TorFX Foreign Currency Exchange

TorFX is one of the leading services of foreign exchange and may be a genuine alternative to the banks, offering more competitive rates for international money transfers.

If you regularly make overseas payments of between $200 and $5,000,000+ then you may want to consider using TorFX for your next payment. Banks usually charge commission and transfer fees every time you send money, adding up to nearly the hundreds per transfer for big amounts. TorFX has no charges and takes zero commission, so you can save on fees and get a competitive exchange rate.

Exchange rate guarantee

TorFX guarantee to beat competitor exchange rates for your transactions, helping you to save when sending money overseas. Note that you must also be registered with the competitor and the rate must be provided to TorFX via email within 5 minutes of your enquiry. The transactions must be identical transactions.

Product NameTorFX International Money Transfers
Min. Transfer AmountAUD 200
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Agent
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 day
Banking PartnerTorFX
Customer ServicePhone, Email
Online Transfer FeeAUD 0
Phone Transfer FeeAUD 0
Exchange Rate UpdatesReal time


  • Low minimum transfer amount of $200.00
  • No transfer fees or commissions
  • Price match guarantee


  • Not available for more exotic countries including Indonesia and Bangladesh

How does TorFX work?

TorFX accepts currency exchange instructions online or by telephone. You can only exchange funds that have been cleared to TorFX's respective client accounts and funds need to be sent in advance before being able to execute a transaction. TorFX only accepts bank transfers and doesn't accept cash deposits.

What are the features and benefits of a TorFX international money transfer?

  • Competitive exchange rates. The team at TorFX prides themselves on being able to help customers save money of foreign exchange transfer, often beating the banks by over 3%. TorFX can help you plan the timing of your exchange so you get the best possible rate.
  • Free registration. Opening an account is free and can be done by completing an application form. There are also no obligations once an account has been open and you'll get access to free market analysis as well as expert advice.
  • Market news. Receive regular market updates including major currency movements, news and economic data. This service is free and has no obligation.
  • Protection. TorFX allows you to fix your exchange rate for up to two years to protect you from currency exchange movements.
  • Customer service. TorFX prides itself in offering friendly service, explaining the process clearly and advise on the best solution for you.
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What are the types of foreign exchange offered by TorFX?

  • Personal foreign exchange. TorFX can save you money on your international payments with competitive exchange rates, free transfers with no bank charges and customer service with TorFX currency experts. Services include support for buying property abroad, importing a car or boat and converting your assets when emigrating.
  • Business foreign exchange. The expertise offered from TorFX can help you business control foreign exchange risks and grow your profits. Services include risk management as well as overseeing any regular overseas payments for your business invoices.
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What personal services offered by TorFX?

  • Buying property abroad. When dealing with hundreds of thousands of dollars for a property overseas, the exchange rate can make a huge difference. TorFX can save you up to 5% compared to the big banks.
  • Emigrating. When emigrating, it's likely that you need to take your assets with you. TorFX can give you the best possible exchange rate and ensure that your funds are safely transferred.
  • Repatriation of funds. This is the process of moving money back to your original county of origin. TorFX will ensure that your money is moved safely and at the best possible currency exchange rate.
  • Regular payments. If you regularly make international money transfers, like your pension, or you have a mortgage to pay, TorFX can offer a commercial rate on your regular payments.
  • Family payments. TorFX are happy to assist with sending money to and from family in another country.
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Currency exchange rates offered by TorFX

The exchange rates are shown for indicative purposes only and are correct as of 30 September 2016.

CurrencyCurrency Code(Bank Buys) IMT
British PoundsGBP0.59189109203906
US DollarUSD0.76555193844333
Australian DollarAUD1
Canadian DollarCAD1.0040840485351
Czech KorunaCZK18.430896715004
Danish KroneDKK5.0766498964191
Hong Kong DollarHKD5.9372595442439
Hungarian ForintHUF209.89641905889
Indian RupeeINR50.976028410772
Japanese YenJPY77.662030186446
New Zealand DollarNZD1.0534477656111
Norwegian KroneNOK6.106540396567
Singapore DollarSGD1.0450429121042
South African RandZAR10.533885765019
Swedish KronerSEK6.5743711157147
Swiss FrancCHF0.74471737200355
Thai BahtTHB26.526191180823
Turkish LiraTRY2.3008582420835
UAE DirhamAED2.8123113347144
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Compare TorFX foreign exchange rates against other services

In this case study we compare the rates offered by money exchange operators, compared with those from TorFX. The exchange rates are shown for indicative purposes only and are correct as of 28 Sep 2015.















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How much does it cost to transfer money?

TorFX doesn't charge any direct fees, although fees may be payable for a foreign exchange contract. A small fixed transaction fee may apply but only for transactions under AUD $10,000 or the foreign equivalent. Be mindful that the financial institution that holds the recipient's account may charge a fee to deposit your money. In most currencies TorFX operates local bank accounts, so sending your deposit into TorFX is usually free of charge through online banking.

What are the pros and cons of using TorFX?


  • You can get up to 5% better rates compared to the big banks.
  • Free transfers with no bank charges or commissions.
  • You can also speak to a dedicated currency expert for market advice.


