This Vorto Review is designed to help you learn the features of this money transfer service to determine whether it is suitable for your unique needs.
Vorto Trading is not a bank but instead is a specialist broker and high-value foreign exchange trading company in the UK. Their services reflect their immersion in the world of high-powered finance.
If you represent a business or corporation seeking a safe, convenient, and competitive money trading company, Vorto Trading is one to examine. Considering Vorto as well as other services will ultimately provide the best fit.
- Competitive rates, no transfer fees
- High maximum transfer limit of £1 million
- Flexibility for sizeable international money transfers
- Services individually tailored for wide range of clients and needs
- Minimum transfer amount of £20,000 makes this inaccessible for ordinary transfers
- Transfers can’t be done instantaneously due to the multi-step process in place
- While Vorto does have private individual clients, services are business-oriented.
How It Works
To transfer money with Vorto, you must first open an account. Once your account has been approved and activated (a one-time occurrence), you’ll be able to transfer funds. You’ll work with a personal Account Manager and negotiate an exchange rate each time you transfer money.
With your set rate, you will provide your recipient’s details. Your funds will be sent first to your client segregated account for clearing and then will be transferred to your recipient’s account.
How Safe Is It?
Vorto Trading and its partners are authorised and regulated by the Financial Conduct Authority (FCA) and Her Majesty’s Revenue and Customs (HMRC). For added security, Vorto also holds your funds in individual client segregated accounts held with Barclay Bank.
Vorto stands behind its security and safety. If something were to go wrong during an international money transfer, just contact Vorto, and a team will promptly handle it.
How Much Does It Cost?
Vorto does not charge transfer fees, nor do they charge commission. Further, opening an account with Vorto is free.
What Exchange Rate Will I Get?
Vorto Trading boasts highly competitive exchange rates. Their rates, in fact, have not been beaten in ten years. Vorto professionals not only watch the market for the best rates, but they also have an independent party monitor all of the big banks and building societies to ensure that Vorto’s rates are consistently better.
How Do I Send or Receive Money from Overseas?
Sending and receiving money to overseas destinations is a multi-step process.
First, you are required to book the trade. You tell Vorto the desired currency and amount as well as the date/and time the transaction is to occur, and Vorto will confirm your rate. Next, you will send your funds to your secure client account. Finally, inform them of the recipient details, and they will initiate your transfer.
Other services transfer money internationally in different ways. Learn more about how to transfer money overseas to inform your decision.
How Do I Pay?
Vorto offers a high-tech online system for your convenience. You can conduct all of your interactions with them online, including pay for and fund your international money transfers. You do have the option of paying via telephone as well.
Can I Pay by Credit Card?
Yes. Vorto Trading does not accept cash or cheques.
What Currencies Can I Transfer?
Vorto foreign exchange is available in over 140 currencies to more than 170 countries. Some of their most popular transfer destinations include:
- Hong Kong
- South Africa
- Sri Lanka
- United Arab Emirates
- United States
What Services Do They Offer for Businesses?
Vorto Trading assists individuals in money trading and transferring. Primarily, though, they serve businesses and corporations. Vorto offers companies personal traders to monitor their unique needs. Businesses can take advantage of a credit offering up to £1 million.
Vorto has designed a flexible exchange rate and related products to meet the unique needs of businesses they serve. This allows businesses to take advantage of Vorto’s competitive exchange rates in the matter that best suits them.
Spot allows businesses to book a transfer now, thus securing the rate, and pay for it within two days. Companies can also fix their rate in a given moment and take delivery of funds on a set date up to two years in the future with Fixed Forward.
With Window Forward, businesses have a set period during which they can use a specified currency at the current rate. If a corporation is looking for a specific rate, they can take advantage of Market Orders. A personal trader will watch for the preferred rate and alert the proper channels that it’s available.
Vorto Trading is a high-value international exchange and trading company that caters to businesses dealing in large sums of money. Because Vorto is established and highly respected, they are in a position to offer competitive rates, no fees, and customised client services.
To continue your investigation of international money transfer services, you may wish to consult these guides to transferring money overseas. Consider how Vorto Trading and others match the information and your needs.