Comparing different service providers before sending money overseas is always a good idea. This is because no single company serves the needs of everyone equally well. If you plan to use the services of Western Union or TorFX but cannot make a decision, paying attention to your individual requirements is the ideal starting point.
One way to determine where the TorFX vs. Western Union comparison stands in the real world is to turn to Trustpilot, a review-based platform. Here, while TorFX averages at 9.4 out of 10, Western Union scores 8.4 out of 10.
Selecting TorFX or Western Union for your next overseas money transfer requires that you consider various aspects, which include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
In this section of the TorFX vs. Western Union comparison, the balance tilts in favor of the former.
- The cost of a transfer depends on the currencies involved, the payment method, and the transfer method.
- Sending money to a bank account is usually more cost effective than a cash transfer.
- Payments made using bank accounts are typically the most cost effective; with debit card, credit card, and cash payments attracting higher fees.
- Use the online price estimator to check how much you might end up paying as fees.
Ease of Use
No matter whether you select TorFX or Western Union, initiating an overseas money transfer remains rather straightforward. In addition, both companies provide apps for devices that run on iOS and Android.
- Western Union serves individuals and businesses.
- You may use its website in a number of languages, some of which include English, German, Portuguese, French, Spanish, Japanese, and Chinese.
- Acceptable modes of payment, depending on where you live, include cash, bank account transfers, debit cards, and credit cards.
- Transfer methods, depending on where the recipient lives, include bank account transfers, transfers to mobile wallets, and cash transfers.
- You may use its services to send money to inmates in correctional facilities within the United States.
- TorFX provides services for individuals and businesses.
- Other than its UK-based website for the global market, TorFX also operates a dedicated website for the Australian market.
- Access to both TorFX websites comes only in English.
- You may pay for your transfer using a bank account, a debit card, or a credit card.
Regular Overseas Payments
This section of the TorFX vs. Western Union comparison produces a clear frontrunner. While TorFX lets you set up scheduled transfers according to your requirements, Western Union does not offer this functionality yet.
- Learn more about Western Union Competitors and Alternatives.
- Which one is the best option, FC Exchange or Western Union?