- Have 45,000 cash pick up locations in India
- After banking hours cash pick up service
- Offers instant to 24 hour transfers
- Better rates for delayed (3 days) deposits
Transfast, the New York based remittance company, is well known for becoming the first money transfer company to offer instant bank transfers back in 2009. With three services offerings to transfer money, customer can choose to either send money quickly for slightly less exchange rate or send money slowly for high exchange rates. The fast service FastTrack, completes transfers from instant to 24 hours time depending on receiver's bank in India. And the slow service Value+ generally takes about 3 days to complete transfers. The third service offered is just a variation of FastTrack with option to pay using Debit card.
The maximum amount of money that can be transferred is limited to $2950.00 per day. For transfers more than $1000.00 FastTrack service does not charge any fee if the payment is made using a bank account and transfers less than $1000.00 attract fees up to $.4.99. Just like other remittance providers, FastTrack also charges a lot of fee if customer pay money using a debit card - up to $19.99 fees.
Transferred money can be either deposited to recipient's bank account directly or it can be picked up from any of the 45,000 locations in India. Cash pick-up network boasts both banking and non-banking organizations, including Muthoot Group, Centrum, Kotak Bank, Popular Finance and Ahalia Exchange; Available 7 days a week even after Indian banking hours. To comply with Indian banking regulations, cash pick ups are restricted to INR 50,000. Any amount more than INR 50,000 is delivered as a cheque to the recipient
With competitive locked-in exchange rates and huge network of locations in India, Transfast offers a wide range of options for its customers to choose for transferring money. The service stands out of its competition by providing 24x7 chat support on its website, allowing cash pickup after banking hours as well as transferring money 24x7 throughout the year, even on non-banking days.
To transfer money to India, Transfast charges the following fee
|$50 - $100||$9.99|
Following payment options are available for Senders to initiate money transfers