Transfast services to India, the Philippines and 49 other countries reviewed by experts
How can you use Transfast to send money abroad? Is their service reliable? Can you trust Transfast with your money? How good are their fees and exchange rates?
Our independent review of Transfast
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.
What we like about Transfast
Low fees and great, locked-in exchange rates
Large network of payout locations
24/7 customer service available by chat, phone or email
What we dislike about Transfast
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
Compare Transfast's exchange rates and fees
How Transfast works
Open an account
Visit Transfast's website and open a free account
Enter the details about your recipient
Tell Transfast where you need to send money and to whom.
Set-up your transfer with Transfast
Enter how much money you want to send and how you want to pay for your transfer.
Pay for your transfer
Fund your transfer by making a local bank transfer or pay by debit or credit card
Let Transfast do the rest
Transfast will convert your money in the recipient's currency and send it to him through the selected pay-out option.
Fees & Exchange Rates
Transfast is very often the cheapest option
This indicator is based on the percentage of searches on Monito for which %PSP% is the cheapest provider
Transfast has very competitive fees and exchange rates
This indicator is based on the percentage of comparisons on Monito in which %PSP% offers a competitive pricing (taking into account the pay-in and pay-out options as well as the amount).
Transfast doesn't offer special promotions to Monito users
Monito can access real-time pricing information from Transfast
The points above are added to calculate the "Fees & Exchange Rates" score of Transfast, who scores 8.4 points on a maximum of 10 points.
Ease of Use
An average number of Monito users going to Transfast end up making a transfer with them
Transfast's homepage is clear and very easy to understand
It's very easy to open an account with Transfast
Setting up your transfer is quick and easy
It's easy to sign up and make a transfer both on mobile and desktop
The points above are added to calculate the "Ease of Use" score of Transfast, who scores 8 points on a maximum of 10 points.
Credibility & Security
Transfast is fully licensed and authorized
Transfast doesn't have many positive customer reviews
Transfast's customer base is already quite large
Transfast employs a very large number of employees
Transfast has already transferred at least 5 billion USD for their customers
Transfast hasn't receive any significant press coverage
Transfast is part of Monito's network of trusted partners
Transfast is a long-established company
The points above are added to calculate the "Credibility & Security" score of Transfast, who scores 6.5 points on a maximum of 10 points.
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.
Service & Coverage
Transfast allows you to send money from a limited number of countries
Transfast allows you to send money to an average number of countries
Transfast is available in very few languages
It is possible to pay for your transfer by local bank transfer
It is possible to pay for your transfer by credit/debit card
Transfast doesn't offer additional pay-in options
It is possible to send the money to your recipient's bank account
The money can be delivered to a cash pick-up location
Transfast can’t send money to a mobile phone (airtime top-up or mobile wallet)
Transfast has a bill payment service
Transfast doesn't offer additional banking features
Transfast offers a multi-currency debit card
Transfast offers guaranteed exchange rates
It is not possible to set up repeating transfers / standing orders
There is a very low minimum amount
There is a maximum amount
The points above are added to calculate the "Service & Coverage" score of Transfast, who scores 4.8 points on a maximum of 10 points.
Transfast has a good percentage of excellent customer reviews
Transfast has a very low percentage of negative customer reviews
Transfast has a good number of positive customer reviews
The points above are added to calculate the "Customer satisfaction" score of Transfast, who scores 6.3 points on a maximum of 10 points.
The FAQ and help center of Transfast are easy to understand
Transfast has a live chat available to all
Transfast offers email support (even to noncustomers)
Transfast offers phone support (even to noncustomers)
It's very easy to get in contact with Transfast
The FAQ and help center are translated in all languages
Monito cannot contact Transfast on behalf of our users
The points above are added to calculate the "Customer support" score of Transfast, who scores 10 points on a maximum of 10 points.
The exchange rate margin makes up a significant share of the total cost of your transfer
It's quite straightforward to understand the fees of Transfast
Transfast’s exchange rate margin is not properly disclosed
A real-time quote can be obtained without registering
Transfast applies the same fees and exchange rates to all customers
The pricing information of Transfast is made available to Monito
The points above are added to calculate the "Transparency" score of Transfast, who scores 4.8 points on a maximum of 10 points.
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.
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..
Monito helps you compare money transfer services around the 🌎
Why you can trust Monito's reviews
Monito's mission is to help you (and thousands of others each day) find the best providers for your money transfers.
We do that by providing real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writting in-depth reviews about money transfer providers.
We have partnerships with many money transfer providers (Transfast included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.
We put a lot of efforts to review money transfer providers like Transfast in details and based on objective and verifiable criteria. A good example of that is the in-depth User Experience Benchmark Study we conducted in August 2018.
Compare Transfast to 300+ other providers
Questions you may have
Read our guides on sending money abroad
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