Enter the amount you want to send and the currency you want to send to, then click Calculate to see up-to-date TorFX rates.
To make comparing even easier we came up with the Finder Score. Fees, features and customer service across the most popular international money transfer services are all weighted and scaled to produce a score out of 10. The higher the score the better the service – simple.
Read the full methodologyPlease note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
TorFX doesn’t attach any transfer fees to its transactions. Instead, it makes its money from adding a markup to its exchange rate.
While TorFX does apply a margin to its exchange rates, it promises to keep them as close to the mid-market rate as possible. Keep in mind, that exchange rates fluctuate during the day, so the exchange rate you get will be set at the moment your transfer is confirmed.
TorFX will match any competitor’s rate to make sure you get the most competitive rate in the market. You just need to:
…a couple of conditions do apply though:
TorFX only supports bank-to-bank transfers, meaning you won’t be able to send to a mobile wallet or to a cash pick-up location. In saying this, TorFX does have a range of features to help you make a transfer, including:
In order to make a transfer with TorFX you will first need to register for an account.
A transfer with TorFX should reach your recipient on the same day. With some of the less-popular currencies, transfers can take up to two days.
You can pay for your TorFX money transfer through a bank transfer. Unfortunately, you are unable to pay with cash or a card. Once you’re confirmed your transfer with TorFX, you’ll be given the bank account details to transfer your money to.
Yes, based on some key factors, we think that TorFX is a legitimate and widely trusted money transfer service. Firstly, it’s authorised and regulated in the UK as an “Electronic Money Institution” by the Financial Conduct Authority (FCA). Whichever service you end up using for your next overseas transfer from the UK, make sure it’s authorised by the FCA – you can check on the FCA’s Financial Services Register.
Because it’s an e-money institution and not a bank, your funds (while held by TorFX) won’t be protected under the Financial Services Compensation Scheme (FSCS), but that’s quite standard among money transfer companies. And as part of its FCA regulation, TorFX is required to safeguard all client funds and keep them separate from its own funds.
TorFx didn’t spring up yesterday – it’s been around since 2004 and appears to have built a viable and sustainable business from its Penzance HQ. It now has offices in Europe, Australia, Singapore the US and South Africa, and it’s far from faceless – having built a name for itself as a human-first service that’s all about the expert support. These factors put it in the opposite camp to the many competing self-service, app-only, money transfer start-ups which can struggle to become viable in the longer-term after early investment dries up.
TorFX states that it now processes more than 10 billion pounds in forex and international payments annually for more thatn 425,000 private individuals and businesses, and employs more than 550 people. It’s also a regular award-winner and fares well on review sites. As of April 2024, 7,393 customers have rated TorFX 4.9 out of 5 (excellent) on TrustPilot, with a huge number calling out their personal account handler as being helpful and friendly.
TorFX is also regulated down under by the Australian Securities and Investments Commission (ASIC).
Yes, TorFX is an excellent choice if you appreciate having expert human support to help you navigate a transfer of a larger sum. Your dedicated account handler can even help you to set rate targets, forward contracts or stop losses to remove much of the uncertainty in moving money across borders. Those currency exchange tools (and the accompanying expert support) aren’t necessarily reflected in live calculator comparisons, but can still translate into meaningful savings.
For smaller, self-service transfers, that expert, human element counts for less and you may prefer to opt for an app-first transfer service like, say, Paysend. And for less-common currencies or for a cash-pickup service you may prefer to opt for the likes of WorldRemit.
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