TorFX Money Transfer Exchange Rates Versus Banks
UK pound and euro exchange rates for TorFX versus high street bank rates, banks typically apply an exchange rate margin of somewhere between 2 and 6 percent on transactions. This means that if you were to make a bank transfer overseas to or from euros using a standard bank service, then you could potentially lose thousands of pounds due to the poor FX margin rate offered by banks.
TorFX Dedicated Account Managers
When you open a free account with TorFX, you will be allocated a Dedicated Account Manager who can discuss your individual requirements. Dedicated Account Managers take the time to understand your needs, monitor the markets on your behalf and offer guidance to ensure a fast, seamless transfer.
TorFX UK Pound and Euro Exchange Rate Comparison
TorFX aim to secure exchange rates which are as close to the interbank rate as possible. As exchange rates are highly volatile and fluctuate throughout the day, the exact exchange will be confirmed to you the moment the transfer is agreed. UK pound and euro exchange rate examples below:
|Company Name||FX Rate||GBP and EUR||FREE iQuote|
|Typical Bank Rates||*1.9 to 6.2%||€1.057 to €1.105 info||Enquire|
|Typical Bank Rates||*1.9 to 6.2%||£0.832 to £0.871 info||Enquire|
*Note: A lower FX Rate will give a better exchange rate when transferring money to/from euro. TorFX can save you up to 5% of the transaction value as their FX margin rates are very low: 0.7%.
TorFX Best Rate Guarantee
As one of the largest FX providers in the market, TorFX always strive to provide competitive pricing and that’s why they will happily beat any price* that is better than their own quotation. To take them up on this offer you need to;
1: Register a free account with TorFX You need a trading account in order to receive a valid dealing quote.
2: Provide evidence of the better quote, which must be from a provider with whom you have an open account. This must be a written quote or screen-shot showing the trading rate on your account, and clearly showing the exact time of the quote (as market prices move constantly).
The TorFX best rate guarantee only applies before you agree a transaction with TorFX as they cannot amend or cancel a transaction.
*Price means the margin quoted by us, or the other provider. Margin is the difference between the interbank rate and the rate quoted. As markets move continuously our improved rate will be based on the margin the other provider quoted, and not the absolute exchange rate. TorFX cannot beat the other provider’s quote if it is better than the interbank rate.
TorFX Client Security
TorFX is authorised by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services – TorFX is licensed as a money transmitter by HM Revenue and Customs. Their MLR number is 12191606 and are a member of the UK Money Transmitter’s Association.
To register with Torfx, there’s no obligation to trade, sign up free today: click here to register