OFX Review [2026]: International transfer fees, exchange rates and speed
OFX is a popular and well respected service for international transfers that are deposited to bank accounts around the world in 50+ currencies.
Individuals and businesses can make payments 24/7, with no upfront transfer fee. But is OFX really worth it?
This guide walks through what you can do with OFX, including fees, whether it’s safe to use, how fast it is, how to get set up, and more.
⭐ OFX is good for
- Excellent customer service
- Fast transfers through well designed mobile app
- Global currency accounts for business customers
- Batch payments for international business
Overall: OFX offers safe and reliable money transfers to a good selection of supported countries, for individuals and businesses. There’s a minimum transfer amount of 150 USD and no upfront transfer fee from OFX. Instead, there’s a small markup added to the exchange rate used to convert your currency. OFX stands out because of its great customer service record which includes a 24/7 phone line you can call to request a payment.
OFX: Key points 📌
| 💡 Quick summary | OFX international wire transfer |
|---|---|
| 🌍 Currencies | Send transfers in 50+ currencies to 170+ countries |
| 💰 Transfer fees | No upfront transfer fees are applied, though third-party or intermediary bank costs may occasionally creep in during transit |
| 🚀 Transfer speed | Most major currency routes are processed within 1 to 2 business days |
| 🎯 Transfer limits | A minimum transfer amount of 150 USD applies, with no maximum transfer caps |
| 💱 Exchange rates | Exchange rates might include a small markup |
| 🔐 Safety | High-level protection through built-in security features, fraud prevention systems, and advanced cyber security frameworks. |
| 📱Account management | Supports online, mobile app, and 24/7 personal phone service |
| OFX pros | OFX cons |
|---|---|
| ✅ Safe and established provider ✅ Good range of supported countries and currencies ✅ Fast transfers you can send 24/7 ✅ Currency risk management solutions | ❌ Exchange rates include a markup ❌ No options for cash pay in or pay out ❌ 150 USD minimum transfer |
How much can I save with OFX? 💸
Specialist international transfer services can often offer lower fees and a better exchange rate compared to banks. That’s partly because they don’t have as many overheads, and also because they’ve invested in innovative ways to process payments quickly and for less. But how much can you save?
Here’s a quick overview of how OFX compares against a major bank, Chase, and OFX alternative Wise. We’ve included payments of different values to illustrate your options.
| Transfer details | With OFX your recipient gets | With Chase your recipient gets | With Wise your recipient gets | Result |
|---|---|---|---|---|
| Sending 1,000 USD to EUR | 841.20 EUR | 833.01 EUR | 862.00 EUR | Your recipient could get 8.19 EUR extra with OFX or an extra 28.99 with Wise |
| Sending 5,000 USD to EUR | 4,227 EUR | 4,195.92 EUR | 4,304.24 | Your recipient could get 31.08 EUR extra with OFX or an extra 108.32 with Wise |
| Sending 10,000 USD to EUR | 8,472 EUR | 8,391.90 EUR | 8,601.74 | Your recipient could get 80.10 EUR extra with OFX or an extra 209.84 with Wise |
*Information correct at time of writing – 17th June 2026
What is OFX? 🔍
OFX is an international money transfer provider that was founded in Australia, and which now operates globally, allowing you to transfer money in more than 50 currencies.
It’s been publicly listed in Australia for 10 years, and is fully regulated and licensed in the countries it operates in globally.
OFX makes it fast and easy for individuals, online sellers, and other businesses to exchange currencies, send money overseas and make international payments.
Key stats: OFX
Established in: 2001
Customer numbers: 1 million
Send money to: 170+ countries, in 50+ currencies
Volume of transfers**:** 293 billion USD worldwide
OFX international money transfers
💡 Great for: Individuals and businesses sending higher value payments overseas, particularly for people who prefer to transact by phone.
OFX offers international transfers for individuals and businesses, in 50+ currencies and to 170+ countries. You can arrange your transfer online, in an app or by phone, and your money is deposited into the recipient’s bank account directly.
There’s a minimum transfer value of 150 USD], with no maximum amount or transfer fee, making it an attractive service for high-value amounts. Instead you pay a small markup on the exchange rate used.
