{"id":167646,"date":"2025-02-27T09:49:27","date_gmt":"2025-02-27T09:49:27","guid":{"rendered":"https:\/\/www.transfergo.com\/?p=167646"},"modified":"2025-02-27T11:57:02","modified_gmt":"2025-02-27T11:57:02","slug":"transfergo-vs-luminor-business","status":"publish","type":"post","link":"https:\/\/www.transfergo.com\/gb\/transfergo-vs-luminor-business","title":{"rendered":"TransferGo vs Luminor Business: Which service is best for businesses?"},"content":{"rendered":"\n<p>If you\u2019re curious about the best business payment platforms for your business needs, you\u2019ve come to the right place. Here, we explore and compare two of the main online payment providers for businesses: TransferGo Business vs Luminor Business.<\/p>\n\n\n\n<p>We uncover everything from fees and market reach to customer support, integration tools and speed of payments to help you determine which one will provide the best business payment solutions for your needs.<\/p>\n\n\n\n<p>Ready to explore our TransferGo vs Luminor Business comparison? Let\u2019s get started!<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#key-benefits-of-transfer-go-for-businesses\">Key benefits of TransferGo for businesses<\/a><\/li><li><a href=\"#how-transfer-go-simplifies-business-payments\">How TransferGo simplifies business payments<\/a><\/li><li><a href=\"#multi-currency-solutions-how-luminor-and-transfer-go-differ\">Multi-currency solutions: How Luminor and TransferGo differ<\/a><\/li><li><a href=\"#comparing-fees-and-hidden-costs-luminor-vs-transfer-go\">Comparing TransferGo vs Luminor Business fees<\/a><\/li><li><a href=\"#market-reach-supported-countries-and-currencies\">Market reach: Supported countries and currencies<\/a><\/li><li><a href=\"#speed-of-payments-which-platform-delivers-faster-transfers\">Speed of payments: Which platform delivers faster transfers?<\/a><\/li><li><a href=\"#user-experience-transfer-go-vs-luminor-for-businesses\">User experience: TransferGo vs Luminor for businesses<\/a><\/li><li><a href=\"#security-and-compliance-ensuring-business-transactions-are-safe\">Security and compliance: Ensuring business transactions are safe<\/a><\/li><li><a href=\"#customer-support-comparison-luminor-vs-transfer-go-for-businesses\">Customer support comparison: Luminor vs TransferGo for businesses<\/a><\/li><li><a href=\"#integrations-for-businesses-accounting-and-erp-system-compatibility\">Integrations for businesses: Accounting and ERP system compatibility<\/a><\/li><li><a href=\"#advantages-and-drawbacks-for-businesses\">Advantages and drawbacks for businesses<\/a><ul><\/ul><\/li><li><a href=\"#conclusion-choosing-the-right-platform-for-your-business-needs\">Choosing the right platform for your business needs<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"key-benefits-of-transfer-go-for-businesses\">Key benefits of TransferGo for businesses<\/h2>\n\n\n\n<p>Signing up for a <a href=\"https:\/\/www.transfergo.com\/gb\/business\/account\">TransferGo Business Account<\/a> brings many benefits. It\u2019s free to sign up and subscribe and once your account is set up, you\u2019ll be able to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Send money transfers to over 60 destination countries in 35 currencies<\/strong> (and counting)<\/li>\n\n\n\n<li><strong>Maximise your value<\/strong> thanks to low transaction fees and competitive currency exchange rates (plus, you\u2019ll unlock even lower rates when making high-volume transactions!)<\/li>\n\n\n\n<li><strong>Simplify your global financial management<\/strong> thanks to the ability it gives you to send, receive, hold and exchange money across the globe<\/li>\n\n\n\n<li><strong>Rely on top-tier, dedicated customer suppor<\/strong>t in 9 different languages when you need it<\/li>\n<\/ul>\n\n\n\n<p>Want to find out more? Learn more about <a href=\"https:\/\/www.transfergo.com\/gb\/business\/how-it-works\">how TransferGo Business works<\/a> here.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-transfer-go-simplifies-business-payments\">How TransferGo simplifies business payments<\/h2>\n\n\n\n<p>It\u2019s swift, simple and seamless to send business payments with a <a href=\"https:\/\/www.transfergo.com\/gb\/business\/account\">TransferGo Business Account<\/a>. The single, easy-to-use multi-currency account makes it easy for UK businesses to manage their global cash flow on a local level, allowing them to receive, hold, exchange and send international business payments in multiple currencies.<\/p>\n\n\n\n<p>What\u2019s more, you can enjoy full control and visibility over your finances thanks to clear payment histories and tracking.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"multi-currency-solutions-how-luminor-and-transfer-go-differ\">Multi-currency solutions: How Luminor and TransferGo differ<\/h2>\n\n\n\n<p>The <a href=\"https:\/\/www.transfergo.com\/gb\/business\/account\">TransferGo Business Account<\/a> supports over 35 currencies in more than 60 countries. Business owners can lock in the best exchange rates for future transactions and take advantage of lower rates for high-volume payments. TransferGo Business customers can hold accounts in GBP, EUR, RON, PLN and more.