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Transfast is an online money transfer service for individuals and businesses. This service is for the residents of the United States and Canada to send money to more than 50 countries.
How to receive money with Transfast?
You have two options for receiving money:
- Transfast direct bank deposit
The money is directly deposited into your bank account when you use the direct bank deposit. When the funds are available, you will get the notification through SMS.
- Transfast cash pickup
When the money is ready, you will receive an SMS notification and then you can pick it up from any of Transfast's 34,000 partner sites across India. To pick it up, you must have a government-approved photo ID and the transaction number along with you.
Here are the requirements to start the process to receive money:
- Your name as per government ID and bank account
- Phone number
- State
- City
- Name of your Bank name
- Bank account number
You will get an SMS after your funds have been deposited or are ready for pickup.
Transfast Fees
You will not be charged to receive money through Transfast; instead, the fees will be deducted from the total amount sent.
Total time to receive money
Transfast service takes 3-5 business days if all of the information entered is true and under their terms and conditions.
How to send money abroad with Transfast?
You must register for their service online by clicking on ‘Sign Up' and providing the following information:
- Name
- Address
- Phone number and
- Email address
After setting up your account:
- Check the fees for sending money
- Check the exchange rate guarantee
- Add your beneficiary
- You must have their name per government ID, mobile phone number, city and state and their bank name and account number
- Choose the payment method - You can make the payment by using your US or Canadian checking account.
What is the transfer limit of Transfast?
The transfer limit of Transfast is $2,950 per transaction and $10,000 within 30 days. The more you use the service and submit new KYC documents, the higher the limit will be.
Total time to send money:
The time it takes to send money with Transfast depends on whether you choose Value+ or FastTrack. A Value+ transfer takes 3-5 business days, and a Fastrack transfer takes a few minutes to 24 hours.
Can you check the status of the money transfer?
You can check the status of your money transfer at any time you want from your Transfast account's dashboard. Your transaction receipt will also include an estimated completion date for the transfer.
