Revolut vs TorFX: Fees & Reviews Compared

Both Revolut and TorFX are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Revolut	TorFX
Homepage
Transfer Fee	No fee for transferring to other Revolut users Card transfers: 0.7% (if you’re in Europe), 2.3% (outside Europe) Bank transfers: fees can range between 0.35% and 1%	No fee
Average Exchange Rate Markup	0.5% – 2%	1.9% – 2.7%
Minimum Transfer Amount	$1	£100 (or currency equivalent) (£500 for recurring money transfers).
Maximum Transfer Amount	Depends on the selected plan, the sending country, and the recipient country.	No limit (£10,000 for recurring money transfers).

Reviews

	Revolut	TorFX
Trustpilot Rating	4.3	4.9
Number of Trustpilot Reviews	138,000	6,800
iOS App Rating	4.7	1.8
Number of iOS App Reviews	37,000	6
Android App Rating	4.5	4
Number of Android App Reviews	2,400,000	270

Features

	Revolut	TorFX
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	200	120
Number of Currencies	29	40
Payment Methods	Bank account Debit card Credit card	Bank account Debit card Credit card Check
Receiving Methods	Bank account Debit card	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app	Web platform Mobile app Phone In person
Supported Languages	English, German, Spanish, French, Portuguese, Dutch, Italian, Japanese, Chinese, Croatian, Greek, Czech, Danish, Russian, Hungarian, Polish, Slovak, Romanian, Swedish, Bulgarian, Latvian, and Lithuanian	English
Transfer Speed	Instant for Revolut users 1-2 days for the rest	0-2 days
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	No
Business Features	Forwards contracts Stop-loss orders Limit orders Analytics Payroll automation Spending management Digital multi-currency wallet Rate alerts API integration	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Rate alerts
Debit Card	Many including: Standard, Plus, Premium, Metal, Ultra, Business and Revolut <18	None
Cancellation Policy	Cancellation is available as long as the transfer hasn’t been completed. Refunds may take up to 10 days.	Transfer cancellations are possible depending on the status of the transfer and the contract type. Cancellation and refund costs may incur.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Revolut	TorFX
Year Founded	2015	2004
Headquarters	London, UK	Penzance, Cornwall, UK
Other Office Locations	Berlin (Germany), Dublin (Ireland), Krakow and Silesia (Poland), Madrid (Spain), Mexico City (Mexico), Porto (Portugal), São Paulo (Brazil), Bangalore, Chennai, Gurgaon, Indore, and Mumbai (India), Singapore, Tokyo (Japan), and Vilnius (Lithuania)	the UK, Australia, Europe, Singapore, South Africa, and the USA
Annual Trading Volume	$140 billion	£10 billion
Number of Employees	8000	550
Number of Clients	30 million personal users 500,000 business users	425000
Regulatory Institutions	FCA in the UK ASIC in Australia The Bank of Lithuania in the EU MAS in Singapore Kanto Local Finance Bureau in Japan	FCA in the UK AUSTRAC in Australia
Awards	Top Startups (LinkedIn, 2018, 2019, 2020, 2021, 2022) Fintech Company of the Year (City AM Awards, 2018) Europe’s Allstar Company (Investor Allstars Awards, 2018) Top 10 Fastest Growing Startups To Work For (Otta, 2019) Top 10 Companies Hiring Like Crazy (Glassdoor, 2019) Top Spot at Deloitte’s Tech Fast 50 (Deloitte, 2019, 2020) Top Spot at The Startups 100 (Startups, 2019) Top 10 in Tech Track 100 Companies (The Sunday Times, 2019) Featured in The Best London Startups to Work (Rocket List, 2020) Lithuania’s TOP Employers (CV Online, 2020) Innovation of The Year (British Bank Awards, 2020) Featured in Best Startups To Watch (Seedtable, 2020, 2023) Best Talent Acquisition Team (LinkedIn Talent Awards, 2021) Featured in 150 Fastest Growing Companies to Work for in America (Otta, 2021) Best FinTech Employer of the Year (SFF Global FinTech Awards, 2021) Featured in Employer Branding Stars (EBstars Awards, 2022, 2023)	Top 100 Companies with Fastest Sales Growth (Sunday Times Virgin Fast Track 100 – 2nd place in 2008 and 28th place in 2010) Best European Currency Broker (Overseas Living Magazine – 2010 and 2011) Most Dynamic Growth Business (Cornwall Business Awards – 2014) Winner of Winners (Cornwall Business Awards – 2016) Employer of the Year (Cornwall Business Awards – 2016) Customer Focus ((Cornwall Business Awards – 2016 and 2017) Best Value International Money Transfer (Mozo Gold Experts Choice Awards – 2016, 2017, and 2022) International Money Transfer Provider of the Year (Moneyfacts Consumer Awards – 2016, 2017, 2018, 2019, 2020, 2021, and 2022) Best Customer Service (Moneyfacts Consumer Awards – 2016, 2017, 2019, 2020, 2021, and 2022) 5-Star Rating for Outstanding Value International Money Transfers (Canstar – 2018, 2019, 2020, 2021, and 2022) Highly Commended Best Business FX Provider (Business Moneyfacts Awards – 2022)

Revolut Pros & Cons

Revolut Pros

• Offers a full range of banking features
• Exceptional customer support
• User-friendly debit card services
• Zero transfer fees for smaller transfers
• Attractive foreign exchange rates
• Comprehensive suite of business-oriented features
• Option to trade in cryptocurrencies
• Virtual cards for secure online transactions
• Broad coverage of services globally
• Wide range of supported currencies for travelers
• Fast money transfers

Revolut Cons

• Not designed for large-scale money transfers
• Complex fee structure
• Limited scope of in-app currency support
• No cash pickup options
• A relative newcomer in the financial industry

TorFX Pros & Cons

TorFX Pros

• A range of payment options for those with a UK bank account
• Top-notch customer service
• Excellent Trustpilot score
• Zero transfer fees
• Extensive global reach
• Significant industry experience
• Quick international money transfers
• Exchange rate alerts option
• Suitable for all kinds of money transfers
• Unlimited maximum transfer amount
• Numerous industry accolades

TorFX Cons

• Higher exchange rates compared to some competitors
• Low limits on regular payment transfers
• Limited support for uncommon currencies
• Absence of instant custom quotes option

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