  • There are always a few risks with exchanging currencies, such as the volatility of the market and the delay of your transfer caused by technical or administrative problems, though these are usually quite rare.
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What's the registration and transfer process?

You can choose to either open a personal or business account depending on your currency exchange needs. For your application please have the following information ready:

  • Personal details
  • Currency exchange services required
  • Which currencies you're buying and selling
  • Source of funds
  • Countries you'll be sending payments to

After you have completed and submitted your TorFX application, your account needs to be approved by TorFx before commencing any activity.

Frequently asked questions

TorFX can help with transactions starting at just $200.
This is a transaction that involves a contract for the exchange of one currency to another at an agreed rate.
Some tax implications may arise and will differ according to your personal and financial situation
Legal information
TorFX Pty Ltd are regulated in Australia by ASIC (AFS Licence number 246838). TorFX Pty Limited under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 is regulated by the Australian Transaction Reports and Analysis Centre 'AUSTRAC'. TorFX Pty Ltd ABN 27 103 142 829.
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International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First International Money Transfers

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Sable International

Exclusive offer: $0 transfer fee and Price Beat Guarantee
Quote "finder" when your Sable International account manager calls you - guaranteed to beat any competitors exchange rate.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

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Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
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60 Responses to TorFX Foreign Currency Exchange

  1. Default Gravatar
    Sury | May 18, 2017

    I need to transfer funds to a nominated account in Dubai.
    The amount transferred should be in AUD from an AUD account in Australia. Is this possible.?

    • Staff
      Harold | May 18, 2017

      Hi Sury,

      Thank you for your inquiry.

      With TorFX you can transfer money to Dubai as long as it is within the list of supported currencies.

      I hope this information has helped.


  2. Default Gravatar
    jenny | April 19, 2017

    hi there
    I am about to settle a property in the phillipines and wonder what is the best way to transfer my money back to Australia

    • Staff
      Anndy | April 19, 2017

      Hi Jenny,

      Thanks for your question.

      You may send the money through a bank-to-bank transaction or through any of the money transfer providers that offer services in both Australia and the Philippines as listed on this page.


  3. Default Gravatar
    Danny | April 12, 2017

    Hi There,
    How do we get register on Torfx??
    Can your agent call back?

    • Staff
      Anndy | April 12, 2017

      Hi Danny,

      Thanks for your question.

      Kindly note that we are, not Torfx. You can register on Torfx by clicking the ‘go to site’ button above.

      If you wish to get in touch with them, you may also call Torfx on 1800 507 480.


  4. Default Gravatar
    | November 4, 2016

    We transferred money last Nov. 1 to the Philippines but the money still hasn’t arrive and its been 3 days. Please advice as I need it since yesterday.

    • Staff
      Clarizza | November 7, 2016

      Hi Mary,

      Thanks for your comment.

      Sorry to hear about your situation. Just to confirm, we are a general comparison site and provide general advice only. If you would like to follow up on money you transferred using TorFX, we recommend speaking to the provider directly.


  5. Default Gravatar
    Lesley | October 11, 2016

    When entering into a transaction to convert GBP to AUD do TotFX ‘take’ the money from my UK bank account or do I have to make the payment.

    • Staff
      Clarizza | October 12, 2016

      Hi Lesley,

      Thanks for your question. Once you’ve opened an account with TorFX you have to make the payment.


  6. Default Gravatar
    | August 26, 2016

    Does TorFx transfer money to nicaragua? I would like to transfer AUD to my USD bank account in Nicaragua. Apart from world remit what other transfer companies do this?

  7. Default Gravatar
    | August 22, 2016

    I want to send money to a friend who is a Moroccan national.
    What information do I require from him.
    Also will he be charged a fee from the money sent?

    • Staff
      Clarizza | August 22, 2016

      Hi Deborah,

      Thanks for your comment.

      You will need the recipient’s name and account details where the money will be deposited.

      Yes, you will be charged a one off transaction fee and possibly a fee from your bank.

      Hope this has helped.


  8. Default Gravatar
    Maria | August 10, 2016

    We are emigrating to nz and wonder how secure a large money transfer would be compared to say Westpac or anz.
    Can you guarantee a safe transfer of money to our nz account.?

    • Staff
      Shirley | August 11, 2016

      Hi Maria,

      Thanks for your question.

      TorFX is secure, they are authorised by ASIC and they transact over $6 billion annually.

      In terms of guaranteeing your transfer, you will need this to come from an authorised TorFX representative (as we are a 3rd party comparison service) – you can do this by clicking on “Go to site”.

      I hope this has helped.

  9. Default Gravatar
    Keith | June 10, 2016

    If i have already transferred a large sum into a Torfx account with the intention of a currency transfer to my bank…. can i withdraw all or part of that money back into the account from whence it came?


    • Staff
      Shirley | June 28, 2016

      Hi Keith,

      Thanks for your question.

      Yes you can transfer the funds back to your bank account. To do this, please get in touch with your TorFX dealer to instruct them to transfer the funds back.

  10. Default Gravatar
    Loren | June 3, 2016

    Are you able to transfer Polish Zloty to a bank account in Poland, or can you only transfer in euros ?

    • Staff
      Shirley | June 6, 2016

      Hi Loren,

      Thanks for your question.

      You can transfer Polish Zloty to a bank account in Poland using TorFX.

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