TransferGo money transfer review & guide

Q: What does TransferGo do?

The transfers provided by TransferGo are for both personal and business needs. Their mission is to offer quick and easy money transfers at a good value.

Q: Is using TransferGo expensive?

The prices the company charges are competitive and you can choose options that make your transfers cheaper. Their rates vary according to how long you can wait for the transfer to go through. If you are able to wait, you get a better deal.

Q: I have a business, can TransferGo work for me?

Yes. TransferGo even offers special rates if you send money as a business.

Q: Why does TransferGo ask for additional documents for verification?

In order to comply with regulations, and keep the service safe, you'll sometimes have to provide TransferGo with documents. These documents include ID, proof of address, and proof of funds. Proof of funds is usually only required if you are transferring large amounts. In the case of ID and proof of address you can upload it easily on their site or app. You’ll only need to do this once.

Q: Can I cancel a TransferGo transfer?

You can cancel a transfer except in the following situations: TransferGo has already received your payment, or The credit or debit card you used was declined. In these cases you need to contact TransferGo. If you have not completed a transfer, it will expire automatically.

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

Trademark Disclaimer: TransferGo* with whom RemitBee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Everything you need to know

TransferGo review

If you want to send an international money transfer, TransferGo could be a great alternative to your bank. The company was founded in 2012 and allowed senders to send money transfers worldwide. TransferGo is available in about 30 sending countries and 45 receiving countries. It has become popular due to its quick, secure, and low-cost transfers. Customers also love the flexibility that the service offers. If you are looking at your money transfer options, here’s a review of TransferGo Money Transfer.

Payment Methods Available with TransferGo

TransferGo offers several payment methods for sending money internationally, each with its own features and limitations

Credit Card Transfers

Debit Card Transfers

Bank Transfers

How long does a transfer usually take with TransferGo?

The transfer time using TransferGo depends on the chosen delivery option. Transfers can be completed within 30 minutes, by the end of the same day, or within 1 working day. For some destinations, transfers are completed by noon the next working day.

Pros and Cons of using TransferGo

Pros

Does not charge much different to mid-market exchange rate

Many flexible options for transfers

Can transfer money in as quick as 30 minutes

Cons

Payouts only possible to bank accounts

Only works well for transfers of small amounts

Transfers can take up to 3 days if you choose the cheaper option

TransferGo exchange rates

TransferGo offers competitive exchange rates for sending money from Canada to various countries. The exchange rate applied is typically close to the mid-market rate, with a minimal markup ranging from 0.5% to 1.5%, depending on the destination country For instance, when converting Canadian Dollars (CAD) to United States Dollars (USD), the exchange rate is approximately 1 CAD = 1.13 USD . Similarly, for CAD to Euros (EUR), the rate is about 1 CAD = 1.13 EUR . These rates are updated regularly to reflect market fluctuations.

Best rates with RemitBee

RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.

Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.

Safety and security

Is TransferGo money transfer secure?

TransferGo is considered a secure and reliable online money transfer provider, ensuring your money and personal information are well protected.

The company is fully regulated and operates under strict financial authority guidelines, including the UK's Financial Conduct Authority (FCA) and the Bank of Lithuania, ensuring high standards of safety. TransferGo also adheres to anti-money laundering (AML) and know-your-customer (KYC) regulations, providing a safe environment for sending and receiving money.

Security features

All TransferGo accounts are verified through a variety of checks, including identity verification to help prevent fraud and ensure the security of transactions.

TransferGo uses both manual and automated fraud detection techniques, employing advanced risk management procedures to identify and block suspicious activity.

All transactions are protected by strong online security measures, including 256-bit SSL encryption, ensuring that sensitive data is securely transmitted.