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

2,457 customer reviews on Transfast on Trustpilot


08/01/2017
by Shea W.

5 stars

Fast and convenient service !!!!

I will be getting married in Nigeria September of this year and thank God for Transfast they have made sending Money so fast and convenient for me !!!

08/01/2017
by Lawrence W Yates

3 stars

I prefer that I be able to send at …

I prefer that I be able to send at least 25usd instead the mandated amounts of 50usd, which would be much easier on my budget.33TF

08/01/2017
by Jane Galbreath

4 stars

Fast and easy to use

Very fast, very easy to use money transfer service. Only glitch I have encountered is trying to transfer money to India. It didn't go through, but took...Read more

Very fast, very easy to use money transfer service. Only glitch I have encountered is trying to transfer money to India. It didn't go through, but took a month or longer to receive the notice that it hadn't gone through. I figured it out a couple weeks later when I realized I hadn't received a confirmation notice. Otherwise, every time I have sent money, whether the $4.99 quick service or the free four to five day service, it took less than two minutes to set up the request and send it, and the confirmation was fast as well.


More reviews

07/30/2017
by Sri

5 stars

Very fast service

Very fast service

07/29/2017
by Sanjay Gupta

5 stars

just few clicks, friendly interface and job is done..!!

even it was not for $5, it would be my honest opinion. out of my 12 Txn to India, 8 is from transfast, as I always get the best rate here. you guys always...Read more

even it was not for $5, it would be my honest opinion. out of my 12 Txn to India, 8 is from transfast, as I always get the best rate here. you guys always beat other rates. and guess what I don't have to pay any fee unlike transfer wise. and notification I get on certain intervals makes me relax about my transaction. just a few clicks, friendly interface and job is done. Thanks, Guys..!!

07/29/2017
by Harumi Musakami

1 stars

trans-not-fast

I transferred money to my home country. After few days I checked the status in my dashboard, and it says 'cancelled'. I received no email, no SMS...Read more

I transferred money to my home country. After few days I checked the status in my dashboard, and it says 'cancelled'. I received no email, no SMS notifications if my transaction was cancelled. But my money was deducted from my bank account. I asked the customer representative what's going on. And after they checked he said the recipient bank rejected the transfer because they need the SWIFT code. So?? When I filled up the form, none of the fields asked me to provide one. And the bank automatically rejected the transfer. SO????? What am I supposed to do? If you know there is a probability that the bank will reject if you don't provide the SWIFT code (from the chat TRANSFAST seems to know about this probability), why don't you ask me to provide this information. Or you can collect this information from this website ifscswiftcodes.com. And it takes 5-7 days to get the refund. Such a mistake to switch to Transfast. I just wish that I will really get my money back within 5-7 days as promised or you can change your name to Transnotfast.

07/27/2017
by TAIWO OYEBADE

4 stars

I love using Transfast

I love using Transfast. Their rates are good and they are very fast.

07/25/2017
by Anudeep Vanjavakam

1 stars

I am giving one star only because there …

I am giving one star only because there is no option to give zero. I have initiated the transaction on July 17th, I have received the notification to...Read more

I am giving one star only because there is no option to give zero. I have initiated the transaction on July 17th, I have received the notification to verify my bank account on 19th and I verified it on the same day immediately. When I ask an estimate of when the transaction would be completed, they say funds will be released on 25th. Where on earth is this 3-5 business days? Transfast does nothing but false claims - blames the delay on customer's side. I regularly use transfer services and they are far more reliable and quicker than Transfast. oh! It has the worst customer service too. I never really write a review. So, you could imagine how it treats customers.

