TorFX vs Xoom Comparison

TorFX, established in 2004, has carved a niche for itself with its exceptional customer service, fee-free transactions, and personalized account management, making it a preferred choice for large-scale transfers and business needs.

On the other hand, Xoom, a PayPal service since 2015, specializes in fast, online-only small transfers, providing a convenient solution for individuals needing to send money across 160+ countries quickly. With its user-friendly mobile app and a wide array of delivery options, Xoom caters to a tech-savvy audience looking for speed and convenience.

This article delves into a comparative analysis of TorFX and Xoom, highlighting their strengths, services, and suitability for different transfer needs.

Customers

Company NameTorFXXoom
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TorFX ReviewXoom Review
Customer Rating4.9/5 on TrustPilot4.0/5 on TrustPilot
# Rating Customers6,800+ reviews22,000+ reviews
Top 3 Pros
  • Dedicated account management
  • Fee-free transactions
  • High Trustpilot rating
  • Fast transfers
  • Mobile app available
  • Transfers to 160+ countries
Top 3 Cons
  • Geared towards larger transfers
  • Mobile app can be laggy
  • Limited to bank-to-bank transfers only
  • Higher fees on some routes
  • No dedicated dealer
  • Exchange rate markups

Availability

Company NameTorFXXoom
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Office LocationsUK, AustraliaUSA
# Currencies40+79

Security

Company NameTorFXXoom
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Regulated byFCA, ASICFinCEN, FCA, FINTRAC
HTTPS SecuredYesYes
Segregated Customer AccountsYesNo
2FANoNo

Limits and Fees

Company NameTorFXXoom
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Min transferΒ£100$10/Β£8/€9
Max transferNo limit$10,000 daily
Fixed feesNo fees$4.99 to $10.99
See rates before you log in?YesYes

Customer Support

Company NameTorFXXoom
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Dedicated DealerYesNo
EmailYesYes
PhoneYesYes
Live ChatNoNo
24/7NoYes

Ways to Transfer

Company NameTorFXXoom
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesNo
Cash PickupNoYes
Card Top-UpNoYes

Additional Functions

Company NameTorFXXoom
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HedgingYesNo
Mass paymentsYesNo
Cash chequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

On MoneyTransferComparison, TorFX has received a higher editorial score. The advantages of TorFX over Xoom are these:

  • Dedicated account management, providing personalized service and expert insights for each customer.
  • Fee-free transactions for transfers, making it more cost-effective for larger amounts.
  • Higher Trustpilot rating, indicating a higher level of customer satisfaction and reliability.

TorFX is better for larger international transfers, business transactions, and customers looking for personalized financial advice.

Xoom is better for smaller, quick transfers, sending money to a wide range of countries, and users who prefer a fully online service with a mobile app.