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Review: Transfast international money transfers

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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.

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.

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.

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 does Transfast compare to other services?

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.
Data updated regularly
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Dunbridge Financial
Dunbridge Financial
24 hours
$10

View details
Dunbridge Financial offers diverse transfer options to more than 120 countries.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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Compare up to 4 providers

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)

Available countries

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.
  • 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.

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.

Transfast reviews and complaints

Transfast gets reviews on TrustPilot, with a 3.5 out of 5 TrustScore as of October 8, 2020. You will find a smattering of negative reviews, but each one seems to be followed up with a solution by a Transfast team member.

Customer support

If you need help with a transaction, you can send a message through its online form or call 888-973-6383.

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

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18 Comments

    Default Gravatar
    Jamaal
    July 31, 2019

    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?

      Avatarfinder Customer Care
      nikkiangco
      July 31, 2019

      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

    Default Gravatar
    Taiwo
    May 31, 2019

    How long will it take the security team to release the money sent to my account through transfast?

      Avatarfinder Customer Care
      Bella
      June 1, 2019

      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

    Default Gravatar
    Clint
    May 3, 2019

    Is it possible can I withdraw money even there s no senders name only transfast control number

      Avatarfinder Customer Care
      Bella
      May 3, 2019

      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

    Default Gravatar
    Ville
    March 29, 2019

    Can money send via Transfast be picked up at Moneygram? With Transfast reference number.

      Default Gravatar
      Ellie
      March 29, 2019

      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

    Default Gravatar
    Kingsley
    March 13, 2019

    How do I use transfast to send money to Nigeria without having a back account

      Avatarfinder Customer Care
      johnbasanes
      March 14, 2019

      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

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