Transfast - Independent Review

Transfast services to India, the Philippines and 49 other countries reviewed by experts

Low fees and great, locked-in exchange rates Large network of +200,000 payout locations in the World Instant deposit to partner banks in India, Philippines and more



Transfast review by Monito

Transfast (formerly known as Trans-Fast) is an international money transfer company founded in 1988. Through its website and mobile apps (Android and Apple), you can send money from the US and Canada to 51 countries in the world 24/7. Their support is available by chat, phone and email, and Transfast provide a money back guarantee if your money is not delivered.

You can pay for your money transfer in US dollars (USD) or Canadian dollars (CAD) via a bank transfer, or pay by debit or credit card. You can choose between various pay-out methods such as bank deposit, cash pickup, cash home delivery, deposit to a cash card, bill payment when available. For cash pickup you can send money to a network of over 200,000 agent locations in the world, thanks to Transfast partnerships with many banks and retail locations.

Transfast’s exchange rates are locked in, meaning that the exchange rate you see when you make your transfer is the same exchange rate that will be applied to your money transfer. No surprises.

With almost 30 years in business, Transfast is a serious and trustworthy digital alternative to the traditional money transfer services or banks. Transfast offers very competitive prices, a strong customer support, and an extensive payout network. You should not expect any additional services or fuss, it’s to the point and effective.


PROS
  • Low fees and great, locked-in exchange rates
  • Large network of payout locations
  • 24/7 customer service available by chat, phone or email
CONS
  • Only a “Good” (7.3*/10) rating on Trustpilot and A+ on BBB
  • Some confusion around their Value+ vs Fastrack services
  • Relatively low transaction limit

 

Reviews powered by

2,500 customer reviews on Transfast on Trustpilot


12/05/2017
by Sridhar

2 stars

Pathetic customer and Tech support. Switching to other financial institutions!!

I am quitting transfast after using it for an year. Reason is worst and unprofessional customer / Technical support team. For one of my recepient bank...Read more

I am quitting transfast after using it for an year. Reason is worst and unprofessional customer / Technical support team. For one of my recepient bank account, the IFSC code changed. When I try to update the same in transfast website, transaction failed for around 5 times. On checking with customer support they advised me that my recepient account information was still using the old IFSC code and it fails to capture new IFSC code. It has been frustrating since the time I emailed customer support, because they are not even reading the problem and all they tell me is either go ahead and update the receipient account on transfast website or they keep telling me to reach out to receipient bank account instead of fixing their website as to why it was not capturing new ifsc code. I understand now why companies with good business model fail to impress customers because of unprofessional customer support teams. Sridhar

11/23/2017
by Ashish Surjan

1 stars

I have transferred funds to India with …

I have transferred funds to India with Transaction Number: 33TF226390037. The status is reflected as completed but the amount is not credited in recipient...Read more

I have transferred funds to India with Transaction Number: 33TF226390037. The status is reflected as completed but the amount is not credited in recipient account. I talked to transfast chat services and helpline, they are saying to check with recipient bank with UTR number and they cannot do any further from their side. The recipient bank is saying that there is no such credit/funds received by them with mentioned reference number. Really bad experience, looks like there is a risk of loosing the funds.

11/18/2017
by Tim Webster

4 stars

I've been using Transfast for a while …

I've been using Transfast for a while now. Their website is easy to use and the money is transferred within 24 hours. Sending the same amount again is...Read more

I've been using Transfast for a while now. Their website is easy to use and the money is transferred within 24 hours. Sending the same amount again is very fast to do on the website.


More reviews

11/15/2017
by Abraham Omeyoma

5 stars

I like the express money transfer

I like the express money transfer. Money is delivered to the account within 24hours. Perfect!

11/14/2017
by Narcis Paruntu

1 stars

I still have the same issue that I …

I still have the same issue that I cannot add one more new recipient at my recipient’s list. Eventhough, you kept saying you had transfer this issue to...Read more

I still have the same issue that I cannot add one more new recipient at my recipient’s list. Eventhough, you kept saying you had transfer this issue to your IT management. That’s why I sent $ 50 to my old recipient instead of new recipient. I asked my old recipient to give the money to new recipient. So, I decided just use my only one old recipient then. I am glad you had raised my limits of sent money, from $ 200 to $ 350.

11/14/2017
by Edozie Orji

5 stars

Good

Good, fast and reliable services

11/07/2017
by Madeline Hayes

5 stars

Very happy with Transfast

Very happy with Transfast, it took a while to get started, but once we got everything sorted out the transfer went through with no problems. I will...Read more

Very happy with Transfast, it took a while to get started, but once we got everything sorted out the transfer went through with no problems. I will defiantly use Transfast again if I ever have to send money. Great Company to deal with. Great job I did more than one transfer

11/07/2017
by Lawrence W Yates

4 stars

I enjoy using Transfast and it is …

I enjoy using Transfast and it is simply to use, when I have a problem with transaction, customer support are very big helpful to get it straight out for...Read more

I enjoy using Transfast and it is simply to use, when I have a problem with transaction, customer support are very big helpful to get it straight out for me. Only thing I not like about it, is that I can't send less than $50 which is your minimum amount to send, I sometime want to send $25-50, which I can afford to help my peoples in Philippines.

