TorFX vs WorldRemit: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	TorFX	WorldRemit
Homepage
Transfer Fee	No fee	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.
Average Exchange Rate Markup	1.9% – 2.7%	1% – 1.6%
Minimum Transfer Amount	£100 (or currency equivalent) (£500 for recurring money transfers).	$1
Maximum Transfer Amount	No limit (£10,000 for recurring money transfers).	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).

Reviews

	TorFX	WorldRemit
Trustpilot Rating	4.9	4.1
Number of Trustpilot Reviews	6,800	78,800
iOS App Rating	1.8	4.8
Number of iOS App Reviews	6	172,000
Android App Rating	4	4.6
Number of Android App Reviews	270	179,000

Features

	TorFX	WorldRemit
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	Yes	No
In-person Transfers	No	No
Available Countries	120	145
Number of Currencies	40	70
Payment Methods	Bank account Debit card Credit card Check	Bank account Debit card Credit card Apple Pay Interac iDeal Trustly Klarna SOFORT POLi
Receiving Methods	Bank account	Online wallet Bank account Cash pickup Home delivery
Cash Pickup Option	No	Yes
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Mobile app
Supported Languages	English	English, French, German, Danish, Dutch, and Spanish
Transfer Speed	0-2 days	0-2 days (within minutes in 95% of cases).
Dedicated Dealer	Yes	No
Instant Custom Quote	No	Yes
Business Features	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Rate alerts	N/A
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.	Only when the transfer hasn’t been paid out. Bank and mobile wallet transfers may be refunded even after the transfer is completed if the recipient agrees to the refund.
Suitability	Small and large money transfers	Small money transfers

Company Comparison

	TorFX	WorldRemit
Year Founded	2004	2010
Headquarters	Penzance, Cornwall, UK	London, UK
Other Office Locations	the UK, Australia, Europe, Singapore, South Africa, and the USA	Poland (Krakow), USA (Denver), Philippines (Cebu), Australia (Sydney), Belgium (Brussels), Japan (Tokyo), Kenya (Nairobi), Malaysia (Kuala Lumpur), Rwanda (Kigali), Singapore, South Africa (Johannesburg), Somaliland (Hargeisa), Tanzania (Dar Es Salaam), Uganda (Kampala), and Canada (Toronto)
Annual Trading Volume	£10 billion	$10 billion
Number of Employees	550	1800
Number of Clients	425000	5.7 million
Regulatory Institutions	FCA in the UK AUSTRAC in Australia	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia National Bank of Belgium in EU FSPR in New Zealand FSA in Japan
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 Practice in Remittances for Development by IFAD (United Nations Agency, 2015) Technology Fast 50 (Deloitte, 2015, 2016, and 2017) Tech Track 100 (Sunday Times, 2016, 2017, 2018, and 2019) Excellence in Transformational Business (FT/IFC Transformational Business Awards, 2017) EY Entrepreneur Of The Year (2016) Bronze Award (European Contact Centre & Customer Service Awards, 2019) The Powerlist (BBC, 2020) Best for International Transfers (Best Money Transfer Apps – Investopedia, 2021 and 2023)

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

WorldRemit Pros & Cons

WorldRemit Pros

• Many payment methods
• Competitive foreign exchange rates
• Small transaction fees
• Excellent policy for transfer cancellations
• Instant, personalized cost estimates
• Cash pickup services available
• Mobile digital wallet features
• Comprehensive global service availability
• Strong coverage of over 70 unique currencies
• Wide local presence with offices in 15 nations
• Quick funds transfers
• Comprehensive and informative knowledge base

WorldRemit Cons

• Not ideal for transferring large sums of money
• No personal account managers available
• Lacks business solutions like forward contracts and limit orders
• Numerous criticisms pertaining to customer service

See More Comparisons:

TorFX vs Send Payments
TorFX vs Instarem
TorFX vs Key Currency
TorFX vs VertoFX
TorFX vs Moneycorp