Global business account
💡 Great for: Businesses trading internationally and looking for ways to pay and get paid in foreign currencies more conveniently
OFX business customers can set up a Global Business Account which lets you receive, hold and pay like a local worldwide in 30+ currencies, including USD, EUR, CAD and GBP. You can use your account to pay overseas vendors in their local currency and collect payments from international customers without needing to convert them back to USD instantly.
Currency risk management services
💡 Great for: Businesses which need to hedge against currency risk, for example using forward contracts and limit orders
OFX business customers can also access more specialist currency risk management services which are designed to help businesses manage the risk of currency fluctuations. You can get help assessing the currency risk exposure of your particular business, and advice from the OFX team about which services can help you cut your overall costs and exposure.
Is OFX available in the US?
Yes. OFX is available in the US for individuals and businesses. You can send payments in 50+ currencies, to 170+ countries with OFX conveniently, and talk to a team member by phone 24/7.
⚙️ How does OFX work?
To send an OFX international transfer you’ll first have to set up an OFX account. You can start setting up your account online or in the OFX app, but you’ll usually have to talk to a member of the OFX team to get your account up and running fully. As there’s a 24 hour OFX phone service this shouldn’t take much time to arrange, though.
Once your account is set up you can make transfers including the following:
📲 Set up your payment in the OFX app – conveniently generate a rate quote and pay for your transfer with direct debit or wire
🖥️ Send a payment online – use the OFX desktop site or app to log into your personal account and arrange your transfer
📞 Make a payment by phone – call a dedicated currency specialist to talk through your options and process your payment
🔁 Send recurring payments – set up transfers to be made regularly, to cover rent or a mortgage for example
When you’ve sent your money to OFX, the payment will be processed and deposited to your recipient’s bank account directly. Transfers are usually routed through OFX’s network of bank accounts, although sometimes other systems like SWIFT are used, depending on the destination. Where payments are routed through the SWIFT network, intermediary banks may be involved, which may mean additional fees to pay.
Is OFX safe to send money? 🔐
Yes. OFX is a safe provider that uses a mix of smart tech and active monitoring to keep your money and identity secure.
Instead of just relying on a password, the platform has several built-in features to protect your transfers:
- Account and identity protection: To log in, customers will need to use two-step verification via an SMS text code or an authenticator app. This extra step means an outsider cannot get into your account even if they manage to guess your password. Sessions also log out automatically if you leave them open for too long. 🛡️
- Smart fraud prevention: Specialized anti-fraud teams and automated software monitor registrations, logins, and live transactions around the clock. If anything looks out of the ordinary, the system flags it right away to block phishing scams suspicious activity before your funds leave your account. 🔍
- Advanced cyber security: The website uses various tools to block malicious traffic automatically. OFX routinely tests and updates its system security to ensure your personal information remains safe. 🔒
Learn more: Is OFX safe?
Is OFX legit?
It’s natural to worry about whether a payment service is safe and legit – but you can rest assured, OFX is a trusted and popular service in the US, with 1 million+ customers globally.
OFX alternatives
OFX isn’t necessarily the right service for everyone. Here are a few great OFX alternatives you may also want to consider for your international transfer:
- OFX vs Wise – Wise uses the mid-market exchange rate and splits out the costs of your payment overseas, which can make it easier to check and compare the costs.
- OFX vs WorldRemit – WorldRemit could be a good choice if you want to send a smaller value payment or if you want your money to be collected in cash, deposited to a mobile money account, or used as airtime topup.
- OFX vs Xe money transfer – Xe Money Transfer can help you send payments more or less anywhere in the world, with services which are fairly similar to those available from OFX.
- OFX vs TorFX – TorFX is UK based and offers international transfers and currency risk management services. It may be worth comparing the costs of your service between OFX and TorFX to see which is best.
- OFX vs Remitly – Remitly has a good selection of digital payment options, and you can usually pick a cheaper transfer which may be a little slower, or a slightly more expensive option that’ll get delivered faster.
Pricing: How much does it cost to send money with OFX? 💳
OFX does not charge an upfront transfer fee.
There’s a small markup on the exchange rate – which is a fee – but this can often be smaller than the markup used by banks, as we saw in our comparison earlier.
💱 OFX exchange rate
As we’ve mentioned, OFX uses a small exchange rate markup when it converts your dollars to the currency you need to deposit in the recipient’s bank. This is common among many providers and banks.
You’ll be able to see the OFX markup when you compare the rate OFX offers you against the mid-market exchange rate you can find using a currency conversion tool.
