Personal Features

TransferGo

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25

You can sign up as a personal customer with TransferGo from most European countries.

What TransferGo does

  • International money transfers.
  • Regular transfers.
  • Payouts to Visa and Mastercard cards.

What TransferGo doesn’t do

  • Account manager.
  • Digital wallet.
  • Personal travel card.
  • Bill payments.
  • Cash pick up.

PayPal

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33

PayPal provides different services for personal customers from a number of countries. However, the services on offer vary from one region to another.

What PayPal does

  • International money transfers.
  • Debit and prepaid cards.
  • PayPal Credit.
  • Links multiple payment methods to your account to shop online.
  • Digital wallet to hold funds in multiple currencies.

What PayPal doesn’t do

  • Dedicated account managers.
  • Risk management tools.
  • Cash pickup.

PayPal wins!

PayPal scores better in the Personal Features category.

PayPal
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Winner

Business Benefits

TransferGo

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13

TransferGo's business services are fairly limited.

What TransferGo business account offers

  • International money transfers.
  • API integration.
  • Batch payments.

What TransferGo business account doesn’t offer

  • Business travel cards.
  • Currency specialists.
  • Forward contracts and market orders.
  • Multi-currency accounts.
  • Digital wallets.
  • Integration with Xero or MyBooks.
  • Online seller solutions.

PayPal

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56

PayPal provides a range of specialized services for businesses from different countries.

What PayPal for business offers

  • Make and accept international payments.
  • Solutions for online sellers.
  • Digital wallet to hold funds and transact in multiple currencies.
  • Payment gateway to accept card payments.
  • Accepts in-store payments with a card reader and a smartphone or tablet.
  • Easy accounting integration through APIs, SDKs, code samples and pre-integrated solutions.
  • Risk management through fraud and seller protection.
  • Mass payments.

What PayPal for business doesn’t do

  • Account managers.
  • Currency hedging tools.

PayPal wins!

PayPal scores better in the Business Benefits category.

PayPal
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Winner

Fees & Exchange Rates

TransferGo

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25

TransferGo fees

TransferGo fees vary based on the location of the sender and the desired transfer speed. 
 

TransferGo exchange rates

TransferGo adds a markup of 0% - 3.3% on existing mid-market rates.


PayPal

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0

PayPal fees vary based on where you live and the services on offer.

Fees for sending money within the US

Payment methodFees
PayPal Cash, PayPal Cash Plus or a linked bank account $0
Credit card, debit card or PayPal Credit2.9% of the transfer amount, plus a fixed fee

Fees for sending money overseas

Payment methodTransaction feesFunding fees
PayPal Cash, PayPal Cash Plus or a linked bank account 5% of the transfer amount (minimum of $0.99 and maximum of $4.99)$0
Credit card, debit card or PayPal Credit.5% of the transfer amount (minimum of $0.99 and maximum of $4.99)2.9% of the transfer amount plus a fixed fee

Fees for selling

Mode of sellingFees
Selling in the US2.9% plus $0.30 per transaction
Selling internationally4.4% plus a fixed fee based on the currency received
PayPal Here card reader2.7% for card swipes, or 3.5% plus $0.15 for manually entered transactions

PayPal exchange rates

PayPal adds a margin of up to 3% on existing mid-market rates when carrying out currency conversion. Combined with the fees you need to pay, the cost of sending money overseas through PayPal becomes rather prohibitive.


TransferGo wins!

TransferGo scores better in the Fees and Exchange Rates category.

TransferGo
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Winner

Ease of Use

TransferGo

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82

What TransferGo does well

Payment options:

  • Bank account transfers.
  • Debit card payments in GBP, EUR, PLN, NOK, SEK and DKK.
  • Credit card payments in GBP, EUR, PLN, NOK, SEK and DKK.

Multilingual website - You can use the TransferGo website in different European languages.

Transfer speed - Most transfers process in 1 - 2 working days. TransgerGo also provides 30-minute and Same Day transfers in some countries.

Signing up - Sign up using the TransferGo website or app.
 

Where TransferGo could improve

Phone transfers - You can not carry out transfers over the phone.

Mobile app - Available for iOS and Android. However, a number of Android users have highlighted functionality-related problems.

Transfer limits -  A maximum limit of £2,500 applies on card payments.


PayPal

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68

What PayPal does well

Sign up - Signing up takes little time, and you may do so by using the PayPal website or app.

Payment options - You can fund your account and transfers in different ways such as bank transfers, debit cards and credit cards.

PayPal app - The PayPal app is available for iOS and Android.
 

Where PayPal could improve

Phone transfers - PayPal customers can not send money over the phone.


TransferGo wins!

TransferGo scores better in the CATEGORYNAME category.

TransferGo
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Winner

Support & Countries

TransferGo

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75

What TransferGo does well

Supported destination countries for bank transfers - Send money to local bank accounts in more than 65 countries.

Supported destination countries for card transfers - Send money to Mastercard and Visa cards in 25 countries.

30-minute delivery - Use this option to send money to over 35 countries.

Customer support - Get multilingual support over the phone or via email.
 

Where TransferGo could improve

Registration countries - TransferGo only accepts customers within Europe.


PayPal

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88

What PayPal does well

Supported countries - PayPal provides its services in more than 200 countries and territories.

Multilingual website - You can use the PayPal website in different languages.
 

Where PayPal could improve

Local phone support - PayPal could do better by providing local phone support in countries with large customer bases.


PayPal wins!

PayPal scores better in the Support and Countries category.

PayPal
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Winner

Trust & Transparency

TransferGo

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44

TransferGo is a reliable money transfer company. 
 

What TransferGo does well

Regulated - TransferGo is regulated by government bodies in the UK and Lithuania.

Safety of funds - Segregated bank accounts used for holding clients' funds.

Trustpilot - Rates as Excellent.
 

Where TransferGo could improve

Transparency in rates - TransferGo exchange rates come with markups, which can be up to 3.3% in some cases. The company does not notify customers of the markups it adds.


PayPal

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What PayPal does well

  • PayPal is licensed to provide its services in all the regions in which it operates.
  • Dispute resolution and purchase protection for buyers.

Where PayPal could improve

Customer rating - PayPal gets a rating of Bad on Trustpilot. Several PayPal reviews written by customers highlight the company's poor customer service. None of the recent reviews have been answered by PayPal.

Exchange rate transparency - The non-transparent exchange rate margin leaves many customers wondering about the true cost of their transfers.


TransferGo wins!

TransferGo scores better in the Trust and Transparency category.

TransferGo
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Winner

The Result

Winner ribbon iconWinner

 PayPal

Paypal has a narrow win over TransferGo.  The main reasons are for its business and personal features and its supported countries reach.