TransferGo review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
TransferGo pays a variable rate of 3.04% on an easy-access business savings account with no notice period. It suits businesses and sole traders already using its transfer service that want instant withdrawals under FSCS protection, though Wise pays a higher headline rate on its savings pot.
Key facts
- Best for
- An easy-access business pot for money that has to stay reachable the same day it lands.
- 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
Facts checked September 26, 2026, 2 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- Withdraw at any time with no notice and no access penalties, and interest accrues daily and is paid monthly.
- Deposits sit under FSCS up to GBP 85,000.
- The savings account is provided by Griffin Bank Ltd, regulated by the Prudential Regulation Authority and the Financial Conduct Authority.
- TransferGo Ltd has been trading since 2012, so the provider is a long-established business rather than a newcomer.
Cons
- The rate is variable, so the 3.04% headline is not locked in for a term.
- Wise pays 3.29% on its savings balance, above the 3.04% offered here.
- Support runs on email, phone and help centre only, with no in-person counter service.
Who it suits
- Businesses and sole traders who already move money abroad with TransferGo and want the balance to earn between transfers.
- Anyone who needs same-day access, since withdrawals carry no notice and no access penalties.
- Savers whose balance stays within the cover of FSCS up to GBP 85,000 and who accept a variable rate.
Who should look elsewhere
- Wise, if the headline rate decides it: Wise pays 3.29%.
- bunq, if you would rather hold an interest product inside a banking app, at 3.01%.
- Finteres, if a published range of 0% to 36% appeals and you want a higher ceiling.
How TransferGo compares
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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 TransferGo pay on its savings account?+
The headline rate is 3.04% and it is variable, so the figure can rise or fall rather than staying fixed for a term. Interest accrues every day and is paid out monthly. Wise pays 3.29% on its savings balance, which is higher.
What does it cost to keep the account open?+
There is no monthly charge, with a monthly fee of £0. The minimum deposit is £1, so an account can be started from a small balance and topped up as money comes in. Support runs on email, phone and help centre.
Is my money protected if something goes wrong?+
Deposits are covered by the FSCS at FSCS up to GBP 85,000. The savings account is provided by Griffin Bank Ltd, regulated by the Prudential Regulation Authority and the Financial Conduct Authority. TransferGo Ltd is the legal entity behind the account and has been trading since 2012.
Which regulators oversee TransferGo and the account?+
TransferGo Ltd is authorised by the Financial Conduct Authority as an electronic money institution, and the Bank of Lithuania authorises the group's Lithuanian electronic money business. The savings account itself is provided by Griffin Bank Ltd under Prudential Regulation Authority and Financial Conduct Authority regulation.
Can I take my money out whenever I need it?+
Yes. The account is an easy-access one: withdraw at any time with no notice and no access penalties. Interest keeps accruing daily while the balance sits there, and is paid monthly. There is no notice period to plan around and no penalty for taking funds out.
Who is this savings account aimed at?+
TransferGo lists this as a business savings account, aimed at businesses and sole traders rather than general savers. Money already moving through the transfer service can be left to earn at a variable rate of 3.04%, and the minimum deposit of £1 keeps the entry point low. The legal entity is TransferGo Ltd.
How do I get help if something is wrong?+
Support runs on email, phone and help centre, so a help centre, email and phone are all available for the account. Across savings accounts a help centre is offered by 73.3% and phone support by 80.2%, so both are standard in this group.
Sources
- 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...”
Compiled from 2 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.
TransferGo
An easy-access business pot for money that has to stay reachable the same day it lands.