TorFX vs Send Payments: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	TorFX	Send Payments
Homepage
Transfer Fee	No fee	No fee
Average Exchange Rate Markup	1.9% – 2.7%	0.01
Minimum Transfer Amount	£100 (or currency equivalent) (£500 for recurring money transfers).	AU$250
Maximum Transfer Amount	No limit (£10,000 for recurring money transfers).	No limit (AU$25,000 for recurring, daily transfers).

Reviews

	TorFX	Send Payments
Trustpilot Rating	4.9	4.9
Number of Trustpilot Reviews	6,800	250
iOS App Rating	1.8	N/A
Number of iOS App Reviews	6	N/A
Android App Rating	4	N/A
Number of Android App Reviews	270	N/A

Features

	TorFX	Send Payments
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	Yes	Yes
In-person Transfers	No	No
Available Countries	120	180
Number of Currencies	40	37
Payment Methods	Bank account Debit card Credit card Check	Bank account PayID POLi
Receiving Methods	Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Phone
Supported Languages	English	English
Transfer Speed	0-2 days	0-2 days
Dedicated Dealer	Yes	Yes
Instant Custom Quote	No	No
Business Features	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Rate alerts	Spot contracts Delayed contracts Limit orders Stop-loss orders Recurring transfers
Debit Card	None	None
Cancellation Policy	Transfer cancellations are possible depending on the status of the transfer and the contract type. Cancellation and refund costs may incur.	Most money transfers can be canceled upon contacting Send Payments. Note that transfers that have been completed are seldom refunded.
Suitability	Small and large money transfers	Small and large money transfers

Company Comparison

	TorFX	Send Payments
Year Founded	2004	2018
Headquarters	Penzance, Cornwall, UK	Gold Coast, Queensland, Australia
Other Office Locations	the UK, Australia, Europe, Singapore, South Africa, and the USA	Sydney and Melbourne (Australia)
Annual Trading Volume	£10 billion	AU$200 million
Number of Employees	550	60
Number of Clients	425000	N/A
Regulatory Institutions	FCA in the UK AUSTRAC in Australia	ASIC and AUSTRAC in Australia
Awards	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)	Best International Money Transfer Provider (Mozo Experts Choice Awards, 2020) Finnies Finalist (FinTech Australia Awards, 2020) Most Promising Money Transfer Service for 2022 (MoneyTransferComparison, 2022)

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

Send Payments Pros & Cons

Send Payments Pros

• A large selection of payment methods
• Top-tier customer service
• Stellar Trustpilot score
• No transfer fees
• Favorable exchange rates
• Fast money transfers
• Personalized care with dedicated account managers
• Customizable business tools including stop orders, limit orders, and delayed contracts
• 180 countries available
• Slick web design

Send Payments Cons

• No option for cash pickup
• A minimum limit of AU$250 for transfers
• A small selection of rare or exotic currencies
• No option for instant, tailored quotes
• No mobile app

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