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

2,429 customer reviews on Transfast on Trustpilot


13 hours ago
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.

1 day ago
by roth ej

4 stars

Highest exchange rate and it's free..

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

2 days ago
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.


More reviews

2 days ago
by Carlos Santana

5 stars

I've been using Transfast for almost a …

I've been using Transfast for almost a year and is amazing, they have the highest rates and always they deliver the money on time.

2 days ago
by Sandeep B Ramakrishnappa

4 stars

Decent money transfer service

Decent money transfer service, like this especially with their attractive transfer rate. Can be delayed at times but definitely worth it if looking to get...Read more

Decent money transfer service, like this especially with their attractive transfer rate. Can be delayed at times but definitely worth it if looking to get more out of your transfer if not time constraint.

1 week ago
by Vangie Grecia

5 stars

Always use their service

I always use their service for all my remittances. Fast, convenient, reliable and reputable company. My husband and I have been customers for years!

1 week ago
by G

5 stars

Very Quick money transfer

Very Quick money transfer.

06/10/2017
by saym6666

1 stars

Do not rely on Transfast

So now they say my account is blocked because of security reasons. WOW! Companies are these are unable to track who is fraud and who is genuine. I do not...Read more

So now they say my account is blocked because of security reasons. WOW! Companies are these are unable to track who is fraud and who is genuine. I do not know how do they do their business. Firstly they took all the information from us which we provided to them without any delays. Then when we were trying to integrate our bank accounts it was not adding although i was giving the correct details to them. They asked me to give the bank statement which I did. After 4-5 business days they sent two deposits to my company bank account and then it bank was verified with them. I initiated a transfer but after 4 days i found that the recipient didn't get the payment so i called the company transfast and they said because of some stupid security reasons they cannot give me the service? Again 4-5 days were wasted In total they wasted 15 days of my time, they bothered too much for the documents so inconvenience was there as well, we incurred business loss because our recipient was unable to get the funds on time so she didn't provide us the service which we wanted and last but not the least our reputation was hurt in front of the recipient. Is there anyone from the company who can provide us a genuine reason in writing where we went wrong? Our all details were genuine and so was the transfer.

06/09/2017
by Nagendra

1 stars

Don't trust this company.Worst company and worst service.

Worst company and worst service. In that case why did you deduct my money ?, You should answer this question first. And second is I did not get my refund...Read more

Worst company and worst service. In that case why did you deduct my money ?, You should answer this question first. And second is I did not get my refund yet, so how can I initiate second transaction? Answer these questions. Again it is is not trusted company. friends don't prefer to use this company for money transfer. They will deduct your money from the bank even it is a cancel transaction and then they do business with your money for 10 days freely. I would recommend to use REMITLY or Transferwise as they are on time and trusted companies. TRANSFAST is very bad rated company in the trustpilot. I am sure in the near future this company will loose many customers.

06/08/2017
by Nagendra

1 stars

This is worst company and worst …

This is worst company and worst service. I have initiated a transaction of 5000 dollars and then they asked for all the docs of ID, payslip, Bank...Read more

This is worst company and worst service. I have initiated a transaction of 5000 dollars and then they asked for all the docs of ID, payslip, Bank statement and SSN , I provided all those documents then they deducted money from account yesterday and immediately cancelled the transaction without any reason . I have asked the refund as deducted the money and they said it takes 5 to 8 business days for refund. I need money in urgent bases in India , even though I have money but It's not in my hand now . they stealed my money and using for their business with out service , I think we need to file a case against consumer market department. I will never use this service and suggest others to not use this company. Thanks Nagendra

06/07/2017
by krishna singh

1 stars

worst service. they will ask for govt id for transfer of 2999

just for sending 2999 they wanted me to upload all govt ids and other documents. In earlier transfer cases they used to block my transfer and send me...Read more

just for sending 2999 they wanted me to upload all govt ids and other documents. In earlier transfer cases they used to block my transfer and send me email stating call customer service. After i called customer service they used to ask me all personal questions like 1. who are you sending money to 2. how they are related to you 3. what purpose is for sending money 4. and other craap Worst part was they blocked my transfer for kyc documents. I didnt wanted to share my data with them and hence decided to cancel transaction. They debited amount from my account even though transaction was blocked for kyc. They will refund after 5-8 business days but still why did they debit amount from my account if they had blocked my transaction for documents i also use xoom, remitly, transferwise and none of them create problems in transfer like these guys.. worst service ever..

