TorFX is a UK based leading provider of foreign exchange services, offering very competitive currency exchange rates for international money transfers and an unrivalled personal service to private individuals and companies with a foreign currency exchange requirement.
Not the cheapest currency provider but perhaps the most convenient with locations on practically every street corner especially in developing world.
In order to send funds, a sender goes to a Western Union office and presents funds (plus fees) for “Next Day” or “Money in Minutes” service. A sender provides his or her name and address, the recipient’s name, and a designated payment destination. Western Union then provides the sender a 10-digit Money Transfer Control Number (MTCN) that must be transmitted separately by the sender to the recipient. The recipient then proceeds to a Western Union agent office in the designated payment location, presents the 10-digit MTCN, and a photo ID. Money is then paid out to the recipient. If a recipient lacks identification documents, the sender and receiver can set up a pre-arranged password. Funds are paid out in cash, although if payment exceeds a local maximum or cash on hand, a check is issued. Alternatively, a sender may forward funds online to a recipient by using Western Union’s online site, westernunion.com.
Fees differ based on originating and receiver countries and type of transfer. Generally, fees are less if using the website rather than using a partner agent location.
What are the normal fees with Tranzfers? Are there any hidden charges or receiving bank charges?
The fees are currency based e.g. If you are converting from UK Pounds, then the fee is £7. For each of the currencies you can Tranzfer, the fee is as follows:
Tranzfers guarantee no receiving bank fees in Australia, the UK and New Zealand. In other countries they minimise the chances that a receiving bank fee is charged by sending the money directly to your account from within that country.
If you’re planning on doing transactions larger than AUD 2,000 or equivalent then you should consider registering with Ozforex where the two fee free deal offer also applies.
FairFX has taken a revolutionary approach to the whole foreign exchange market for both individuals and businesses. They cut out the middle man and use state of the art technology to execute your orders and get your money to you.
By eliminating expensive Travel Money bureaus and kiosks, FairFX can provide fantastically priced Travel Money delivered to your door (in the UK).
Xoom is an online international money transfer service that offers a secure and fast way to send money from either bank account or credit card from their website to friends and family in these countries:
Recipients do not need a bank account or Internet connection to receive funds. Senders can fund their money transfer with a credit card, debit card or bank account.
Note the transfers must be made to Xoom in USD therefore the Xoom rate must be added to the Credit Card exchange rate which is typically 2.5%. The Xoom rates shown on BestExchangeRates take this double conversion into account.
HSBC Australia has partnered with Travelex to provide foreign currency services in HSBC branches around Australia, so you can organise your currency needs while you bank. Travelex is the world’s largest retail foreign exchange operator and serves customers in over 1000 locations. With over 50 currencies available in branches and over 35 currencies available to buy online, Travelex is the first stop over on your travel itinerary.
At Travelex counters in HSBC branches you will have access to foreign currency, Travelex Cash Passport, Travellers Cheques and other travel money related products.
For overseas transfers HSBC charge 3% of the total amount of each transaction.
HSBC UK Thing to know about ordering travel money online with HSBC UK :
- A £3.95 delivery charge applies to all online orders under £250
- Sterling Travellers Cheques incur a 1.5% handling fee
- Some less common currencies may take longer than 24 hours to deliver in which case we’ll inform you when you place your order
- Delivery to certain remote parts of the UK may take up to 3 working days
- You may be charged a cash advance fee by your card issuer. This will depend on the card issuer’s terms and conditions and you should refer to them for details
- You can place orders 24/7 online (subject to scheduled maintenance periods) but you can only arrange to have your currency delivered Monday to Friday excluding public holidays
- Travel money is provided in association with Travelex Currency Services Ltd
- This service is only available to residents of the UK (including Channel Islands)
The information contained herein is based on data obtained from sources believed to be reliable.
However, we have not verified such information, and we do not make any representations as to its accuracy or completeness.
Neither the information, nor any opinion expressed, shall be construed to be, or constitute a recommendation or an offer to buy or sell, or a solicitation
of an offer to buy or sell, any currencies/securities mentioned herein. While all care is taken with any recommended 3rd party businesses on this site, no responsibility is entered into for
any transactions conducted or advice received by the user from those companies. Any trademarks or logos used throughout this website are the property of their respective owners.
*Best Vendor Rate selected from amongst the banks and fx currency converters that we currently review.TOS | Full disclaimer | Privacy Statement