TransferGo
TransferGo is a fintech founded in 2012 that provides international money transfer services to migrants and businesses, operating in 160+ countries.
Account Types
Business Plans
| Feature | TransferGo Business Account |
|---|---|
| Monthly Fee | Free |
| Annual Fee | - |
| Minimum Balance | - |
| Fee Currency | GBP |
| Free ATM Withdrawals | - |
| Billing Model | Pay As You Go |
| Free Tier | Available Account registration, maintenance, holding GBP/EUR/RON/PLN balances, individual IBAN, and receiving local/international payments are all free. Currency conversion from 0.35%, card transfers from 0.2%, same-day fast-track £0.99 flat fee. |
| Description | Free multi-currency business account. Hold GBP, EUR, RON, PLN. Free to set up, receive and maintain. Pay-as-you-go fees for FX and card transfers. Fast-track £0.99 flat fee. |
Visit the provider website for detailed plan comparisons and features
Business Features
Batch/bulk payments confirmed: up to 1000 accounts per batch across 60+ countries, 35+ currencies. Single payment fee regardless of number of recipients. Automated/scheduled batch payments confirmed with reminder notifications before execution. Accounting software integration mentioned ('export this information without any manual input') but no specific software partners named (e.g., Xero, QuickBooks not mentioned). Free business account confirmed. Multi-currency balances supported: GBP, EUR, RON, PLN. Fees: account setup free, receiving free, currency exchange from 0.35%, card transfers from 0.2%, fast-track same-day delivery £0.99 flat. Savings account available (UK businesses only), provided by Griffin Bank. No evidence of: API/developer access, multi-user/team roles, expense management, receipt scanning, corporate cards, invoicing, payment gateway, or approval workflows in the source material. API tracker URLs in additional context suggest an API may exist externally, but no API details appear in the fetched page content.
Fees & Limits
| Route | Fee Structure | Min/Max |
|---|---|---|
| Local (GBP) | Free(N/A) | No limit Receiving local GBP payments into TransferGo Business Account via individual IBAN/account number |
| Internal | Free(instant) | No limit Receiving transfers from other TransferGo users; always free |
| Local (GBP) | Free(1 business day) | No limit Standard transfer to bank accounts via IBAN; cost-effective next-business-day delivery; no transfer fee |
| Other | 0.00%(N/A) | No limit Transfer fee to cards; from 0.2% depending on card type and region |
| Fee | Details | Amount |
|---|---|---|
| Account Fees | ||
| Account Registration Fee | -One-time | Free |
| Monthly Maintenance Fee | -Monthly | Free |
| Multi Currency Balance Holding Fee | -Other | Free |
| Savings Account Fee | -Other | Free |
| Transfer Fees | ||
| Inbound Individual Iban Fee | -Other | Free |
| Inbound Local Payment Fee | -Per transaction | Free |
| Inbound Internal Transfer Fee | -Per transaction | Free |
| Outbound Bank Transfer Fee | -Per transaction | Free |
| Fast Track Delivery Fee | -Per transaction | £0.99 |
| Card Fees | ||
| Outbound Card Transfer Fee | -Per transaction | 0.00% |
| Other Fees | ||
| Fx Currency Conversion Fee | -Per transaction | 0.00% |
Cards
No card information available
Security & Compliance
Regulation
- Bank of Lithuania (Lietuvos bankas)License: LB000461. Licensed in Lithuania. Safeguarding: segregated_accounts.
- Compliance CertificationsPCI DSS
App Security
- Two-Factor AuthenticationBiometric authentication (fingerprint, Face ID), PIN code
TransferGo operates as an Electronic Money Institution (EMI) licensed by the Bank of Lithuania (authorization code LB000461, valid from 2018-07-10). As an EMI, customer funds are safeguarded via segregated accounts rather than deposit insurance. The company received a regulatory sanction on 2023-08-01 for multiple violations of Lithuanian AML/CFT law (Law on the Prevention of Money Laundering and Terrorist Financing), resulting in a €310,000 fine and a warning — violations spanned customer due diligence, transaction monitoring, internal controls, and reporting obligations. GDPR-compliant: data stored for up to 8 years per legal requirement, strong security measures applied to personal data, DPO contact at [email protected], data subject rights (access, rectification, erasure, opt-out) are supported. Data shared with third-party ID verification suppliers and for legal compliance. PCI DSS compliance is inferred as the provider issues payment instruments and processes card transactions. No explicit mention of AES-256, TLS version, SOC2, or bug bounty program.
Support & Platforms
Customer Support
- Help Center24/7
TransferGo Help Center with support articles and FAQs.
- Contact Form24/7Priority
Contact form available via TransferGo support help center at support.transfergo.com/hc/en-gb/articles/206949066-Contact-us.. Dedicated business customer support page at support.transfergo.com/hc/en-gb/articles/20565275968274-Support-for-Business-Customers. Business account support section available.
- Social Media24/7
TransferGo on Twitter/X: https://twitter.com/transfergo. LinkedIn: https://www.linkedin.com/company/transfergo.
Available Platforms
Eligibility
Supported Currencies
Local Account Details5 accounts
Virtual IBAN (vIBAN) issued and managed by LHV Pank, a licensed Estonian credit institution regulated by the Bank of Estonia (Eesti Pank). EU IBAN offered. Account is free to hold; fees apply only on transactions and are shown upfront.
Virtual IBAN (vIBAN) issued and managed by LHV Bank Limited, authorised as a financial institution by the Prudential Regulation Authority (PRA). GB IBAN offered. Account is free to hold; fees apply only on transactions and are shown upfront.
Virtual IBAN (vIBAN) issued and managed by Santander Bank Polska S.A., a licensed Polish credit institution regulated by Poland's financial regulator (Komisja Nadzoru Finansowego). Polish IBAN issued for PLN transactions. Account is free to hold; fees apply only on transactions and are shown upfront.
Virtual IBAN (vIBAN) for USD is issued and managed by Santander Bank Polska S.A., a licensed Polish credit institution regulated by KNF. USD is received via a Polish IBAN (not a US routing number/ACH account); likely SWIFT-only inbound. Direct debit not applicable for USD via this structure. Account is free to hold.
RON balance is listed as a supported currency on the multi-currency account pages (personal and business). No specific vIBAN issuer details were provided for RON on the Virtual IBAN page. Account is free to hold; fees apply only on transactions and are shown upfront.