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The key difference between Wise and TorFX is that Wise is an online money transfer provider while TorFX is a currency broker.
This means that TorFX will have a dedicated account manager handling your transfer, negotiating the exchange rates, and helping you with the transfer. With Wise, on the other hand, you will be doing it all yourself.
This makes TorFX better for large transfers (think £10,000+ or even £100,000+) while Wise is perfect for anything else.
An overview of Wise vs TorFX
If you do not have either one, here’s a quick overview of when it’s best to use Revolut or Wise:
Wise is better for… | TorFX is better for… |
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Wise vs TorFX exchange rate and fees
Wise
Here's a table summarising Wise's live exchange rates and fees for different transfer amounts.
Currency pair | Wise exchange rate markup | Wise transfer fee | Receive amount |
|---|---|---|---|
GBP / AED | 4.9778 | £37.28 | AED 49,592.13 |
GBP / CAD | 1.8755 | £32.76 | $18,693.16 |
GBP / DOP | 85.6423 | £80.77 | $849,505.67 |
GBP / EUR | 1.1555 | £33.48 | €11,516.71 |
GBP / GBP | 1.0000 | £0.61 | £9,999.39 |
GBP / INR | 119.6860 | £50.5 | ₹1,190,815.86 |
GBP / MXN | 25.0438 | £60.42 | $248,924.85 |
GBP / NGN | 2053.0400 | £56.31 | ₦20,414,793.32 |
GBP / VES | 215.1190 | £80.77 | VES 2,133,814.84 |
GBP / ZAR | 23.5513 | £65.01 | R 233,981.93 |
TorFX
Similarly, this is what TorFX looks like for the same currencies and amounts.
Currency pair | TorFX exchange rate markup | TorFX transfer fee | Receive amount |
|---|---|---|---|
GBP / AED | 4.9625 | £0 | AED 49,624.54 |
GBP / CAD | 1.8700 | £0 | $18,699.72 |
GBP / DOP | - | - | - |
GBP / EUR | 1.1522 | £0 | €11,522.37 |
GBP / GBP | - | - | - |
GBP / INR | 119.3348 | £0 | ₹1,193,348.26 |
GBP / MXN | 24.9710 | £0 | $249,710.02 |
GBP / NGN | - | - | - |
GBP / VES | - | - | - |
GBP / ZAR | 23.4833 | £0 | R 234,833.43 |
Transfer speed
Transfer limits
Product offering
Wise supported currencies
Currency pair | Wise fee |
|---|---|
GBP / AED | £23.32 |
GBP / AFN | £49.01 |
GBP / ALL | £49.01 |
GBP / ANG | £49.01 |
GBP / AOA | £49.01 |
GBP / ARS | £79.52 |
GBP / AUD | £19.97 |
GBP / BBD | £49.01 |
GBP / BDT | £45.89 |
GBP / BGN | £26.25 |
GBP / BHD | £49.01 |
GBP / BMD | £49.01 |
GBP / BRL | £57.23 |
GBP / BTN | £49.01 |
GBP / BWP | - |
GBP / BYN | £49.01 |
GBP / CAD | £20.01 |
GBP / CHF | £20.36 |
GBP / CLP | £40.8 |
GBP / CNY | - |
GBP / COP | - |
GBP / CRC | £86.38 |
GBP / CUC | £49.01 |
GBP / CZK | £24.23 |
GBP / DKK | £20.11 |
GBP / DOP | £49.01 |
GBP / DZD | £49.01 |
GBP / EGP | £56.73 |
GBP / ERN | £49.01 |
GBP / ETB | £49.01 |
GBP / EUR | £20.32 |
GBP / GBP | £0.61 |
GBP / GHS | £85.55 |
GBP / GIP | £49.01 |
GBP / GMD | £49.01 |
GBP / GNF | £49.01 |
GBP / GTQ | - |
GBP / HKD | £22.27 |
GBP / HNL | £49.01 |
GBP / HRK | - |
GBP / HUF | £32.13 |
GBP / IDR | £30.74 |
GBP / ILS | £31.56 |
GBP / INR | £30.58 |
GBP / IQD | £49.01 |
GBP / IRR | £49.01 |
GBP / ISK | £49.01 |
GBP / JMD | £49.01 |
GBP / JOD | £49.01 |
GBP / JPY | £25.45 |
GBP / KES | £64.59 |
GBP / KGS | £49.01 |
GBP / KRW | £37.46 |
GBP / KWD | £49.01 |
GBP / KZT | £49.01 |
GBP / LBP | £49.01 |
GBP / LKR | - |
GBP / LRD | £49.01 |
GBP / LYD | £49.01 |
GBP / MAD | £119.08 |
GBP / MDL | £49.01 |
GBP / MGA | £49.01 |
