OFX vs Skrill: 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.
Skrill
3.8Skrill is a digital payments platform owned by Paysafe, offering international money transfers alongside e-wallet services and online payments.
OFX and Skrill 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. Skrill, operating since 2001 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. Our data shows the difference can be significant — on a £500 GBP → PKR transfer, Skrill delivers ₨3402.24 more to the recipient.
In this comparison
Live comparison: OFX vs Skrill across popular corridors
The table below shows how much the recipient receives when sending through OFX vs Skrill on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | OFX | Skrill | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹92,821.25 | — | N/A |
| GBP → EUR(£1,000) | €1,121.83 | €1,131.47 | Skrill (+€9.64) |
| USD → PHP($500) | ₱28,682.17 | — | N/A |
| USD → MXN($1,000) | MX$16,859.63 | — | N/A |
| GBP → PKR(£500) | ₨180,475.47 | ₨183,877.71 | Skrill (+₨3402.24) |
| 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 Skrill
OFX vs Skrill: Feature comparison
| Feature | OFX | Skrill |
|---|---|---|
| Overall rating | 4.2/5 (Good) | 3.8/5 (Good) |
| Fee structure | No transfer fees | From 0.5% to 3.99% |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 1.5% - 3.5% above mid-market |
| Transfer speed | 1-3 business days | Instant to 3 business days |
| Supported countries | 190+ | 200+ |
| Supported currencies | 55+ | 40+ |
| Max transfer | No limit | $50,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card, Skrill Wallet |
| Delivery methods | Bank Deposit | Bank Deposit, Skrill Wallet |
| Regulators | ASIC, FCA, FinCEN | FCA |
| Founded | 1998 | 2001 |
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
Skrill
Pros
- Wide country coverage
- Multiple funding options
- E-wallet for repeat transfers
- Fast wallet-to-wallet transfers
Cons
- Exchange rate markup can be high
- Fees vary by payment method
- Customer support can be slow
When to choose OFX vs Skrill
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
Choose Skrill if:
- You want the real mid-market exchange rate with no hidden markup
- Skrill's strengths (Bank Deposit, Skrill Wallet) match your needs
Verdict: OFX or Skrill?
Cost winner: Skrill
Skrill wins on cost in 2 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €9.64 more with Skrill. Skrill achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Skrill
Skrill is generally faster, with transfers arriving in Instant to 3 business 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 Skrill covers 200+ countries with 40+ currencies.
Bottom line
Overall, Skrill 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 Skrill cheaper for international transfers?
Based on our data, Skrill is generally cheaper across most corridors. Skrill charges From 0.5% to 3.99% with a 1.5% - 3.5% above mid-market 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 GBP → EUR transfer, Skrill delivers €9.64 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, OFX or Skrill?
OFX typically completes transfers in 1-3 business days, while Skrill takes Instant to 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 OFX and Skrill 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. Skrill is regulated by FCA with a 3.8/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for OFX vs Skrill?
OFX has a maximum transfer of no published upper limit (minimum $100), while Skrill allows up to $50,000 (minimum $1). 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 Skrill?
OFX offers Bank Deposit. Skrill offers Bank Deposit, Skrill Wallet. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use OFX or Skrill to send money internationally?
For most users, Skrill 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 Skrill Wallet.