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.
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.