07/25/2017
by Akashdeep

1 stars

Non reliable

1. Money never reaches on time. My needs are timebound. But money never reached on promised date. 2. Even when you are logged in to the account, the chat...Read more

1. Money never reaches on time. My needs are timebound. But money never reached on promised date. 2. Even when you are logged in to the account, the chat associate needs you to authenticate by answering series of questions. The person who has logged onto the account would have access to those details anyway. Isn't that simply waste of time? 3. After answering series of questions for 'security' reasons, the only response you would receive is asking you to wait for some more time. What a secure information !!! 4. Other competitors offer more reliable service. Remitly, Remitr, Transferwise, SBI Canada etc.

07/23/2017
by Naveen Yadav

1 stars

recipient not received a single penny

I did my first transfer using transfast and after delay of several days it showed that transaction is complete now but the recipient bank account has not...Read more

I did my first transfer using transfast and after delay of several days it showed that transaction is complete now but the recipient bank account has not been credited with the money. I am emailing transfast the latest bank statements from past 2 days to show that money was not received. bad service, i am dreading that my money will be lost. Don't use their service

07/22/2017
by Samuel

5 stars

Good company

I know this service is best for me and among best means for international and local transaction

07/22/2017
by Raoul

4 stars

Good job.Easy and fast

Good job.Easy and fast

07/22/2017
by David McCord

5 stars

Always excellent service

Always excellent service. There is always someone to help with any problems you might have. And when set up properly for large sums of money the are...Read more

Always excellent service. There is always someone to help with any problems you might have. And when set up properly for large sums of money the are rather expedient.

07/19/2017
by al

4 stars

Overall have had a good experience with …

Overall have had a good experience with Transfast.... The service is relatively fast for transfers and the rates are good. At one point though the...Read more

Overall have had a good experience with Transfast.... The service is relatively fast for transfers and the rates are good. At one point though the security checks were overbearing but they seem to have fixed that issue now and aren't overdoing it with too many security checks. When I say security checks I mean making you call them and verifying it is you multiple times a month. I think they realize you need balance and shouldn't annoy customer so they likely adjusted their protocols to compensate for that. I would recommend giving Transfast a try it really is the best overall option and everything can be done from the comfort of your home for transfers. No hidden fees and options to pick services that fit your transfer needs such as 1 day transfers if it is urgent or 3 to 5 day service for no rush transfer.

07/19/2017
by Proz Joaquin

4 stars

very good in service

very good in service

07/19/2017
by Bala

5 stars

Transfast is awesone

I used transfast to send money to India and the US.They give the best rates and transfer is secure and quick.

07/13/2017
by Anthony

1 stars

Transfast and Westetn Union suck!!

I decided to use Transfast because, not only were their rates lower than Western Union, they had a better exchange rate as well. I sent my money and paid...Read more

I decided to use Transfast because, not only were their rates lower than Western Union, they had a better exchange rate as well. I sent my money and paid the fee, messaged the recipient to let them know and sent picture of receipt. I receive a call approximately 90 minutes later from the recipient telling me they can't retrieve the money until next day. I get off the phone to call Transfast and I'm told the money was now available from a moment earlier. So, I call the recipient to notify them, but they can not retrieve the money because the bank just closed. Now, the recipient has to travel the 30 minutes to the bank again tomorrow. Transfast will never see my business again. Very poor business practice. Western Union will never see my business again either, they screw you on the exchange rate as well as the fees.

07/11/2017
by Dave

1 stars

Canceled without a reason ..

Just tried sending money. The request was accepted and all looked good until I got a cancelation notice. I called an the agent told me to use another...Read more

Just tried sending money. The request was accepted and all looked good until I got a cancelation notice. I called an the agent told me to use another transfer service. Not sure what this is about, but what a waste of my time. Now I have to find another transfer agent. Ugg.

07/08/2017
by Ali

1 stars

I am an agent

I am an agent, and I am sorry to say that they treat their agents as tissue paper, use em and trash em. They have zero trust on their agents neither they...Read more

I am an agent, and I am sorry to say that they treat their agents as tissue paper, use em and trash em. They have zero trust on their agents neither they appreciate the millions of revenue the agent brings in. I want all the readers to stay away from this company and because they cheat the customers and agents. They give you less rate then competitors and their managers won't even bother to listen to you. Their system is so old that in this era they can't verify if a deposit was made cash and take two days to verify before making it available in your account. Stay Away from this company!!!!