GBP / MKD | £49.01 |
GBP / MMK | £49.01 |
GBP / MUR | £49.01 |
GBP / MWK | £49.01 |
GBP / MXN | £36.52 |
GBP / MYR | £25.08 |
GBP / MZN | £67.82 |
GBP / NAD | £52.83 |
GBP / NGN | £34.43 |
GBP / NOK | £20.23 |
GBP / NPR | - |
GBP / NZD | £20.59 |
GBP / OMR | £49.01 |
GBP / PEN | - |
GBP / PHP | £37.01 |
GBP / PKR | £36.2 |
GBP / PLN | £24.13 |
GBP / PYG | £49.01 |
GBP / QAR | £49.01 |
GBP / RON | £23.69 |
GBP / RSD | £49.01 |
GBP / RUB | - |
GBP / SAR | £49.01 |
GBP / SCR | £49.01 |
GBP / SDG | £49.01 |
GBP / SEK | £21.43 |
GBP / SGD | £21.36 |
GBP / SLL | £49.01 |
GBP / SYP | £49.01 |
GBP / SZL | £49.01 |
GBP / THB | £36.43 |
GBP / TND | £49.01 |
GBP / TRY | £25.09 |
GBP / TTD | £49.01 |
GBP / TWD | £49.01 |
GBP / TZS | - |
GBP / UAH | - |
GBP / UGX | £39.38 |
GBP / USD | £22.6 |
GBP / UYU | £79.73 |
GBP / VES | £49.01 |
GBP / VND | £35.98 |
GBP / XAF | £49.01 |
GBP / XCD | £49.01 |
GBP / XOF | - |
GBP / YER | £49.01 |
GBP / ZAR | £41.52 |
GBP / ZMW | - |
TorFX supported currencies
Currency pair | TorFX fee |
|---|---|
GBP / AED | £0 |
GBP / AFN | - |
GBP / ALL | - |
GBP / ANG | - |
GBP / AOA | - |
GBP / ARS | - |
GBP / AUD | £0 |
GBP / BBD | £0 |
GBP / BDT | - |
GBP / BGN | £0 |
GBP / BHD | - |
GBP / BMD | - |
GBP / BRL | - |
GBP / BTN | - |
GBP / BWP | £0 |
GBP / BYN | - |
GBP / CAD | £0 |
GBP / CHF | £0 |
GBP / CLP | - |
GBP / CNY | £0 |
GBP / COP | - |
GBP / CRC | - |
GBP / CUC | - |
GBP / CZK | £0 |
GBP / DKK | £0 |
GBP / DOP | - |
GBP / DZD | - |
GBP / EGP | - |
GBP / ERN | - |
GBP / ETB | - |
GBP / EUR | £0 |
GBP / GBP | - |
GBP / GHS | - |
GBP / GIP | - |
GBP / GMD | - |
GBP / GNF | - |
GBP / GTQ | - |
GBP / HKD | £0 |
GBP / HNL | - |
GBP / HRK | £0 |
GBP / HUF | £0 |
GBP / IDR | - |
GBP / ILS | £0 |
GBP / INR | £0 |
GBP / IQD | - |
GBP / IRR | - |
GBP / ISK | - |
GBP / JMD | - |
GBP / JOD | - |
GBP / JPY | £0 |
GBP / KES | £0 |
GBP / KGS | - |
GBP / KRW | - |
GBP / KWD | - |
GBP / KZT | - |
GBP / LBP | - |
GBP / LKR | £0 |
GBP / LRD | - |
GBP / LYD | - |
GBP / MAD | £0 |
GBP / MDL | - |
GBP / MGA | - |
GBP / MKD | - |
GBP / MMK | - |
GBP / MUR | £0 |
GBP / MWK | - |
GBP / MXN | £0 |
GBP / MYR | - |
GBP / MZN | - |
GBP / NAD | - |
GBP / NGN | - |
GBP / NOK | £0 |
GBP / NPR | - |
GBP / NZD | £0 |
GBP / OMR | - |
GBP / PEN | - |
GBP / PHP | £0 |
GBP / PKR | - |
GBP / PLN | £0 |
GBP / PYG | - |
GBP / QAR | - |
GBP / RON | £0 |
GBP / RSD | - |
GBP / RUB | - |
GBP / SAR | - |
GBP / SCR | - |
GBP / SDG | - |
GBP / SEK | £0 |
GBP / SGD | £0 |
GBP / SLL | - |
GBP / SYP | - |
GBP / SZL | - |
GBP / THB | £0 |
GBP / TND | - |
GBP / TRY | £0 |
GBP / TTD | - |
GBP / TWD | - |
GBP / TZS | - |
GBP / UAH | - |
GBP / UGX | £0 |
GBP / USD | £0 |
GBP / UYU | - |
GBP / VES | - |
GBP / VND | - |
GBP / XAF | - |
GBP / XCD | £0 |
GBP / XOF | - |
GBP / YER | - |
GBP / ZAR | £0 |
GBP / ZMW | - |
Additional features comparison
Business accounts
Wise and TorFX both offer business money transfers. Here's a quick comparison of key business features of TorFX vs Wise.
TorFX has a slight edge for larger business here because of their experience in payrolls and business finances as well as phone support.
Wise is generally better for sole traders, freelancer, or small companies, since your goal is most likely to save on fees, than have dedicated accounts managers and support.