06/06/2017
by Hameet Kaur

1 stars

Worst experience!

Worst experience! I tried creating an account with Transfast. Kindly note: I am in Canada. The first page prompts to enter an email id and choose a...Read more

Worst experience! I tried creating an account with Transfast. Kindly note: I am in Canada. The first page prompts to enter an email id and choose a password. The next page directs to update profile with data like Name, Address, Contact number, etc., The country is by default "United States " and there is no option to change it to Canada. After calling customer support, the reaction was try using another e mail id as they do not see the e mail registered and system tells me that my e mail is registered already. After trying with another e mail , I faced same issue. The customer support was the most useless and I do not think I'll ever trust transfast with my money. Well done!!!

05/31/2017
by Makarand Maydeo

5 stars

Best money transfer

Got a good transfer rate and it was smooth and quick. Will transfer again..

05/26/2017
by Dhanasekar R

5 stars

Awesome and competitive exchange rate..

Awesome and competitive exchange rate..

05/26/2017
by Deepak Sundaram

5 stars

Best In the Market !!!!

Very convenient, prompt delivery, competitive rates in the market. Been a loyal customer for 2 years now. Highly recommendable

05/25/2017
by Saurabh Gupta

5 stars

Amazing superfast service !!!

Amazing superfast service !!!

05/25/2017
by Reshma Shaik

4 stars

Good response and I am comfortable with …

Good response and I am comfortable with your service. Thank you

05/25/2017
by Ragu

5 stars

Excellent

User friendly UI, Good Customer care support, Quick money transfer to India. Excellent!!

05/25/2017
by Archana Ramar

5 stars

For all your money transfer needs

I have been using Transfast for more than a year. It is the one stop for all your money transfer needs. Transfast is fast, secure and convenient. I would...Read more

I have been using Transfast for more than a year. It is the one stop for all your money transfer needs. Transfast is fast, secure and convenient. I would always recommend transfast to all my friends and colleagues.

05/25/2017
by Kishore Durgavajhula

5 stars

Excellent service and I'm using since …

Excellent service and I'm using since many days. I can confidently say TRANSFAST is best !!!

05/24/2017
by Syed Zaidi

5 stars

TRANSFAST------the best

i have been using TRANSFAST since almost 6 months now. it has been an awesome stress free experience. TRANSFAST has more often than not delivered before...Read more

i have been using TRANSFAST since almost 6 months now. it has been an awesome stress free experience. TRANSFAST has more often than not delivered before the estimated date if not the estimated date. the best thing is you are able to track your transfer and also you get notified about the changes being made. i have already referred TRANSFAST to many of my friends and have helped them set up their accounts also. thank you

05/23/2017
by Shyam Pillai

4 stars

I like Transfast because it provides a …

I like Transfast because it provides a good exchange rate and immediate transfer to my registered account in India.If you see my last year transaction my...Read more

I like Transfast because it provides a good exchange rate and immediate transfer to my registered account in India.If you see my last year transaction my confidence was high each time i done a money transfer.

05/20/2017
by Christine

1 stars

Bad Service!

