries

The main service allows international transfers to over 160 countries. The company presents these transfers as fast, secure and with no hidden fees, with exchange rates that users can check before making a transaction. The platform supports sending from multiple currencies, including EUR, USD, GBP, PLN, CZK, DKK, HUF, ISK, NOK, RON, SEK, TRY and UAH, and receiving in a wide range of currencies covering destinations in Europe, the Americas, Asia, Africa and Oceania.

The site includes a currency converter and a transfer calculator that shows the exchange rate applied and the corresponding fee. According to the information on the site itself, some transactions can be completed in minutes.

Multi-currency account and money management

TransferGo's multi-currency account lets you hold and exchange different currencies in one place, track transfer status and manage your account from the app. This service is aimed at those who need to manage income or payments in more than one currency without relying on multiple providers.

GoCard: virtual and physical card

The GoCard is the spending tool linked to the account. It comes in two formats:

• Virtual GoCard: free and available from the moment you sign up. It is used for online shopping, contactless ATM withdrawals, in-app payments and tap-to-pay from your phone.
• Physical GoCard: has a one-off fee of £4.99 covering manufacturing and delivery. It is designed for situations where a physical card is required, such as cash withdrawals at ATMs where contactless isn't supported, shops without tap-to-pay, or services like car rental.

The GoCard is compatible with Apple Pay, allowing you to pay in stores, in apps and online without needing to carry the physical card. As for ATM withdrawals, the site states the following conditions: in the UK and the European Economic Area, £500 free per month (up to three withdrawals), then a 1.5% fee (minimum £1); in the rest of the world, £200 free per month (up to three withdrawals), then 3% (minimum £1).

TransferGo Business

For businesses, TransferGo offers a specific platform called TransferGo Business, aimed at international payments. It includes a business account, batch payments, a business savings account and its own fee structure. The company presents this solution as a way to reduce the cost of each international transaction and expand companies' global reach.

How it works and scope

The service is built around a mobile app from which users can send, receive, exchange and manage money. The platform supports transactions to and from a wide list of countries and currencies, and includes tools such as the currency converter and the transfer calculator. The site also mentions that the company is working on new plans and features that will be added soon.