CurrencyFair vs TransferGo
CurrencyFair
currencyfair.com
TransferGo
transfergo.comSide by side
| Figure | CurrencyFair | TransferGo |
|---|---|---|
| Price from | €3/mo | Free |
| Free plan | — | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | — |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | Yes | — |
| Plans published | 3 | 8 |
| Spec score · Money Transfer Apps | 8.6 (#14) | 8.8 (#9) |
| Exchange-rate model | markup | markup |
| Upfront fee display | Yes | Yes |
| Founded | 2010 | 2012 |
| Free plan | Yes | Yes |
| Headquarters | Dublin, Ireland | London, United Kingdom; Vilnius, Lithuania |
| Mobile platforms | both | The app is available for iOS, Android and Huawei. |
| Recipient methods | bank | Transfer options include card-to-card payments, e-wallets and cash transfers. |
| Transfer speed | Many international transfers are completed within 24 hours, and GBP Faster Payments can arrive within one hour with participating banks. | Transfers can be delivered in minutes, instantly, within an hour or next business day depending on method. |
| Transfer tracking | Yes | Yes |
Plans
CurrencyFair
- International transfer€3 a month
- Business account€3, paid once
- Personal account€3, paid once
TransferGo
- Free multicurrency accountPrice not published
- International bank-account transferPrice not published
- International card transferPrice not published
- Currency exchangePriced on request
- Multi-currency accountFree
- Transfers to bank accountsPriced on request
- Transfers to cardsPriced on request
- Virtual GoCardFree
In their own words
CurrencyFair
CurrencyFair provides online cross-border payments and foreign-exchange services through web, iOS, Android, and an API for approved business and institutional partners. Users can send and receive money to and from more than 150 countries in more than 20 currencies, with bank recipients and same-day transfer speed listed. Quick Trade supports instant exchanges; Marketplace Trades let users set a desired rate and wait for a match. Users can also set rate alerts, track transfers, and schedule them. Business customers can pay overseas workers, suppliers, and contractors, or receive international payments. UK-based business customers can hold more than 20 currencies and convert when market conditions suit them. CurrencyFair lists a free plan. Charges include €3 a month for international transfers, billed at €3 or currency equivalent when sending or transferring out after exchange, plus an exchange margin. Personal and business accounts list a €3, paid once charge per send or transfer out after exchange. Identity verification is required and may involve identification and up to two proofs of address. The company is based in Dublin and was founded in 2010.
TransferGo
TransferGo is a mobile service for international transfers and multi-currency balances, with transfers available to over 160 countries. Recipients can receive money through bank accounts, payment cards, e-wallets, and cash transfers. TransferGo lists instant transfer speed, while its plan details also state next-business-day delivery for bank-account transfers. Bank transfers start from 0.2%, and card transfers start from 0.2% with possible third-party fees. Currency exchange starts at 0.5%, or 0.2% for exchanges within the account. The multi-currency account has no setup or monthly costs and supports GBP, EUR, PLN, and RON balances. Users can see fees upfront and track transfers. Registration can be completed online on a computer as well as through the Android and iOS apps. TransferGo says it uses end-to-end encryption and safeguards transfers so money can be returned if a transfer fails. It is regulated under EU and UK law and authorised by the FCA as an EMI. Customer service is available in English and nine other languages.