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Transfast discontinues services - find alternatives and sites like Transfast now

Feb 1, 2020
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Transfast announced in January 2020 that it would cease its operations and stop accepting transactions on its website and mobile apps as of February 9, 2020. Find sites like Transfast to send money abroad or alternatives with Monito's comparison website for international money transfers.

Transfast cease its operation - Find alternatives now

In January 2020, Transfast has announced that it would cease its operation stopping accepting transactions as of February 9, 2020. Monito recommends you to seek other alternatives for your future transfers and to log in your Transfast account before February 14th 2020 to save your transaction tracking and account history.

In case you need to reach out to Transfast customer service beyond this date, please contact Transfast customer service representative at 1 (888) 973 6383 or customersupport@transfast.com.

Find services like Transfast

Important notice on Transfast website

You'll find below Monito's review of Transfast services when it was operating.


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

How Transfast works

  • Step 01

    Open an account

    Visit Transfast's website and open a free account

  • Step 02

    Enter the details about your recipient

    Tell Transfast where you need to send money and to whom.

  • Step 03

    Set-up your transfer with Transfast

    Enter how much money you want to send and how you want to pay for your transfer.

  • Step 04

    Pay for your transfer

    Fund your transfer by making a local bank transfer or pay by debit or credit card

  • Final step

    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.

    Get started with your transfer

Credibility security

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.

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.

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..

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