An award-winning specialist firm that helps businesses effectively manage their foreign currency exposure and profitability

FX markets are in constant flux, which can be a major headache when having to make regular transfers in multiple currencies.

In addition to general market volatility, many small and medium-sized businesses are being underserved and overcharged by their traditional foreign exchange providers. Here are some examples where businesses may be missing out:

Underpaid invoices

If you’re on the receiving end of a payment and the market moves against you, it can lead to underpaid invoices. You then have two options:

·         Chase your customers for the outstanding amount. They have to pay more and are again exposed to transfer fees and poor exchange rates, and you could potentially sour your business relationship with them.

·         Rather than risking upsetting your customers, you take the loss on the chin and let it slide. This will affect your projected sales figures for the year and will leave your company at a loss.

Unfavourable exchange rates

Many businesses are stung by this as they aren’t aware that banks and brokers offer different exchange rates. Banks tend to offer far less competitive rates than specialist currency providers, and even a seemingly small discrepancy in the rate you secure can make a big difference.

Transfer fees

Banks can charge up to £40 for every single currency transfer. If you’re making several transfers a month then this can quickly add up and eat into your profit. We can help provide your clients with the ability to manage their foreign exchange costs and risk with our partners, Moneycorp. Through this service, your clients can receive co-branded marketing material, a designated relationship manager, discretionary commission and free value add services for your clients.

What makes TorFX different?

TorFX gives your business the power to effectively manage your annual foreign currency exposure, streamline your payment processes, and cut back on admin, allowing you to focus on more important things.

With TorFX, you won’t pay transfer fees and you’ll enjoy highly competitive exchange rates, helping you get the most from your money.

You’ll also be assigned a dedicated Account Manager who will learn your business’s requirements and work with you to devise the best hedging strategy to counter against volatile market movements, enabling your business to confidently forecast your outlays and maximise the returns on your international transfers.

TorFX is a tool to use alongside your bank for the international payments you make or receive through your account.

·         Free to register and get an FX health check to show what improvements could be made.

·         No transfer fees and highly competitive exchange rates, supported by Rate Improver Guarantee.

·         Specialist solutions – stop loss orders, limit orders, forward contracts, rate alerts.

·         24/7 transfers available via website and app.

·         Personal support, market updates and insights from your dedicated Account Manager.