Bad customer service. My husband and I tried to send money to reserve an out of country resort for our wedding, when transfast called us we told them that...Read more

Bad customer service. My husband and I tried to send money to reserve an out of country resort for our wedding, when transfast called us we told them that the account name was under the hotel and the website requires a first and last name. They said no problem, we can use the name of our contact person as long as the account number is correct. It has now been 2 weeks since we have been charged, the hotel hasn't received our money and we can't get it back from transfast! When talking to customer service they said they are open 24/7 for calls but we can't reach them for over an hour!! This is getting ridiculous

05/19/2017
by Sanjana Sahayaraj

1 stars

They will lose business with stupid policies

A woman from the security team called me and she had a pathetic pronunciation. She was trying to tell me, "We are calling from X", where I never...Read more

A woman from the security team called me and she had a pathetic pronunciation. She was trying to tell me, "We are calling from X", where I never really understood what that X was. So she went ahead and locked my account. I realized later that that X was 'Transfast'. Really? You would lock my account just because I don't have the superpowers to decode your weird pronunciation? I called customer care and I was told to create a new account as nothing can be done with my old account. It didn't let me create the new account since the number was already matched to another account. I called the customer care and told them to remove the number from the previous account and they made me go through a verification procedure. Even after they found all the information was right, I was told, "You cannot create an account with this number as we were not able to authenticate a transaction from your bank account". I mean, come on, do you expect me to purchase a new sim card and start a new bank account just because your system and policy sucks? You just lost a customer and will continue to lose many.

05/18/2017
by Robbie White

3 stars

I am used to Remit Home

I am used to Remit Home. On the first Transfast page (to send money) there are 3 choices, but there is no explanation on what the difference is. Also I...Read more

I am used to Remit Home. On the first Transfast page (to send money) there are 3 choices, but there is no explanation on what the difference is. Also I could not figure out how to edit an existing contact (is it possible?).

05/16/2017
by Michael Tierney

3 stars

A Struggle - At First

Transfast bought the company I was using for overseas Transfers and it was a Struggle - to their credit Transfast held my hand and got me through the...Read more

Transfast bought the company I was using for overseas Transfers and it was a Struggle - to their credit Transfast held my hand and got me through the first two or three transactions - I like the pricing and the Exchange rate is ok. The only thing that is preventing this from being a Five Star review is the Customer Service - I am told that someone will be with me in a few minutes - usually an Hour or more - when I hang up I am made to feel like it was my fault - Clean up the Customer Service issues and I will give you five stars with no problems.

05/13/2017
by 3074852

5 stars

Fast, Easy, Efficient

Very fast, reliable and effiicient service. The transaction fee standard of $5 is great. Only issue might be that the exchange rates are poor most of the...Read more

Very fast, reliable and effiicient service. The transaction fee standard of $5 is great. Only issue might be that the exchange rates are poor most of the times.

05/06/2017
by Richel

1 stars

Thumbs down

Thumbs down. I always have to call CS why the money hasn't been deposited in my family bank account. And if I transfast a higher amount. Slow process.

05/02/2017
by Raj Baral

1 stars

Most worst app I have ever used

Most worst iOS app I have ever used. I installed and uninstalled several times on iPhone 6S, but it is not working. I am able to login but once I click on...Read more

Most worst iOS app I have ever used. I installed and uninstalled several times on iPhone 6S, but it is not working. I am able to login but once I click on my transaction, the app will close automatically. Also it did not allow me to send money through app if I try to do it the app will close automatically. To make any transaction I have to use laptop or other browser. I did one transaction but took me around 6 days to complete.

04/29/2017
by Jyothi keshavan

1 stars

I am a first time user

I am a first time user. From my experience, this is really a very bad service. The web application does not work. They request for your SSN and do not...Read more

I am a first time user. From my experience, this is really a very bad service. The web application does not work. They request for your SSN and do not clearly specify why they need the SSN for the transfer. I am now worried since they already have my SSN. The customer service representative I spoke to just wanted to end the conversation with me by not answering my questions properly by just mentioning "Everything is fine and we will process your transfer". In that case, why did they actually send me so many emails specifying "If you do not respond back, we will cancel your transfer".




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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