OFX review

OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees. Founded in 1998 and based in Sydney, Australia, OFX is a specialist currency broker. OFX is authorised and regulated by ASIC, FCA, FinCEN, which means customer money is safeguarded separately from company funds. It currently holds a Trustpilot score of 4.2 out of 5 from roughly 11,396 reviews, which we rate good.

On fees, OFX charges nothing upfront on the majority of corridors (no transfer fees), but the bigger cost is usually the exchange-rate markup of 0.5% - 1.5% above mid-market, which is built into the rate rather than shown as a line item. The minimum transfer is $100, with no fixed upper limit on most corridors. Because that markup scales with the amount you send, it is worth comparing the final receive amount rather than the fee alone.

Delivery speed is quoted at 1-3 business days, and the service reaches 190+ countries across 55+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. The mix of funding and payout options is a good guide to which corridors OFX handles best.

On the plus side: no transfer fees on any amount, competitive rates for large transfers and 24/7 customer support. That makes it a sensible choice for larger, planned transfers such as property purchases, tuition or business payments. Worth keeping in mind: higher minimum transfer ($100+) and only bank transfer payments accepted. As always, run your exact amount and currency through a live comparison before sending — the provider you pick usually affects the final amount more than any single fee.