Transfer money overseas without the high fees and poor exchange rates.
Torfx is a top company of money transfer and foreign exchange services in Australia. It offers excellent solutions to individuals and businesses. Among the reasons why the group should be your number one choice are highly competitive foreign exchange rates, zero percent commission, segregated accounts and access to currency experts.
2016 Consumer MoneyFacts Awards
- Best International Money Transfer Service
- Best Customer Service
What services can you access through TorFX?
Buying property overseas
When purchasing property abroad, the exchange rate will have a direct impact on the total amount that you will end up spending in your investment. TorFX can provide savings of up to 5% of what you would have spent by relying on banks. You will also get a personal manager for your account who will provide you with regular market updates.
The group relies on experts who are always analysing the market and they can advise you on the best time to make your purchase. This will save you all the inconveniences that you would have gone through in making such important decisions allowing you more time to concentrate on the right investment. Other things that you will stand to benefit from include:
- Fast and free international transfers
- Direct communication with your account manager
- Free account opening- this is done online
People are always migrating for various reasons relating to work, adventure, quality of life and retirement among others. This can be a very stressing process and can greatly stretch your finances without the right information on currency exchange. You can rely on TorFX when converting into the foreign currency to get competitive exchange rates and access the cash in time.
Their experts will keep track of market changes and update you regularly via email. You will also be get professional advice, and you can even hold direct communication with your account manager for anything that needs clarification. It's also possible to have a particular exchange rate fixed for up to one year.
Repatriation of funds
Torfx can help you get the best deals when transferring your cash to Australia after selling your overseas assets whether these are rental apartments or holiday homes. This is not as simple as it sounds and there are various things that have to be put into consideration. The experts working with the group will provide you with the facts on issues like:
- Restrictions when carrying out the transfer e.g. limits specified
- Providing proof that the cash is from a genuine source
- Fluctuation in exchange rates and the best time to carry out the transfer
It's important that you get professional guidance on these transactions, because making the wrong decision can see you lose large amounts of money. Even a 5% difference on an amount like $500,000 is $25,000, so you need to be sure you're getting the best deal.
Regular payments abroad
TorFX can provide you with simpler and cheaper services if you'll be making regular overseas payments like pension transfers, mortgage repayments, wages or school fees. You can even get a commercial rate if you are planning on making regular monthly transfers ranging from $1,000 to $20,000 for at least six months. There will also be an option of taking out different plans if you will be making multiple transfers.
Compared to banks, using TorFX for your regular monthly transfers will save you around 3% and there'll be no extra charges. Setting up the service will be easy and the required payments will be made on the scheduled dates.
There are various risks involved in foreign exchange, but the group has come up with tools that will help you to manage such with ease. With forward contracts, you can fix a given exchange rate for use in the future, and you can take advantage of it for up to two years. This will only require you to make a 10% deposit, and you will settle the rest when the contract matures.
A limit order will allow you to determine a rate better than the current market rate at which to buy your currency, and this will be automatically done when the set level is reached. You can set a maximum or minimum exchange rate at which your currency should be purchased using a stop loss order and trading will be done when the levels are achieved. TorFX relies on the regular market monitoring and analysis to do all this.
Regular business payments
This is a service that targets businesses that make or receive regular overseas payments for recurrent transactions like royalties, wages and service fees among others. You can get a commercial rate if your business will be making regular monthly transfers ranging from $5,000 to $500,000 for at least six months. You can also get several plans if you will be making different regular transfers.
TorFX's foreign exchange rates
TorFX's rates are very competitive, and are lower by more than 3% compared to what banks are currently offering. Clients are always assured of huge savings when making foreign exchange transfers and all this is made possible by the experts who clearly understand how the foreign exchange markets work. International transfers are offered for free, and there are no charges involved.
Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.
They can help you with all your needs including:
- Buying property abroad
- Regular overseas payments
- Risk management
What are the features of TorFX?
The currencies on offer include:
- Canadian Dollar
- US Dollar
- Danish Krone
- Indian Rupee
- New Zealand Dollar
- Singapore Dollar
- Pound Sterling
- Norwegian Krone
- Hong Kong Dollar
- Swiss Franc
- South African Rand
- UAE Dirham
- Turkish Lira
By choosing to deal with TorFX, you will be sure of benefiting from the most favourable exchange rates and there will be no charges whether in the form of commission or fees. Your safety and security will also be well looked into since operations by the group are regulated by the Australian Securities and Investments Commission (ASIC).
In order to access TorFX's services, you will need to first setup your account. You can contact TorFX 24/7 to request for a quote or to make any general inquiry. You'll get access to an account manager who will provide you with regular market updates, and you can establish direct communication with him or her for any enquiries you may have.
The registration process
Opening an account is free, and you will not be obliged to trade once it has been set up. You can sign up for a personal account or a business account. For the former, you will be required to provide:
- Your name, title and country details
- Your telephone, mobile and email address
- Your date of birth, occupation and gender
- The services required, currency and source of funds
When opening a business account, you will be required to provide information relating to the company name, your name, title, address, town, state and company registration number among others.
What are the pros and cons of using TorFX?
- Highly competitive currency exchange rates with no charges or commissions
- Regular and free market updates by experts
- Ability to fix currency exchange rates for future trading
- Not as many currencies on offer as other companies
- No other products on offer such as travel cards
Frequently asked questions
Must I create an account in order to use the services offered by TorFX?
Yes, you must create one, but this is a process that will take you less than two minutes.
What are the charges on using the services offered?
TorFX does not charge any commissions or fees for services rendered. You can also contact a currency expert for free.
Is it possible to know the best time for trading?
Yes, you will get an account manager who will be regularly updating you with market reports together with currency breakdowns. They will also use their knowledge in foreign exchange to advise you on the best time to trade.