Ria vs TorFX

Ria vs TorFX

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

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.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.682 USD
1,364
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 0.672 USD
1,333
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: $200

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.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.69 USD
6,898
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 2,000 1 day AUD 0.00 0.69 USD
6,898
Limited offer: $50 Myer gift card for first time users transferring over $5,000 in May 2019. T&Cs apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.69 USD
6,898
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.693 USD
6,894
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 200 1 day AUD 0.00 0.69 USD
6,896
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.689 USD
6,890
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 0.689 USD
6,888
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.69 USD
6,896
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 1 1 day AUD 0.00 0.689 USD
6,891
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.693 USD
6,890
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
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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International Money Transfer Offers

Important Information*
Logo for TorFX International Money Transfers
TorFX International Money Transfers

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.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Limited offer: $50 Myer gift card for first time users transferring over $5,000 in May 2019. T&Cs apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

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

$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

Logo for TransferWise International Money Transfers
TransferWise International Money Transfers

Make online transfers at the mid-market rate with transparent fees in 45+ currencies.

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