OFX vs Western Union: Fees, Rates & Speed Compared
OFX
4.4OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
Western Union
3.8Western Union is one of the world's oldest and largest money transfer companies, with an extensive agent network for cash pickups in 200+ countries.
OFX and Western Union 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. Western Union, operating since 1851 from Denver, USA, focuses on cash pickup and global coverage. 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 $1,000 USD → INR transfer, Western Union delivers ₹2821.73 more to the recipient.
In this comparison
Live comparison: OFX vs Western Union across popular corridors
The table below shows how much the recipient receives when sending through OFX vs Western Union on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | OFX | Western Union | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹90,825.83 | ₹93,647.56 | Western Union (+₹2821.73) |
| GBP → EUR(£1,000) | €1,121.36 | €1,130.95 | Western Union (+€9.59) |
| USD → PHP($500) | ₱28,533.99 | — | N/A |
| USD → MXN($1,000) | MX$16,837.46 | MX$16,978.64 | Western Union (+MX$141.18) |
| GBP → PKR(£500) | — | — | N/A |
| USD → NGN($200) | — | ₦270,822.52 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between OFX and Western Union
OFX vs Western Union: Feature comparison
| Feature | OFX | Western Union |
|---|---|---|
| Overall rating | 4.4/5 (Excellent) | 3.8/5 (Good) |
| Fee structure | No transfer fees | From $0 to $10+ depending on method |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 1% - 4% above mid-market |
| Transfer speed | 1-3 business days | Minutes to 5 days |
| Supported countries | 190+ | 200+ |
| Supported currencies | 55+ | 130+ |
| Max transfer | No limit | $50,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card, Cash |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Wallet |
| Regulators | ASIC, FCA, FinCEN | FinCEN, FCA, Various |
| Founded | 1998 | 1851 |
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
Western Union
Pros
- Massive global agent network
- Cash pickup in 200+ countries
- Transfers can arrive in minutes
- Cash payment option available
- Well-established and trusted
Cons
- Higher fees than digital-only competitors
- Exchange rate markup can be significant
- Online rates differ from in-store
When to choose OFX vs Western Union
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 Western Union if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You want zero transfer fees (From $0 to $10+ depending on method)
- Speed is your top priority — transfers can arrive in minutes
Verdict: OFX or Western Union?
Cost winner: Western Union
Western Union wins on cost in 3 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹2821.73 more with Western Union. Western Union achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Western Union
Western Union is generally faster, with transfers arriving in Minutes to 5 days, compared to 1-3 business days for OFX.
Wider coverage: Western Union
Western Union has broader coverage with 200+ countries and 130+ currencies. Western Union also offers Bank Deposit, Cash Pickup, Mobile Wallet.
Bottom line
Overall, Western Union 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 Western Union cheaper for international transfers?
Based on our data, Western Union is generally cheaper across most corridors. Western Union charges From $0 to $10+ depending on method with a 1% - 4% 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 USD → INR transfer, Western Union delivers ₹2821.73 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, OFX or Western Union?
OFX typically completes transfers in 1-3 business days, while Western Union takes Minutes to 5 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 Western Union safe to use?
Yes, both are regulated money transfer services. OFX is regulated by ASIC, FCA, FinCEN and has a 4.4/5 Trustpilot rating. Western Union is regulated by FinCEN, FCA, Various 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 Western Union?
OFX has a maximum transfer of no published upper limit (minimum $100), while Western Union 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 Western Union?
OFX offers Bank Deposit. Western Union offers Bank Deposit, Cash Pickup, Mobile Wallet. Western Union supports cash pickup for recipients without bank access.
Should I use OFX or Western Union to send money internationally?
For most users, Western Union 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.