United Kingdom · Payments & e-money
Tor Currency Exchange Limited
Trading asTorFX · Redpin
Tor Currency Exchange Ltd is a private limited company registered in England and Wales, with its head office in Penzance, Cornwall. The FCA authorises it as an electronic money institution under the Electronic Money Regulations 2011, with firm reference number 900706. It trades as TorFX, and Redpin Holdings Limited holds 75% or more of its shares. It offers international money transfers, spot and forward currency contracts and multi-currency e-money wallets to private individuals and businesses.
Licences and registrations
Held by Tor Currency Exchange Limited (LEI 213800LLMJPC1Z7M9961). 3 entries on 3 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - E-Money InstitutionsFCA | Authorised E-Money InstitutionE-Money / Stored Value Institution | 900706 | United Kingdom | Active | 2018-03-23 | — |
|
Search the register ↗ |
| MSB Registrant SearchFinCEN | —Money Transmitter / Remittance | Not published by the register | United States | Active | 2025-01-03 | — |
|
Search the register ↗ |
| FCA Financial Services Register - Payment Institutions & RAISPsFCA | Authorised Payment InstitutionPayment Institution | 517320 | United Kingdom | Cancelled - Authorised PI | — | Ended 2017-06-16 |
|
Search the register ↗ |
Trading names on the register: TorFX (FCA-EMI, FCA-PSD, FINCEN-MSB), Redpin (FCA-EMI, FCA-PSD)
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
Swift network
Swift’s ISO 9362 BIC directory
Holds no BIC in Swift’s directory.
Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file.
Overview
Researched 29 Sep 2026 · Sources
Ownership
Group subsidiary
Redpin Holdings Limited
Firm type
FX and business payments
Trades as TorFX
- Ownership
- Redpin Holdings Limited holds 75% or more of the firm's shares, according to Companies House. Redpin's investors include Palamon Capital Partners, Corsair and Blackstone Tactical Opportunities.
- Direct parent
- Redpin Holdings Limited, United Kingdom
- Head office
- PZ360, St. Marys Terrace, TR18 4DZ Penzance, United Kingdom
- Company register
- Companies House 05193147
- Incorporated
- 29 Jul 2004
Online
- Websites & references
- torfx.com ↗
news.torfx.com ↗ news site
blog.torfx.com ↗ blog
partner.torfx.com ↗ partner portal
online.torfx.com ↗ personal customer portal
business.torfx.com ↗ business customer portal - Official social accounts
- LinkedIn ↗ · Facebook ↗
- Apps
- App Store ↗ · Google Play ↗
Sources · 10 pages consulted
- find-and-update.company-information.service.gov.uk/company/05193147
- find-and-update.company-information.service.gov.uk/company/05193147/officers
- find-and-update.company-information.service.gov.uk/company/05193147/persons-with-significant-control
- torfx.com/
- torfx.com/terms-and-conditions
- torfx.com/security-of-funds
- torfx.com/about-us
- redpincompany.com/media/redpin-launches-following-140m-backing-from-blackstone
- palamon.com/news/currencies-direct-relaunches-as-redpin
- fintechfutures.com/fintech/redpin-strengthens-leadership-team-with-key-additions
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The FCA authorises the firm as an electronic money institution under the Electronic Money Regulations 2011 (firm reference number 900706). Its earlier FCA authorisation as a payment institution was cancelled in June 2017. The firm's website states that its EU services are provided by Currencies Direct Spain, E.D.E., S.L. The Bank of Spain authorises that company as an electronic money institution (registration number 6716).
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 900706 | In its own name | Active | register.fca.org.uk ↗ |
| Financial Crimes Enforcement Network (FinCEN) United States | Money services business registration (money transmitter, currency exchange) | — | In its own name | Active | — |
| Financial Conduct Authority United Kingdom | Authorised Payment Institution | 517320 | In its own name | Withdrawn or expired | — |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm states that it keeps relevant client funds in segregated client accounts, apart from its own funds, as the Electronic Money Regulations 2011 require. It states that deposits and margin calls on forward contracts are not safeguarded.
