Compare TorFX vs WorldRemit

Tor Currency Exchange Limited Logo
Trustpilot Rating
Reviews 3,391 | Excellent
 (4.8)

Tor Currency Exchange Limited is an electronic money institution focused on international money transfers. Tor Currency Exchange Limited offers money transfers, regular payments, repatriation of funds, virtual accounts to individuals, businesses. Incorporated in the United Kingdom, Tor Currency Exchange Limited is authorized and regulated by the Financial Conduct Authority. Tor Currency Exchange Limited is doing business as TorFX.

WorldRemit Ltd Logo
Trustpilot Rating
Reviews 38,402 | Excellent
 (4.5)

WorldRemit Ltd is an electronic money institution focused on international money transfers. WorldRemit Ltd offers international payments, digital wallets to individuals. Incorporated in the United Kingdom, WorldRemit Ltd is authorized and regulated by the Financial Conduct Authority.

TorFX Business Focus
international money transfers
TorFX Products
  • virtual accounts
TorFX Services
  • money transfers
  • regular payments
  • repatriation of funds
TorFX Clients
  • individuals
  • businesses

View TorFX Profile +

WorldRemit Business Focus
international money transfers
WorldRemit Products
  • digital wallets
WorldRemit Services
  • international payments
WorldRemit Clients
  • individuals

View WorldRemit Profile +

Compare Money Transfers

TorFX WorldRemit
Speed2-3 days0-2 days
Countries150+ countries150+ countries
Currencies60+ currencies110+ currencies
Sending From
  • bank accounts
  • Visa debit cards (GBP)
  • bank cheques (GBP)
  • TorFX accounts
  • bank accounts
  • debit cards
  • credit cards
  • WorldRemit wallets
Receiving To
  • bank accounts
  • bank accounts
  • mobile phone accounts
  • cash pick-up points
  • airtime top-ups
  • physical cash door-to-door
  • WorldRemit wallets
Make Transfer Make Transfer
 

Transfer Costs

TorFX

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

WorldRemit

Transfer Fees
Zero fees on your first money transfer
Exchange Rate
Exchange rate is displayed upfront

Transfer Speed

TorFX

It can take 2-3 working days for the money to arrive depending on the currencies involved and the destination country.

WorldRemit

In most cases, transfers sent using WorldRemit arrive within minutes.
In general, the delivery time will be as follow:

  • Cash Pickup. Available to collect instantly.
  • Mobile Money. Within minutes.
  • Airtime top-up. Within minutes.
  • Bank transfer. Transfers within minutes are available to selected banks; other thing the timing depends on include: the bank, day of the week, transacion creation time.

Available Currencies

TorFX

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 Methods

TorFX

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.

WorldRemit

Bank Transfer
Sender needs to transfer the full amount from his/her own bank account into WorldRemit's bank account.
WorldRemit Wallet
Transfers are instantly processed and the Wallet allows your recipient to receive, send and withdraw funds in multiple currencies.
Payment Cards
WorldRemit accepts most types of debit, credit and pre-paid cards that are issued by Visa or Mastercard. WorldRemit cannot accept cards from the following issuers:

  • Amex
  • Diner’s Card
  • Union Pay

Other Methods
  • Poli
  • Interac
  • iDEAL
  • Sofort
  • Apple Pay
  • Trustly

Receiving Methods

TorFX

Bank accounts
TorFX offers sending money to bank accounts only.

WorldRemit

Mobile Money
Most mobile money services are offered by local mobile telecoms operators who have received a license to operate electronic payments services. Before sending money to a mobile money service using WorldRemit, please make sure that your recipient has a mobile money account.
Cash Pickup
Cash pickup transfer is a payment that your recipient can collect as physical cash from a supported location within WorldRemit's local partner network.
Bank Transfer
Direct to bank is a transfer when the money i s delivered straight to the recipient’s bank account.
Airtime Top-up
Top-up is adding credit to a pre-paid phone. Airtime top ups sent via WorldRemit are usually instant.
WorldRemit Wallet
Transfers are instantly processed and the Wallet allows your recipient to receive, send and withdraw funds in multiple currencies.

Sending Countries

WorldRemit

WorldRemit provides sending money from 50+ countries.

Receiving Countries

WorldRemit

WorldRemit supports sending money to 150+ countries.

Advantages and Disadvantages

Advantages of TorFX Transfers

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

Advantages of WorldRemit Transfers

Broad coverage of countries
Variety of sending options
Variety of receiving options

Disadvantages of TorFX Transfers

Receiving money to bank accounts only

Disadvantages of WorldRemit Transfers

Have to open an account and pass identity verification
Account opening available to individuals only

How TorFX Transfers Work

1.
Open an Account
Opening an online account is easy, fast and free.
2.
Get a Rate
Once registered, you can get a dealing rate easily online.
3.
Trade Online
You can buy currency and make transfers online 24/7.
4.
Complete Transfer
Your transfer will arrive safely into your bank account.


How WorldRemit Transfers Work

1.
Create your account
Register for free at WorldRemit website or download WorldRemit app.
2.
Provide transfer details
Choose to send to one of 150 countries and add your transfer method.
3.
Choose how much you want to transfer
You will see WorldRemit fees and exchange rate upfront.
4.
Add the recipient's details
Or choose from a list of people you’ve sent to before.
5.
Pay for your transfer
You can pay for the transfer with a payment card (debit, credit and prepaid), bank transfer, Poli, Interac, iDEAL, Klarna, Apple Pay, Trustly.


See Also