Ria vs TorFX

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

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Ria and TorFX are newer options in the money transfers scene, but the companies are far from inexperienced. We compare them on exchange rates, delivery times and fees to see which offers the better deal.

The fees and rates used in this comparison are accurate as of 1 March 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.676 USD
1,352
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2 1 - 2 days AUD 15.00 0.665 USD
1,320
Show details

Compare up to 4 providers

The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Which has lower fees?

Ria

Ria's fees will vary based on where you're sending the funds and how you're paying for the transfer.

For example, if you pay with a bank transfer, you'll pay a flat $15 for a bank transfer to China or $18 when paying by card. Other destinations are cheaper. You'll pay $4 with a bank transfer to Brazil or $10 with card. A bank transfer to India will cost you $1.50.

TorFX

TorFX doesn't charge any fees for personal international money transfers.

However, there's still a margin added to the exchange rate.

Trophy icon
Winner: TorFX

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

Let's crunch the numbers: Sending $1,000 and $3,000 to the UK

The table below shows how much it may cost to send two different amounts to the United Kingdom with Ria and TorFX, using a bank transfer in both cases, so you can see how exchange rates and fees affect the total cost.

Sending $1,000 to the UK
Ria TorFX
Transfer fee $15 $0
Exchange rate 1 AUD = 0.522 GBP 1 AUD = 0.519 AUD
Transfer speed Up to 4 days Up to 2 days
Total British pounds received GBP£514 GBP£519
Receiver gets GBP£5 less GBP£5 more
Sending $3,000 to the UK
Ria TorFX
Transfer fee $15 $0
Exchange rate 1 AUD = 0.522 GBP 1 AUD = 0.519 AUD
Transfer speed Up to 4 days Up to 2 days
Total British pounds received GBP£1,558.15 GBP£1,557
Total British pounds received GBP£1.15 more GBP£1.15 less

Both Ria and TorFX offer close exchange rates in this case, so when sending smaller transfers TorFX comes out GBP£5 ahead thanks to not having any fees.

But for a significantly larger transfer, the scales start tipping in favour of Ria thanks to slightly more favourable rates, and in this case the recipient could get GBP£1.15 more.

Which offers better exchange rates?

Ria

Ria's exchange rates tend to sit around 1% to 2% above the mid-market rate.
Here's an example of AUD to GBP:

  • If the mid-market rate is 1 AUD = 0.53 GBP
  • Ria's exchange rate might be 1 AUD = 0.522 GBP

TorFX

TorFX doesn't charge transfer fees, and instead makes its money through a margin on the exchange rates it quotes. 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 and you'll receive a better rate for an identical transaction.

Here's the same example of AUD to GBP:

  • If the mid-market rate is 1 AUD = 0.53 GBP
  • TorFX's exchange rate might be 1 AUD = 0.519 GBP

Trophy icon
Winner: Tie

Exchange rates are generally close between the two, and which one comes out on top might depend on what currency you're sending and when.

Which is faster?

Ria

It takes as little as 15 minutes to send money using Ria with a cash deposit and pick-up. The maximum you'll have to wait is four business days.

TorFX

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

Trophy icon
Winner: Tie

Ria offers the fastest option, but it's usually at an extra cost. TorFX, meanwhile, has a shorter maximum turnaround time.

General features

Payment methods Receiving options Max and min Transfer speeds Currencies
Ria Bank account, credit card, debit card and cash Bank account, cash pick-up, courier cash delivery Minimum: $2

Maximum: $4,999

1 - 2 days 60+ currencies
TorFX Bank account Bank account Minimum: $2,000

Maximum: No limit

1 day 20+ currencies

Ria

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 driver's licence or a passport.

TorFX

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.

Bottom line

A low minimum and a cap on monthly transfers make Ria great for one-offs and quick transfers. TorFX takes longer, but can also save you money in fees. Either will typically get you a better rate than a bank.

That's not to say you won't find other transfer services that meet your needs better than these two, so compare your options before you settle with one company over another.

Looking for more options?

To hunt for a deal, enter the details of your transfer into the money transfer calculator below. It will run the numbers and let you know how much a transfer may cost with different providers.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 3,000 1 day GBP 20.00 0.682 USD
6,806
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.682 USD
6,824
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 day AUD 0.00 0.683 USD
6,826
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.682 USD
6,822
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.683 USD
6,829
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.679 USD
6,786
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.677 USD
6,771
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 200 1 day AUD 0.00 0.68 USD
6,802
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Frequently asked questions

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Important Information*
Logo for Global Reach (formerly FC Exchange) International Money Transfers
Global Reach (formerly FC Exchange) International Money Transfers

Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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