Equals Money vs TorFX: Fees, Exchange Rates & Best Use Cases

If you’re comparing international money transfer services, Equals Money and TorFX are two established UK providers that often appear together in search results. Both aim to offer competitive rates compared with high-street banks, but they are designed for different customer types and transfer patterns.

Equals Money is a platform-led money transfer service used heavily by business customers and individuals making regular overseas payments. TorFX operates as a currency broker, focusing more on personalised support and larger, often one-off transfers.

This article compares Equals Money vs TorFX on fees, exchange rates, transfer limits, payment methods, processing speed, and customer experience. It is written for general information purposes to help you understand how costs work before choosing a provider.

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How international money transfer pricing works

To understand which option may be cheaper, it’s important to look beyond headline claims and understand how pricing is structured.

Exchange rates and markups

Most providers base pricing on the market exchange rate from the wholesale foreign exchange market, then apply an exchange rate markup. Even small markups can significantly affect the total cost when sending a large amount of money, particularly across multiple different currencies.

Fees and hidden charges

In addition to exchange rate markups, costs may include:

• Fixed or variable transfer fees
• Additional fees charged by intermediary banks
• Costs linked to specific payment routes

Some providers advertise “no fees”, but costs may still be built into the exchange rate. Looking at the full cost helps avoid unexpected hidden charges.

Overview: Equals Money vs TorFX

Equals Money at a glance

Equals Money provides a multi-currency money account with international bank transfer functionality. It is commonly used by:

• Businesses paying overseas suppliers
• Contractors paid in foreign currencies
• Individuals managing frequent international payments

Key features include transparent fee information, support for batch payments, and tools such as forward contracts.

TorFX at a glance

TorFX is a UK-based currency broker offering international transfers through a dedicated account. It is often used for:

• Large personal transfers
• Property purchases and relocations
• One-off, high-value international payments

TorFX focuses on broker-assisted transfers and phone-based customer service rather than app-led payments.

Fees and exchange rates compared

Equals Money fees and exchange rates

Equals Money typically:

• Displays transparent fees alongside exchange rates
• Applies a clear exchange rate markup
• Supports a wide range of currencies, including some exotic currencies

This pricing structure is often a good choice for users who value predictability and make regular transfers.

TorFX fees and exchange rates

TorFX generally:

• Does not charge a visible transfer fee
• Builds costs into the currency exchange rate offered
• May adjust rates depending on transfer size and service level

For larger transfers, TorFX can offer competitive rates where pricing is discussed directly with a broker.

Check current international transfer costs.

How quickly do Equals Money and TorFX process international payments?

Both Equals Money and TorFX typically complete international transfers within 1–2 business days once cleared funds are received. Processing speed depends on destination country, currency, cut-off times, and intermediary banks, rather than the provider alone. Less common currencies or additional checks can result in longer delivery times.

Equals Money transfer times

• Most major currency transfers complete within 1–2 business days
• Transfers to less common destinations may take longer
• Cut-off times and receiving bank processing can affect delivery

TorFX transfer times

• Many transfers complete within 1–2 business days
• Larger or less common currencies may take longer due to compliance checks

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Practical cost examples

The examples below are illustrative only. Actual pricing depends on live market conditions, date pricing, and product availability.

Sending £500 abroad

• Equals Money may be more flexible for smaller or repeat transfers
• TorFX is less focused on low-value payments

Differences at this level are often modest.

Sending £1,000 abroad

• Equals Money may suit users making regular £1,000 payments
• TorFX may be competitive if a favourable rate is offered

Compare costs for your transfer amount.

Sending £10,000 abroad

• Equals Money suits structured or recurring payments
• TorFX is commonly used for large one-off transfers

At this level, small exchange rate differences can materially affect the amount received.

Are there customer reviews comparing the fees of Equals Money and TorFX?

Customer reviews tend to compare the two providers based on use case rather than headline pricing. Equals Money reviews often highlight transparent fees and suitability for regular payments, while TorFX reviews focus on competitive rates for large transfers and the value of broker support. Perceived cost differences usually depend on transfer size.

Comparison table: Equals Money vs TorFX

Do Equals Money or TorFX charge differently for personal vs business transfers?

Yes — pricing structures can differ based on whether you are using a personal or business service.

Equals Money pricing by customer type

Business accounts may benefit from:

• Scaled pricing for higher volumes
• Batch payments and forward contracts
• Pricing designed for regular overseas payments

TorFX pricing by customer type

Pricing is typically negotiated per transfer, with rates often improving for higher-value or repeat transfers rather than being split strictly by account type.

Minimum and maximum transfer limits

Equals Money limits

• Supports smaller everyday transfers
• Larger transfers are available subject to checks
• Limits vary by currency and terms of use

TorFX limits

• Higher minimum transfer amount
• No fixed maximum transfer limit, subject to compliance checks

Payment methods supported

Equals Money payment methods

• Bank transfers from UK and international bank accounts
• Payments to overseas local bank accounts
• Batch and scheduled payments for businesses

TorFX payment methods

• UK bank transfer funding
• International wire-style transfers

Card and app-based payments are not typically supported by either provider.

Which provider suits different use cases?

Equals Money may suit you if:

• You make frequent international payments
• You are a business or contractor
• You want transparent fees and platform control

TorFX may suit you if:

• You are sending a large one-off amount
• You value broker support and market insights
• Your transfer relates to property or relocation

Compare providers before choosing.

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Destination and currency considerations

Costs and speed vary by destination and currency. Before sending money, it helps to review:

• A relevant Send Money to your chosen destination pages
• A Cheapest Way to Send Money to your chosen destination guides

See costs for sending money to your chosen destination.

FAQs About Equals Money vs TORFX

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