As of February 15, 2020, Transfast stopped accepting and processing online and mobile app money transfers. However, users can still send and receive money through Transfast agent locations, where available.
Alternatives to Transfast
WorldRemit
WorldRemit provides a variety of transfer options in more than 140 countries worldwide, including online, bank-to-bank and cash transfers.
Low minimum transfer amount
Flexible payment options
Varied delivery options including cash pickup
Xe
Xe Money Transfer is a service designed to help you transfer funds to a bank in a foreign currency. It has low fees and no transfer limit.
Low fees
No transfer limits
Money transfers to over 200 countries
Wise
Wise is a money transfer site designed to help you save on money exchanges through a peer-to-peer system. It allows you to exchange funds with those of another seeking to convert their money to your currency.
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Review of Transfast’s services when it was operational
Transfast is Best for:
Canadian citizens. Transfast specializes in exchanging US and Canadian dollars into exotic currencies around the globe.
Credit card payment. Unlike many transfer providers, Transfast allows you to pay for your transfer with a credit card.
How much will I pay to send money with Transfast?
Transfast doesn’t advertise a specific fee per transfer on its website, but fees vary based on where you’re sending money, how much you’re sending and your payment method, among other factors.
Exchange rates
Transfast offers competitive exchange rates that it updates daily online. These rates could be be within 1% of the mid-market rate, which means more money in your pocket.
Let’s say that you want to send $1,000 as a graduation gift to your niece in Italy. If the mid-market exchange rate for US dollars to euros is 1 USD = 0.94 EUR, Transfast might offer an exchange rate of 1 USD = 0.92 EUR. Your family member would receive 920.50 EUR, which is a stronger rate than some other online money transfer services might offer.
Rest assured that the exchange rate you see when you initiate your transfer is the rate you’ll get once the process is complete.
What types of transfers does Transfast support?
Transfast only offers one-off transfers. But you can select from a variety of payment and pickup options when sending money overseas.
You can make transfers to the following countries from the US or Canada:
Bangladesh
Benin
Bolivia
Brazil
Canada
Chile
China
Colombia
Costa Rica
Dominican Republic
Ecuador
Egypt
El Salvador
Ethiopia
France
Gambia
Germany
Guatamala
Guinea
Guinea-Bissau
Honduras
India
Indonesia
Ireland
Israel
Italy
Ivory Coast
Jamaica
Kenya
Mail
Mexico
Nepal
Nicaragua
Nigeria
Pakistan
Panama
Peru
Philippines
Poland
Romania
Senegal
Sierra Leone
Slovakia
Spain
Sri Lanka
Thailand
Togo
UK
US
Uruguay
Vietnam
The pros and cons of using Transfast
Pros
Simple transfer process. From start to finish, Transfast strives for easy international transfers for you and your recipient to more than 50 countries.
Competitive exchange rates. Transfast boasts some of the best exchange rates in the business.
Trusted by users. Transfast garners a four-star rating on TrustPilot.
Cons
Limited service. If you’re not a resident of one of the 35 or so US states Transfast services, you’ll need to find another money transfer provider.
No live chat. You’ll need to call or email for questions or help.
No flexible transfer options. Transfast doesn’t offer the flexibility of rate locks, forward contracts or recurring transfers.
How do I send money through Transfast?
Transfast strives for an easy process that you can complete quickly. We were able to sign up and initiate a transfer in 5.5 minutes.
4. Enter your recipient’s information and delivery method. 5. Pay for your transfer via bank account, credit card or debit card. 6. Review and confirm your transaction.
How much can I send with Transfast?
Transfast requires a minimum transfer of $50. The maximum amount that you can send depends on a few variables, including your customer history and the details of your transfer. Frequent Transfast customers are rewarded with higher maximum transfer amounts.
Transfer limits can also vary by the receiving country. While most countries set a limit of $10,000 every 24 hours for new Transfast customers, other countries — including Bangladesh, Chile and Nepal — have a much lower limit of $1,000 or even $500.
