--- title: "Tor Currency Exchange Limited · Authorised E-Money Institution (FCA) · United Kingdom | Elucidate" description: "Tor Currency Exchange Limited is authorised by FCA as an authorised e-money institution in the United Kingdom. Licence 900706. LEI 213800LLMJPC1Z7M9961. Register status, licences, activities and ownership." url: https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871 --- 1. [Directory](https://elucidate.co/directory) 2. [United Kingdom](https://elucidate.co/directory/country/gb) 3. Tor Currency Exchange Limited United Kingdom · Payments & e-money # Tor Currency Exchange Limited Trading as TorFX · 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. Register status Licensed in the United Kingdom Authorised E-Money Institution · FCA Prudential licence [3 licences and registrations ↓](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#licences) BIC **No BIC** LEI **[213800LLMJPC1Z7M9961](https://search.gleif.org/#/record/213800LLMJPC1Z7M9961)** [Licence no. **900706**](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#licences) ## 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 Institutions](https://elucidate.co/directory/register/fca-emi) FCA | Authorised E-Money InstitutionE-Money / Stored Value Institution | 900706 | [United Kingdom](https://elucidate.co/directory/country/gb) | Active | 2018-03-23 | — | - Payment services - E-money / stored value | [Search the register ↗](https://register.fca.org.uk/s/) | | [MSB Registrant Search](https://elucidate.co/directory/register/fincen-msb) FinCEN | —Money Transmitter / Remittance | Not published by the register | [United States](https://elucidate.co/directory/country/us) | Active | 2025-01-03 | — | - Money remittance - Currency exchange - Other money services | [Search the register ↗](https://www.fincen.gov/msb-registrant-search) | | [FCA Financial Services Register - Payment Institutions & RAISPs](https://elucidate.co/directory/register/fca-psd) FCA | Authorised Payment InstitutionPayment Institution | 517320 | [United Kingdom](https://elucidate.co/directory/country/gb) | Cancelled - Authorised PI | — | Ended 2017-06-16 | - Payment services | [Search the register ↗](https://register.fca.org.uk/s/) | 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](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#overview-sources) Customers 500,000 customers · Group · 29 Sep 2026 · [company statement ↗](https://www.torfx.com/about-us) Employees 800 headcount · Group · 29 Sep 2026 · [company statement ↗](https://www.torfx.com/about-us) 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 ↗](https://www.torfx.com/) [news.torfx.com ↗](https://news.torfx.com/) news site [blog.torfx.com ↗](https://blog.torfx.com/) blog [partner.torfx.com ↗](https://partner.torfx.com/login/) partner portal [online.torfx.com ↗](https://online.torfx.com/CustomerPortal/login.htm) personal customer portal [business.torfx.com ↗](https://business.torfx.com/businessportal/login.htm) business customer portal - **Official social accounts:** [LinkedIn ↗](https://uk.linkedin.com/company/torfx) · [Facebook ↗](https://www.facebook.com/torfx/) - **Apps:** [App Store ↗](https://itunes.apple.com/GB/app/torfx-money-transfer/id1135444387?mt=8) · [Google Play ↗](https://play.google.com/store/apps/details?id=com.bnt.torfx) Sources · 10 pages consulted 1. [find-and-update.company-information.service.gov.uk/company/05193147](https://find-and-update.company-information.service.gov.uk/company/05193147) 2. [find-and-update.company-information.service.gov.uk/company/05193147/officers](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) 3. [find-and-update.company-information.service.gov.uk/company/05193147/persons-with-significant-control](https://find-and-update.company-information.service.gov.uk/company/05193147/persons-with-significant-control) 4. [torfx.com/](https://www.torfx.com/) 5. [torfx.com/terms-and-conditions](https://www.torfx.com/terms-and-conditions) 6. [torfx.com/security-of-funds](https://www.torfx.com/security-of-funds) 7. [torfx.com/about-us](https://www.torfx.com/about-us) 8. [redpincompany.com/media/redpin-launches-following-140m-backing-from-blackstone](https://www.redpincompany.com/media/redpin-launches-following-140m-backing-from-blackstone) 9. [palamon.com/news/currencies-direct-relaunches-as-redpin](https://www.palamon.com/news/currencies-direct-relaunches-as-redpin) 10. [fintechfutures.com/fintech/redpin-strengthens-leadership-team-with-key-additions](https://www.fintechfutures.com/fintech/redpin-strengthens-leadership-team-with-key-additions) ## Authorisation Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#overview-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 ↗](https://register.fca.org.uk/s/firm?id=001b000003ZaQh5AAF) | | 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](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#overview-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. [torfx.com ↗](https://www.torfx.com/security-of-funds) - **Payment schemes and card networks:** Faster Payments Access not stated [torfx.com ↗](https://www.torfx.com/terms-and-conditions) CHAPS Access not stated [torfx.com ↗](https://www.torfx.com/terms-and-conditions) 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](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#overview-sources) - International money transfer - FX conversion - FX hedging - Multi currency accounts - E-money wallet - Payouts and mass payments 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 Group · 29 Sep 2026 · [company statement ↗](https://www.torfx.com/about-us) - **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 2023 Led by Blackstone Tactical Opportunities [redpincompany.com ↗](https://www.redpincompany.com/media/redpin-launches-following-140m-backing-from-blackstone) ## Leadership Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#overview-sources) - **Chief executive:** Arnaud Loiseau Director (Chief Executive Officer of the Redpin group) Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) - **Executive:** Elena Stefani Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) - **Executive:** Yoav Flam Director (Chief Technology Officer of the Redpin group) Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) ## Recent events Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/tor-currency-exchange-limited-937d577a1871#overview-sources) 1. Mar 2026 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 ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) 2. Oct 2025 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 ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) 3. Jul 2025 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 ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) 4. Jun 2025 Leadership The firm appointed Elena Stefani as a director on 25 June 2025. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) 5. May 2025 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 ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/persons-with-significant-control) 6. Sep 2024 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 ↗](https://find-and-update.company-information.service.gov.uk/company/05193147/officers) 7. Nov 2023 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 ↗](https://www.redpincompany.com/media/redpin-launches-following-140m-backing-from-blackstone) 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 - **LEI:** [213800LLMJPC1Z7M9961 ↗](https://search.gleif.org/#/record/213800LLMJPC1Z7M9961) - **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 business - **Regulation:** Prudential licence - **Main licence class:** E-Money / Stored Value Institution - **Activities:** - Payment services - E-money / stored value - **Licensed in:** [United Kingdom](https://elucidate.co/directory/country/gb) · 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 ```xml 213800LLMJPC1Z7M9961 Tor Currency Exchange Limited TR18 4DZ Penzance GB Pz360 St. Marys Terrace ``` 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. ## Related institutions ### Other payments & e-money institutions in the United Kingdom - [Stonex Financial LTD BIC IGLUGB2L Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 446717 (FCA-PSD) · also on FINTRAC-MSB · LEI 549300AWF3TOHRYL7754](https://elucidate.co/directory/stonex-financial-ltd-iglugb2l) - [Dex International Limited · trading as DEXREMIT No BIC Payments & e-money Crypto Money service business Prudential licence United Kingdom · Licensed by FCA · 503929 (FCA-PSD) · also on HMRC-MLR, FINTRAC-MSB · LEI 9845003995D06S994R04](https://elucidate.co/directory/dex-international-limited-ff2b0c01c725) - [Euronet Payment Services Ltd · trading as Ria Money Transfer, Ria No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 504630 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/euronet-payment-services-ltd-6f4dec33a392) - [Instinet Europe Limited BIC ISNTGB2L Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 140822 (FCA-PSD) · LEI 213800MXAKR2LA1VBM44](https://elucidate.co/directory/instinet-europe-limited-isntgb2l) - [Isx Financial UK LTD BIC ISFIGB22 Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 901034 (FCA-EMI) · LEI 2138007BDV9IRS8AYD07](https://elucidate.co/directory/isx-financial-uk-ltd-isfigb22) - [Western Union Payment Services GB Limited · trading as Manning House, WU No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 816890 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/western-union-payment-services-gb-limited-0741de977896) - [A to Z 4U Ltd · trading as SAAK REMIT, Saakpay No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 570837 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/a-to-z-4u-ltd-25c2ca0fa3b5) - [Allied Wallet Limited No BIC Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 900124 (FCA-EMI) · also on FCA-PSD · LEI 213800HO66BDXP716G24](https://elucidate.co/directory/allied-wallet-limited-8983cc2e32eb) [See all →](https://elucidate.co/directory/search?type=payments&cc=GB) [Other entries on FCA-EMI →](https://elucidate.co/directory/register/fca-emi) 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 →](https://elucidate.co/directory/methodology) Registers for this page - **FCA Financial Services Register - E-Money Institutions**—Financial Conduct Authority (FCA) · [source ↗](https://register.fca.org.uk/s/) as at 25 September 2026 - **MSB Registrant Search**—Financial Crimes Enforcement Network (FinCEN) · [source ↗](https://www.fincen.gov/msb-registrant-search) as at 24 September 2026 - **FCA Financial Services Register - Payment Institutions & RAISPs**—Financial Conduct Authority (FCA) · [source ↗](https://register.fca.org.uk/s/) 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)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions. [Book a demo](https://elucidate.co/demo-request) Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.