OFX vs PNB Europe: 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.
PNB Europe
3.5PNB Europe (Punjab National Bank International) offers money transfers from Europe to India and the Philippines at competitive rates.
OFX and PNB Europe 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. PNB Europe, operating since 2010 from London, UK, focuses on international money 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.
In this comparison
Live comparison: OFX vs PNB Europe across popular corridors
The table below shows how much the recipient receives when sending through OFX vs PNB Europe on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | OFX | PNB Europe | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹92,821.25 | — | N/A |
| 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 OFX and PNB Europe
OFX vs PNB Europe: Feature comparison
| Feature | OFX | PNB Europe |
|---|---|---|
| Overall rating | 4.2/5 (Good) | 3.5/5 (Good) |
| Fee structure | No transfer fees | £0-£5 per transfer |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0.3% - 1% above mid-market |
| Transfer speed | 1-3 business days | 1-2 business days |
| Supported countries | 190+ | 5+ |
| Supported currencies | 55+ | 5+ |
| Max transfer | No limit | $25,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | ASIC, FCA, FinCEN | FCA, PRA |
| Founded | 1998 | 2010 |
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
PNB Europe
Pros
- Competitive GBP-to-INR rates
- Trusted Indian banking brand
- Low fees for India transfers
Cons
- Very limited corridor coverage
- Only for transfers to India and Philippines
- Less modern app experience
When to choose OFX vs PNB Europe
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
- You need wider country coverage (190+ vs 5+ countries)
Choose PNB Europe if:
- You want the real mid-market exchange rate with no hidden markup
- PNB Europe's strengths (Bank Deposit) match your needs
Verdict: OFX or PNB Europe?
Cost: Too close to call
OFX and PNB Europe are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Speed: Similar delivery times
Both providers offer similar transfer speeds. OFX typically delivers in 1-3 business days, while PNB Europe takes 1-2 business days. The actual speed depends on the corridor and delivery method.
Wider coverage: OFX
OFX has broader coverage with 190+ countries and 55+ currencies. OFX 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, PNB Europe is the better pick if you need international money transfers.
Frequently asked questions
Is OFX or PNB Europe cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows OFX and PNB Europe are closely matched on total cost. OFX charges No transfer fees with a 0.5% - 1.5% above mid-market exchange rate markup, while PNB Europe charges £0-£5 per transfer with a 0.3% - 1% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, OFX or PNB Europe?
OFX typically completes transfers in 1-3 business days, while PNB Europe takes 1-2 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 OFX and PNB Europe 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. PNB Europe is regulated by FCA, PRA with a 3.5/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for OFX vs PNB Europe?
OFX has a maximum transfer of no published upper limit (minimum $100), while PNB Europe allows up to $25,000 (minimum $10). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Should I use OFX or PNB Europe to send money internationally?
For most users, OFX offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, PNB Europe 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.