MoneyGram vs OFX: Fees, Rates & Speed Compared
MoneyGram
3.7MoneyGram is a global money transfer company with a large agent network, offering both online and in-person transfer options to 200+ countries.
OFX
4.4OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
MoneyGram and OFX are both popular choices for international money transfers, but they take different approaches. MoneyGram, founded in 1940 and headquartered in Dallas, USA, is best known for cash pickup and global coverage. OFX, operating since 1998 from Sydney, Australia, 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. Our data shows the difference can be significant — on a $1,000 USD → INR transfer, MoneyGram delivers ₹3107.49 more to the recipient.
In this comparison
Live comparison: MoneyGram vs OFX across popular corridors
The table below shows how much the recipient receives when sending through MoneyGram vs OFX on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | MoneyGram | OFX | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹93,933.32 | ₹90,825.83 | MoneyGram (+₹3107.49) |
| GBP → EUR(£1,000) | €1,135.38 | €1,121.36 | MoneyGram (+€14.02) |
| USD → PHP($500) | — | ₱28,533.99 | N/A |
| USD → MXN($1,000) | MX$17,095.45 | MX$16,837.46 | MoneyGram (+MX$257.99) |
| GBP → PKR(£500) | — | — | N/A |
| USD → NGN($200) | ₦269,371.70 | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between MoneyGram and OFX
MoneyGram vs OFX: Feature comparison
| Feature | MoneyGram | OFX |
|---|---|---|
| Overall rating | 3.7/5 (Good) | 4.4/5 (Excellent) |
| Fee structure | From $1.99 to $11.99+ | No transfer fees |
| Exchange rate markup | 1% - 3% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | Minutes to 3 days | 1-3 business days |
| Supported countries | 200+ | 190+ |
| Supported currencies | 50+ | 55+ |
| Max transfer | $10,000 | No limit |
| Payment methods | Bank Transfer, Debit Card, Credit Card, Cash | Bank Transfer |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Wallet | Bank Deposit |
| Regulators | FinCEN, FCA | ASIC, FCA, FinCEN |
| Founded | 1940 | 1998 |
Pros and cons
MoneyGram
Pros
- Large global agent network
- Cash pickup available worldwide
- Transfers can arrive in minutes
- In-store and online options
- Crypto integration with Stellar
Cons
- Higher fees for smaller transfers
- Exchange rate markup can be steep
- Online experience less polished
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
When to choose MoneyGram vs OFX
Choose MoneyGram if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- Speed is your top priority — transfers can arrive in minutes
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
Verdict: MoneyGram or OFX?
Cost winner: MoneyGram
MoneyGram wins on cost in 3 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹3107.49 more with MoneyGram. MoneyGram achieves this through transparent pricing with the real mid-market exchange rate.
Faster: MoneyGram
MoneyGram is generally faster, with transfers arriving in Minutes to 3 days, compared to 1-3 business days for OFX.
Coverage: Comparable reach
Both providers have comparable coverage. MoneyGram supports 200+ countries and 50+ currencies, while OFX covers 190+ countries with 55+ currencies.
Bottom line
Overall, MoneyGram 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 MoneyGram or OFX cheaper for international transfers?
Based on our data, MoneyGram is generally cheaper across most corridors. MoneyGram charges From $1.99 to $11.99+ with a 1% - 3% 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, MoneyGram delivers ₹3107.49 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, MoneyGram or OFX?
MoneyGram typically completes transfers in Minutes to 3 days, while OFX takes 1-3 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 MoneyGram and OFX safe to use?
Yes, both are regulated money transfer services. MoneyGram is regulated by FinCEN, FCA and has a 3.7/5 Trustpilot rating. OFX is regulated by ASIC, FCA, FinCEN with a 4.4/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for MoneyGram vs OFX?
MoneyGram has a maximum transfer of $10,000 (minimum $1), while OFX allows up to no published upper limit (minimum $100). 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 MoneyGram or OFX?
MoneyGram offers Bank Deposit, Cash Pickup, Mobile Wallet. OFX offers Bank Deposit. MoneyGram supports cash pickup, which is useful when recipients don't have a bank account.
Should I use MoneyGram or OFX to send money internationally?
For most users, MoneyGram 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.