TransferGo vs Xe
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, TransferGo delivers ₹126,214 and Xe ₹125,780, so your recipient gets ₹434 more with TransferGo. TransferGo charges a £3.99 fee with a margin of about 0.26% in its rate, paid by Faster Payments; Xe charges no fee with a margin of about 1.00% in its rate, paid by Faster Payments.
Quick verdict
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
Choose Xe if you want…
- Bank-to-bank transfers & exchange rate tracking tools
- Zero upfront wire fees on transfers above $500
- Deep integration with reputable currency analysis and rate tracking charts
- Exchange rate margin is built into the retail rate (typically 0.8% to 1.5%)
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 | TG TransferGo | XE Xe |
|---|---|---|
| Exchange rate model | Retail rate, +0.26% margin | Retail rate, +1.00% margin |
| Transfer fees | 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. | Xe charges $0 transfer fees on most bank-funded corridors. Transfer costs are covered through a spread of 0.8% to 1.5% between wholesale rates and customer rates. |
| Typical delivery | Bank-funded transfers via UK Faster Payments typically settle in India within 1 business day. Eligible debit card transfers can arrive in hours. | UPI transfers settle within 1 to 2 hours. Standard bank wire clearing delivers in 1 to 2 business days. |
| Receiving methods | Bank accountUPICash pickup (not supported) | Bank accountUPICash pickup (not supported) |
| Routes to India | 1 corridor | 6 corridors |
| Headquarters | London, United KingdomFounded 2012 | Newmarket, ON, CanadaFounded 1993 |
| Full review | Read TransferGo review | Read Xe review |
Summary advice
On our £1,000 GBP → INR benchmark, TransferGo earns the higher TransferGauge Score (92 vs 90). 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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