Transfast money transfers review November 2018 | finder.com

Review: Transfast international money transfers – November 2018

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Send reliable international transfers from the US or Canada.

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.

Product NameTransfast
Min. Transfer Amount$50
Max. Transfer Amount$10,000
Transfer Methods
Online,
Transfer Options
One off payments
Transfer Speed
Minimum transfer time
6 or more days
Customer Service
Phone, 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
Exchange Rate UpdatesDaily

Choose from several delivery options

Transfast offers transfers from only the US and Canada, 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 transfer, cash pickup, home delivery and more.

Here’s what we found when we attempted to send live transfers to Mexico and France through Transfast:

  • We were able to sign up and initiate a transfer in about 5.5 minutes.
  • However, Transfast was not able to successfully complete either of our transfers due to “security reasons.”
  • Customer service wasn’t able to disclose what these security concerns were that effectively cancelled our transfers.

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.

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.
  • 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.
  • 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 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

See how other services compare to Transfast

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days USD 0.00 0.875 EUR 4,374 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 0.874 EUR 4,372 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
USD 1 Within an hour USD 3.99 0.874 EUR 4,369 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
USD 1 3 - 5 days USD 50.00 0.882 EUR
4,368
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 0.874 EUR 4,368 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

Compare up to 4 providers

Kelly Waggoner

Kelly Waggoner is a senior editor with finder.com. She's worked with publishers, magazines and nonprofits throughout New York City, including ghostwriting a how-to on copyediting for the Dummies series. Between projects, she toys with words, flips through style guides and fantasizes about the serial comma's world domination.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

No maximum limit, no fees and competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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4 Responses

  1. Default Gravatar
    RevSeptember 17, 2018

    Where can i receive transfast money in Lagos,Nigeria.

    • finder Customer Care
      BellaSeptember 17, 2018Staff

      Hi Rev,

      Thanks for your inquiry.

      You may check out the Transfast pickup locations on this page.

      I hope this information helped. Please feel free to message us again for the further question.

      Kind regards,
      Bella

  2. Default Gravatar
    RENEAugust 15, 2018

    Would I like to know if transfast exists in Benin?

    Can one, withdraw money by transfast at the post office of Benin?

    • finder Customer Care
      AshAugust 17, 2018Staff

      Hello Rene,

      Thank you for reaching out to finder.

      Yes, Transfast is available in Benin but withdrawing/ claiming the remittance from a Post Office is not available. You may only withdraw the sent money through your Bank Account or Cash Pick up.

      I hope this helps.

      Let us know if you have additional questions.

      Cheers,
      Ash

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