- Verified customer
Sent a large sum of money from Canada to Australia. Commonwealth bank offered me an abhorrent exchange rate so I decided to use TorFX to get me a better rate. This was my first time using an intermediary FX service.
Money landed in my account today and TorFX successfully found me a much fairer rate compared to what the big banks were offering me. In total, this process saved me about 6000 dollars compared to if I just wired directly into my bank.
Obviously happy with the end result, and my account manager Adam Moonen provided a good service...overall. My only small gripe about the process was I could have used a little bit more transparency during the process. I had to send the funds to London before I had any idea what exchange rate I would be getting, and I felt a little bit in a dark for a short duration. This was especially nerve-racking considering the amount of money being transferred and also since it was my first time using a service like this. However, the end result is exactly what I was hoping for, so that's all I can ask. The amount of money this process saved me deserves the 5 star rating. Thanks TorFX and Adam
Terrible customer service, no communication, delays, multiple necessary steps and no progress
Attempted to join this service to perform a wire transfer AUS to US. Was offered an account manager who never answered the phone. Multiple phone calls from my end, different person each time, more documents required each time. No communication from TorFx on progress or requirements, just me chasing them up and being requested to send more and more information. Felt Like An Identity Theft Scam! Was requested to provide passport, drivers licence, medicare card, credit card statement, bank statement, rental agreement, rental receipt.. each time an extra bit of information was requested. Gave up in the end, signed up with a competitor and performed a wire transfer within 15 minutes.
Joke of a service
Great customer service, good rates, simple to use.
Monique was my personal account manager. She answered my many questions, and guided me through the process of doing a large transaction. Very happy it all went smoothly and got a much better rate than going through the normal banks.
Fake reviews here! Pay attention to the 'one star reviews' only. Once they have your funds you will be taken to cleaners, emails ignored, pathetic rate etc
ACCC or Queensland Fair Trading would love to hear about your experience with these clowns.
5 Star Service From Jack Maloney
Our personal account manager walked us through the entire process and made something that is completely foreign to us a breeze. We initially used a competitor and learnt the hard way that the cheapest rates come at a cost, when things go wrong you’re entirely on your own!
TorFX are the real deal, thank you Jack!
- Verified customer
Be careful to ensure rates quoted on email are those you get when it come time to trade
I found that I opened an account based on an email of a rate which I was never able to actually get when it came time to deal. They initially were much better than another provider, but after I opened an account were unable to provide a competitive rate. This may be, as they say, due to to volatility in the market, but since their position changed from much better to significantly worse than another provider, I am suspicious that they offer a rate to entice you to open an account, and then blame the market when they can not match this later. ...Also: beware that when you agree a transfer with them on the phone that this is apparently legally binding prior to any transfer of funds actually being made - this was not clear to me from my conversation with them, but they insisted that I was legally bound by this and insisted a make the transfer with the bad rate I had unfortunately agreed with them.
I never write customer reviews. However after working with TorFx and specifically with Jack, I have to say this has been the best customer experience I have ever had. Jack always provided, quick polite and correct answers. TorFx was extremely accomidating. I could not recomend any other company more highly.
Fantastic Service and Huge Savings
Our friends referred us to Jack at TorFX after they had emigrated from the UK to Australia and sent their life-savings through TorFX.
Jack was a professional and made the whole process easy, which is exactly what we were after as we aren't tech savvy. We have recently completed our transfer and saved enough through TorFX that we can almost pay off our next holiday.
It was an absolute pleasure to deal with this company.
great money transfer company
I needed to transfer money from Australia to france to buy a property.i transferred money 6 times with TORFX and it worked perfectly everytime.i was given a contact at TORFX and dealt with him directly .Easy.no hassles.It save me $25000 by using TORFX and not my bank.Will work with them again.
Don't waste your time with TorFX
I had the option of choosing from a range of FX vendors but settled on TorFX as I was assigned an account manager and thought I'd get a lot more care, advice and assistance in obtaining the best possible rates.
Not much advice or care once I transferred money through - when seeking guidance around what sell rates to set the conversation was vague and the account manager insinuated that I need to set the rate.
Watch out with their clause about no fees. There are fees that they say are absorbed but those fees are attributed to their own bank ac...count. Nothing whatsoever to do with me or my transaction, it's completely TorFX's responsibility. If I transfer $200K as far as I'm concerned TorFX will get $200K. Any fees that are incurred is between TorFX and their bank. I did incur fees when transferring funds from my bank overseas though which I settled and had confirmation in an email from my TorFX account manager that this would be reimbursed. TorFX were pretty quick to decline my request for reimbursement citing that they had paid the fees imposed by their bank. I did point out that the fees were incurred by their bank on their account - nothing to do with me. They opted to send me an Eftpos card to cover the fees... no sign of the Eftpos card as yet... which is fine as they aren't getting any more of my business. Some other very disappointing aspects with TorFX was that I had to chase them to get the best rate. In fact I got so fed up with how much of a gap there is between TorFX's rate and I ended up transferring $100k through Transferwise. Yes I incurred a fee but it was insignificant in terms of the rate (0.971) I got versus the time I spent waiting for TorFX's rate to reach my set sell rate (0.95). 2 days versus nearly 8 weeks. Transferred close to $800K in a matter of weeks with Transferwise at an exceptional rate with some insignificant fees I was happy to wear.
Impose fees and the rate is difficult to negotiate
I recently used TORFX to transfer funds from the US.
Upon transferring funds to TORFX, I was given a conversion rate that was virtually the same as the bank. After significant negotiations over a number of days, which involved signing up to other services, I was given a exchange rate better than the bank.
I was charged a fee, which TORFX said was incurred by the sending bank. The Bank I sent the money from provided a receipt and indicated that the fee was imposed by TORFX. I subsequently used worldfirst to transfer another lot of funds, there w...
Very helpful and easy
I had never transferred money this way before. It is so much easier than the banks and the banks charge a lot for the fees. As I had never done this before my account manager Edward Zieger was fantastic and went through everything with me over the phone while I done the transfer. Now thanks to Edward the money will go through within a couple of days. I will highly recommend TorFX to other people.
Stay well away
Never again kept looking for information on where the funds came from supplied them with info and in the wind up the even gave them 6 months bank statements. My accountant information still wanted more so just to advise you that i
never again will do do business with this company.
- Verified customer
Very supportive and good exchange rate
Recently dealt with TorFx to receive an inheritance from the UK. The exchange rate they offered meant an extra $2300 for me compared to major bank rates. On top of that my account manager, Sara, was extremely helpful through the whole process. Advising me on the best way to proceed when I was sent a GBP cheque instead of direct deposit and offering for TorFx to get in contact with the UK solicitors if required. I was impressed they went to so much effort for someone who was most likely processing just a one-off transaction.
- ‹ Prev
- Next ›
Questions & Answers
How long the transfer going to receive from Uk to Philippines? Because my husband send me last October 17 suppose to receive october 19 bit until now not yet.. waiting the money to my account.. what Im going to do pls advise Im start to worry.. is that normal to have a delay??
Hi, if you ask your husband to give us a call we'll be able to give him an update on the status of his transfer.
Best wishes, TorFX
Please can you advice me on ALL of your charges; I need to send a small amount of money to a Thailand account from Australia. Where are you based?
While we wouldn't charge anything for making the transfer, you might be charged intermediary fees.
The majority of banks throughout the world have correspondent/ intermediary banks in each country, which they use to clear the relevant currency.
It's very difficult to know what these third parties will charge as it's determined by their individual policies. It's also down to the receiving bank which banks the funds are routed through, so this is completely out of our control.
Please give us a call if you'd like more information!
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.