Transfast
| privately held | |
| Industry | Remittances |
| Founded | 1988 |
| Headquarters |
44 Wall St. New York, New York, United States |
| Products | Financial services |
Number of employees | 500 (2014) |
| Slogan | Value. Convenience. Service. |
| Website | TRANSFAST.com |
TRANSFAST is an international money transfer and payments company in the $436 billion annual global remittance industry.[1] It provides consumer remittance services to Africa, Europe, North America, Latin America, the Philippines and India. The company was founded in 1988 and is backed by private equity firm GCP Capital Partners. [2]
Money Transfer Services & Countries Served
With TRANSFAST online bank deposit service, consumers can send money directly to bank accounts in Bangladesh, Ghana, India, Indonesia, Kenya, Mexico, Nepal, Nigeria, Pakistan, Philippines, Senegal and Sri Lanka.[3]
TRANSFAST also offers cash pickup service to the following countries (number of locations as of 09/30/2014): Bangladesh (6000), Ghana (140), India (25000), Indonesia (5500), Kenya (1200), Mexico (20000), Nepal (3200), Nigeria (700), Pakistan (3200), Philippines (14577), Senegal (200) and Sri Lanka (3200).[3]
Home delivery services are offered to the Philippines.[4]
Consumers pay for TRANSFAST money transfers using funds from their U.S. bank account, credit card, or debit card. The money transfers are paid out in either U.S. dollars or in local currency.[3]
Banking, Money Transfer and Retail Partners
TRANSFAST provides money transfer services to banks, money transfer companies, and retailers, banks in the following countries and regions.
Asia - All banks in the following countries including those listed
- India - IDBI Bank, Axis Bank, Citibank India, HDFC, ICICI Bank, Punjab National Bank, State Bank of India (SBI), Allahabad Bank
- Philippines - Banco de Oro Universal Bank (BDO), Bank of the Philippine Islands (BPI), Metrobank, and Philippine National Bank. Cash pickup partners include Cebuana Lhullier, Globe GCASH, a subsidiary of Globe Telecom, and MLhullier, Inc.
Europe and North America - All banks in the following countries including those listed
- Australia – Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank, and Westpac
- Canada – Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and TD Canada Trust
- France – BNP Paribas, Credit Agricole, and Societe Generale
- Germany – Commerzbank, HypoVereinsbank, Deutsche Bank, UniCredit, Postbank and all others
- Ireland – Allied Irish Banks, Bank of Ireland, and Ulster Bank Ireland
- Italy – Poste italiane, Intesa Sanpaolo, and UniCredit
- Netherlands - ABN AMRO, ING Group, and Rabobank
- Poland - Bank Pekao SA, Bank Zachodni WBK, and PKO Bank Polski (PKO PB)
- Spain - Banco Bilbao Vizcaya Argentaria (BBVA), La Caixa, and Banco Santander
- United Kingdom – Barclays, HSBC, and Lloyds TSB
Latin America & Caribbean
- Argentina – Banco de la Nación Argentina, es:Banco de la Provincia de Buenos Aires, and Banco Macro
- Bolivia - Banco Bisa, Banco FIE, and Banco Económico
- Brazil - Banco Bradesco S.A., Banco do Brasil, and Banco Itau
- Dominican Republic - Banco Popular and Banco BHD; Cash pickup at Caribe Express
- Chile - Banco de Chile (Citibank), Banco del Estado de Chile, and Banco Santander; Cash pickup at Afex, Abcdin and Interservice
- Colombia - es:Banco de Bogotá, Bancolombia, BBVA, and Davivienda
- Ecuador - Banco Bolivariano, Banco de Guayaquil, and Banco Pichincha; Cash pickup at Ecuagiros and Global Envíos
- El Salvador - es:Banco Agricola, HSBC El Salvador, Citibank de El Salvador; Cash pickup at Elektra, Fedecrédito, and Remesas Cuscatlán
- Guatemala - Banco Industrial, and es:Banrural; Cash pickup at es:Banco GYT Continental, S.A.
- Honduras - es:BAC Credomatic, es:Banco Atlántida S.A. and es:Grupo Financiero FICOHSA
- Jamaica - Jamaica National Building Society (JNBS), Scotiabank, and Victoria Mutual Building Society(VMBS); Cash pickup at Capital & Credit Remittance, Ltd.
- Mexico - Banamex, BBVA Bancomer, Banorte, HSBC Mexico (Bital), and Banco Santander; Cash pickup at Elektra, Famsa, and Soriana
- Nicaragua - BAC Credomatic, Banco Citibank de Nicaragua, and Banco de la Producción
- Panama – Banco Citibank (Panamá) and Super 99
- Peru - Banco de Crédito del Perú (BCP), Banco Bilbao Vizcaya Argentaria (BBVA), Interbank, and Scotiabank
- Uruguay - BBVA Uruguay and Banco Santander Uruguay
Third Party Certifications
TRANSFAST is certified by TRUSTe as a licensee of the TRUSTe® Privacy Seal Program, is an accredited business of the Better Business Bureau, and operates its website using the verified by Verisign seal.[3]
Industry Reviews
In October of 2014, TRANSFAST was mentioned in a money remittance industry study by William Blair & Company. [1]