Remitly vs TransferGo
Remitly
remitly.com
TransferGo
transfergo.comSide by side
| Figure | Remitly | TransferGo |
|---|---|---|
| Price from | Free | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 3 | 8 |
| Spec score · Money Transfer Apps | 9.1 (#2) | 8.8 (#9) |
| Exchange-rate model | variable | markup |
| Upfront fee display | Yes | Yes |
| Founded | 2011 | 2012 |
| Headquarters | Seattle, Washington, USA | London, United Kingdom; Vilnius, Lithuania |
| Mobile platforms | The app is available on iOS through the App Store and on Android through Google Play. | The app is available for iOS, Android and Huawei. |
| Recipient methods | Recipients may receive money by bank account, mobile wallet, cash pickup, mobile money, home delivery, or debit card deposit. | Transfer options include card-to-card payments, e-wallets and cash transfers. |
| Regulatory status | Remitly says it meets regulatory standards worldwide and is licensed as a money transmitter in listed U.S. jurisdictions. | TransferGo is regulated under EU and UK law and authorised by the FCA as an EMI. |
| Transfer speed | instant | Transfers can be delivered in minutes, instantly, within an hour or next business day depending on method. |
| Transfer tracking | Users can follow transfers in real time through the app, website, email, or SMS notifications. | Yes |
Plans
Remitly
- Bank depositFree
- Cash pickup$2.99, paid once
- New customer promotional ratePrice not published
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
Remitly
Remitly is a mobile app for sending money internationally, available on Android and iOS. It serves more than 175 countries and offers several ways for recipients to receive funds: bank account, mobile wallet, cash pickup, mobile money, home delivery, or debit card deposit. Senders can pay by bank transfer, debit or credit card, Apple Pay, or Google Pay. Before sending, the app displays the exchange rate, fees, and total cost; exchange rates are variable, and transfer speed is listed as instant. Transfers can be tracked, and recipients do not need to install the app or sign up. The app is free to download, and a free plan is listed. For transfers from the United States to France, bank deposit is free and cash pickup is $2.99, paid once. A new-customer promotional rate applies to the first 1,500.00 USD sent. Sending limits vary by sender and recipient location and apply over 24 hours, 30 days, and 180 days. Remitly says it refunds fees if a transfer is not delivered on time.
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.