For more information on their business accounts and offering, check out the business reviews below.
Customer service and experience
TorFX has dedicated account managers, so it's a clear winner here. This means that if you had any questions or concerns, you can contact them at any time and get it resolved. Which is not the same with Wise...
This is largely because you can't directly contact someone at Wise and get your questions answered right away. Instead, you either need to use their help articles, contact them over the chat or email, and then wait days to get it resolved.
In fact.. I am still waiting for them to change my email on the account, and it's been months now.
Here's a quick TorFX vs Wise overview of the customer support options.
Ease of use
When it comes to usability, Wise is miles ahead.
This is simply because you just need to sign up, verify and send, be it through the website or the app.
The entire setup process takes less than 5 minutes and you are good to go, it's even quicker with their app.
With TorFX you will need for them to verify your account, contact you to discuss your needs, and then get started. Although, you can use their app almost right away, but it's not as good as Wises.
If you want to know more, check out these videos for Wise and TorFX where we go in a bit more detail.
Wise video overview
TorFX video overview
Safety and regulations
Customer feedback
Overall, TorFX has better reviews from the users. This is largely because they have less customers but with more specific needs that they can solve much better than Wise.
Wise on the other hand, had their overall rating tailing off, especially when it comes to customer service (where TorFX shines).
Here's a quick comparison of their online reviews.
Here are a few reviews from our users.
Wise user feedback
Comments
Anonymous
Retiro de dinero en transferencia
Uwe
great rates and service - unfortunately for some countries not yet available
Martin Premprakash Anantharaman
On the first transfer to a hospital in NY they were already screaming that this was a sure scam and the same on my next transfer to a fried in Nigeria. They then summarily closed my account TERMINATING THE RUNNING TRANSFER TO NIGERIA, claiming that, hold on, I was being scammed🤦♂️ Sure, I could have appealed but immediately found that I would have had to provide so much intrusive detail that I desisted.
Martin Premprakash Anantharaman
Setting up is a bit unwieldy if you want to make a one-off transfer, as you have to create an account with complete identification - but it works and the process as well as charges are great.
Anonymous
My brother wants to send me money from India to Nigeria but he's finding it difficult how can he do it
Mohammed
WARNING : Wise was Great until main office decided to ruin WISE By letting the TW India office control handling Random verifications and do what ever they want by insane replies and no replies etc.
If you want to waste your time and enjoy a journey into Black Hole of Insane then go ahead and try WISE !
Anonymous
Can't receive money from php to idr so far
sudheir
They don't allow transfer to Brokerage firms from India
Anonymous
Good app to transfer money
Anonymous
I didn't find Cuba on your list.
TorFx user feedback
Comments
Arun
Misleading information
Anonymous
Can't transfer from India
Alternative to Wise & TorFX
