Moneycorp vs OFX: Fees, Rates & Speed Compared
Moneycorp
4.0Moneycorp provides international payments and FX services for businesses and individuals. Strong in high-value transfers and corporate FX.
OFX
4.2OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
Moneycorp and OFX are both popular choices for international money transfers, but they take different approaches. Moneycorp, founded in 1979 and headquartered in London, UK, is best known for large transfers and business payments. OFX, operating since 1998 from Sydney, Australia, focuses on large transfers and business payments. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a $1,000 USD → INR transfer, OFX delivers ₹461.22 more to the recipient.
In this comparison
Live comparison: Moneycorp vs OFX across popular corridors
The table below shows how much the recipient receives when sending through Moneycorp vs OFX on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Moneycorp | OFX | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹92,360.03 | ₹92,821.25 | OFX (+₹461.22) |
| GBP → EUR(£1,000) | — | €1,121.83 | N/A |
| USD → PHP($500) | — | ₱28,682.17 | N/A |
| USD → MXN($1,000) | — | MX$16,859.63 | N/A |
| GBP → PKR(£500) | — | ₨180,475.47 | N/A |
| USD → NGN($200) | — | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Moneycorp and OFX
Moneycorp vs OFX: Feature comparison
| Feature | Moneycorp | OFX |
|---|---|---|
| Overall rating | 4.0/5 (Good) | 4.2/5 (Good) |
| Fee structure | No fixed fee — built into exchange rate | No transfer fees |
| Exchange rate markup | 0.3% - 1.5% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | 1-3 business days | 1-3 business days |
| Supported countries | 190+ | 190+ |
| Supported currencies | 120+ | 55+ |
| Max transfer | No limit | No limit |
| Payment methods | Bank Transfer | Bank Transfer |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | FCA | ASIC, FCA, FinCEN |
| Founded | 1979 | 1998 |
Pros and cons
Moneycorp
Pros
- Excellent for large/corporate transfers
- 120+ currencies supported
- Dedicated account manager for high-value clients
Cons
- Not ideal for small transfers
- No cash pickup or mobile money
- Rates not always visible upfront
OFX
Pros
- No transfer fees on any amount
- Competitive rates for large transfers
- 24/7 customer support
- Forward contracts available
- Business solutions
Cons
- Higher minimum transfer ($100+)
- Only bank transfer payments accepted
- Rates less competitive for small amounts
When to choose Moneycorp vs OFX
Choose Moneycorp if:
- You want the real mid-market exchange rate with no hidden markup
- You need a multi-currency account to hold and convert balances
- Moneycorp's strengths (Bank Deposit) match your needs
Choose OFX if:
- You want the real mid-market exchange rate with no hidden markup
- You need a business account for commercial payments
- You value user experience — OFX is rated 4.2/5 on Trustpilot
- OFX's strengths (Bank Deposit) match your needs
Verdict: Moneycorp or OFX?
Cost winner: OFX
OFX wins on cost in 1 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹461.22 more with OFX. OFX achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Moneycorp typically delivers in 1-3 business days, while OFX takes 1-3 business days. The actual speed depends on the corridor and delivery method.
Wider coverage: Moneycorp
Moneycorp has broader coverage with 190+ countries and 120+ currencies. Moneycorp also offers Bank Deposit.
Bottom line
Overall, OFX edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, Moneycorp is the better pick if you need large transfers and business payments.
Frequently asked questions
Is Moneycorp or OFX cheaper for international transfers?
Based on our data, OFX is generally cheaper across most corridors. OFX charges No transfer fees with a 0.5% - 1.5% above mid-market exchange rate markup, while Moneycorp charges No fixed fee — built into exchange rate with a 0.3% - 1.5% above mid-market markup. For example, on a $1,000 USD → INR transfer, OFX delivers ₹461.22 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Moneycorp or OFX?
Moneycorp typically completes transfers in 1-3 business days, while OFX takes 1-3 business days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are Moneycorp and OFX safe to use?
Yes, both are regulated money transfer services. Moneycorp is regulated by FCA and has a 4.0/5 Trustpilot rating. OFX is regulated by ASIC, FCA, FinCEN with a 4.2/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Moneycorp vs OFX?
Moneycorp has a maximum transfer of no published upper limit (minimum $100), while OFX allows up to no published upper limit (minimum $100). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Should I use Moneycorp or OFX to send money internationally?
For most users, OFX offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Moneycorp is the better choice if you need large transfers and business payments. The best provider for you depends on your corridor, transfer size, and whether you need features like Bank Deposit.