11/07/2017
by F. I.

4 stars

Fast and easy service

Swift, smooth, and super convenient transactions 99% of the time. Thanks, Transfast!

11/07/2017
by Shea W.

5 stars

So convenient !!!

I love Transfast it’s so convenient I don’t even have to leave my House to send Money !!

11/07/2017
by Irwan Putra

5 stars

Fast, Easy, and Cheap!

Two things that I want from a remittance company to send my money overseas: 1. Fast, 2. Easy. Transfast has it all, the process is very straightforward...Read more

Two things that I want from a remittance company to send my money overseas: 1. Fast, 2. Easy. Transfast has it all, the process is very straightforward and it took a couple days for my first transfer. And for my second transfer, it only took a couple hours! In addition to that, the service fee is really really cheap! Its exchange rate is still comparable to other remittance companies. But, I can't complain for what I got from transfast. I definitely recommend this to anyone.

11/02/2017
by Thomas Hagstrom

5 stars

Transfast is available 24-7 for …

Transfast is available 24-7 for customer service and works hard to address my concerns

11/01/2017
by vanessa

5 stars

Fast and reliable service!

Fast and reliable service!

10/21/2017
by ben

5 stars

Easy and reliable

Easy and reliable

10/19/2017
by Qwerty007

5 stars

Customer service were splendid and easy …

Customer service were splendid and easy to talk to. transaction was fast and I had no issue what so ever.

10/19/2017
by sanmmy romeo

5 stars

I had to send to money my brother …

I had to send to money my brother outside the USA....even tho the money was much they made sure they verified I was the on sending the money and my...Read more

I had to send to money my brother outside the USA....even tho the money was much they made sure they verified I was the on sending the money and my account wasn’t use for fraud....and it was very fast and efficient will definitely keep using and recommend

10/19/2017
by Shea W.

5 stars

Very fast and convenient service I love

Very fast and convenient service I love Transfast !!!

10/13/2017
by IFEZUE/CHIKE

5 stars

Excellent service

Excellent service. Trustworthy and reliable. I only hope that additional countries are added to the list of countries you serve. Great experience...Read more

Excellent service. Trustworthy and reliable. I only hope that additional countries are added to the list of countries you serve. Great experience utilizing Transfast.

10/12/2017
by Derick Isaac

3 stars

for the instant transfer

for the instant transfer, the exchange rate deduction is mean.

10/12/2017
by Jawad

1 stars

Money is taking longer than a week to …

Money is taking longer than a week to transfer whereas it is being deducted from my account next day. Same receipent I sent money before and received in 3...Read more

Money is taking longer than a week to transfer whereas it is being deducted from my account next day. Same receipent I sent money before and received in 3 days so Transfast is not consistent! I am still waiting money to reach that is needed for surgery. I will never trust transfast as it happened 4 th time!

10/02/2017
by Zubair Patel

2 stars

Can't do multiple transfer.

Good service and good exchange rate but you can't do multiple transfer, at any given time only one transfer can be in process.

09/28/2017
by al

5 stars

Consistent service and quality and of …

Consistent service and quality and of course great rates. One amazing thing is they have a phone line that is always open basically a zero wait time and...Read more

Consistent service and quality and of course great rates. One amazing thing is they have a phone line that is always open basically a zero wait time and that is important when dealing with monetary transactions. The one improvement I would like to see is maybe push notifications for app so notify you when transaction is finished rather than having to login often to check it on your own but that is just a nice to have.

09/28/2017
by Maria Leonora Wilcox

5 stars

Great Transaction

Great Transaction! Fast and Convenient! Trusted Remitance and Highly Recommended

09/28/2017
by Mcs 0528

5 stars

Very nice service.Quick and reliable …

Very nice service.Quick and reliable service.

09/22/2017
by Harry S

5 stars

Fast

Fast, reliable, and economical. I highly recommend Transfast.

09/22/2017
by Bruce hendrickson

5 stars

Transfast has been the easiest and …

Transfast has been the easiest and fastest money transfer service I have ever used. I also like how their exchange rates are above average consistently. I...Read more

Transfast has been the easiest and fastest money transfer service I have ever used. I also like how their exchange rates are above average consistently. I have been using transfast for a few years now. And I have never been disappointed. Great company, Great service, and Great results!

09/15/2017
by C. N.

5 stars

More Than Satisfied Customer!

Very fast and easy! My new go-to for sending money internationally! Highly recommended! Thanks!

