Review: TorFX international money transfers

Get bank-beating exchange rates and no fees when you transfer with TorFX.

Good for getting a fair exchange rate with its price-match guarantee and for personalised help with your own account manager.

Not so great for transfers under $2,000, where you'll get a less competitive exchange rate, and for popular remittance currencies like INR and CNY.

5.0 ★★★★★ (1 review) Write a review

Rosie Russell

Last Updated Mar 9, 2021

AUD 2,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed

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Details

Product Name	TorFX International Money Transfers
Min. Transfer Amount	AUD 2,000
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
Transfer Speed Minimum transfer time	1 day
Customer Service	Phone, Email
Available Currencies	AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR
Exchange Rate Updates	Daily

Online Transfer Fee	AUD 0
Phone Transfer Fee	AUD 0

Pros

No transfer fees
Price match guarantee
Dedicated account manager assigned to you
Forex tools available

Cons

Not available for more exotic countries including Indonesia and Bangladesh
Only supports bank transfers
Not as competitive for transfers under $2,000

Go to TorFX's site More info

Rosie Russell

Rosie Russell is a money transfers producer at Finder. She is on a mission to make personal finance easier to understand. Rosie has a Bachelor of Communication (Journalism) and Bachelor of Arts in International Studies from the University of Technology Sydney.

TorFX exchange rates and fees

TorFX offers both competitive exchange rates and a price-match guarantee, but if you're transferring less than $2,000, you'll probably find a better deal elsewhere.

Price-match guarantee

TorFX will match any competitor's rate to make sure you get the most competitive rate in the market. You just need to:

Register with TorFX.
Show TorFX a screenshot or written quote of the better rate, including the date and time you received it.

Conditions do apply:

You have to have an account with the provider you get the other quote from.
TorFX can't beat the rate if it's better than the mid-market rate.
This guarantee doesn't apply to transactions you've already agreed upon with TorFX.

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.

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	AUD 2,000	1 day	AUD 0.00	0.725	USD 7,252	TorFX guarantees to match any competitor's exchange rate. Conditions apply. TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Available currencies

TorFX lets you send money to over 40 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 reach your recipient on the same day. With some of the less-popular currencies, transfers 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.

Transfers typically take Clock icon for transfer speed

1 day

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 4.7* out of 5, based on +1,100 reviews.

*According to TorFX and Trustpilot on 07 April 2020.

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

Pros:

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.

Cons:

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.
Not as good for transfers under $2,000. For smaller transfers, you'll often get a more competitive rate elsewhere. Although TorFX does allow transfers as small as $250, you're not likely to be contacted to activate your account.

Go to site
More info

How does TorFX compare to other providers?

Calculate what fees and exchange rate other money transfer services are providing below.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
GBP 0	1 - 2 days	AUD 0.00	0.723	USD 7,227	Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 0.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments Customer service Chat, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KZT, LAK, LBP, LKR, MAD, MDL, MGA, MKD, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VND, VUV, WST, XAF, XCD, XOF, XPF, ZAR, ZMW Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.725	USD 7,252	TorFX guarantees to match any competitor's exchange rate. Conditions apply. TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 1	Within an hour	AUD 0.00	0.725	USD 7,246	New customers get their first transaction for free with code FIRSTFREE. T&Cs apply. Send money in minutes at competitive exchange rates with this Australian money transfer service.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Email, Branch Available currencies AUD, BWP, GHS, KES, MYR, RWF, TRY, TZS, UGX, USD, VND, ZAR Go to site Read the full review
AUD 250	1 - 2 days	AUD 0.00	0.725	USD 7,249	$0 transfer fees for Finder customers. OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.725	USD 7,247	Send guarantees to match any competitor’s exchange rate. T&Cs apply. Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KWD, MXN, MYR, NOK, NZD, OMR, PHP, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 1	Same day	AUD 0.00	0.724	USD 7,241	XE has fast transfers with low fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments, Market orders Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BSD, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
AUD 1	Same day	AUD 3.99	0.719	USD 7,188	Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review
AUD 1	1 - 2 days	AUD 45.00	0.725	USD 7,215	Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
AUD 200	1 - 2 days	AUD 50.00	0.727	USD 7,238	Exclusive: New customers sending over 500 AUD from Australia use code FINDER50 to get 50 AUD off. Pay zero fees on your first transaction. Valid till 31 December 2021. T&Cs apply. Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 200.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
AUD 1	1 day	N/A	N/A	N/A	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, EUR, GBP Go to site Read the full review
AUD 1	1 day	AUD 52.00	0.724	USD 7,204	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, CAD, CNY, EUR, GBP, HKD, IDR, INR, JPY, KRW, LKR, MYR, NPR, NZD, PHP, SGD, THB, USD, VND, ZAR Go to site Read the full review
AUD 10	Within an hour	AUD 2.99	0.72	USD 7,196	Special offers like free transfers and better exchange rates available for new customers. Remitly has quick, affordable transfers around the world, with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, AUD, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
AUD 5	1 - 2 days	EUR 3.00	0.725	USD 7,247	Special offer: Zero fees on your first 10 transfers. CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 5.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Want to compare TorFX to other service side-by-side?

