How much fees do Transfez charge?
- Our fees differ from countries and corridors of transfers. The fees are subject to change and can be reviewed at any given time on the Transfez currency converter.
Why are the transaction fees at Transfez so different than banks and other operators?
- At Transfez, our aim is to make the international transfer feels like domestic in terms of fees, speed and convenience. Unlike banks and other operators, we managed to have liquidity in each of the countries through our partner and banks and will execute your transfer through liquidity of currency in every destination country that we serve, making our fees much cheaper than banks.
Do we really save money by using Transfez?
- Absolutely. At Transfez, we do not have any hidden fees. What you see is what you receive. All fees are already included and there will be no additional cost charged by the banks in the receiving countries or even hidden fees in the currency exchange. If you want to compare, try by comparing how much money you need to send in Rupiah (including all the fees) so that the receiver can receive the same amount in full. You will be amazed.
Can I lock in an exchange rate with Transfez?
- The exchange rate is provided when you set up a transfer. Although we will have a feature that will allow you to lock a certain exchange fees for hours or days later for B2B transfer, currently we do not provide a facility to lock in exchange rates in advance. However, once you set up a transfer, the rate will be locked for 3 hours. Transfez reserves the right to cancel any transaction if the money is not credited to Transfez within 3 hours.
Why do the rates not change on weekends or at certain other times?
- The Forex market is operational during market hours on business days in the particular country. Therefore, the rates may not update when the forex markets are closed on weekends and holidays.
For how long are the rates locked once I set up a transaction? Is there a time limit for me to make my payment?
- Please make the transfer within 3 hours. Your transaction will be terminated if the transfer was made after the time limit, and you would have to redo the transaction process. Your money will be returned in the meantime. Our transactions are time-sensitive due to possibilities of currency change/volatility, which is why we would appreciate that payments are paid within the given time period
What is the meaning of each transaction status?
We are still waiting your payment or still under verification of your payment. If you already made a payment, please verify your payment in Activity menu.
We already received your payment and your transaction is being processed.
We and/or through our partner succeed to send your money to your recipient’s bank account. In some cases, with certain bank and/or certain countries, funds will be recorded in the recipient bank mutation maximum 1 x 24 hours after the transaction has been declared successful.
Your transaction is failed.
You cancel the transaction that has been created or you did not make a payment within the given time range.
The funds have been successfully returned to your bank account.
My recipient still not receive the money within 1 x 24 hours after status completed. What should I do?
My transaction is failed. Why?
- Failed transaction can occur due to several reasons, such as: invalid recipient details, transaction limit has been reached, your recipient bank has declined the transaction, barred recipient, unsupported recipient, unexpected errors, and Transfez reserves the right to decline the transaction due to customer that listed in sanction list.
Does Transfez offer forward contracts?
- No, we currently do not offer forward contracts.
How long is the refund process for my failed transaction?
- Submission of refund of failed transactions must be done through the application.
- Refunds can only be made when your transaction has been declared a failure and your payment has been verified by Transfez.
- Refund time of failed transactions is 1 x 24 hours on weekdays from the time you submit a refund
- If you have not received a refund within the specified time, please contact Customer Service.
How can I pay for my transactions?
- In order to use our services, you can make your payment through bank transfer. As soon as you have made and confirm your payment, a notification will be sent to you via app/email.
Do you receive payment in cash?
- No we do not accept cash deposits. Currently we only accept payment through Bank Transfer. Please stay tuned and subscribe to our social media platforms to be the first to know when there are new developments!
Does Transfez accept credit card or debit card?
- Sorry. Currently we do not accept credit cards and debit card. Please stay tuned and subscribe to our social media platforms to be the first to know when there are new developments!
Can I transfer my money using someone else’s bank account?
- No. In order to keep the process safe and secure, we will not accept payments made from unregistered bank accounts. You can only transfer using your own bank account.
Can I send money through somebody I have a joint bank account with?
- Yes. As long as your name reflects as one of the account holders, you can send money through a joint account.
What happens if I were to send money using someone else’s account?
- Transfez will return the money to you if we detected that the money does not come from your registered account. Help us to keep this environment secure by only using your registered account to make transactions.
I have entered wrong recipient details. Can I change it?
- You can contact our Customer Service via email or chat for any issues you face before we begin to process your transaction.
How do I set up a transfer with Transfez?
- Download our app, login to your Transfez account and submit a transfer. The platform will walk you through the process. If you have any queries, please contact our Customer Service.
What happens if my payment to recipient is rejected?
- We will notify you via email and notification apps about your rejected transfer.
I have sent incorrect amount. Can I change it?
When will my recipient receive the payment?
- Once the money is sent out by Transfez, it depends on the processing time of the receiving bank. You can check the estimated time arrival when make a transaction.
Do I need to contact Transfez when I make a payment?
- You can confirm your payment in Activity menu by selecting the transaction. After that, we will take care of things for you. However, in case of any queries or problems, you can contact our Customer Service.
Once I have transferred my money, will Transfez provide proof that the transaction was successful? How can I keep track of my money transfer?
- Once you have completed the process, we will send you a notification, and you can track your money throughout its journey through the app in Activity menu.
How do I cancel my transfer with Transfez?
- You can contact our Customer Service. Please note, once the funds have been transferred to the recipient, the transaction cannot be cancelled.
I have successfully made a transaction with Transfez, but I did not get any notification that my money is sent. What should I do?
I contacted Transfez’s customer service but no one is answering.
- We will provide a response to your inquiries swiftly and no longer than 2 x 24 hours.
- Please contact us through whatsapp and/or email email@example.com --based on your convenience.
What is the current currency availability in Transfez?
- The currency we accept is IDR in Indonesia, but will be able to send to over 70 countries and your recipients will accept it with their local currency.