It is worth noting the both Currencies Direct and TorFX are owned by the same parent company. So, while you will notice how they differ in their operations, they are essentially competing against themselves. It is still important to ensure that you choose the one that suits you best.
Factors such as exchange rates, payment methods, and supported countries have a bearing on the fund transfer company one might use. When it comes to choosing TorFX or Currencies Direct, things are no different. While both companies are better alternatives to most leading banks, selecting one over the other requires some consideration.
Taking the Currencies Direct vs. TorFX comparison to Trustpilot gives you an idea of what customers of both companies have to say about the services they have received. Currencies Direct scores an average of 9.1 out of 10, whereas the TorFX average stands at 9.7 out of 10.
Choosing Currencies Direct or TorFX requires that you pay attention to different factors in line with your individual requirements. Make a decision only after checking all the sections of this comparison:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Fund Transfer Fees
Compared to banks, you can save a tidy sum in fees whether you select TorFX or Currencies Direct.
- TorFX will not charge any fees to process your funds transfer.
- The company has minimum transfer limits in place. For the UK-based website, it is £50. It changes to AUD $100 with the Australian website.
- Currencies Direct processes around 90% of its transfers without fees.
- If, for any reason, your transfer attracts a fee, you find out about it ahead of time. If you transfer regularly overseas. Contact your account professional to discuss the best arrangement for your needs.
- Refer to the FAQs section on the Currencies Direct website to find out how much your transfer might cost.
Ease of Use
One company scores higher than the other in this aspect of the Currencies Direct vs. TorFX comparison by providing website access in foreign languages. Both companies let you register online.
- TorFX provides services for individuals and businesses.
- The company operates two websites – a UK-based website for the global audience, and an Australia-based website.
- Access to both TorFX websites is only available in English.
- You can pay for your transfer via an electronic bank transfer, a debit card, or a credit card.
- TorFX UK customers get access to apps for mobile devices, but TorFX Australia customers do not.
- You can register with Currencies Direct as an individual, a business, or an online seller.
- Access to the Currencies Direct website comes in English, Spanish, French, Italian, Portuguese, Dutch, Norwegian, Swedish, and Chinese.
- Depending on where you live, you can pay for your transfer via an electronic bank transfer, a debit card, a credit card, or even a check.
- The company provides apps for iOS and Android.
Regular Overseas Payments
This section of the TorFX vs. Currencies Direct comparison rates both companies equally well. Both give you the ability to schedule routine transfers according to your requirements.
- Get more information from TorFX Review.
- Learn more from Currencies Direct Review.
- Get a more in depth feel for CurrencyFair features.
- Is CurrencyFair’s competition up to the task?