Continuing their mission to make it easier, cheaper and faster to transfer money everywhere, TransferGo have expanded their network of more than 45 countries to include three new locations: India, the Philippines and Ukraine.
“For TransferGo it’s very important to deliver on our promise to make fast and cheap international money transfers accessible to everyone everywhere. Most importantly, we’re helping people to send their money home, wherever their home would be.” Said Daumantas Dvilinskas, CEO and Co-Founder of TransferGo.
“For us, opening new corridors is a great opportunity but it’s also a responsibility, one we’re willing to take on. We want to work hard to ensure that everyone has the highest quality of low cost, real time payments. These latest countries are just the next step.”
The third highest receiver of remittances in the world, the Philippines are a great market for TransferGo to expand into. Filipinos are one of the largest migrant communities in Europe, with more than 850,000 thousand living on the continent. Between them they send the equivalent of almost 3.7 billion USD to the Philippines each year.
With traditional bank money transfers, that could mean that hundreds of thousands of people are wasting money every year in unnecessary bank transfer fees. Sending money using TransferGo could save senders in excess of 92 million GBP in transfer fees alone. By opening up corridors for these transfers, TransferGo are helping more migrant workers save money and helping facilitate billions of dollars worth of business every year.