<\/p>\n\n\n\n<p>Meanwhile,<a href=\"https:\/\/www.luminor.lv\/en\/business\" target=\"_blank\" rel=\"noopener\"> Luminor business<\/a> transfers are a lot more limited with the bank only supporting transfers in the following currencies: AUD, CAD, CHF, CZK, DKK, EUR, GBP, HUF, JPY, NOK, PLN, SEK and USD.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"576\" width=\"1024\" src=\"https:\/\/www.transfergo.com\/gb\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-2.jpg?resize=1024,576\" alt=\"A bearded male in a suit smiles as he reads an article on his phone about TransferGo vs Luminor Business\" class=\"wp-image-167703\" srcset=\"https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-2.jpg 1500w, https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-2.jpg?resize=300,169 300w, https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-2.jpg?resize=768,432 768w, https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-2.jpg?resize=1024,576 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"comparing-fees-and-hidden-costs-luminor-vs-transfer-go\">Comparing TransferGo vs Luminor Business fees <\/h2>\n\n\n\n<p>TransferGo is free to sign up and subscribe to. Its transparent pricing means no hidden fees and there are zero fees on major routes. What\u2019s more, transfer margins are as low as 0.35%. This helps business owners keep their expenses down and maximise their profits.<\/p>\n\n\n\n<p>Meanwhile, Luminor offers a choice of different business account plans with fees ranging from 7 EUR to 18 EUR a month. Payments in euros cost 0.40 EUR with urgent payments costing 25 EUR. Payments in other currencies are considerably more expensive.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"market-reach-supported-countries-and-currencies\">Market reach: Supported countries and currencies<\/h2>\n\n\n\n<p>With a <a href=\"https:\/\/www.transfergo.com\/gb\/business\/account\">TransferGo Business Account<\/a>, you can transfer money to more than 60 countries in over 35 currencies, allowing you to reach your global partners easily. Meanwhile, Luminor Business payments are limited to just 13 currencies.<\/p>\n\n\n\n<p>Plus, TransferGo Business is constantly working on expanding its destination market. Don\u2019t see your country listed at the moment? Watch this space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"speed-of-payments-which-platform-delivers-faster-transfers\">Speed of payments: Which platform delivers faster transfers?<\/h2>\n\n\n\n<p>TransferGo is known for its super-speedy payments, with most transfers arriving in minutes and there&#8217;s a 97%+ faster-than-promised delivery time. This gives business owners total peace of mind in terms of paying suppliers on time and keeping their cash flow going.<\/p>\n\n\n\n<p>Meanwhile, Luminor\u2019s speed of payments depends on the currency and type of transfer. Euro payments are usually processed and delivered within one working day.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"user-experience-transfer-go-vs-luminor-for-businesses\">User experience: TransferGo vs Luminor for businesses<\/h2>\n\n\n\n<p>TransferGo\u2019s new interface is simple and super-sleek with customers finding it user-friendly and easy to navigate. Its mobile-friendly design also allows you to send and track transfers on the go, giving you added control over your finances and transactions.<\/p>\n\n\n\n<p>Meanwhile, the Luminor Business Account platform is a lot less sophisticated with some options and pages proving difficult to navigate on the website.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"security-and-compliance-ensuring-business-transactions-are-safe\">Security and compliance: Ensuring business transactions are safe<\/h2>\n\n\n\n<p>As two of the leading business payment platforms in the financial sphere, both TransferGo and Luninor take security and compliance extremely seriously, complying with laws and regulations and using advanced encryption to keep your money safe.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"customer-support-comparison-luminor-vs-transfer-go-for-businesses\">Customer support comparison: Luminor vs TransferGo for businesses<\/h2>\n\n\n\n<p>TransferGo has an excellent reputation when it comes to customer support. Its dedicated team speaks 9 languages and addresses 80% of enquiries within just two hours. It\u2019s no wonder then that its average customer rating on <a href=\"https:\/\/www.trustpilot.com\/review\/transfergo.com\" target=\"_blank\" rel=\"noopener\">Trustpilot<\/a> is 4.7\/5.<\/p>\n\n\n\n<p>Meanwhile, at 2.8\/5, Luminor has a much lower average customer score on <a href=\"https:\/\/uk.trustpilot.com\/review\/www.luminor.lt\" target=\"_blank\" rel=\"noopener\">Trustpilot<\/a>, with customers complaining about the monthly charges and difficulties with getting set up.