- Payment schemes and card networks
- Faster Payments Access not stated torfx.com ↗
CHAPS Access not stated torfx.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
The firm sells currency transfers through a personal account manager, online and through an app. These include spot, forward, limit and stop-loss orders, and forward contracts run for up to two years. According to its website, it sends payments to more than 120 countries in more than 40 currencies. Its main uses are overseas property purchases, emigration and business payments.
It serves UK customers under its FCA authorisation and has been registered with FinCEN as a money services business since January 2025. EU and EEA customers are served by its sister company Currencies Direct Spain, E.D.E., S.L.
- Payment volume
- GBP 10bnforeign exchange and international payments handled per year by the group
- Sells to
- Consumers · Small businesses · Enterprises
- Serves customers in 2 countries
- United Kingdom · United States
- Latest funding round
- Strategic investment (group level, Redpin Holdings Limited) · GBP 140m Nov 2023Led by Blackstone Tactical Opportunities
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Arnaud Loiseau Director (Chief Executive Officer of the Redpin group)
- Executive
- Elena Stefani Director
- Executive
- Yoav Flam Director (Chief Technology Officer of the Redpin group)
Recent events
Researched 29 Sep 2026 · Sources
-
Leadership
Nigel Fox resigned as a director of the firm on 23 March 2026, after serving on its board since April 2009.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
The firm appointed Yoav Flam, chief technology officer of the Redpin group, as a director on 27 October 2025.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
Ruchi Arora resigned as a director on 2 July 2025, after being appointed in September 2024.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
The firm appointed Elena Stefani as a director on 25 June 2025.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
Neil Cooper resigned as a director on 6 May 2025 and ceased to be a person with significant control.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
Tracy Jackson resigned as a director on 30 September 2024, after serving on the board since July 2008.
find-and-update.company-information.service.gov.uk ↗ -
Funding
The parent, Redpin Holdings Limited, announced a GBP 140 million strategic investment from Blackstone Tactical Opportunities and named Arnaud Loiseau as group CEO.
redpincompany.com ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
- Licence no. · FCA-EMI
- 900706
- Licence no. · FCA-PSD
- 517320
- BIC
- Holds no BIC in Swift’s directory
- How the LEI was matched
- Matched by Elucidate on the UK company number the register gives
- Elucidate firm ID
- 937d577a1871
- Merged register entry
- 9e010d031c43 · FINCEN-MSB
Profile
- Type
- Payments & e-money · Money service businessPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Main licence class
- E-Money / Stored Value Institution
- Activities
- Payment services
- E-money / stored value
- Licensed in
- United Kingdom · Europe & Central Asia
- First registered
- 2018-03-23
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Address on the register
- Pz360 St. Marys Terrace, Penzance, TR18 4DZ
- Country
- United Kingdom
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.
- Identified by
- Name and postal address, with its LEI
- Postal address
- Hybrid: town, postcode and country in their own elements, the rest in one address line
<FinInstnId>
<LEI>213800LLMJPC1Z7M9961</LEI>
<Nm>Tor Currency Exchange Limited</Nm>
<PstlAdr>
<PstCd>TR18 4DZ</PstCd>
<TwnNm>Penzance</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>Pz360 St. Marys Terrace</AdrLine>
</PstlAdr>
</FinInstnId>CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.
The values are as published by the register. Check them against your own records before use.
Sources & method
Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.
An institution missing from these registers is not necessarily unregulated.
Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Registers for this page
- FCA Financial Services Register - E-Money Institutions—Financial Conduct Authority (FCA) · source ↗ as at 25 September 2026
- MSB Registrant Search—Financial Crimes Enforcement Network (FinCEN) · source ↗ as at 24 September 2026
- FCA Financial Services Register - Payment Institutions & RAISPs—Financial Conduct Authority (FCA) · source ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
Assess the financial crime risk behind a licence
A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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