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 (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.
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.
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)
|Time to open an account||-|
|Advanced currency contracts||No|
|Type of service provider||Online money transfer operators|