Pay bank-beating exchange rates and no fees when you transfer with TorFX.
- Guaranteed competitive exchange rates
- Fee-free transfers
- Dedicated account manager assigned to you
- Forex tools
Not so great for
- Popular remittance currencies like INR and CNY
- Any transfer that's not going to or from a bank account
|Product Name||TorFX International Money Transfers|
|Min. Transfer Amount||AUD 200|
|Max. Transfer Amount||No limit|
|Transfer Methods||Online, Phone, Bank Account to Bank Account|
|Transfer Options||Regular payments, One off payments, Market orders, Forward contracts|
Minimum transfer time
|Customer Service||Phone, Email|
|Available Currencies||AED, AUD, BHD, BWP, CAD, CHF, CRC, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, KES, LKR, MUR, MXN, NOK, NZD, PHP, PLN, RON, RUB, SEK, SGD, TRY, TTD, UGX, USD, XCD, ZAR|
|Online Transfer Fee||AUD 0|
|Phone Transfer Fee||AUD 0|
|Exchange Rate Updates||Daily|
- Low minimum transfer amount of $200.00
- No transfer fees
- Price match guarantee
- Dedicated account manager assigned to you
- Forex tools available
- Not available for more exotic countries including Indonesia and Bangladesh
- Only supports bank transfers
TorFX will match any competitor's rate to ensure you receive the most competitive rate in the market.
For TorFX to honour this offer, you need to have an active account with the competitor. You also need to provide written evidence of the better rate. TorFX cannot match rates that are below the market rate. (Read our guide on market rates to learn more about what this term means.)
See TorFX's website for full terms and conditions.
TorFX exchange rates and fees
Use our tool below to calculate how much sending money overseas would cost with TorFX. You can also check out the real-time exchange rate TorFX offers and if there are any additional fees.
TorFX lets you send money to over 30 currencies around the world. You can find a full list here, but some of the more popular ones include:
- GBP British pound
- PHP Philippine peso
- EUR Euro
- LKR Sri Lankan rupee
- JPY Japanese yen
- NZD New Zealand dollar
- HUF Hungarian forint
- HRK Croatian kuna
What types of transfers can you make?
TorFX only supports bank-to-bank transfers, meaning you won't be able to send to a mobile wallet or to a cash pick-up location. In saying this, TorFX does have a range of features to help when you make a transfer, including:
- Spot contracts. Make an on-the-spot transfer.
- Forward contracts. Lock in a favourable exchange rate now and send your money up to two years into the future.
- Limit orders. Target a specific exchange rate, then TorFX makes the transfer when that rate is met.
- Stop-loss orders. Wait for a better rate, but lock in a worst-case rate should the market move against you.
- Business transfers. Experts can help your business control forex risks and protect your profits. Services include risk management as well as overseeing any regular overseas payments for your business invoices.
How long does a money transfer take?
A transfer with TorFX should go through to your recipient by the same day. With some of the less-popular currencies, this can take up to two days.
What payment methods does TorFX accept?
You can pay for your TorFX money transfer through a bank transfer. Unfortunately, you won't be able to pay with cash or card. Once you've confirmed your transfer with TorFX, you'll be given the bank account details to transfer your money into.
Is TorFX safe to use?
- Security and regulation: Government regulated.
- Established: 2004.
- Number of customers: More than 50,000 private clients and over 4,000 corporate clients.
- Reviews: Trustpilot gives TorFX a score of 9.4* out of 10, based on around 2,700 reviews.
How does TorFX make money?
TorFX doesn't charge fees, so makes its money off the margin. The margin refers to the difference between the mid-market rate you'll see on XE or Google and the exchange rate a provider quotes you.
Because of this, remember to compare both exchange rates and fees when looking at a money transfer company.
How to register an account
What is TorFX?
TorFX is a foreign exchange service provider largely located in Europe, with offices in the US, Australia, Europe and South Africa. TorFX provides business and personal services for transferring money overseas, with a range of transfer options. You'll even be provided with an account manager to help you navigate the process and offer guidance.
In a nutshell
- No fees. TorFX makes its money off the margin so you won't be charged any fees. Keep an eye on the exchange rate, though.
- Dedicated currency expert. TorFX assigns an account manager to you, which can help the transfer process and questions you might have.
- Price-match guarantee. TorFX will beat any price that you've been quoted by another company.
- Forex tools. You can use forward contracts, limit orders and stop-loss orders to get the best deal possible.
- Limited currencies. Popular remittance currencies like the Indian rupee or Chinese yuan aren't available.
- Only supports bank transfers. You can only send to bank accounts and can't pay for the transfer with cash or card.
How does TorFX compare to other providers?
Calculate what fees and exchange rate other money transfers are providing below.