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Does torfx charge a fee?

TorFX doesn’t charge any upfront transfer fees⁶, or any other fees for that matter. However, it is possible that receiving or correspondent banks may charge their own fees. Correspondent banks are any that are involved in the transfer along the way. But this doesn’t mean that international transfers with TorFX are free. ...

How does torfx make money?

The main source of income for TorFX is through margins on exchange rates, whereby a marginal profit is made from each transaction and transfer. As opposed to many other providers, however, TorFX doesn’t charge additional fees on top of their exchange rate. How do I use TorFX? To use TorFX, a customer needs to complete the following steps: ...

How much money can I transfer from torfx?

TorFX online - transfer between £100 and £25,000 - for higher amounts, you’ll need to contact your Account Manager to arrange the transfer. Regular Overseas Payments service - transfer between £500 and £10,000. How long do TorFX transfers take? When sending money overseas, you’ll need it to arrive as quickly as possible. ...

What services does torfx offer?

TorFX offers a range of services to personal clients and businesses. Its foreign exchange transaction services help clients manage their foreign currency transfer needs. TorFX also provides risk management services, including a range of tools that can help a business manage its exposure to financial risk. ...

Can torfx Touch my Money?

Being regulated by the FCA requires you to segregate client money from company money. These are accounts that are ‘ring-fenced and safeguarded’. Basically, this means that TorFX can’t touch your money for any reason other than for what you instruct. ...

Is torfx a good money transfer broker?

If you match any of the below, TorFX is a great option for you: There are some cases where you might need an alternative instead: I recommend using a money transfer app for transfers of under £25,000. Brokerages like TorFX specialise in high-volume transfers, so their rates can get worse for smaller amounts. ...