Non-EU vendorFintech & NeobanksHeadquarters: GB

TransferGo: sovereignty score and 8 European alternatives

TransferGo is an online money transfer service for private customers and businesses that send payments to bank accounts abroad. Customers register and start transfers through the company's website or mobile app. The service is delivered as a hosted online platform, so customers install no software. Cross-border payments are carried out by electronic money institutions.

The registered office is in London, where TransferGo Ltd is authorised by the UK Financial Conduct Authority as an electronic money institution. A second company, UAB TransferGo Lithuania, is an electronic money institution regulated by the Bank of Lithuania. The website names no parent company or majority shareholder. The privacy policy says personal data is processed in Lithuania, the United Kingdom, Poland and Ireland, and that processing can occur outside those territories. No hosting provider or hosting region is named. For a European organisation, TransferGo is a UK-registered provider with an EU-licensed subsidiary, and the processing locations should be checked against its own requirements.

See the 8 European alternatives ↓Assess your stack with TransferGo pre-selected

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Sovereignty score

42 / 1000 = high exposure
100 = sovereign

Jurisdiction SOV-250
Headquartered outside the EU (GB)
Data residency SOV-350
Hosting inside and outside Europe (EU, OTHER)
Cryptographic key sovereignty SOV-340
Key management with a non-European vendor
Freedom from lock-in SOV-640
Closed source: switching requires data migration
Source & runtime sovereignty SOV-4 · SOV-630
Closed source, runtime with the vendor

SOV codes: the matching objective in the European Commission's Cloud Sovereignty Framework. Official source

How the score is calculated

Facts and evidence

Last checked October 12, 2026

Headquarters	GB (OTHER)Verified by hand
EU adequacy decision	Yes — found adequate by the European CommissionVerified by hand
Sovereignty model	Vendor-hosted (non-EU)Verified by hand
Data hosting	EU, OTHERVerified by hand
Open-source	NoVerified by hand
GDPR-compliant	YesVendor-stated
Category	Fintech & Neobanks
Type	Product
Website	transfergo.com ↗

How we verify · Something wrong? Suggest a correction

Top EU-based & GDPR-compliant alternatives to TransferGo

The European alternatives to TransferGo come from our knowledge base of over 8,000 vendors. We only list vendors headquartered in the EU or the EEA; fully European-owned vendors rank before vendors with a foreign owner. For each alternative you see the country, the open-source status and a short description.

Score per alternative: 0 = high exposure, 100 = sovereign

144 European Fintech & Neobanks vendors are in the catalogue. View the whole category · Submit an alternative · View category on the map

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Why digital sovereignty matters with TransferGo

TransferGo is headquartered in GB, outside the EU. Contracts and data therefore also fall under non-European law. The GDPR applies through contractual terms, but in a conflict with local legislation you have less certainty than with a European vendor.

TransferGo hosts data in EU, OTHER. Exactly what stays within the EU — and what does not — is defined by the vendor's data processing agreement and sub-processor list, not by a setting you control yourself; check those documents for the precise scope, including backups, logs and support access.

TransferGo is closed source and hosted by the vendor. The encryption keys and the runtime sit with the vendor and switching requires data migration. Ask about bring-your-own-key, export options and open standards.

What this means for your organisation depends on your whole stack and context. The free assessment weighs TransferGo together with your other vendors and gives a total score, a heatmap and the main risk drivers.

Frequently asked questions

What is the best European alternative to TransferGo?

It depends on your use case. Strong EU alternatives to TransferGo include 1822direkt, ActivoBank and Air Bank. On this page you can compare 8 EU alternatives by jurisdiction, data residency and open-source status.

Are there open-source alternatives to TransferGo?

Our list of EU alternatives to TransferGo is mostly commercial options. Browse the category on the map for open-source choices.

Is TransferGo GDPR-compliant and where is the data hosted?

TransferGo is headquartered in GB (OTHER) and hosts data in EU, OTHER. The vendor states it is GDPR-compliant, but the data falls under non-EU jurisdiction. For full EU data residency the EU alternatives on this page usually offer more certainty.

Details and sources

Verified by handHeadquarters, owner, hosting locations and licence have been checked by us against public sources. Free of charge and for every vendor, not a paid label. Nothing in this knowledge base is taken over automatically. Last checked on October 12, 2026.

Sources

Public sources used in the latest check of this record.

Compliance evidence

The links below point to the vendor's own public documents. We only record what we found: a missing link means "not found publicly", not "not compliant".

No public compliance evidence has been recorded for this vendor yet. Do you know its DPA or subprocessor list? Something wrong? Suggest a correction

Digital sovereignty in Fintech & Neobanks

Fintech & Neobanks: Digital banks, neobanks, money transfers and fintech services. In this category the choice of vendor determines who has legal access to your data, where that data lives and how easily you can switch later.

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