VertoFX review

Discover more about VertoFX’s cross border payments and multicurrency accounts.

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VertoFX is a B2B marketplace for international businesses. Its accounts are specifically designed for currency exchange and cross border payments. With a VertoFX business account you can send and receive, as well as hold payments just like a local. It does add a mark-up to the mid-market rate – but don’t be put off. It’s worth checking VertoFx’s prices first before exploring the competition as most percentage mark-ups are fairly small.

VertoFX pros and cons


  • Free international payments. VertoFX offers free B2B international payments so you can pay like a local business.
  • Affordability. When compared to a bank, VertoFX’s exchange rates will almost always be better.
  • Worldwide network. VertoFX allows you to exchange more than 35 currencies and make B2B payments in over 200 countries around the world.
  • Multi-currency accounts. Collect payments in up to 25 currencies with one account.


  • Verify your business and its directors. You’ll have to provide proof of your ID and address as well as documents to verify your business, such as business bank account statements and business utility bills.
  • Margin on exchange rates. VertoFX adds a small margin to the mid-market rates.
  • Bank fees. Bank fees may apply depending on where you send money to and from and if it’s held on a non-local currency.

How much are VertoFX’s transfer fees?

VertoFX does not charge any transaction fee. However, you may incur other charges such as a card processing fee if you use a card to add funds to your wallet or fees charged by intermediary banks.

How are VertoFX’s exchange rates?

VertoFX adds a mid-market mark-up to the total amount of a transfer. Sometimes called the interbank rate, the mid-market rate is what your money’s actually worth on the global market compared to another currency. It’s the midpoint between worldwide supply and demand for that currency – and the rate banks and transfer services use when they trade among themselves. With VertoFX, this percentage mark-up will vary depending on the sending and receiving countries.

To give this more context, here are the mid-market mark-ups (as of 10 June 2022) for popular sending £1,000 to destinations around the world.

Sending toMid-market rateVertoFXMark-up
Australia (AUD)1.751.7380.69%
China (CNY)8.318.2900.24%
France (EUR)1.181.1700.85%
India (INR)96.6595.9320.74%
Kenya (KES)145.17146.380.83%
US (USD)1.2351.240.40%

What are the ways I can send money abroad with VertoFX?

As VertoFX is only available to businesses, when signing up for an account you will need to provide information about your business.

How to send money transfer online with VertoFX

  1. Create an account. Head to VertoFX’s homepage and click on “Get started”.
  2. Choose account type. VertoFX will ask you what type of business account you are looking to open.
  3. Enter business information. You will be prompted to enter your business name and provide a business email address.
  4. Verify your email address. VertoFX will send you an email with a one time log in password. You will need to enter this to verify your email account and account.
  5. Provide further details. At this point, you will have access to VertoFX’s dashboard and will be able to view its current exchange rates. However, in order to make any sort of transaction, you will need to provide more information about your business. This includes how you plan to use VertoFX, your position in the company and what jurisdiction it is under.
  6. Submit documents You will need to confirm the registered details of your company and provide some documents to verify your account. These include business documents such as proof of business operating address and Certificate of Incorporation/Formation certificate. As well as this, VertoFX requires documents for anyone who owns 25% or more of the company or any individual controlling the account. These include a government-issued ID and proof of residential address.

What are VertoFX’s payment options?

You can fund your transfer either using a bank account outside of VertoFX, your VertoFX Wallet or your VertoFX account. You can transfer money to your wallet either by using a bank transfer or topping it up using a debit/credit card. Just keep in mind you may be charged a card processing fee if you choose to use this option.

How long does an international transfer with VertoFX take?

VertoFX transfers are usually completed within minutes of being initiated or within 24 hours. However for some exotic currencies it may take VertoFX up to two days to receive the funds, which will delay your transfer.

What currencies does VertoFX support?

VertoFX allows you to exchange more than 35 currencies and send to more than 200 countries. Some of the more popular ones include:

  • AUD Australian dollar
  • CNY Chinese yuan
  • EUR Euro
  • KES Kenyan shilling
  • UGX Ugandan shilling
  • NZD New Zealand dollar
  • USD United States dollar

What VertoFX’s reviews say

On TrustPilot VertoFX scores 4.1 out of 5 (“Great”) based on around 290 customer reviews. That’s as of 21 December 2022.

Although that’s a relatively small number of reviews, they’re moderately positive overall, with almost three quarters of reviews ranking it as “Excellent”, which is better than many competing money transfer companies. Overall, VertoFX’s customer service has been praised and its transfer times noted as fast. However, there are issues. Customers complain about limited payment methods to fund the VertoFX account and about finding better exchange rates elsewhere.

Is VertoFX safe to use?

VertoFX was founded in 2017 and serves thousands of businesses all around the globe. It does the following to protect your money:

  • Follows strict rules set by the FCA. VertoFX is authorised and regulated by the Financial Conduct Authority.
  • Adheres to regulations. VertoFX adheres to The Money Laundering Regulations 2017, as well as The Terrorism Act 2006 and the Terrorism Act 2000 and Proceeds of Crime Act.
  • Dedicated account manager. An assigned account manager will be on hand to help with any transactions or issues that may arise.

Does VertoFX have a mobile app?

VertoFX’s mobile app is Verto Pay – which is only available on Android. It allows you to access your multicurrency account and collect payments from customers in their preferred currency.

Frequently asked questions

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Written by


Helen Champion was an associate editor at Finder. She has worked in communications for over 16 years and currently writes on a range of topics including insurance and money transfers in the hope of empowering people to make better financial decisions. During her broadcast career, she helped to produce hundreds of news and breaking news reports for Associated Press TV and ITV News. And in public relations, she managed several high-profile public relations campaigns for Macmillan Cancer Support, the General Medical Council and overseas for Qatar Foundation on behalf of BLJ Worldwide. Helen has a Bachelor of Arts in Journalism from the University of Lincoln, a passion for practising karate in the dojo and a deep love of making mischief with her sons. See full bio

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