Review: Transfast international money transfers

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Send reliable international transfers from Canada or the US.

Transfast has been providing money transfer services for more than 25 years, boasting competitive exchange rates. With a simple, straightforward transfer process, Transfast sets a locked-in online exchange rate, updated daily, so that the exchange rate you see when you initiate your transfer is guaranteed. You can send money online or through a mobile app.

Transfast's online service is no longer available


As of February 15, 2020, Transfast stopped accepting and processing online and mobile app money transfers. Users can still send and receive money through Transfast agent locations, where available. To find a new online service to send money now, compare options on our table below.

USD 50

Min. Transfer Amount

USD 10,000

Max. Transfer Amount

6 or more days

Transfer Speed

Details

Product NameTransfast International Money Transfer
Min. Transfer AmountUSD 50
Max. Transfer AmountUSD 10,000
Transfer MethodsOnline, Bank Account to Bank Account
Transfer OptionsOne off payments
Transfer Speed
Minimum transfer time
6 or more days
Customer ServicePhone, Chat, Email
Available CurrenciesBDT, BRL, CAD, CLP, COP, CRC, DOP, EGP, ETB, GBP, GHS, GMD, GNF, GTQ, HNL, IDR, INR, JMD, KES, LKR, MXN, NGN, NPR, PEN, PHP, PKR, PLN, RON, SLL, THB, USD, UYU, VND, XOF
Online Transfer FeeUSD 0
Exchange Rate UpdatesDaily

Choose from several delivery options

Transfast offers transfers from only Canada and the US, and only transfers money to a limited number of countries. But if your desired country is on Transfast’s list of available countries, its strong exchange rates and good reputation make it a solid choice. Its many delivery options are also appealing. Choose from bank transfers, cash pickup, home delivery and more.

Transfast exchange rates and fees

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 50 6 or more days CAD 4.99 0.721 USD
357
Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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 Canadian dollars to euros is CAD$1 = EUR 0.66 , Transfast might offer an exchange rate of CAD$1 = EUR 0.65. Your family member would receive EUR 650, 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.

Payment options

  • Bank account
  • Credit or debit card

Pick up options

  • Bank transfer
  • Cash pickup
  • Home delivery (in select destinations)
  • Deposit to a cash card
  • Bill payment (in select destinations)

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.
  • Credit card payment. Unlike many transfer providers, Transfast allows you to pay for your transfer with a credit card.
  • Trusted by users. Transfast garners a four-star rating on TrustPilot.

Cons

  • Limited service. If you’re not a resident of one of the six provinces that Transfast works with, you won’t be able to use the service.
  • For individuals only. If you’re a business looking to schedule payments, you’ll need to find another money transfer service.
  • 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 does Transfast compare to other services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 1 Same day CAD 0.00 0.732 USD
3,660
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
USD 150 1 day CAD 15.00 0.728 USD
3,630
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Go to site Show details
GBP 3,000 1 day CAD 0.00 0.728 USD
3,641
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
CAD 1 1 - 2 days CAD 1.99 0.728 USD
3,636
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
CAD 0 Within an hour CAD 3.99 0.733 USD
3,660
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details
CAD 1 1 - 2 days CAD 45.00 0.736 USD
3,645
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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.

Next steps

Once you complete your transfer, you can track the progress of the transaction at any time by logging in to your account online or using Transfast’s mobile app, where you can also view the estimated delivery date of your transfer.

Bottom line

With up-to-date exchange rates, Transfast can help you save when sending money abroad. Depending on the country you’re sending money to and your location, you may want to compare your options to make sure you’re getting the best deal.

Frequently asked questions about Transfast

  • D, HKD, SGD, CAD, JPY, THB, CHF, MXN, CAD, DKK, NOK, ZAR, EUR, NZD, FJD, PLN,

‘Exotic currencies’

  • BHD, LKR, SBD, BND, MAD, SCR, CZK, MYR, TOP, HUF, OMR, TRY, IDR, PEN, TWD, ILS, PGK, VND, INR, PHP, VUV, KRW, PKR, WST, KWD, SAR, XPF.
  • D, HKD, SGD, CAD, JPY, THB, CHF, MXN, CAD, DKK, NOK, ZAR, EUR, NZD, FJD, PLN,

‘Exotic currencies’

  • BHD, LKR, SBD, BND, MAD, SCR, CZK, MYR, TOP, HUF, OMR, TRY, IDR, PEN, TWD, ILS, PGK, VND, INR, PHP, VUV, KRW, PKR, WST, KWD, SAR, XPF

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