If you attempt to send more than the maximum transfer, you’ll see a message in red.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Kelly Suzan Waggoner is editor-in-chief at Finder, where she works with a talented team of expert writers and editors focused on helping readers to save money, earn money and grow their wealth. She joined Finder in 2016 as an editor, germinating the site from money transfers to include the wide scope of personal finance.
Kelly has worked with publishers, magazines and nonprofits throughout New York City to develop best practices around editorial, SEO, plain language and accessibility, including Black Dog & Leventhal Publishers, HauteLife Press and Queerty. She is quoted on such sites as Lifehacker and CertifiKid, and ghostwrote Copyediting and Proofreading for Dummies, published by Wiley.
Kelly earned a BA in English from Russell Sage College and a Poynter ACES Certificate in Editing from Poynter News University. She is trained in digital and website accessibility and plain language, and is a member of ACES: The Society for Editing and the Center for Plain Language. Between projects, she toys with words, flips through style guides and fantasizes about the serial comma’s world domination.
How do you know if your international money transfer made it safely? Learn how to track or cancel, and find out what your rights are when it comes to sending money.
From bank transfers to specialist money transfer companies, there are several options available when you need to transfer money overseas from your bank account.
If you need to transfer money overseas using your credit card, you can do so via your bank, MoneyGram, Western Union and PayPal. This can be useful in emergency situations, but credit card transfers are usually not a cost-effective option.
If you’re looking for a secure way to send money overseas, an international bank draft could be for you — but if speed is important, consider using a money transfer service instead.
If I send a money transfer to a recipient to pick up at an agent location using my bank account as a payment method, would the recipient still be allowed to pick the money up in minutes?
Thanks for your question! The transfer speed depends on the money transfer provider you use. For as long as your transfer is successful, your money transfer will go through with no problems and at the promised delivery time of the provider.
As per Transfast, it will take 3-5 business days to receive the transferred money into your account. You can check the status of the transaction, by logging into your account online or through the mobile app and go to your dashboard.
Upon checking, it’s not going to work with MoneyGram. You can only pick up the funds transferred through Transfast participating branch location. I hope this helps.
IF you are sending money via Transfast, you could only use a Credit/Debit card if you do not have a bank account available. A prepaid debit card would be useful in this transaction. Hope this helps!
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If I send a money transfer to a recipient to pick up at an agent location using my bank account as a payment method, would the recipient still be allowed to pick the money up in minutes?
Hi Jamaal,
Thanks for your question! The transfer speed depends on the money transfer provider you use. For as long as your transfer is successful, your money transfer will go through with no problems and at the promised delivery time of the provider.
Hope this helps!
Best,
Nikki
How long will it take the security team to release the money sent to my account through transfast?
Hi Taiwo,
Thanks for your inquiry.
As per Transfast, it will take 3-5 business days to receive the transferred money into your account. You can check the status of the transaction, by logging into your account online or through the mobile app and go to your dashboard.
I hope it helps.
Kind regards,
Bella
Is it possible can I withdraw money even there s no senders name only transfast control number
Hi Clint,
Thanks for your inquiry.
Unfortunately, no. You need the sender’s name together with the control number in claiming the money from Transfast agent locations.
I hope this helps.
Kind regards,
Bella
Can money send via Transfast be picked up at Moneygram? With Transfast reference number.
Hi Ville,
Thanks for getting in touch with Finder.
Upon checking, it’s not going to work with MoneyGram. You can only pick up the funds transferred through Transfast participating branch location. I hope this helps.
Kind regards,
Ellie
How do I use transfast to send money to Nigeria without having a back account
Hi Kingsley,
Thank you for reaching out to Finder.
IF you are sending money via Transfast, you could only use a Credit/Debit card if you do not have a bank account available. A prepaid debit card would be useful in this transaction. Hope this helps!
Cheers,
Reggie