USD to GBP large transfer with TorFX

BlueSlate

Hi,
I have seen mentions on this sie about TorFX, has anyone used them to transfer a large amount from the USA to UK? Using my bank would be easier but dreadful exchange rates. Curious what experience people had?
Thank you.

Futuristic

Why particularly TorFX? They are probably fine and have been around awhile. 

Is the rate better than Wise which is the usual go to these days?

Or even Revolut? With Revolut you can upgrade to their premium tier which has unlimited fx conversion. If it's a large amount the premium is £6.99/mo with 12 month contract but even then might be worth it. 

BlueSlate

Many thanks for this. I am looking into Wise and Revolut now.

I had heard that TorFX was better with larger transfers (which I have initially) and having the ability for it to go straight to your UK bank so you can withdraw easier. 
I am new to this and just looking for an easy way, going forward in having a family member in the USA pay me (in the UK) without them needing to open a Wise or Revolut account.
Thank you for the help. 

[Deleted User]

Futuristic said:

Why particularly TorFX? They are probably fine and have been around awhile. 

Is the rate better than Wise which is the usual go to these days?

Or even Revolut? With Revolut you can upgrade to their premium tier which has unlimited fx conversion. If it's a large amount the premium is £6.99/mo with 12 month contract but even then might be worth it. 

I would not recommend using Revolut for a large transaction - they have a tendency to lock accounts with large transactions and can be hard to contact afterwards - plus hold no UK banking licence. 

Futuristic

[Deleted User] said:

Futuristic said:

Why particularly TorFX? They are probably fine and have been around awhile. 

Is the rate better than Wise which is the usual go to these days?

Or even Revolut? With Revolut you can upgrade to their premium tier which has unlimited fx conversion. If it's a large amount the premium is £6.99/mo with 12 month contract but even then might be worth it. 

I would not recommend using Revolut for a large transaction - they have a tendency to lock accounts with large transactions and can be hard to contact afterwards - plus hold no UK banking licence. 

I have used it and had no issues, in fact I was even able to downgrade back to free after within 14 day period so cost me nothing and saved me hundreds. 

wmb194

BlueSlate said:

I am new to this and just looking for an easy way, going forward in having a family member in the USA pay me (in the UK) without them needing to open a Wise or Revolut account.

They don't need a Wise (or Revolut) account, you just give them the details. With Wise you can get a USD account that has a US ACH account number which they'll find it easy (and probably free) to transfer money to. You can then convert and transfer to your Wise GBP account. I've been using it regularly with a US brokerage account and it works very well.