07/07/2017
by Kamal Azfar

5 stars

Excellent Choice with excellent Service

I was super surprise the way TransFast does its job. Previously i used to send money to my home country through Bank, but they charges so high that i had...Read more

I was super surprise the way TransFast does its job. Previously i used to send money to my home country through Bank, but they charges so high that i had to ask some individual to pay my money there and i pay that individual here like western money. But then i heard of TransFast it is really fast and secure way of sending money back home with the most up to date rate exchange.and there is very minimal fess. I am using TransFast for past 3 months and it has served well. Most importantly it covers all financial institute where i want to Transfer the money. Very Happy with the service and support as well.

07/07/2017
by Jana Ezra Merlan

2 stars

Still cant claim

My aunt sent me money from US to Philippines thru transfast last July 2. But when I tried to claim the money, the agents here (Cebuan Lhuillier) said that...Read more

My aunt sent me money from US to Philippines thru transfast last July 2. But when I tried to claim the money, the agents here (Cebuan Lhuillier) said that my second name was put on my middle name so i cant claim the money unless my name in the transaction will be fixed. So I contacted my aunt. She resolved the issue and when I tried to claim it again through Cebuana, they cannot find my transaction number in their system. But when i went to another agent(MLhuillier) they said that my name is still incorrect. How many days does the changing of the recipient's name take place? Or is Transfast just offline this time that they access my reference number? Thank you!

07/04/2017
by Yvone Hebrado

1 stars

Very bad

My dad just remitted money from your branch in Illinois to the Philippines through Banco De Oro and usually it gets few minutes to receive it but just...Read more

My dad just remitted money from your branch in Illinois to the Philippines through Banco De Oro and usually it gets few minutes to receive it but just today it has been already 13 hours and still there is no money in my account. What did just happen? I'm very disappointed and anxious where did our money go? I hope you make an immediate response with regards to this.

06/29/2017
by Panamootil1986

2 stars

Very bad service .

Very bad service .. it's getting bad every time I do transaction with transfast. They are always late . It happened with me couple of times now

06/28/2017
by Maricel Pengelski

5 stars

Transfast is excellent..

Transfast is excellent..

06/27/2017
by David Gatling

5 stars

What can I say

What can I say, your service has been excellent and very professional, i would not hesitate to recommend TRANSFAST to family, friends and anyone else, ...Read more

What can I say, your service has been excellent and very professional, i would not hesitate to recommend TRANSFAST to family, friends and anyone else, your service is fantastic!!!!

06/27/2017
by Mazhar

4 stars

Great Job All the Except once

Great Job All the Except once. Ove All Very Good.

06/27/2017
by aristotle fandino

4 stars

customer agent addresses my request …

customer agent addresses my request promptly

06/23/2017
by Nimpha Ramirez

4 stars

They have a good and fast service but …

They have a good and fast service but if I change my beneficiary it will take 3 or more days which is not good it should be the same time 'coz it's the...Read more

They have a good and fast service but if I change my beneficiary it will take 3 or more days which is not good it should be the same time 'coz it's the same sender.

06/22/2017
by roth ej

4 stars

Highest exchange rate and it's free..

Highest exchange rate and it's free... Good customer service.

06/21/2017
by Tony Soprano

1 stars

Horrible company

Horrible company. They have the worst customer service I have ever encountered. It took 2 to 3 weeks to do my first transaction, and when one of the...Read more

Horrible company. They have the worst customer service I have ever encountered. It took 2 to 3 weeks to do my first transaction, and when one of the customer service agents didn't like the answer to my questions, they cancelled my transaction. Their customer service agents have very little knowledge of the website they have either. I remember having to try 3 different agents to get one simple answer. My review? Go use a different company.




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.


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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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