TransferGo.com

JamboJet

Hi,
I wanted your opinion on that provider of money transfer.
This is the second time a bank refuses to transfer to them.
They are a LTD company and look legit. 
They come up on the list of providers on those comparison sites but the banks consider them high risk and won't transfer unless you really want to and answer all the questions.

I tried to do a transfer a year ago to the same effect.
Their website is up since circa 2012.

I mean if TransferGo were scammers I would expect someone going after them eventually.
I mean anyone who transfers to them from high street banks must end up with the same issue, right?
On the other hand it should be in TG.com interest to make sure they are not considered high risk and are not flagged by the banks so it feels they are either a front end for some different operations or have different client base that do not have this problem. Anyway nothing has improved since last time.

Let me know you thoughts.

wmb194

JamboJet said:

Hi,
I wanted your opinion on that provider of money transfer.
This is the second time a bank refuses to transfer to them.
They are a LTD company and look legit. 
They come up on the list of providers on those comparison sites but the banks consider them high risk and won't transfer unless you really want to and answer all the questions.

I tried to do a transfer a year ago to the same effect.
Their website is up since circa 2012.

I mean if TransferGo were scammers I would expect someone going after them eventually.
I mean anyone who transfers to them from high street banks must end up with the same issue, right?
On the other hand it should be in TG.com interest to make sure they are not considered high risk and are not flagged by the banks so it feels they are either a front end for some different operations or have different client base that do not have this problem. Anyway nothing has improved since last time.

Let me know you thoughts.

Probably because it's been used by fraudsters to trick people into sending money abroad and this particular company appears to have links to Lithuania but why worry? Just use a big, profitable one like Wise (LSE:WISE) or HSBC's Global Money account instead.

Ayr_Rage

@JamboJet you've contradicted yourself! 

"This is the second time a bank refuses to transfer to them."

"They come up on the list of providers on those comparison sites but the banks consider them high risk and won't transfer unless you really want to and answer all the questions."

If you really want to use them, answer the questions from the bank that will, eventually, make the transfer.

Eyeful

1.Maybe someone saw something like this?
https://www.scam-detector.com/validator/transfergo-com-review/

2. Maybe it is because
TransferGo was previously fined for breaching financial sanctions regulations, which may undermine confidence among some banking partners who are expected to uphold strict compliance standard

3. If it has happened to you twice, why not use another money transfer service your bank has no problem with?

JamboJet

Ayr_Rage said:

@JamboJet you've contradicted yourself! 

"This is the second time a bank refuses to transfer to them."

"They come up on the list of providers on those comparison sites but the banks consider them high risk and won't transfer unless you really want to and answer all the questions."

If you really want to use them, answer the questions from the bank that will, eventually, make the transfer.

It may sound silly but in any case the questions they ask infringe on my privacy.
In the first instance the bank has actually blocked the whole account in the result of that what angered me. Their security didn't want to unblock it unless I answer "a sensitive" question about that transfer. I refused so the only option left was for them to transfer money to another bank account and close the account.

What they should do instead and this is what the other bank did is just to block the transfer, explain to the customer the danger, suggest an alternative provider of that service and cancel the payment.

JamboJet

Eyeful said:

1.Maybe someone saw something like this?
https://www.scam-detector.com/validator/transfergo-com-review/

2. Maybe it is because
TransferGo was previously fined for breaching financial sanctions regulations, which may undermine confidence among some banking partners who are expected to uphold strict compliance standard

3. If it has happened to you twice, why not use another money transfer service your bank has no problem with?

I am not sure if Scan Detector is what the banks use but from its report I can see TransferGo does not look like a serious business and it could be a scam.
Serious businesses don't use free Let's Encrypt SSL certificates nor their domains are registered with NameCheap. I can imagine see a small online shop using those certificates but not a company that deals in money.

To answer your question No 3. I do this type of transfer once a year or less and I don't remember who I used at the time. This way I can fall into the same trap several times.
Last year I end up using another service provider I had no issues with but when I went there this year they have been acquired by what it looks like Corpay and I cannot login to it.

born_again

JamboJet said:

Ayr_Rage said:

@JamboJet you've contradicted yourself! 

"This is the second time a bank refuses to transfer to them."

"They come up on the list of providers on those comparison sites but the banks consider them high risk and won't transfer unless you really want to and answer all the questions."

If you really want to use them, answer the questions from the bank that will, eventually, make the transfer.

It may sound silly but in any case the questions they ask infringe on my privacy.
In the first instance the bank has actually blocked the whole account in the result of that what angered me. Their security didn't want to unblock it unless I answer "a sensitive" question about that transfer. I refused so the only option left was for them to transfer money to another bank account and close the account.

What they should do instead and this is what the other bank did is just to block the transfer, explain to the customer the danger, suggest an alternative provider of that service and cancel the payment.

Bank is trying to protect you from being scammed.
What did they ask that infringed on your privacy?

End of the day if you want to use them, you have to answer the questions.