Compare „NIUM EU“ vs TorFX

„NIUM EU“

UAB „NIUM EU“ Logo
TheBanks.eu Rating
Good  (3.65)
global money transfers

UAB „NIUM EU“ (Lithuania) is an electronic money institution authorized and regulated by the Bank of Lithuania. „NIUM EU“ is focused on global money transfers. The company offers international money transfers, foreign exchange, e-wallet accounts to individuals, businesses. In 2023 UAB „NIUM EU“ total safeguarded customer funds were 895,000.00 EUR and revenue was 540,000.00 EUR. UAB „NIUM EU“ is doing business as InstaRem.



TorFX

Tor Currency Exchange Limited Logo
TheBanks.eu Rating
Good  (3.80)
international money transfers

Tor Currency Exchange Limited (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. TorFX is focused on international money transfers. The company offers money transfers, regular payments, repatriation of funds, virtual accounts to individuals, businesses. In 2023 Tor Currency Exchange Limited had total assets of 212.70 mln GBP, and generated net income of 21.96 mln GBP. During 2023 the company had 80 employees in average. Tor Currency Exchange Limited is doing business as TorFX.


Business Overview

Products
  • e-wallet accounts
  • virtual accounts
Services
  • international money transfers
  • foreign exchange
  • money transfers
  • regular payments
  • repatriation of funds
Clients
  • individuals
  • businesses
  • individuals
  • businesses
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TheBanks.eu Review

Operating EnvironmentVery Friendly (4.96)Very Friendly (4.81)
Product RangeNarrow (1.54)Narrow (1.54)
Market NicheBroad (4.18)Average (2.86)
Company BackgroundStrong (3.41)Very Strong (4.32)
Customer SupportAverage (2.67)Good (3.43)
Customer SentimentExcellent (4.23)Excellent (4.92)
TransparencyAverage (2.88)High (4.08)
Overall RatingGood (3.65)Good (3.80)

Compare Money Transfers

Speed1-3 days1-2 days
Amount Rangen/a100 GBP - unlimited
Countries40+ countries120+ countries
Currencies10+ currencies40+ currencies
Sending From
  • InstaRem e-wallets
  • bank accounts
  • debit cards
  • bank accounts
  • debit cards
Receiving To
  • bank accounts
  • bank accounts
Transfer Options
  • one-time payments
  • regular payments
  • large amounts transfers
Risk Management
  • spot contracts
  • forward contracts
  • market orders
  • limit orders
  • stop-loss orders
Make Transfer Make Transfer

Available Currencies

AUAUD (Australian dollar)
CACAD (Canadian dollar)
EUEUR (Euro)
GBGBP (Pound sterling)
HKHKD (Hong Kong dollar)
ININR (Indian rupee)
MYMYR (Malaysian ringgit)
SGSGD (Singapore dollar)
USUSD (US dollar)

AEAED (UAE dirham)
AUAUD (Australian dollar)
BHBHD (Bahraini Dinar)
BWBWP (Botswana Pula)
CACAD (Canadian dollar)
CHCHF (Swiss franc)
CNCNY (Renminbi (Chinese) yuan)
CZCZK (Czech koruna)
DKDKK (Danish krone)
EGEGP (Egyptian Pound)
EUEUR (Euro)
FJFJD (Fijian Dollar)
GBGBP (Pound sterling)
HKHKD (Hong Kong dollar)
HRHRK (Croatian kuna)
HUHUF (Hungarian forint)
ILILS (Israeli shekels)
ININR (Indian rupee)
JPJPY (Japanese yen)
KEKES (Kenyan Shilling)
KWKWD (Kuwatiti Dinar)
LKLKR (Sri Lankan Rupee)
MAMAD (Moroccan Dirham)
MUMUR (Mauritian Rupee)
MXMXN (Mexican peso)
MTMTL (Maltese lira)
NONOK (Norwegian krone)
NZNZD (New Zealand dollar)
OMOMR (Omani Rial)
PHPHP (Philippine peso)
PLPLN (Polish złoty)
QAQAR (Qatari Riyal)
RORON (Romanian new leu)
RURUB (Russian ruble)
SASAR (Saudi riyal)
SESEK (Swedish krona/kronor)
SGSGD (Singapore dollar)
THTHB (Thai baht)
TRTRY (Turkish lira)
TTTTD (Trinidad and Tobago dollar)
UGUGX (Ugandan Shilling)
XCD (East Caribbean dollar)