09/15/2017
by Vebi Vb

4 stars

Transfer Fast

At first the process is kinda complicated die to the security checked. I wasn't able to pick up the phone due to tight up.with some meetings in the office...Read more

At first the process is kinda complicated die to the security checked. I wasn't able to pick up the phone due to tight up.with some meetings in the office and a few minutes later they rejected my transaction without 2nd follow up. It was sad since I need the money for my parents overseas after waiting for 3-4days for nothing. I called the customer service they reason of the rejection and asked them to please continue making the transfer but that's not possible . They suggested me to try again and I did. I don't want to miss the security check anymore so that the transaction can be push thru. The security checked all the details and yeah.. after the complications in the first transaction I can find finally do the 2nd and 3rd transactions without any problems and indeed ... It was really fast. Sometimes my mom in Indonesia get the money 2 days after I transfer from USA. The currency is not too bad. Transfast do a good job by screening all the background as their security check and yeah.. I am happy with their service. Transfast ... Is a real Transfer Fast

09/14/2017
by Bryan Luoma

5 stars

I've been using Transfast for a long …

I've been using Transfast for a long time and have had no issues and have been impressed by their customer service. I'd recommend to everyone.

09/14/2017
by Shea W.

5 stars

Very fast transfer method I love …

Very fast transfer method I love Transfast




Can I trust Transfast ?

Transfast is a licensed money transmitter in 37 US states, 5 Canadian provinces, in the EU, and in India.

Transfast takes the security of your money seriously, with a 256-bit encryption of your data, a Norton Secured website and TRUSTe certificate. They will process every transfer using the Verified Visa and MasterCard SecureCode services.

Almost 10% of its workforce is employed in the compliance department to avoid fraud and money laundering.

Transfast is a private company, backed by GCP Capital Partners, a $1.3 billion private equity firm. The company has been in business for almost 30 years, and received various awards such as Kalahari’s “Best Remittance Service Award”.

Transfast is trusted by millions of customers and process over $6.8 billion in transfers annually. 2,327 customers gave Transfast a “Good” rating on TrustPilot with 4 out of 5 stars.




How Transfast works

    1. Select the country you’re sending money to and the amount you would like to transfer.
    2. Select the service you would like to use between Value+ and Fastrack (quicker but more expensive).
    3. Create an account and enter the recipient and payout informations.
    4. Fund your money transfer. You can choose between a bank transfer or paying by debit or credit card.

Some transfers might be held for a brief period because Transfast might need to verify a few things from a fraud and compliance standpoint. You might also need to verify your identity and share some documents (Social Security Number, Driver’s License or Passport, and proof of funds)


 

Transfast India

Transfast is a popular choice to send money to India, thanks to Transfast’s network of partners in India and its own payout network.

Bank deposit in India with Transfast

You can make instant bank deposit 24/7/365 with Transfast to the following banks: HDFC, Yes, Federal, Axis, Andhra, Bank of Baroda, Canara Bank, Catholic Syrian Bank, CUB, Corporation Bank, Dena Bank, ICICI Bank, Indian Bank, Indian Overseas Bank, Kotak, Punjab National Bank, South Indian Bank, State Bank of India, UCO Bank, Union Bank of India.

Transfast can also make deposits to CitiBank, although the instant service is not available.


Cash pickup in India with Transfast

The beneficiary can pick up cash at 34,000+ locations nationwide in India with partners like Muthoot Finance, Manappuram Finance Ltd, Muthoottu, Ahalia, Kosamattam Group and more.


Send money to India with Transfast

Transfast Philippines

Bank deposit in the Philippines with Transfast

You can send money to all banks in the Philippines. Instant credit is available in the Philippines with Transfast for BDO, PNB, and Metrobank accounts. Deposit in a few hours is available for BPI accounts..


Cash pickup in the Philippines with Transfast

More than 15,000 cash pickup locations are available in the Philippines with Transfast’s partners: M Lhuillier, Cebuana Lhuillier, Palawan Pawnshop, BDO, LBC and more.


Other delivery methods to the Philippines with Transfast:

More than 15,000 cash pickup locations are available in the Philippines with Transfast’s partners: M Lhuillier, Cebuana Lhuillier, Palawan Pawnshop, BDO, LBC and more.

  • Bill payment: you can pay bills directly for 150+ partners including SSS, Pag-IBIG and PhilHealth.
  • Home delivery: In metro Manila, key cities and nearby provinces, cash can be delivered within 24 hours.
  • Cash Card: you can instantly credit a NYBR-issued Transfast Cash Card, NYBR-issued BDO Cash Card or a Smart Cash Card.

Send money to the Philippines with Transfast

Transfast Mexico

Bank deposit in Mexico with Transfast

You can send money to all major banks in Mexico. Deposit is made in 1 to 5 business days after the transfer’s approval to: BBVA Bancomer, Banorte, BanCoppel, Banamex, Santander and more


Cash pickup in Mexico with Transfast

More than 22,000 cash pickup locations available in Mexico with Transfast.



Ask questions or share your comments on Transfast




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Key facts about Transfast

Service information

Time to open an account -
Minimum amount -
Maximum amount -
Available languages
English
Personnal transfers Yes
Business customers No
Advanced currency contracts No
Required documents -

Company information

Type of service provider Online money transfer operators
Active since 1988
Headquarter New York

Contact information

Contact support -
Service hour -


Find the best provider for your next transfer

The cost of sending money depends on the amount of money sent, the countries you're sending between, and the type of transfer. Make sure to compare before each of your transfers as costs also vary through time.

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