About the Author

Founder & author

Gavan started iCompareFX in 2014 after discovering the easiest way to wire money internationally was through a specialist provider and not the big banks. Working with global clients, he has become an expert in comparing money remittance companies. An ex-financial/IT nut turned entrepreneur, he reviews the best and cheapest providers available on the market.

Personal and business money transfers

Multi-currency digital wallet (coming soon - only for business customers)

Business customers can lock rates for future transfers

Bulk payments for business customers

Integration with popular accounting software

Payment options

Bank account transfers

Direct debits (only for business customers)

ACH payments (only for business customers from the US)

Payout options

Bank accounts

Transfer options


Regular transfers

Not available

Send money to


Email - customerservice@transfermate.com

Phone - International phone numbers location: https://www.transfermate.com/contact-us/

Personal Features


You can sign up as a personal customer with TransferMate from most countries around the world.

What TransferMate offers

International money transfers

Use existing TransferMate exchange rates to send money via Spot Contracts.

Send payment to local bank account

Send your payment to TransferMate's bank account in your country, and avoid paying extra fees.

What TransferMate doesn’t do

  • Personal account managers.
  • Travel cards.
  • Digital wallets.
  • Regular transfers.
  • Cash pickup.

TransferMate score

TransferMate's below average score in this section is because of its very basic services for personal customers. Adding features such as travel cards, regular transfers and digital wallets would definitely help.

Business Benefits


TransferMate's range of services for business customers is more extensive than for personal customers.

What TransferMate offers

TransferMate global payments

This soon-to-be-launched TransferMate global payments solution will be available for businesses, sole traders and online sellers. It will function as a multi-currency digital wallet. Use it to receive payments, hold funds and make payments in up to 30 currencies. 

Lock rates

Lock existing exchange rates for fixed periods to carry out transfers in the future.

Accounting integration

Integrate with TransferMate’s accounting software through its partners MYOB, QuickBooks and Sage.

Bulk payments

Carry out bulk payments to as many as 10,000 recipients through a single transaction.

What TransferMate doesn’t do

  • Travel cards.
  • Dedicated account managers.
  • Risk management tools.

TransferMate score

TransferMate can do better in this section by providing travel cards, risk management tools and dedicated account managers.

Fees & Exchange Rates


TransferMate fees

TransferMate’s fees depend on where you live and the amount you transfer.

TransferMate fees for US customers

Personal transfers - $15 per transfer.

Business transfers - No fees for transfers of $5,000 or more. Transfers of $1,000 to $5,000 attract $5 as fees. A $15 fee applies on transfers below $1,000 (allowed at the company's discretion).

TransferMate fees for EU customers

Personal transfers - €15 per transfer.

Business transfers - Transfers of €5,000 or more are fee-free. You pay €5 as fees for transfers of €1,000 to €5,000. If you are allowed to transfer less than €1,000, a €15 fee applies.

TransferMate exchange rates

TransferMate applies relatively low margins/markups on existing interbank exchange rates. While you know the exchange rate that will apply on your transfer in advance, you are not made aware of the margin.

Does TransferMate have additional fees?

Yes, you might have to incur additional TransferMate fees in some scenarios. For instance, you would need to pay a $10/€10 fee if you wish to send EUR payments to non-SEPA compliant bank accounts. If TransferMate carries out a same currency payment transaction on your behalf, you will need to pay an additional fee of $15/€15 (unless notified otherwise).

TransferMate score

TransferMate's score in this section leaves significant room for improvement because of its exchange rate margins, non-negotiable rates and transfer fees.

Ease of Use


What TransferMate does well

Registration process - You can sign up for a new TransferMate personal or business account relatively easily.

Transfer speed - TransferMate provides same-day transfers in most major currencies. Otherwise, transfers can take 2 - 3 business days.

Where TransferMate could improve

TransferMate App - No TransferMate app for mobile devices yet.

Minimum transfer amount - You need to transfer a minimum of $1,000/£1,000/€1,000. From Australia, the minimum limit is AUD $2,000. However, TransferMate may allow transfers below this amount at its sole discretion.

Payment methods - Personal customers may make payments only via bank account transfers. Business customers may set up direct debits or make ACH payments too.

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

TransferMate score

TransferMate gets a below average score in this section because it does not provide apps for mobile devices, it does not accept card payments, there is a restrictive minimum transfer limit in place and customers can not set up transfers over the phone.

Support & Countries


What TransferMate does well

Supported countries and currencies - TransferMate lets you send money to more than 160 countries, in close to 135 currencies.

Multilingual website - Use the TransferMate website in English, French, Spanish or German.

Customer support - Provides customer support over the phone, via email and via live online chat. Local phone support is provided in various countries.

Local settlement accounts - TransferMate has local settlements accounts in several countries, helping bring down transfer costs. 

Where TransferMate could improve

More languages - While TransferMate operates a multilingual website, increasing the number of languages could attract more customers.

TransferMate score

TransferMate scores well in this section. However, it can work on providing website access in more languages.

Trust & Transparency


What TransferMate does well

Regulated - TransferMate is registered and authorized by regulatory bodies in the US, the UK, Ireland, Switzerland, Jersey, Canada, Mexico, Australia, New Zealand, Singapore, Hong Kong and the United Arab Emirates.

Trustpilot - There are around 200 TransferMate reviews on Trustpilot. With a score of 9 out of 10, it rates as Excellent.

Where TransferMate could improve

Exchange rate transparency - The only way of finding out how much margin you pay on top of existing market rates is by carrying out your own research.

TransferMate score

Providing complete transparency in its exchange rates would help TransferMate improve its score in this section. 


Is TransferMate safe to use?

Yes, TransferMate is safe to use. The company is licensed by regulatory bodies in a number of countries. Most TransferMate reviews on Trustpilot have positive things to say about its services. However, some reviews highlight concerns surrounding poor customer service and high cost of transfers.



TransferMate is an Ireland-based international money transfer company with offices in several countries. It supports transfers to and from most countries. You may sign up with TransferMate as an individual or a business.


  • Personal and international money transfers
  • Extensive list of supported countries and currencies
  • Multi-currency digital wallet for business customers (coming soon)
  • Lockable rates for future business transfers
  • Bulk payments
  • Accounting software integration


  • No travel card
  • No cash pickup
  • No digital wallet for personal customers
  • No account managers
  • Exchange rate margins
  • No app for mobile devices