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Alternatives to TorFX

Providers similar to TorFX for transferring money overseas

TorFX is a reputable money transfer provider and has been helping customers save money on their currency transfers since 2004. Despite this, they may not suit your needs if you're making a small transfer or want a wider selection of currencies. Check out some other options below, we've handpicked some of the most popular alternatives that could be worth exploring.


OFX Logo

1. OFX

Similar to TorFX, OFX is a foreign exchange provider that caters to large money transfers for personal and business clients. They also both have dedicated accounts managers and forex tools to hedge your currency risk. OFX is a solid alternative to OFX as they support more currencies, offer similar exchange rates and transfer speeds.

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Why pick OFX?

  • Supports 50+ currencies
  • No maximum limit on how much you can send
  • Fast transfers, usually completed within 24 hours
  • OFX is one of two providers approved to pay ATO from overseas

Downsides

  • Doesn't use the mid-market rate
  • Only accepts bank transfers as payment
  • $250 is the minimum transfer limit for Australian users
Send Payments logo

2. Send Payments

Formerly known as SendFX, Send is an Australian based money transfer company that specialises in cross-border payment solutions for personal and business customers. They offer fee-free transfers, quick transfers and have partnered with established brands such as Travel Money Oz and Pepperstone.

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Why pick Send Payments?

  • Fee-free transfers to 180 countries in 37 different currencies
  • Customer support team located in Australia

Downsides

  • Relatively new to the money transfers space as they launched in May 2019
  • Not suitable for making small transfers
  • Their mobile app hasn't be launched yet
wise logo

3. Wise

Since entering the Australian market in 2018, Wise has become a reliable, low-cost way to send money transfers overseas. Although TorFX charges no transfer fees, Wise uses a variable fee ranging from 0.41% to 1.5% but uses the mid-market exchange rate on all currencies. Also, Wise has a daily transfer limit of $250,000, while TorFX has no maximum limit.

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Why pick Wise?

  • Low minimum transfer $1
  • Uses the mid-market exchange rate and is transparent about fees
  • Pay with a credit card, debit card, bank transfer

Downsides

  • Not suitable for large transfers due to fee structure
  • Two-step process, you need to wire your money to Wise who then deposit the money into your recipient's bank account
Xe Money Transfer Logo

4. XE Money Transfer

Xe Money Transfer offers competitive rates across a wide range of currencies and countries. They charge a flat fee of $4 for transfers below $500 but waive transfers fees above this amount. If you're working abroad, Xe is ideal for getting cash to your family or making investments overseas. Given how easy it is to transfer money to foreign companies in their currency, it's ideal for business accounts. Xe trades in over 120 currencies, surpassing OFX's 50.

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Why pick Xe Money Transfer?

  • Low transfer fees and competitive exchange rates
  • Trade over 130 currencies, allowing for transfers to over 220 countries
  • No maximum transfer amount on the phone, limited to $500,000 online

Downsides

  • Exchange rate tool not available until you've registered on the site
  • XE doesn't offer the mid-market rate
  • Transfers can take up to 4 business days
Moneygram logo

5. SingX

Singx offers the mid-market rate on major currency pairs but adds a markup to smaller volatile currencies. Find out how much your transfer will cost and all of the fees involved with their online calculator. Their delivery is quick too, recipients normally receive funds within 24 to 48 hours.

Go to SingX's website

Why pick SingX?

  • Get the mid-market rate on major currency pairs
  • In many cases, transfers only take one business day

Downsides

  • Not suitable for large transfers due to fee structure
  • Bank transfers are the only available option
  • No cash pickup available

Still looking for other options?

Alternatively, learn more about TorFX in our review.

1 - 25 of 25
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
24 hours
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Revolut
Within minutes
$0
Send money with great rates and low fees in 30+ currencies.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Instarem
Within minutes
From 0%
50% off first transaction fee from any country in APAC (outside India).
Minimum transfer of $250 and max transfer of $500,000
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
SingX
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
CurrencyFair
Within minutes
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
Send Payments
24 hours
$0
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
MasterRemit
Within minutes
From $0
Get your 1st and 2nd money transfer for free with promo codes FIRSTFREE and MASTERFINDER!.
Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
Western Union
Within minutes
From $0
Western Union sends money online to friends and family in 200+ countries around the world.
Qantas Business Money
Within minutes
$0
Limited time offer: Earn up to 125,000 bonus Qantas Points as a first-time converter. Ends 30 April 2024. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
Airwallex
Within minutes
$0
Streamline global payments in 60+ currencies. Send & receive securely in 150+ countries, with fast settlements & competitive rates. Simplify book-keeping & manage everything in one place.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
OFX Business Transfers
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
WorldFirst
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Send business
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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