Ria vs. TorFX: how do they compare? | finder.com
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Ria vs. TorFX for international money transfers

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Find out which of these two services will let you send money to your loved ones for less.

Banks have been falling ever out of favor when it comes to international money transfers. Services like Western Union and MoneyGram dominate the market when it comes to pervasiveness, but they’re often not the most cost-effective options. Ria and TorFX are newer options, but the companies are far from inexperienced. They offer competitive exchange rates, delivery times and charge less in fees to save you more.

Ria vs. TorFX: How they work


Signing up online with Ria is easy and fast. Simply provide the amount you want to transfer, where you want to transfer it to, your payment method and how you want it delivered. You’ll be asked to create an account to finish the process. You can also visit a Ria location and make the transfer in person, but you’ll need a government-issued ID such as a state driver’s license or a passport.


Register online with your personal information and request a free quote. Once your account has been approved, you may choose the destination of the funds and complete the transfer. Keep in mind though, TorFX only sends to two places from the US: Australia and New Zealand. This limitation puts them behind Ria at the outset.

Who offers lower fees?


Ria’s minimum fee is $3. Fees will vary based on where you’re sending the funds, how you’re paying for the transfer and how it’s delivered.


TorFX doesn’t charge any fees or commissions for personal international money transfers.

  • Winner: TorFX

$0 fees make TorFX the clear winner in this round.

How they compare

I want to send


Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 100 1 - 2 days - - No hidden fees and a best rate guarantee for 60 global currencies. Show details

Compare up to 4 providers

Who offers better exchange rates?


Ria’s exchange rates tend to sit just under 1% above the mid-market rate.

Here’s an example of USD to AUD:

  • If the mid-market rate is 1 USD = 1.326 AUD
  • Ria’s exchange rate might be 1 USD = 1.302 AUD


TorFX doesn’t charge transfer fees, and instead makes its money by skewing exchange rates in its favor. While it consistently beats out banks, it also provides a best rate guarantee. Get a quote from a competitor that you’re registered with and email it to TorFX within five minutes of the inquiry and you’ll receive a better rate for an identical transaction.

Here’s the same example of USD to AUD:

  • If the mid-market rate is 1 USD = 1.326 AUD
  • TorFX’s exchange rate might be 1 USD = 1.299 AUD
  • Winner: It’s a tie

Exchange rates are generally close between the two. With the extra effort and tight turnaround needed for the guarantee, it’s not enough to put TorFX ahead.

Who’s faster?


It takes as little as 15 minutes to send money using Ria. The maximum you’ll have to wait is four business days.


Generally it takes one to two business days to transfer your funds with TorFX, but certain transfers can go through on the same day.

  • Winner: TorFX

Ria offers the fastest option, but it’s usually at a cost. TorFX also has the better maximum time.

Who has more options

Payment methodsMinimum and maximum transfersDelivery methodsTransfer speedsCountries and currencies
RiaBank account, credit card, debit card and cash$1 minimum; $2,999 maximum per day, $7,999 maximum per monthBank account deposit, pickup at a Ria agent location and courier delivery to home or office (limited by location)15 minutes–4 business days146 countries and territories
TorFXBank account$150 minimum; no maximumBank transfer1–2 business days2 countries (AUD and NZD)

Case study: Sending $2,000 to New Zealand

Jules is sending $2,000 to his cousin who just moved to Auckland. Here’s what an online bank-to-bank transfer would be with Ria and TorFX.

Transfer fee$5$0
Exchange rate1 USD = 1.40 NZD1 USD = 1.39 NZD
Transfer speed4 business days or less2 business days or less
Total received2,800.00 NZD2,780.00 NZD

Jules would be able to send 20 NZD more for just $5 extra with Ria.

Bottom line

A low minimum and a cap on monthly transfers makes Ria great for one-offs and quick transfers. TorFX takes longer, but can also save you money in fees. Either will get you a better rate than a bank. That’s not to say you won’t find transfer services that meet your needs closer than these two; compare your options before you settle with one company over another.

Frequently asked questions

Rhys Subitch

Rhys Subitch is a content creator and editor for finder.com. They specialize in updating information on various pages to keep everything accurate for the readers, and enjoy the time they get to spend researching various topics because of it. Rhys lives with their cat and partner in Seattle. When not working they enjoy working on sewing and other craft projects.

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