Nationwide vs OFX: Fees, Rates & Speed Compared
Nationwide
3.6Nationwide Building Society offers international transfers for its members. As a building society, it provides a trusted service but at higher cost than specialist transfer providers.
OFX
4.2OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
Nationwide and OFX are both popular choices for international money transfers, but they take different approaches. Nationwide, founded in 1846 and headquartered in Swindon, UK, is best known for international money transfers. 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 £500 GBP → PKR transfer, OFX delivers ₨5607.47 more to the recipient.
In this comparison
Live comparison: Nationwide vs OFX across popular corridors
The table below shows how much the recipient receives when sending through Nationwide vs OFX on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Nationwide | OFX | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹92,821.25 | N/A |
| GBP → EUR(£1,000) | €1,113.36 | €1,121.83 | OFX (+€8.47) |
| USD → PHP($500) | — | ₱28,682.17 | N/A |
| USD → MXN($1,000) | — | MX$16,859.63 | N/A |
| GBP → PKR(£500) | ₨174,868.00 | ₨180,475.47 | OFX (+₨5607.47) |
| USD → NGN($200) | — | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Nationwide and OFX
Nationwide vs OFX: Feature comparison
| Feature | Nationwide | OFX |
|---|---|---|
| Overall rating | 3.6/5 (Good) | 4.2/5 (Good) |
| Fee structure | £15 per international transfer | No transfer fees |
| Exchange rate markup | 2.5% - 3.5% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | 2-5 business days | 1-3 business days |
| Supported countries | 200+ | 190+ |
| Supported currencies | 30+ | 55+ |
| Max transfer | $25,000 | No limit |
| Payment methods | Bank Transfer | Bank Transfer |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | FCA, PRA | ASIC, FCA, FinCEN |
| Founded | 1846 | 1998 |
Pros and cons
Nationwide
Pros
- Trusted UK building society
- Strong customer service reputation
Cons
- £15 flat transfer fee
- Higher exchange rate markup than specialists
- Slow delivery times
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 Nationwide vs OFX
Choose Nationwide if:
- You want the real mid-market exchange rate with no hidden markup
- Nationwide's strengths (Bank Deposit) match your needs
Choose OFX if:
- You want the real mid-market exchange rate with no hidden markup
- You need to transfer large sums (OFX has no upper limit)
- You want to lock in an exchange rate with a forward contract
- You need a business account for commercial payments
Verdict: Nationwide or OFX?
Cost winner: OFX
OFX wins on cost in 2 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €8.47 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. Nationwide typically delivers in 2-5 business days, while OFX takes 1-3 business days. The actual speed depends on the corridor and delivery method.
Coverage: Comparable reach
Both providers have comparable coverage. Nationwide supports 200+ countries and 30+ currencies, while OFX covers 190+ countries with 55+ currencies.
Bottom line
Overall, OFX edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, Nationwide is the better pick if you need international money transfers.
Frequently asked questions
Is Nationwide 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 Nationwide charges £15 per international transfer with a 2.5% - 3.5% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, OFX delivers €8.47 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Nationwide or OFX?
Nationwide typically completes transfers in 2-5 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 Nationwide and OFX safe to use?
Yes, both are regulated money transfer services. Nationwide is regulated by FCA, PRA and has a 3.6/5 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 Nationwide vs OFX?
Nationwide has a maximum transfer of $25,000 (minimum $1), 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 Nationwide 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, Nationwide is the better choice if you need international money transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Bank Deposit.