The TorFX Regular Overseas Payments service is a simple and highly cost-effective way for businesses to send money abroad on a regular basis.
If your business pays or receives overseas wages, royalties or service fees, or is engaged in any other type of recurrent transfer, then our Regular Overseas Payments service can save you time and money.
As with our one-off payment transfers, TorFX can offer you a commercial rate on your regular payments completely free of charge. This stress-free service is available for businesses which need to make regular transfers of between £500 and £10,000 per month, over a minimum period of 6 months. You can even take out more than one plan at a time, which means it’s perfect for businesses which need to make multiple regular transfers.
Our regular payment service is quick and easy to set up and once it’s done we ensure that payments are made automatically on the day you select, so you won't need to do a thing.
Did you know that as a company you may be incurring costly and avoidable monthly charges by using your bank to manage your regular payments? As our corporate case study demonstrates, businesses can see their profit eroded if they’re charged for their international currency payments.
One of our Corporate clients employs 50 overseas workers whose wages are paid monthly. They all receive varying amounts.
Previously, our client transferred these wages through their own UK bank. By doing this they incurred an average charge of £20 per transfer. With 50 members of staff this was a total charge of £1000 a month. This means that over the course of the year transferring wages through the bank cost our client £12,000.
On top of these £12,000 bank charges, our client’s transfers were being carried out at an unsatisfactory rate of exchange, which resulted in them incurring even greater costs.
After joining TorFX our client began saving money instantly.
We process around 40 to 50 international payments a month through TorFX and couldn't be happier with the level of service. Switching from international bank transfers to TorFX has saved our company a substantial amount of money in monthly bank fees as well as reducing manual processing time at our end, allowing us to focus on what we do best: providing high quality translations. Our account manager is an absolute delight to work with. She knows our processes and requirements inside out and provides valuable currency insights that help us get the best exchange rate deals for our freelance translators.
Jones Enterprises Limited
|Typical Cost||Transfer Fee||Total Charges Per Year|
|Bank||£30* x 50 Transfers||£20* x 50 Transfers||£30,000*|
|SAVING OVER 12 MONTHS = £30,000|
|*Cost incurred by poor exchange rate from a Bank.
These figures are purely illustrative.
TorFX can also offer your business:
For more information or a quote call our Corporate Team today on 0800 612 6028
If you’d like more information about how TorFX can help your business manage its regular overseas currency transfers, please download our guide.Download Brochure