Planning & Budgeting

What is the best way to transfer money internationally?

TorFX simplifies international money transfers through a convenient online service and app, competitive rates, and exceptional customer service. They secure their customers excellent exchange rates and ensure fast, secure currency transfers.

 - 7 Min Read
Last updated and fact checked:
What is the best way to transfer money internationally?
  • TorFX simplifies international money transfers with its user-friendly platforms.
  • They offer competitive rates ensuring value for money.
  • TorFX implements robust security measures and offers friendly customer support.
  • Their streamlined process ensures fast, secure, and cost-effective transactions.

What is the best way to transfer money internationally: FAQs

  • How do I transfer money internationally?

    When sending money abroad, you can use bank transfers, online payment services, or international money transfer companies. You need to enter the recipient's details and choose the currencies you’re exchanging from and to. It's important to consider fees, exchange rates, and transfer speed. Always double-check the recipient's information for accuracy and security.

  • What currencies do TorFX offer?

    TorFX specialises in handling transactions involving over 40 different global currencies.

  • Does TorFX have a minimum or maximum transfer amount?

    TorFX does not have a maximum transfer limit. Their Regular Overseas Payments service is designed for recurring transfers ranging from £500 to £10,000. With their online platform and app, you can also make transfers as small as £100 without incurring any fees.

  • What's the cheapest way to transfer money internationally?

    The cheapest way to transfer money internationally is often through specialist providers like TorFX. These currency experts typically offer competitive exchange rates and lower fees than traditional banks or wire transfers.

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In an increasingly interconnected world, the movement of money across borders has become commonplace and essential. Whether you send funds to family members abroad or pay for services, international money transfers have become an integral part of our global economy.

With TorFX, transferring money overseas isn't complex or risky. If you need to move money abroad (to fund an overseas property purchase, transfer wages or a pension or send money to loved ones), TorFX is your passport to stress-free international payments.

TorFX has been helping individuals and businesses save time and money on their currency transfers since 2004.

With their support, specialist services and unrivalled customer service, they can remove the hassle, simplify the process and help you protect your transfers from currency volatility.

Transfer money abroad with TorFX now!

How does TorFX work? 

Whether you’d rather arrange your transfers over the phone with your personal account manager or manage your money 24/7 through their online service and app, using TorFX is simple.

Register - You can open an account online, over the phone or via the app in minutes.

Get your rate - Secure an exchange rate online or by working with your TorFX Account Manager.

Make a transfer - Send the funds to TorFX for exchange, and they will ensure it reaches its destination. Please note while business customers can use an online service, the TorFX app is only available to private customers.

Let’s explore these steps further. 

1. Registering with TorFX

It's easy to get started with TorFX - you can open an account in just a few minutes. You can sign up online, over the phone, or through the TorFX app (available in the App Store and Google Play), and their dedicated team is ready to help if you need assistance.

After signing up, TorFX will assign you an Account Manager who can provide valuable guidance and support. They will provide you with regular market reports and updates on market movements and will keep you informed of the latest currency trends.

2. Securing your rate 

When you search for an exchange rate online, you usually see the interbank rate, which is only available to major financial institutions. TorFX’s goal is to secure you a highly competitive exchange rate with no added transfer fees.

Since exchange rates are highly volatile and fluctuate throughout the day, the exact exchange rate for your transfer will be set at the moment your transfer is confirmed.

TorFX also offers a rate improver guarantee that matches or beats any valid quote from banks or other providers, so you can be confident that you’re getting the most for your money.

3. Making the money transfer 

When you want to transfer your money, your Account Manager will confirm the current exchange rate and make the transfer according to your instructions.

For transfers under £25,000, you can use TorFX Online or their app. This service lets you transfer money at any time, track your transfer history, update your account details, and set up rate alerts. 

Whether you arrange your transfer over the phone, online or by app, the process is clear, and TorFX will not enter into a contract without your explicit confirmation.

What are the challenges of international money transfers?

Traditional methods of transferring money internationally, such as bank transfers or wire transfers, are known to be slow and costly. This is due to fluctuating exchange rates, which can lead to unexpected expenses and hidden fees that can diminish the transferred amount. There are also prevalent security concerns and the risk of fraud, particularly when using unfamiliar transfer services.

TorFX offers a solution to the challenges associated with international money transfers. With their multi-channel approach and commitment to customer satisfaction, they streamline the global money transfer process, ensuring fast, secure, and cost-effective transactions.

TorFX is part of a group which processes over 10 billion pounds in foreign exchange and international payments every year and has offices in the UK, mainland Europe, Australia, the USA, and South Africa.

TorFX prioritises security, implementing robust measures to safeguard your funds and personal information. They operate segregated client accounts, adopt stringent compliance procedures and hold a Level 1 rating (the highest level of creditworthiness) from credit rating agency Dun & Bradstreet.

What are the benefits of using TorFX over my bank?

As an award-winning international money transfer provider, TorFX offers numerous benefits for managing your currency transfers. You can secure a more competitive exchange rate than is available from high street banks and receive expert support and guidance from your Account Manager.

Their highly competitive exchange rates could help you make significant savings on international money transfers. Unlike most banks (and many other international money transfer providers), TorFX doesn’t charge any transfer fees.

TorFX provides various personal and business transfer options, including spot contracts, forward contracts and market orders, to help you maximise each transaction. You can also arrange transfers over the phone with your Account Manager or make 24/7 online transfers with TorFX Online and the TorFX app.

What should I consider when using TorFX?

When sending money across borders, you want a reliable service that makes the process smooth and worry-free. TorFX delivers all this, and more, via the following features:

  • Peace of mind: Your security matters. With TorFX, your money is protected with top-notch encryption and security measures, including PIN entry and biometric authentication.
  • Regulated Electronic Money Institution (EMI): TorFX is authorised by the Financial Conduct Authority.
  • Value for money: Nobody likes hidden fees or unfavourable exchange rates. With TorFX, you get competitive exchange rates and no transfer fees. That means more of your money goes where it should – to your loved ones or business partners.
  • Speedy transactions: TorFX ensures fast and efficient money transfers. The transfer time depends on the currency, destination, and receiving bank, but funds should typically arrive within one to two working days - exotic destinations could take slightly longer.
  • Global coverage: Whether you're sending money to a small town or a big city halfway across the globe, TorFX has you covered. With a vast network of partners worldwide, your money can reach over 120 countries.
  • Friendly customer service: TorFX has a friendly and knowledgeable customer service team that is ready to help. No matter the issue, they ensure your experience is smooth and pleasant. The quality of their service is reflected in their industry-leading Trustscore on Trustpilot and by their multiple award wins.

Simplifying the process of transferring money internationally

Transferring money internationally doesn't have to be a daunting task. With TorFX, the process is simplified and streamlined, ensuring that your funds reach their destination quickly, securely, and cost-effectively.

Whether sending money to a neighbouring country or halfway around the world, you can trust TorFX to get it there safely and on time.

Image Credit: Allef Vinicius at unsplash

The content on is provided for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, you should consult a financial adviser that is registered with the Financial Conduct Authority. Any references to products, offers, rates, and services from third parties or those advertised are served by those third parties and are subject to change. We may have financial relationships with some of the companies mentioned on this website. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors. We are not regulated by the Financial Conduct Authority to provide advice, to act as an authorised introducer, or to otherwise sell any financial services or products. However, we endeavour to only link to and highlight brands that are authorised and regulated by the Financial Conduct Authority and/or the Prudential Regulation Authority, and where your money will be protected by the Financial Services Compensation Scheme should you choose to buy a product or service from that particular brand.
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