Which scores better when comparing XE Money Transfer vs TorFX? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
XE Money Transfer
Overall score:
71
71
TorFX
Overall score:
72
72
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
33
33
XE Money Transfer serves personal customers from a number of countries, giving them easy means to send money to more than 170 countries.
50
50
TorFX money transfer services are available for personal customers from different countries.
56
56
XE Money Transfer gives business clients the option to choose from varied services.
44
44
Global business clients can reduce their currency costs by using TorFX's services. TorFX specializes in fostering business relationships and partnerships.
46
46
Personal customers pay no transfer fees when sending money through XE Money Transfer.
Yes, these come in the form of the exchange rate margin that XE Money Transfer applies on existing mid-market rates.
42
42
Irrespective of whether you use the TorFX UK or TorFX Australia website, you benefit by carrying out fee-free transfers.
TorFX applies a nominal markup on existing mid-market/interbank exchange rates. It informs you of the exchange rate that will apply on your transfer in advance. The exchange rate margin applied is usually less than 1%. This can be negotiated.
79
79
Sign up process - Register online or over the phone, by providing some basic information.
Payment options - Bank account transfers, debit cards and credit cards.
Phone transfers - Initiate transfers over the phone.
Speed - Most transfers process within 1 - 2 business days.
Mobile app - Available for iOS and Android.
ID verification - This process can take 1- 4 business days.
75
75
Signing up - Create a new account by using the TorFX app or website. You can also sign up over the phone.
Payment options
Transfer speed - Most transfers process in 1 - 2 working days. Transfers in exotic currencies might take longer.
Phone transfers - You can speak with your account manager over the phone to initiate transfers.
Mobile app - Available for iOS and Android - only personal customers who register through the TorFX UK website.
Transfer limits - You need to transfer a minimum of £100 or its equivalent in another currency. Maximum limits apply for online transfers.
81
81
Supported destination countries and currencies - XE Money Transfer supports transfers to over 170 countries, in over 60 currencies.
Customer support - Customer support is available via email and over the phone, in English, French and Spanish.
Website languages - You can use the XE Money Transfer website only in English.
63
63
Supported destination countries and currencies - TorFX carries out transfers in over 60 currencies, to more than 120 countries.
Supported registration countries - Sign up as a new customer from Australia, Botswana, Canada, China, Croatia, Czech Republic, Denmark, countries in the European Union, Hong Kong, Hungary, Israel, Japan, Mauritius, New Zealand, Norway, Poland, Romania, Russia, Singapore, South Africa, Sweden, Switzerland, United Arab Emirates, the United Kingdom or the United States.
Multilingual support - As of now, customers can use both TorFX money transfer websites and get customer support only in English.
More local settlement accounts - TorFX currently has local settlement accounts only in the UK and Australia. Customers from outside these countries might incur additional costs when making payments.
69
69
Exchange rate margin transparency - XE Money Transfer’s exchange rates include margins that customers find out only after confirming their transfers.
94
94
TorFX is an established and trusted money transfer company.
Regulated - TorFX is regulated by relevant government bodies in the UK and Australia.
Safety of funds - Uses segregated bank accounts to hold its clients' funds.
Trustpilot - Both, TorFX UK and TorFX Australia, rate as Excellent.
Transparency in rates - While TorFX exchange rates come with nominal markups, there is no clear indication of the margin it applies. Customers need to do their own research to get this information.
WinnerXE and TorFX come in neck and neck with XE just winning by three points. While they draw for Trust and Transparency, XE really leads the way for its business services.
