Legal company nameInterpay UK ltd · InterPay Limited · TransferMate PTY Limited · TransferMate PTE Ltd
Year founded2010
Headquarters / registered countryBelfast, United Kingdom
Websitewww.transfermate.com
Last checked08.10.2026
According to its official website, TransferMate provides embedded B2B payments infrastructure to banks, financial institutions, software providers, e-commerce companies and education institutions; it was founded in 2010 by Terry Clune. It states that payments can be made to more than 200 countries and territories in more than 140 currencies, that it owns a payments network made up of 100 licences and that it processes more than 3 million transactions and over USD 75 billion in funds a year. Services include embedded payments via API, international receivables, Global Accounts with virtual accounts in more than 35 currencies, FX forward contracts and payments by students to universities. The site states that in the United Kingdom Interpay UK Ltd is authorised by the FCA as an electronic money institution (900930), that in the EEA InterPay Ltd is authorised by the Central Bank of Ireland as an electronic money institution, that in Australia TransferMate PTY Ltd holds an ASIC licence (AFSL 514851) and in Singapore TransferMate PTE Ltd holds a MAS Major Payment Institution licence (PS20200412), and that it also holds money transmitter licences in US states and licences and registrations in Hong Kong, Malaysia, Mexico, the Philippines, Canada and New Zealand. This information is the company's own statement.
Account Details
ACCOUNT TYPESBusinesses, financial institutions and education institutions (including student payments)
MIN. DEPOSITNot stated
PLATFORMSTransferMate online portal · API integrations
PRODUCTSEmbedded payments (API) · International receivables · Virtual accounts in 35+ currencies (Global Accounts) · FX forwards · Education payments
Licences and regulation
FCA (United Kingdom)
Licence no.FRN 900930
Licence holderInterpay UK ltd
ScopeListed in the FCA register as an Authorised Electronic Money Institution under Interpay UK ltd (FRN 900930) since 3 Oct 2019.
StatusVerified
CBI (Ireland)
Licence no.C42802
Licence holderInterPay Limited
ScopeListed in the CBI register under InterPay Limited (reference C42802; trading names Transfermate, Transfermate Global Payments, Pay to Study) as an e-money institution authorised under the Electronic Money Regulations 2011 and as a PSD2 payment institution.
StatusVerified
ASIC (Australia)
Licence no.AFSL 514851
Licence holderTRANSFERMATE PTY LIMITED
ScopeListed in the ASIC licence dataset under TRANSFERMATE PTY LIMITED as AFSL 514851 (since 19 Dec 2019, Sydney); authorised for non-cash payment products and foreign exchange contracts for retail and wholesale clients.
StatusVerified
MAS (Singapore)
Licence no.PS20200412
Licence holderTransferMate PTE Ltd
ScopeThe company states that TransferMate PTE Ltd is authorised by MAS as a Major Payment Institution (PS20200412). The record could not be verified because the MAS register could not be read.
StatusPending verification
BNM (Malaysia)
Licence no.00750
Licence holderTransfermate Malaysia Sdn Bhd
ScopeThe company states that Transfermate Malaysia Sdn Bhd is regulated by the Central Bank of Malaysia (BNM) (licence 00750). The record could not be verified because the BNM register could not be read.
ScopeThe company states that TransferMate Philippines Corporation is authorised by Bangko Sentral ng Pilipinas as a money service business (60-00859-0-00000). The record could not be verified because the BSP register could not be read.
StatusPending verification
C&ED (Hong Kong)
Licence no.MSO 19-06-02799
Licence holderTransfermate HK Ltd
ScopeThe company states that Transfermate HK Ltd holds a Money Service Operator licence from the Hong Kong Customs and Excise Department (19-06-02799). The record could not be verified because the register could not be read.
StatusPending verification
User complaints
User reports found online are classified by topic. The charts show how reports are distributed; the reports are compiled from records on platforms that verify users and screen out fake reviews.
Period reviewed: April 2019 – October 2026
Withdrawal / payment: 24
Account / trading conditions: 18
Identity verification: 13
Customer support: 4
Other: 2
No. 239 for most complaints among the 532 institutions with complaint records (918 institutions listed on the site).
The complaint distribution is based on the 1-star reviews on TransferMate's Trustpilot page (61) as of 8 October 2026; one person's reviews count once, and records about fake sites and third parties using the TransferMate name are left out. Across the complaints, tuition payments and refunds that were delayed or never reached the recipient, exchange-rate differences and extra fees, and verification processes prolonged by repeated document requests stand out.
Sources and verification history
Official company sourcestransfermate.com — homepage, About Us and Regulations pages
Tickmill
Garnet Trade
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