TransferGO launches the real-time local transfer service in Romania

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TransferGO, a fintech company based in London, is launching the local transfer service in Romania.

The service is free of charge and will allow the fintech’s clients to send money to other TransferGO customers, but also to their relatives or friends who have the app installed yet.

The local transfer service in real time is launched in the Romanian beta version as of this month. Money transfers from Romania and to Romania represent around 20% of the total transfers made by the TransferGO clients worldwide.

“Time is the most valuable resource for our customers, and with the new offer of local transfers in real time, we reduce the waiting times close to 0. This facility for the local market comes to complement the fast and free transfers that have convinced over one million of Romanians to use our services to send money from abroad to the house. The local TransferGo real-time transfer service is ideal for fast payments between friends, family members and acquaintances because it is safe, fast and simple,” said Marius Nedelcu, Country Manager Romania TransferGo.

According to a recent survey commissioned by TransferGO, 8 in 10 Romanians send or receive money by transfer mobile apps, while most of the transactions (86%) are among family members.

The above-mentioned survey shows that at least 1 in 3 Romanians transfer money very often to buy online products  or to cover the current expenses. The poll also reveals that one third of the respondents transfer sums from RON 101 to RON 250, while a quarter transfer less than RON 50.

Young men, from the Millenials or X generation (average age of 35 yo) are the most enthusiastic users of the money transfer apps.

According to the cited study, they have monthly average incomes of over 3,500 lei.

The most popular method of sending money to friends and family is the transfer to the bank account (via internet or smartphone application), with 75% of respondents, followed by the deposit of money in the bank (34% of the respondents) and cash payment. The study was conducted on a nationally representative sample of 600 respondents. 95% confidence level, error +/- 4.

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