In many cases, this markup will be smaller than that used by major banks, which means OFX can still present very good value for money. You can compare OFX rates here: OFX exchange rates
| Providers | 💱 Exchange rates for International transfers |
| OFX | Exchange rate is likely to include a markup |
| Wise | Mid market exchange rate with no markup |
| Remitly | Exchange rate is likely to include a markup |
| Xe money transfer | Exchange rate is likely to include a markup |
✍️ Writer’s tip: Because OFX adds a markup to the interbank exchange rate rather than charging an upfront fee, the timing of your transfer can impact your total cost. Before you book a payment, check an independent currency tool or a provider like Wise to see exactly where the mid-market rate sits. Tracking these movements or setting up an automated rate alert directly in the OFX app can help you spot a favorable market window and lock in a better rate for your dollars.
How long does OFX transfer take? ⏳
Once you have sent OFX your money, they are able to transfer money overseas securely and quickly.
- For most major currencies it takes 1-2 days to send money overseas
- For less commonly traded currencies this process can take up to 3 days
OFX operates 24 hours a day, 7 days a week so you can submit your money transfer order any time of the day. It’s important to remember OFX will not start the process until the money is in their account.
Things can also take a little longer if you’re sending money to a less commonly traded currency, or on a bank holiday or weekend. Make sure you plan for any extra time before making your transfer.
| Providers | ⌛ International wire transfer times |
| OFX | 1 – 3 days |
| Wise | 60%+ of transfers are instant, 80%+ arrive within an hour* |
| Remitly | Variable delivery times. An estimate will be available before you confirm |
| Xe money transfer | 1 – 4 working days |
*Details correct at time of research – 17th June 2026 (*The speed of transaction claims depends on individual circumstances and may not be available for all transactions)
📝 How to use OFX?
If you want to create an account and send money overseas, OFX will ask you for some details, including your full name, date of birth, residential address, occupation, email, and a contact number.
OFX will also need to verify your identity, in most cases they can do that electronically, but they’ll contact you if you need to provide any documents.
You can use OFX once you’ve created your account, to send payments online in-app and by phone. OFX is known for its great customer service so if you’re ever stuck you can simply give a team member a call for help.
We’ll walk through more detail on how to send money, how to create an OFX account and the verification verification process, next.
💵 How do I send money with OFX?
You’ll need to create an account and sign up with OFX before you can send money. Once you’ve signed up, here’s what you need to do.
- When you want to send money, you can do that online, through the app or by calling OFX.
- You’ll need to provide details of who you want to send the money to, including their name, address and international banking details.
OFX will keep you updated about the status of your transfer through email and SMS notifications. If you ever need to check your transfer history, you can do that through OFX’s website.
The details you’ll need when you’re sending money
When you want to send money, OFX will need a few details, including:
- The amount of money you’re sending
- The countries you’re sending money from and to
- The currencies that you’re sending money between
- The name and address of the person you want to send money
- The bank account details of the person you want to send money
The bank account details you’ll need vary between countries, but typically you’ll need to provide the sort code or routing number and the account number. In some cases, you’ll need to provide a SWIFT code or IBAN (International Bank Account Number).
Ways to pay OFX 📥
You can pay OFX in the US using either a direct debit or a wire transfer.
Other payment methods are available in countries OFX serves overseas – so if you’re outside of the US it’s worth giving OFX a call to see if they support other methods you prefer.
Payout methods 🏦 💳
OFX payments are deposited in your recipient’s bank account, in the currency you’ve asked for.
How to track an OFX transfer
Once your payment is on the way, you can track it in the OFX app or by logging into your account on the OFX desktop site. You’ll also be able to call the OFX service team if you have any questions about your transfer.
How to create an OFX account
You can apply for an OFX account online through the website. Once you’ve done that, someone from OFX will give you a call to complete the registration process. As OFX has a 24/7 phone service, this step shouldn’t take too long.
📂 What documents you’ll need to open an account
OFX will need to verify your identity before you can use your account. To do this you’ll usually be asked to provide some documents.
A member of the OFX team will give you a call to let you know what’s needed in your case, and you can simply pass images of your paperwork over electronically.
Usually for personal customers you’ll need a government issued ID document and a proof of address. Business customers may need some business documentation as well as this.
