Remitly vs TransferGo
Which provider is better for sending money from the UK to India? Compare fees, exchange rate margins, delivery speed and what your recipient actually receives.
The bottom line: sending £1,000 from the UK, Remitly delivers ₹126,656 and TransferGo ₹126,214, so your recipient gets ₹442 more with Remitly. Remitly charges no fee with a margin of about 0.31% in its rate, paid by Open Banking; TransferGo charges a £3.99 fee with a margin of about 0.26% in its rate, paid by Faster Payments.
Quick verdict
Choose Remitly if you want…
- Express speed & introductory promotions
- Express mode delivers to Indian bank accounts via UPI in minutes
- Introductory promotional exchange rate on the first qualifying transfer
- Standard exchange rates after introductory promotions include a currency margin of roughly 0.3% to 1.3%, depending on the sending country
Choose TransferGo if you want…
- Tight exchange rates on UK to India bank transfers
- Authorized and regulated by the UK Financial Conduct Authority (FCA)
- Flat £3.99 fee on bank-funded transfers with a tight exchange rate margin
- Active for UK-to-India remittances; inactive for US, Canada, Australia, Singapore, and UAE
What your recipient gets at each amount
Indicative net rupee payouts for GBP → INR transfers, based on published fee schedules and benchmark snapshots.
Score breakdown, side by side
Each provider's TransferGauge Score across the seven weighted dimensions. How we score
Side-by-side details
| Metric | R Remitly | TG TransferGo |
|---|---|---|
| Exchange rate model | Retail rate, +0.31% margin | Retail rate, +0.26% margin |
| Transfer fees | Transfers paid from a bank account carry $0 fees for amounts of $1,000 or more from the US, UK, Canada and Australia. Debit card transfers can carry a fee (SGD 3.99 from Singapore). Revenue comes mainly from an exchange rate margin of roughly 0.3% to 1.3%. | TransferGo charges a flat £3.99 fee on bank-funded transfers to India, deducted from the send amount, plus a currency margin of about 0.26% below the mid-market rate. Express delivery options carry incremental charges. |
| Typical delivery | Express delivery with debit card credits Indian bank accounts or UPI IDs within minutes. Economy transfers take 3 to 5 business days. | Bank-funded transfers via UK Faster Payments typically settle in India within 1 business day. Eligible debit card transfers can arrive in hours. |
| Receiving methods | Bank accountUPICash pickup | Bank accountUPICash pickup (not supported) |
| Routes to India | 5 corridors | 1 corridor |
| Headquarters | Seattle, WA, USAFounded 2011 | London, United KingdomFounded 2012 |
| Full review | Read Remitly review | Read TransferGo review |
Summary advice
On our £1,000 GBP → INR benchmark, Remitly earns the higher TransferGauge Score (96 vs 92). The better choice still depends on your amount, how your recipient wants to be paid, and how quickly the money needs to arrive.
All figures are indicative benchmarks. Always verify live rates, fees and delivery options on the provider's website before sending money.
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