OFX vs Remitly: 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.
Remitly
4.5Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
OFX and Remitly 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. Remitly, operating since 2011 from Seattle, 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, Remitly delivers ₹3143.41 more to the recipient.
In this comparison
Live comparison: OFX vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through OFX vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | OFX | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹90,825.83 | ₹93,969.24 | Remitly (+₹3143.41) |
| GBP → EUR(£1,000) | €1,121.36 | €1,153.17 | Remitly (+€31.81) |
| USD → PHP($500) | ₱28,533.99 | ₱29,896.01 | Remitly (+₱1362.02) |
| USD → MXN($1,000) | MX$16,837.46 | MX$18,269.79 | Remitly (+MX$1432.33) |
| GBP → PKR(£500) | — | ₨188,078.26 | N/A |
| USD → NGN($200) | — | ₦280,897.92 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between OFX and Remitly
OFX vs Remitly: Feature comparison
| Feature | OFX | Remitly |
|---|---|---|
| Overall rating | 4.4/5 (Excellent) | 4.5/5 (Excellent) |
| Fee structure | No transfer fees | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | 1-3 business days | Minutes to 3-5 days |
| Supported countries | 190+ | 100+ |
| Supported currencies | 55+ | 40+ |
| Max transfer | No limit | $10,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | ASIC, FCA, FinCEN | FinCEN, FCA |
| Founded | 1998 | 2011 |
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
Remitly
Pros
- Express transfers arrive in minutes
- Cash pickup available in many countries
- Mobile money delivery option
- First transfer promotions often available
- Home delivery in select countries
Cons
- Rates less competitive for large transfers
- No multi-currency account
- Focused mainly on remittance corridors
When to choose OFX vs Remitly
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 100+ countries)
Choose Remitly if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You want to send to a mobile money wallet (M-Pesa, GCash, etc.)
- You want zero transfer fees (From $0 to $3.99 per transfer)
- Speed is your top priority — transfers can arrive in minutes
Verdict: OFX or Remitly?
Cost winner: Remitly
Remitly wins on cost in 4 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹3143.41 more with Remitly. Remitly achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Remitly
Remitly is generally faster, with transfers arriving in Minutes to 3-5 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, Remitly 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 Remitly cheaper for international transfers?
Based on our data, Remitly is generally cheaper across most corridors. Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% 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, Remitly delivers ₹3143.41 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, OFX or Remitly?
OFX typically completes transfers in 1-3 business days, while Remitly takes Minutes to 3-5 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 Remitly 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. Remitly is regulated by FinCEN, FCA with a 4.5/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for OFX vs Remitly?
OFX has a maximum transfer of no published upper limit (minimum $100), while Remitly allows up to $10,000 (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 Remitly?
OFX offers Bank Deposit. Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Remitly supports cash pickup for recipients without bank access.
Should I use OFX or Remitly to send money internationally?
For most users, Remitly 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 Home Delivery.