Panda Remit vs OFX: Fees, Rates & Speed Compared
Panda Remit
4.0Panda Remit specializes in transfers to China and other Asian markets. Competitive rates on CNY corridors with fast delivery via WeChat Pay and Alipay.
OFX
4.4OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
Panda Remit and OFX are both popular choices for international money transfers, but they take different approaches. Panda Remit, founded in 2017 and headquartered in Hong Kong, is best known for fast, small remittances. 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, Panda Remit delivers ₹3644.86 more to the recipient.
In this comparison
Live comparison: Panda Remit vs OFX across popular corridors
The table below shows how much the recipient receives when sending through Panda Remit vs OFX on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Panda Remit | OFX | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹94,470.69 | ₹90,825.83 | Panda Remit (+₹3644.86) |
| GBP → EUR(£1,000) | — | €1,121.36 | N/A |
| USD → PHP($500) | — | ₱28,533.99 | N/A |
| USD → MXN($1,000) | — | MX$16,837.46 | N/A |
| GBP → PKR(£500) | — | — | 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 Panda Remit and OFX
Panda Remit vs OFX: Feature comparison
| Feature | Panda Remit | OFX |
|---|---|---|
| Overall rating | 4.0/5 (Good) | 4.4/5 (Excellent) |
| Fee structure | $0 - $5 depending on corridor | No transfer fees |
| Exchange rate markup | 0.2% - 1% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | Minutes to 1 day | 1-3 business days |
| Supported countries | 30+ | 190+ |
| Supported currencies | 20+ | 55+ |
| Max transfer | $50,000 | No limit |
| Payment methods | Bank Transfer, Debit Card | Bank Transfer |
| Delivery methods | Bank Deposit, WeChat Pay, Alipay | Bank Deposit |
| Regulators | MSO (Hong Kong), FinCEN | ASIC, FCA, FinCEN |
| Founded | 2017 | 1998 |
Pros and cons
Panda Remit
Pros
- Very competitive CNY exchange rates
- Delivery to WeChat Pay and Alipay
- Fast delivery to China
Cons
- Limited corridor coverage (Asia-focused)
- Less known outside Asian communities
- Customer support mainly in Chinese/English
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 Panda Remit vs OFX
Choose Panda Remit if:
- You want the real mid-market exchange rate with no hidden markup
- You want zero transfer fees ($0 - $5 depending on corridor)
- 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
- You need wider country coverage (190+ vs 30+ countries)
Verdict: Panda Remit or OFX?
Cost winner: Panda Remit
Panda Remit wins on cost in 1 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹3644.86 more with Panda Remit. Panda Remit achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Panda Remit
Panda Remit is generally faster, with transfers arriving in Minutes to 1 day, 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, Panda Remit 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 Panda Remit or OFX cheaper for international transfers?
Based on our data, Panda Remit is generally cheaper across most corridors. Panda Remit charges $0 - $5 depending on corridor with a 0.2% - 1% 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, Panda Remit delivers ₹3644.86 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Panda Remit or OFX?
Panda Remit typically completes transfers in Minutes to 1 day, 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 Panda Remit and OFX safe to use?
Yes, both are regulated money transfer services. Panda Remit is regulated by MSO (Hong Kong), FinCEN and has a 4.0/5 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 Panda Remit vs OFX?
Panda Remit has a maximum transfer of $50,000 (minimum $50), 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 Panda Remit or OFX?
Panda Remit offers Bank Deposit, WeChat Pay, Alipay. OFX offers Bank Deposit. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use Panda Remit or OFX to send money internationally?
For most users, Panda Remit 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 Alipay.