OFX vs SkyRemit: 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.
SkyRemit
4.1SkyRemit is a China-based money transfer service specialising in outbound CNY transfers. It offers competitive exchange rates with a low fixed fee of ¥79 per transfer, supporting WeChat Pay and Alipay as payment methods.
OFX and SkyRemit 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. SkyRemit, operating since 2018 from China, 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.
In this comparison
Live comparison: OFX vs SkyRemit across popular corridors
The table below shows how much the recipient receives when sending through OFX vs SkyRemit on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | OFX | SkyRemit | 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 SkyRemit
OFX vs SkyRemit: Feature comparison
| Feature | OFX | SkyRemit |
|---|---|---|
| Overall rating | 4.2/5 (Good) | 4.1/5 (Good) |
| Fee structure | No transfer fees | ¥79 fixed fee + 0.38% float fee |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0.4% - 1% above mid-market |
| Transfer speed | 1-3 business days | Minutes to 2 days |
| Supported countries | 190+ | 50+ |
| Supported currencies | 55+ | 50+ |
| Max transfer | No limit | $300,000 |
| Payment methods | Bank Transfer | WeChat Pay, Alipay, Bank Transfer |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | ASIC, FCA, FinCEN | PBOC (China) |
| Founded | 1998 | 2018 |
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
SkyRemit
Pros
- Low fixed fee of ¥79 per transfer
- Accepts WeChat Pay and Alipay
- Supports 50+ receive currencies
Cons
- Only sends from CNY
- Less known outside China
- No cash pickup option
When to choose OFX vs SkyRemit
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 50+ countries)
Choose SkyRemit if:
- You want the real mid-market exchange rate with no hidden markup
- Speed is your top priority — transfers can arrive in minutes
- SkyRemit's strengths (Bank Deposit) match your needs
Verdict: OFX or SkyRemit?
Cost: Too close to call
OFX and SkyRemit 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.
Faster: SkyRemit
SkyRemit is generally faster, with transfers arriving in Minutes to 2 days, compared to 1-3 business days for OFX.
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, SkyRemit is the better pick if you need large transfers and business payments.
Frequently asked questions
Is OFX or SkyRemit cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows OFX and SkyRemit are closely matched on total cost. OFX charges No transfer fees with a 0.5% - 1.5% above mid-market exchange rate markup, while SkyRemit charges ¥79 fixed fee + 0.38% float fee with a 0.4% - 1% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, OFX or SkyRemit?
OFX typically completes transfers in 1-3 business days, while SkyRemit 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 SkyRemit 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. SkyRemit is regulated by PBOC (China) with a 4.1/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for OFX vs SkyRemit?
OFX has a maximum transfer of no published upper limit (minimum $100), while SkyRemit allows up to $300,000 (minimum $500). 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 SkyRemit to send money internationally?
For most users, OFX offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, SkyRemit 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.