OFX vs Paysend: Fees, Rates & Speed Compared
OFX
4.2OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
Paysend
4.3Paysend offers international transfers with flat fees and competitive exchange rates. Known for card-to-card transfers in 180+ countries.
OFX and Paysend are both popular choices for international money transfers, but they take different approaches. OFX, founded in 1998 and headquartered in Sydney, Australia, is best known for large transfers and business payments. Paysend, operating since 2017 from London, UK, focuses on transparent, low-cost transfers. 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, Paysend delivers ₨5176.12 more to the recipient.
In this comparison
Live comparison: OFX vs Paysend across popular corridors
The table below shows how much the recipient receives when sending through OFX vs Paysend on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | OFX | Paysend | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹92,821.25 | ₹96,691.21 | Paysend (+₹3869.96) |
| GBP → EUR(£1,000) | €1,121.83 | €1,138.64 | Paysend (+€16.81) |
| USD → PHP($500) | ₱28,682.17 | ₱30,854.58 | Paysend (+₱2172.41) |
| USD → MXN($1,000) | MX$16,859.63 | MX$17,386.77 | Paysend (+MX$527.14) |
| GBP → PKR(£500) | ₨180,475.47 | ₨185,651.59 | Paysend (+₨5176.12) |
| USD → NGN($200) | — | ₦268,278.95 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between OFX and Paysend
OFX vs Paysend: Feature comparison
| Feature | OFX | Paysend |
|---|---|---|
| Overall rating | 4.2/5 (Good) | 4.3/5 (Excellent) |
| Fee structure | No transfer fees | Flat $2 fee on most corridors |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0% - 2% depending on corridor |
| Transfer speed | 1-3 business days | Minutes to 2 days |
| Supported countries | 190+ | 180+ |
| Supported currencies | 55+ | 70+ |
| Max transfer | No limit | $10,000 |
| Payment methods | Bank Transfer | Debit Card, Credit Card, Bank Transfer |
| Delivery methods | Bank Deposit | Bank Deposit, Card Deposit, Mobile Wallet |
| Regulators | ASIC, FCA, FinCEN | FCA, FinCEN |
| Founded | 1998 | 2017 |
Pros and cons
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
Paysend
Pros
- Flat $2 fee on most transfers
- 0% exchange rate margin on select corridors
- Card-to-card transfers available
Cons
- Lower transfer limits than competitors
- Not all corridors have 0% markup
- Cash pickup not available
When to choose OFX vs Paysend
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
Choose Paysend if:
- You want the real mid-market exchange rate with no hidden markup
- You need a multi-currency account to hold and convert balances
- Speed is your top priority — transfers can arrive in minutes
Verdict: OFX or Paysend?
Cost winner: Paysend
Paysend wins on cost in 5 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹3869.96 more with Paysend. Paysend achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Paysend
Paysend is generally faster, with transfers arriving in Minutes to 2 days, compared to 1-3 business days for OFX.
Coverage: Comparable reach
Both providers have comparable coverage. OFX supports 190+ countries and 55+ currencies, while Paysend covers 180+ countries with 70+ currencies.
Bottom line
Overall, Paysend edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, OFX is the better pick if you need large transfers and business payments.
Frequently asked questions
Is OFX or Paysend cheaper for international transfers?
Based on our data, Paysend is generally cheaper across most corridors. Paysend charges Flat $2 fee on most corridors with a 0% - 2% depending on corridor exchange rate markup, while OFX charges No transfer fees with a 0.5% - 1.5% above mid-market markup. For example, on a $1,000 USD → INR transfer, Paysend delivers ₹3869.96 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, OFX or Paysend?
OFX typically completes transfers in 1-3 business days, while Paysend takes Minutes to 2 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 OFX and Paysend safe to use?
Yes, both are regulated money transfer services. OFX is regulated by ASIC, FCA, FinCEN and has a 4.2/5 Trustpilot rating. Paysend is regulated by FCA, FinCEN with a 4.3/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for OFX vs Paysend?
OFX has a maximum transfer of no published upper limit (minimum $100), while Paysend allows up to $10,000 (minimum $10). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with OFX or Paysend?
OFX offers Bank Deposit. Paysend offers Bank Deposit, Card Deposit, Mobile Wallet. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use OFX or Paysend to send money internationally?
For most users, Paysend offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, OFX 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 Mobile Wallet.