TorFx

Highly disappointed. After many uneventful smaller transfers over several months, we were ready to transfer the funds from a house sale, $1.4m Long story short, TorFX held onto it for 3 days before passing it on to our bank in Australia. Multiple phone calls to the dedicated Account Manager, Daniel Christensen were met with an arrogant attitude… Read more

and fobbing me off with "you'll get an email when the transfer happens" Only after now reading reviews do I realize what they're up to. Delaying and holding onto people's money collecting interest. I would rather it was me getting 3 days interest on 1.4mil My advice is go elsewhere!

Terrible – Complete arrogance and no care attitude from Mark Jackson.I needed an immediate call back but was told BY HIM,that he needed a lunch break.They lost over AUD $600,000 of transfers soley because of his attitude.Tried Xe absolutely perfect customer service.

Disappointing experience with TorFX – My review is from my dealings with TorFX in 2018/2019. 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… Read more

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 account. 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.

The rate alerts that you can set - it's completely pointless as the rate alert shows the indicative rate at the time. In a nutshell it means you have no idea what TorFX's rates are and when comparing the rate of TorFX to other FX vendors they are considerably lower. In most case when your rate has been met and you get an alert it's just an indication and well your funds will not be sold at the rate you had set as it was just an indication.

I ended up selling some of our other properties a few years later and needless to say.. we didn't use TorFX...

TorFX are Amazing – Adam Moonen and TorFX have been absolutely amazing. I was contacted by Adam after completing an enquiry form online. From the moment Adam contacted me, I was treated with the utmost respect. I was very sceptical at first, as I had never heard of TorFX. I had a lot of questions about security and responsibility. I had always used my bank for any… Read more

transfers, although the banks exchange rates were always really expensive. I was about to purchase a house in the UK and transfer over AU$600K. Naturally I wanted to make sure my money was safe. Adam provided me with all the appropriate information to make my own independent enquires regarding safety and security of my funds. All of TorFX credentials checked out perfectly. I then contacted Adam to make the transfer. He was always patient, courteous, reassuring and exceptionally professional. It only took 48 hours for my funds to be transferred to my Lawyer in the UK. It was seamless and worry free. The real icing on the cake .................... I am AU$18,000 better off by using TorFX as opposed to my own bank. Don't take my word for it. Do your own research.

I cannot recommend Adam and TorFX enough.

Fantastic.

Roger S.

Good overall – 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… Read more

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

First time satisfaction – It is the first time I have used a currency exchange service. One of the managers contacted me and gave me a quick rough estimate and I registered for an account, got help easily when needed. I was a bit skeptical but throughout the process I could easily get in touch with one of their managers for help. They were friendly, professional and the transfer was done overseas in less than one business day. Would recommend them highly.

Personalised service that excels – I was searching on the internet for another foreign exchange company recommended by a friend when I came across TorFx so I contacted both. Someone from TorFx rang me immediately and I was advised I would have my own assigned account manager. The individualised service is one of the best and most notable points of difference between the companies.… Read more

TorFx made my money transfers quick and easy at a very competitive exchange rate. It was SO MUCH cheaper and faster than my experience of going through my bank. I would never do it through a bank again and have passed that advice on to others. I highly recommend TorFx.

Excellent – I have used them for years and never an issue. Rates are better than banks and just as quick. Professional and Monique my service manager is a pleasure to deal with. The app is very useful for tracking funds. Only issue i had was a UK's banks problem but Torfx dealt with it without a drama.

Not so quick – Their website states that they will provide a quick quote. So the first step is to give them my email address and phone number details. Next they send me a reply that the quote will only be forthcoming when an account is opened. What happened to the quick quote?

Complete Disaster! – Please note that this is not a suitable way to transfer for a business. I was only saving $130 compared to using my bank, and to be honest, if I could pay someone $130 to fix this mess now I would. My money is stuck with the intermediate bank and Torfx cannot do anything to return my money or guarantee I will receive the exact funds back if they… Read more

are unsuccessful with transferring. In my personal opinion it's not worth the headache using Torfx to save a few bucks. The difference between my banks fees and Torfx's are negligible. I only have myself to blame for thinking I should save a few bucks and use Torfx. Now I'm a few thousand out of pocket because they are holding my money and I am now likely to miss an expo for my new product launch as my products can't be shipped without payment first.

