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.

Spot contracts

Mass payments

Global receivables

Global accounts

Payment options

Bank transfer

Payout options

Bank transfer 

Transfer options



Regular transfers


Send money to


Email - ireland@transfermate.com

Personal Features


TransferMate lets individual customers carry out spot transfers. It does not let individual customers schedule transfers and does not provide hedging tools.

  • Spot contracts. Spot contracts give individual and business customers the ability to book payments instantly using live market rates.
  • Flexible variable contracts. Business clients get the ability to protect themselves against market volatility. They may lock in rates for predetermined time periods without worrying about drawdown fees.
  • Minimum transfer amount. The company has a minimum transfer limit of €1,000 in place.
  • Tracking payments. You may use the TransferMate online platform to check the status of your transfers and to view your account’s history.

Business Benefits


Businesses may use TransferMate money transfer services to send and receive payments. The mass upload options gives businesses easy means to make multiple payments in one go. Business clients get to choose from spot contracts and flexible variable contracts. The company also provides integrated software solutions for businesses and banks, through software such as Jcurve, MYOB, NetSuite, QuickBooks, Sage, SAP, and XERO.

Fees & Exchange Rates


Business clients pay no fees when they transfer any amount over USD/GBP/EUR 5,000 or its equivalent in another currency. For transfers below this amount, a nominal fee applies.

Fees that individuals need to pay depend on where they live.

The UKGBP 10
FranceEUR 15
Rest of EuropeEUR 10
The U.S.USD 20
CanadaCAD 20
AustraliaAUD 20
New ZealandNZD 20

All transfers initiated using the company’s online platform attract USD/GBP/EUR 15 as fees.

TransferMate Currency Exchange Rates

TransferMate currency exchange rates are typically better than what you will get through most banks. However, you may want to compare its rates with other overseas money transfer companies shortly before your next transfer to find out which alternative is the most cost effective.

Ease of Use


This section of the TransferMate money transfer review guides you through the registration process. You may sign up with this company as an individual or a business. When signing up as an individual, you will need to provide the following details:

  • Your complete name
  • Your country of residence
  • Your email address
  • Your date of birth
  • Your mobile number

After you submit the online application, the company sends you a form via email. You need to complete the form and send it across via email or fax. You may also need to provide documents to verify your identity.

Support & Countries


TransferMate Customer Service

On Trustpilot, TransferMate gets a score of 7.4 out of 10. On Review Centre, its average score stands at 4.7 out of 5. A few negative reviews about the company talk of lack of transparency and limited payment options. For answers to frequently asked questions, you may check the support section of the TransferMate website. You may contact a company representative over the phone, or via email or chat.

Transfermate supported countries

No matter which TransferMate review you read, you will be hard pressed in finding a list of countries and currencies supported by the company. This is because it does not provide any such list. However, it mentions that it processes payments in all major and exotic currencies, barring ones that have restrictions in place.

The list below gives you an indication of restricted currencies. Since restrictions are subject to change, if you find a currency you wish to transfer on this list you may want to check with TransferMate before your next transfer.

AngolaAngolan kwanzaAOA
ArmeniaArmenian dramAMD
BahamasBahamian dollarBSD
BarbadosBarbadian dollarBBD
BelizeBelize DollarBZD
BrazilBrazilian realBRL
CameroonCentral African francXAF
CubaCuban pesoCUP
EgyptEgyptian poundEGP
EthiopiaEthiopian birrETB
FijiFijian dollarFJD
GeorgiaGeorgian lariGEL
GhanaGhanaian cediGHS
IranIranian rialIRR
LibyaLibyan dinarLYD
MoroccoMoroccan dirhamMAD
MyanmarBurmese kyatMMK
NamimbiaNamibian dollarNAD
NigeriaNigerian nairaNGN
North KoreaNorth Korean wonKPW
Papua New GuineaPapua New Guinean kinaPGK
SamoaSamoan talaWST
RussiaRussian rubleRUB
SudanSudanese poundSDG
TunisiaTunisian dinarTND
UkraineUkrainian hryvniaUAH
UzbekistanUzbekistani somUZS
VenezuelaVenezuela bolivarVEF

Trust & Transparency


  • The company operates dedicated websites for residents of Austria, Belgium, Canada, France, Germany, Ireland, New Zealand, Spain, Switzerland, the UK, and the U.S.
  • Website access comes in English, French, German, and Spanish.
  • It accepts customers from most countries the world over.
  • The company is regulated by the Central Bank of Ireland.
  • It is registered with the United States Department of Treasury Financial Crimes Enforcement Network (FinCEN), the Financial Transactions and Reporting Analysis Centre of Canada (FINTRAC), the Australian Transaction Reports and Analysis Centre (AUSTRAC), and the Ministry of Economic Development Companies Office in New Zealand.




Ireland-based TransferMate provides overseas money transfer services for individuals, businesses, and sole traders. The company deals in a majority of the currencies and it facilitates payments to and from most countries the world over. By operating accounts in different countries, it is able to provide quick turnaround times. It gives businesses hedging alternatives as well as integrated software solutions.