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"integrations-for-businesses-accounting-and-erp-system-compatibility\">Integrations for businesses: Accounting and ERP system compatibility<\/h2>\n\n\n\n<p>While Luminor does not provide its customers with the option to integrate third-party applications in the way that <a href=\"https:\/\/www.transfergo.com\/gb\/transfergo-vs-revolut-business\">Revolut<\/a> does, it does provide some special <a href=\"https:\/\/www.luminor.lv\/en\/offers-businesses\" target=\"_blank\" rel=\"noopener\">offers<\/a> on essential business tools such as <a href=\"https:\/\/app.lokalise.com\/projects\" target=\"_blank\" rel=\"noopener\">Lokalise<\/a> and <a href=\"https:\/\/www.pipedrive.com\/en\/gettingstarted-crm?&amp;utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=MK-GB_LG-EN_OB-CONV_YR-AO_QR-AO_CN-Brand-Exact_CH-SEA_PM-GADS_CT-BRD_SG-PROSP_JN-None&amp;utm_content=AG-Core_PB-Google_CF-TXTAD_PF-TEXT&amp;utm_term=pipedrive&amp;cid=337592833&amp;aid=21722537353&amp;tid=kwd-35635346868&amp;gad_source=1&amp;gclid=CjwKCAiAt4C-BhBcEiwA8Kp0CYB9TiMrCaSjgZJc3qKcFBczR0mSXUbRuTuhQn85vOxRY0u1Qy6m_BoCEVsQAvD_BwE&amp;gclsrc=aw.ds\" target=\"_blank\" rel=\"noopener\">Pipedrive<\/a>.<\/p>\n\n\n\n<p>Meanwhile, TransferGo\u2019s focus is on making payments super simple with its easy-to-use and fuss-free navigation, which removes the need for complex integrations. This is why TransferGo\u2019s set-up costs stay free.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"576\" width=\"1024\" src=\"https:\/\/www.transfergo.com\/gb\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor.jpg?resize=1024,576\" alt=\"A young bearded male in a checked shirt sits at a table in a restaurant, drinking coffee and reading an article on his laptop about TransferGo vs Luminor Business\" class=\"wp-image-167714\" srcset=\"https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor.jpg 1500w, https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor.jpg?resize=300,169 300w, https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor.jpg?resize=768,432 768w, https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor.jpg?resize=1024,576 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"advantages-and-drawbacks-for-businesses\">Advantages and drawbacks for businesses<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"advantages-and-drawbacks-of-luminor-for-businesses\">Advantages and drawbacks of Luminor for businesses<\/h3>\n\n\n\n<p>To finalise our comparison of TransferGo and Luminor Business, let\u2019s look at the pros and cons of signing up for a Luminor business bank account.<\/p>\n\n\n\n<p><strong>Pros<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Luminor Bank offers physical branches in Latvia and Lithuania\u2014great for customers who prefer in-person support<\/li>\n\n\n\n<li>Physical debit and credit cards available<\/li>\n<\/ul>\n\n\n\n<p><strong>Cons<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>When it comes to international payments, Luminor supports limited currencies<\/li>\n\n\n\n<li>Business plans come with monthly fees<\/li>\n\n\n\n<li>Further fees apply for international payments with express delivery<\/li>\n\n\n\n<li>Average customer support reviews <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"advantages-and-drawbacks-of-transfer-go-for-businesses\">Advantages and drawbacks of TransferGo for businesses<\/h3>\n\n\n\n<p>Now that we\u2019ve explored the pros and cons of Luminor, let\u2019s explore the advantages and disadvantages of a <a href=\"https:\/\/www.transfergo.com\/gb\/business\/account\">TransferGo Business Account<\/a>. So how does it compare? Let\u2019s take a look.<\/p>\n\n\n\n<p><strong>Pros<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sign-up is completely free with no monthly fees<\/li>\n\n\n\n<li>Low fees and excellent exchange rates<\/li>\n\n\n\n<li>Super-fast transfers that reach their destination in minutes<\/li>\n\n\n\n<li>Easy currency exchange for businesses with the option to hold balances in GBP, EUR, RON, PLN and more<\/li>\n\n\n\n<li>Excellent customer support team with a 4.7\/5 rating on Trustpilot<\/li>\n<\/ul>\n\n\n\n<p><strong>Cons<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>At the moment, integration with accounting tools is not possible (but watch this space)<\/li>\n\n\n\n<li>While TransferGo supports over 60 countries in 35+ currencies, some countries and currencies are not yet supported by TransferGo\u2014but keep your eyes peeled for more updates<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion-choosing-the-right-platform-for-your-business-needs\">Conclusion: Choosing the right platform for your business needs<\/h2>\n\n\n\n<p>Deciding on the best business banking platform depends on your business needs and preferences. If you want a business account you can rely on that keeps your expenses down and streamlines your existing business operations, the <a href=\"https:\/\/www.transfergo.com\/gb\/business\/account\">TransferGo Business Account <\/a>is an excellent option.