TorFX vs Wise

Frequently asked questions

Azimo International Money Transfers

Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

More info

TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

More info

MasterRemit International Money Transfers

New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.

More info

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

More info

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72 Comments

Susan
November 15, 2018

Will need to convert USD currently held in a bank in Australia in a foreign currency account into Australian dollars

finder Customer Care

John
November 15, 2018

Hi Susan,

Thank you for reaching out to finder.

You may have the currency conversion in the bank if you wish but if you want to withdraw the amount in USD and have it converted outside the bank, that is also an option. You may reach out to currency exchange company that could help you convert the USD you have into AUD. Hope this helps! You may also give TorFX a call to ask for assistance in doing the conversion. Since TorFX accepts bank transfer as the option, you could do this by making the transfer from your bank to them.

Cheers,
Reggie

JB
September 26, 2018

Hello,
I am wishing to send money to a relative in Singapore and am hoping to transfer an AUD amount to an account in England from my Commbank account (this will then by transferred to my relative’s bank in SIngapore as SGD. Do Australian banks such as the Commbank permit/provide AUD transfers to English banks?

thank you

Nikki
September 28, 2018

Hi JB,

Thanks for your message and for contacting Finder.

Yes, Commbank allows international money transfers to the UK. Simply visit the Commbank website and choose international money transfers from one of their website features through the Commbank app.

To send money from the UK to Singapore, here is a handy comparison of money transfer providers. Simply enter the amount to be sent and press calculate and it will show the transfer speeds and fees. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you initiate a money transfer.

Best regards,
Nikki

Krishna
June 8, 2018

I m looking for 2000$ aus to usd
Let me know by message on my phone 0430406143

Arnold
June 8, 2018

Hi Krishna,

Thanks for your inquiry

Please note that we are not affiliated with TorFX or any other company we feature on our site and so we can only offer you general advice.

It looks like you’re already on the right page for information about TorFX Foreign Exchange Services. To start using TorFX, please click the green ‘Go to site’ button located above to be redirected to their website. You may also want to contact TorFX directly for transactions or any questions you may have about their services.

Hope this information helps

Cheers,
Arnold

Bill
February 13, 2018

Wow, your comparative rates listed here are 2 years old! Time to update them don’t you think?

finder Customer Care

Jonathan
February 26, 2018

Hi Bill, thanks for this flag. We have forwarded it to our team for immediate review.

Thanks,

Jonathan

Budram
August 5, 2017

I want to transfer around A$750 to India today What is the best exchange rate for today?

Arnold
August 5, 2017

Hi Budram,

Thanks for your inquiry.

Please note that Finder is a general information and comparison website.

To check for the current exchange rates TorFX has, you may click on the green ‘go to site’ button to be redirected to their site.

Hope this information helped.

Cheers,
Arnold

Country	Regulated by
Australia	Australian Securities and Investments Commission (ASIC)
United Kingdom	Financial Conduct Authority (FCA)

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Review: TorFX international money transfers