Sending Countries

„NIUM EU“ allows to send money from 38 countries, namely:

AU Australia
CA Canada
IT Italy
FI Finland
LI Liechtenstein
NO Norway
CY Cyprus
HU Hungary
IE Ireland
LT Lithuania
DE Germany
EE Estonia
BE Belgium
LV Latvia
NL Netherlands
AT Austria
PL Poland
BG Bulgaria
LU Luxembourg
ES Spain
FR France
HR Croatia
DK Denmark
CZ Czech Republic
PT Portugal
RO Romania
SE Sweden
SI Slovenia
MT Malta
SK Slovakia
GR Greece
IS Iceland
GB United Kingdom
HK Hong Kong
IN India
MY Malaysia
SG Singapore
US United States

Receiving Countries

„NIUM EU“ allows to send money to 54 countries, namely:

BD Bangladesh
CN China
HK Hong Kong
IN India
ID Indonesia
JP Japan
MY Malaysia
NP Nepal
PK Pakistan
PH Philippines
SG Singapore
KR Korea, Republic of
LK Sri Lanka
TH Thailand
VN Vietnam
AT Austria
BE Belgium
BG Bulgaria
HR Croatia
CY Cyprus
CZ Czech Republic
DK Denmark
EE Estonia
FI Finland
FR France
DE Germany
GR Greece
HU Hungary
IE Ireland
IT Italy
LV Latvia
LT Lithuania
LU Luxembourg
MT Malta
MC Monaco
NL Netherlands
NO Norway
PL Poland
PT Portugal
RO Romania
SM San Marino
SK Slovakia
SI Slovenia
ES Spain
SE Sweden
GB United Kingdom
US United States
CA Canada
MX Mexico
AR Argentina
CL Chile
CO Colombia
PE Peru
AU Australia

Sending Methods

InstaRem e-Wallets
To start making transfers with InstaRem, it is required to create and top up an account with InstaRem, InstaRem e-Wallet.
Bank Accounts
InstaReM e-Wallets can be topped up through Electronic Funds Transfer (EFT) / Bank Transfers / Wire Transfers in all countries.
Debit Cards
InstaReM e-Wallets can be topped up with debit cards in the EU countries.
Other Methods
You can also send money through POLi (in Australia), Debit Card (in EU), FPX (in Malaysia) and ACH Pull or Bank Transfer method (in USA).

TorFX Account
TorFX offers sending money from a sender's TorFX account only.
So, to be able to perform a transfer, a sender should first open an account with TorFX and deposit enough money to this account.
TorFX account can be topped up from the sender's bank account as well as via Visa debit cards and bank cheques. Both the cards and bank cheques should be nominated in GBP. Client funds are held at segregated TorFX's client accounts with Barclays bank.

Receiving Methods

Bank Accounts
InstaRem supports sending money to bank accounts only.

Bank accounts
TorFX offers sending money to bank accounts only.

Transfer Costs

Transfer Fees
TorFX does not charge anything outside of the actual exchange rate TorFX quotes.
Exchange Rate
TorFX secures a highly competitive exchange rate.

Transfer Speed

It can take 1-2 working days for the money to arrive depending on the currencies involved and the destination country.

Advantages

 Available to both individuals and businesses

 Spot and forward contracts
 Available to personal and business customers
 Dedicated account managers

Disadvantages

 Few currencies are available
 Receiving money to bank accounts only

 Bank-to-bank transfers only
 No cash exchange or pre-paid travel cards

How It Works


How TorFX Transfers Work

1.
Register with TorFX
Registering online or by phone with TorFX is fast, free and easy.
2.
Get a Rate
Once registered you can get a quote or secure a rate online or over the phone.
3.
Arrange Your Transfer
Buy currency online or over the phone with your account manager.
4.
Complete transfer
Your purchased currency will arrive safely into your nominated bank account.




See Also

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