&nbsp;<\/p>\n\n\n\n<p>It\u2019s free to sign up and there are no monthly fees; plus, you can send money to over 60 countries in 35+ currencies swiftly and seamlessly thanks to its low-cost international payments for businesses. It\u2019s no wonder then that 40% of TransferGo\u2019s customers come from word-of-mouth recommendations!<\/p>\n\n\n\n<p>Ready to reimagine the way you handle international payments? <a href=\"https:\/\/my.transfergo.com\/en\/user\/business\/welcome\" target=\"_blank\" rel=\"noopener\">Sign up<\/a> for TransferGo today!<\/p>\n\n\n\n<p>______________<\/p>\n\n\n\n<p><em>The information provided in this TransferGo vs Luminor Business post is for general informational purposes only and reflects the author\u2019s personal opinion. Any comparisons made between TransferGo and other businesses are intended to highlight differences and provide a fair overview, based on publicly available information as of the date of publication.<\/em><\/p>\n\n\n\n<p><em>While every effort is made to ensure the accuracy of the content, we make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date. We encourage readers to independently verify any claims or information presented in this TransferGo vs Luminor Business post.<\/em><\/p>\n\n\n\n<p><em>Any references to other companies, products, or services do not imply endorsement or affiliation with TransferGo, and we do not accept responsibility for the actions, products, or services of third parties.<\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re curious about the best business payment platforms for your business needs, you\u2019ve come to the right place. Here, we explore and compare two of the main online payment providers for businesses: TransferGo Business vs Luminor Business. We uncover everything from fees and market reach to customer support, integration tools and speed of payments [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":167692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1498,1499],"tags":[],"business_case_studies_tags":[],"class_list":["post-167646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-payments-guides"],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/transfergo.com\/gb\/transfergo-vs-luminor-business","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TransferGo vs Luminor Business: Which service is best for businesses?","url":"http:\/\/www.transfergo.com\/gb\/transfergo-vs-luminor-business","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.transfergo.com\/gb\/transfergo-vs-luminor-business"},"thumbnailUrl":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-1.jpg?resize=150,150","image":{"@type":"ImageObject","url":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-1.jpg"},"articleSection":"Payments guides","author":[{"@type":"Person","name":"Jennifer Tate"}],"creator":["Jennifer Tate"],"publisher":{"@type":"Organization","name":"TransferGo","logo":""},"keywords":[],"dateCreated":"2025-02-27T09:49:27Z","datePublished":"2025-02-27T09:49:27Z","dateModified":"2025-02-27T11:57:02Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TransferGo vs Luminor Business: Which service is best for businesses?\",\"url\":\"http:\\\/\\\/www.transfergo.com\\\/gb\\\/transfergo-vs-luminor-business\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.transfergo.com\\\/gb\\\/transfergo-vs-luminor-business\"},\"thumbnailUrl\":\"https:\\\/\\\/www.transfergo.com\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/TransfergovsLuminor-1.jpg?resize=150,150\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.transfergo.com\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/TransfergovsLuminor-1.jpg\"},\"articleSection\":\"Payments guides\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jennifer Tate\"}],\"creator\":[\"Jennifer Tate\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"TransferGo\",\"logo\":\"\"},\"keywords\":[],\"dateCreated\":\"2025-02-27T09:49:27Z\",\"datePublished\":\"2025-02-27T09:49:27Z\",\"dateModified\":\"2025-02-27T11:57:02Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/transfergo.com\/p.js"},"jetpack_featured_media_url":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2025\/02\/TransfergovsLuminor-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/posts\/167646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/comments?post=167646"}],"version-history":[{"count":24,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/posts\/167646\/revisions"}],"predecessor-version":[{"id":167797,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/posts\/167646\/revisions\/167797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/media\/167692"}],"wp:attachment":[{"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/media?parent=167646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/categories?post=167646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/tags?post=167646"},{"taxonomy":"business_case_studies_tags","embeddable":true,"href":"https:\/\/www.transfergo.com\/gb\/wp-json\/wp\/v2\/business_case_studies_tags?post=167646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}