Delay tactics – Negative: Delay tactics once the funds are in their account. That's when all the questions start. Day one: "Can you send us a copy of the recipients I.D." The following day: "What is your relationship with the recipient" (Why this is their business I have no Idea) The following day: "Can you confirm your current address" The following day: Can… Read more

you send us a copy of your utility bill, e.d. power bill" After 5 days I told them that I am getting pissed off with their delay tactics, and the response was that they need to "confirm the details". What details, they've got everything they need to know?? And suddenly it could all be done the same day after I complained. But now the exchange rate has changed to my disadvantage and I lost p.12.000 (AU$.323.00) With the Banks now offering decent interest on deposits it becomes lucrative to hold on to YOUR and MY funds. Hence the delay tactics. For me, no more TorFX, I am back to WISE. No questions asked and instant transfers.

Been using for years. Never failed – I have been using these guys on and off for years, and they have nevere failed to deliver. They will ask for ID, and I suspect this is legislative. I did that, and great for year on end now.

Great service friendly staff – Torfx are a great company to deal with they do the same transfer as a bank but at better price and no fees. This does take a little longer to process but the security they follow was exceptional and happy to give them any information they asked for. highly recommend them. Show details

Disappointing in every point – First point: Each step of the way in order to be able to transfer money is made to collect as much personal information on you. They call you, subtilely asking for a lot of private information on top of the ID and proof of address send by email earlier, and if you refuse, the friendly tone directly changes. Their excuse is that they need every… Read more

piece of information on you for “lawful reasons”, when all other lawful platforms don’t require any personal information. Second point: They advertise a very interesting exchange rate on the phone and a range of how their rate varies throughout the day, but once every piece of information are given to open the account, you can quickly notice the rate is far away from the lowest range they advertised. Even after following all their instructions to access a better rate, I was loosing hundreds of dollars by processing the exchange with them instead of using different concurrent platforms. Lisa from TorFX ended up threatening me to close my account on the phone, after I refused to give them another set of unnecessary personal information. Conclusion: I do not recommend them at all.

Worst customer service – Do not use this company, they get hold of all your information. They do not provide any insight into who this information stored and protected. They simply do not reply to your email and phone calls if you ask any question in this regard. While they want hell lot of information from you on pretext of compliance. They do not want to answer your genuine questions around your identity protection.

Fast and Efficient Currency Exchange – I needed to do a international money transfer recently , checked out the bank, fees turned out to be on the ( high side ) I had Heard of TORFX before, so I give them a call, best call I ever made , got a far better rate, and within a few days my transfer was done. thanks to TORFX for a job well done, will definitely use them again. Mary Breslin

Efficiency – My latest transfer was urgent and complex. Torfx staff enabled it to be accomplished smoothly and speedily. They offered helpful assistance at every stage of the process.

Thank you TorFX – I was really worried to use someone other than my bank who I have used for 20+ years, TorFX beat my banks rates every time saving me money - thank you

Excellent service! – My experience with Torf had been excellent and I have used them many times over the past few years. The customer service is exceptional, as is my account manager's in-depth knowledge. It has been a pleasure to work with such a professional and competent staff member and, as a result of my personal experience, I would not hesitate to recommend this company to colleagues and friends. Show details

Amazing service – Really helpful staff. I didn't have a clue what I was doing, but my account manager stepped me through the process. I will definitely be recommending to my friends and family!!

Thanks TorFX – Very much appreciate TorFX looking after my business over the last few years. You have saved me money and have become a valued business partner for my fx transactions.

5 star effort – 5 stars for 5 star service from Ashleigh, she had excellent customer service, great communication and was attentive too all my needs. Thankyou again Ashleigh for making this process so easy.

Partnerships team are an excellent value-add to my clients – I have no hesitation in recommending my clients to TorFx. Personal service and always save them money. Amazing.

TORFX - a great company to exchange your currency – Transfer between UKP to NZD completed without any problems - as usual. TORFX has always been very efficient at transferring my funds. Their representative Andrew McArthur-Williams is a great asset for this company - and deserves a raise!

Competitive rates and so helpful – I work with the partnerships team and they go above and beyond to look after my client's foreign exchange. I feel comfortable in recommending them to everyone knowing they have great rates and stand-out service.

first timer – This was all new to me and I was a little apprehensive about sending money overseas. but the guys at Torfx were extremely patient and walked me through there entire process. I couldn't recommend them enough

Helping my clients save money – I work alongside Ashlee in the Partnerships team who always ensures my clients moving overseas and buying property receive the best rates on their transfers and outstanding service from their personal account managers! Can’t recommend enough!

The only one I trust! – TorFX helped me complete my first transfer after being a little bit nervous about the process. They instantly made me feel at ease and simplified each step for me. Overall very happy!