How long does OFX verification take? ⏰
If OFX can verify your identity electronically this step won’t take very long at all. However, if they need to check your documents you may need to wait a little. The OFX team will explain the likely timeline when you talk to them.
Do I need a bank account for OFX? 🏦
You’ll need a bank account to pay OFX for your international transfer, and you’ll also need a bank account if you intend to receive an OFX transfer.
How to receive money from OFX?
If you’re receiving an OFX payment, you’ll need to make sure the sender has all your bank account information in advance. Then you can simply wait – your money will be deposited in your account once the payment has cleared.
OFX Money transfer limits
OFX has a minimum transfer limit of 150 USD in the US.
There is no maximum limit for OFX money transfers.
| Providers | 🎯 International wire transfer limits |
| OFX | Usually unlimited |
| Wise | Up to 1 million USD per transfer |
| Remitly | Up to 100,000 USD per transfer
|
| Xe money transfer | 500,000 USD per transfer |
🌍 OFX supported countries
OFX supports payments in 50+ currencies, to 170+ countries.
OFX accessibility
OFX has a handy app and a desktop site, and also offers a phone service 24/7. The desktop site is in English only, and most of the OFX offices are based in English speaking countries, too. However, you may find that other languages are supported if you need them – drop the team an email to check if you’re unsure if your preferred language is available. 🔤
📱Is OFX easy to use on your mobile?
OFX provides a mobile app so you can access many of their services through your smartphone. You can make currency transfers, view exchange rates, keep up with exchange market trends, review historic transfers and exchange rates, view currency news, set rate alerts, register for an account and track payments.
OFX will keep you updated on the state of your transfer through the mobile app and website together with SMS and email notifications.
When it comes to ease-of-use, reviewers mainly praised the app, saying it was fast and simple. The app scored well, getting 3 out of 5 on Google Play, and 4.8 out of 5 on App store.
💬 TrustPilot OFX money transfer reviews
OFX scores 4.2**/5 on TrustPilot, which aggregates live customer review data. This is from over 11,000 reviews – 81%** of customers gave OFX a 5 star rating, too, which is pretty impressive.
Positive reviews praise the speed and efficiency of using OFX, including both the app and personal phone service.
👤 “Same day service. Money moved halfway round the world. Wow! Thanks OFX. I’ll be using you again”
— Patricia. W*
👤“I have been dealing with OFX for the past fifteen years. No problems, no issues, just one straight forward transaction.No worries or hassles. The staff are so friendly and know what they are doing. Have referred OFX to family, friends, neighbours and my associates”
— James. G*
Negative reviews where things have gone wrong, may be as a result of a technical issue, or because OFX has had to freeze an account during security checking.
It’s helpful to know that OFX does respond to reviews and offers ideas on how to resolve issues where possible.
*Customers were not compensated in exchange for their statements, results may vary based on individual circumstances.
OFX customer support
| Suport channel | OFX contact information |
|---|---|
| 📞 Phone | 1 888 288 7354 Additional office numbers are available on the OFX website |
| [email protected] | |
| 💬 Chat | By logging into your OFX account |
OFX for Business 💼
OFX provides several specialist services to businesses including:
- FOREX risk management, which lets you use forward contracts and limit orders to protect your organization against volatile exchange rates.
- Payment of overseas staff and payroll into their native currencies and bank accounts.
- Receiving international payments from clients around the world.
- Sending mass payments to recipients quickly and easily with batch payments.
- Paying overseas suppliers for their products and services.
Business owners can make payments to 180+ countries and open multi-currency accounts to hold and send money in up to 30+ currencies, including USD, CAD, GBP, and EUR.
Conclusion: Is OFX a good way to transfer money?
OFX is a trusted, fast and safe provider which offers international transfers in 50+ currencies. Where OFX stands out is for its customer service which includes a 24/7 phone line. If you’d prefer to talk your payment options through with someone before you commit to a transfer, OFX may suit you.
Compare OFX with a few other specialist payment services to see which is cheapest for your specific payment.
📂 Useful Sources
- OFX: Access dedicated 24/7 support, send money to over 170 countries and find out more about making high-value personal transfers.
- Wise: Information on the Wise Multi-Currency Account and the Wise Multi-Currency Debit card.
- Xe: Set custom currency rate alerts and manage large-scale international payments.
- Remitly: Send express remittances online or find global cash pickup points for your recipient.
