TransferGo review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
TransferGo pairs a variable rate of 3.04% with no monthly fee and money you can take out at any time, so it suits people who hold a balance alongside their transfers rather than locking cash away. Savers chasing the highest return will find better value elsewhere.
Key facts
- Best for
- An easy-access balance for people who also transfer money, at a monthly fee of £0.
- Headline rate
- 3.04%↗
- Rate type
- Variable↗
- Minimum deposit
- £1↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Access terms
- Easy access, withdraw at any time with no notice and no access penalties; interest accrues daily and is paid monthly↗
- Monthly fee
- £0↗
- Account kind
- Easy access↗
- Legal entity
- TransferGo Ltd↗
- Headquarters
- United Kingdom↗
- Founded
- 2012↗
- Support channels
- Email, Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- transfergo.com
Money transfer
- Transfer fee
- From 0.5% on currency exchange (0.2% in-account), from 0.2% to bank accounts, from 0.2% to cards, free to TransferGo accounts↗
- Delivery time
- 30 minutes, same-day (end of day), next working day (by noon) or 1 working day↗
- Payout methods
- Bank, Cash-pickup, Card↗
Facts checked September 26, 2026, 5 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- A monthly fee of £0 on the savings account.
- Withdraw at any time with no notice and no access penalties, and interest is calculated daily and paid monthly.
- Deposits sit under FSCS up to GBP 85,000.
- Support reaches you on email, phone and help centre.
Cons
- A variable rate of 3.04% can be revised, and the brand ranks 238 of 473 listed brands on headline rate.
- Support runs on email, phone and help centre only.
- Transfers to bank accounts and to cards are charged, although moving money between TransferGo accounts is free.
Who it suits
- People who already send money with TransferGo and want the balance to earn while it waits.
- Savers who need access without notice and without access penalties.
- Anyone starting small, since the minimum deposit is £1.
Who should look elsewhere
- Savers who want a higher headline rate: PayPal Colombia lists 3.3% against TransferGo's 3.04%.
- Card users who want spending balances to earn: AXI Card Tarjeta y Credito advertises 21.59%.
- Anyone wanting a fixed term rather than a variable rate: Plazo ES lists 24.19%, a different kind of deal.
Rates and terms
TransferGo's savings account pays a variable rate of 3.04%, so the interest you earn can be revised and may move up or down. A variable rate suits savers who keep money reachable and check where the rate stands before committing funds for longer. It offers less certainty than a fixed deal, and less of the gain when market rates climb.
How TransferGo compares
8.9 vs 8.6
8.9 vs 9.5
8.9 vs 8.0
8.9 vs 8.9
8.9 vs 8.9
8.9 vs 9.1
8.9 vs 9.1
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8.9 vs 8.7- 8.9 vs 8.0
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Where TransferGo is available
- Available
- Albania, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom
- Licence in United Kingdom
- Financial Conduct Authority (FCA) - authorised electronic money institution (991295), checked September 26, 2026
- Licence in Lithuania
- Bank of Lithuania (UAB TransferGo Lithuania, electronic money institution) (304871705), checked September 26, 2026
- Licence in United Kingdom
- Prudential Regulation Authority and Financial Conduct Authority (Griffin Bank Ltd, banking partner providing the savings account) (970920), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the TransferGo savings account pay?+
The account pays a variable rate of 3.04%. A variable rate can be revised by the provider, so the interest on a balance may rise or fall over time. Interest is calculated daily and added monthly.
Is there a monthly fee or a minimum deposit?+
The account charges a monthly fee of £0, and the minimum deposit is £1, so a small opening balance works. The account type is easy access, so there is no term to sit out.
Can I withdraw money when I need it?+
Yes. You can withdraw at any time with no notice and no access penalties, so the balance behaves like a pot you top up rather than a fixed term deposit. Interest is calculated daily and paid monthly, and the account type is easy access.
Is my money protected?+
Deposits are covered by FSCS up to GBP 85,000. The savings account is provided by Griffin Bank Ltd, which is authorised by the Prudential Regulation Authority and the Financial Conduct Authority, and TransferGo is registered as an authorised electronic money institution with the Financial Conduct Authority.
What does it cost to send money with TransferGo?+
Transfers carry a fee on currency exchange, and the rate is lower in-account, with separate charges for payouts to bank accounts and to cards. Transfers to another TransferGo account are free. Payouts reach bank, cash pickup and card.
How quickly does money arrive?+
Delivery depends on the route, and transfers can land in minutes, by the end of the same day, by noon the next working day, or within a working day. Money held in the savings account is a different matter, since the easy access balance can be withdrawn at any time with no notice and no access penalties.
Who does the TransferGo savings account suit?+
It suits people who already move money with TransferGo and want a balance that earns while it waits, plus savers who need to withdraw without notice. It suits them less well if they want a fixed deal, since 3.04% is variable and sits below the savings ranking median of 3.08%.
Where is TransferGo based and how long has it run?+
The brand is run by TransferGo Ltd, based in the United Kingdom and founded in 2012. Its savings account sits with a banking partner, and on headline rate the brand ranks 238 of 473 listings.
Sources
- support.transfergo.com/hc/en-gb/articles/15407270860564-H... checked September 26, 2026
Backs: Payout methods
“Other options: In some countries, we also offer cash payouts.”
- support.transfergo.com/hc/en-gb/articles/206284315-Transf... checked September 26, 2026
Backs: Delivery time
“Delivery time depends on the option you select: 30 minutes, Same-day (end of day), Next working day (by noon), 1 working day”
- transfergo.com/about checked September 26, 2026
Backs: Founded
“Since 2012, we've supported more than nine million people in over 160 countries around the world.”
- transfergo.com/business/savings-account checked September 26, 2026
Backs: Access terms, Account kind, Deposit protection, Headline rate, Headquarters, Legal entity, Minimum deposit, Pricing model, Monthly fee, Rate type, Support channels, Licences
“You do not need to provide any notice before withdrawing funds. Withdrawals are free. Interest accrues daily, based on the balance available in your account, and is paid monthly on the first calendar...”
- transfergo.com/pricing checked September 26, 2026
Backs: Transfer fee
“Currency exchange - In-account conversions and international money transfers - From 0.5% (0.2% when exchanging currencies within your account); Transfers to bank accounts - From 0.2%; Transfers to...”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.
Related by the facts
TransferGo
An easy-access balance for people who also transfer money, at a monthly fee of £0.