OFX Review- Transfer Funds to Over 50 Countries 2020

4 stars based on 3779 reviews

Send Money To Rate
USD PHP ₱ 47.87
USD MXN $ 18.31
USD INR ₹ 62.66

OFX Review by Exchange Rate IQ

Overall rating
7.5 /10

Our experts at Exchange Rate IQ research on every money remittance company to provide independent and unbiased reviews on them. The same procedure has been adopted by them to provide the review on OFX Money Transfer Company which offers remittance services in more than 80 countries from the US via mobile and web.

OFX, which was known as OzForex offers money transfer services to Travelex, MoneyGram, Xero, ING Direct, and Macquarie International Money Transfers as well as individuals. It also offers money transferring services as expatriates and small businesses. It is one of the world’s largest companies specializing in foreign exchange and international payments. Some of the benefits of using OFX services are:

  • 24*7 customer assistance available
  • Competitive exchange rates
  • Multiple transfer options

Review of OFX :

Launched in the year 1998, OFX is an Australian online money remittance company with headquarters in Sydney. It offers transfers to individuals, small traders and businesses with a minimum transfer amount of USD $1,000 or similar amount in another currency. One can send money for multiple purposes through bank transfer, including property, education, emigration, family transfers, luxury goods, wedding, and for savings without any maximum transfer limit. The company offers multiple types of transfers including:

  • Bank-to-Bank Transfer
  • Online Transfer
  • One Off Payments
  • Spot Transfer
  • Forward Contracts
  • Market Orders
  • Recurring Transfers

One can only send the funds through a bank account as it does not take payments through debit and credit card. It also does not offer cash pick-up service which is a drawback for it.

The company offers 24/7 customer support in various countries for immediate redressal of grievances, so one can contact it anytime. It also allows 24/7 trading facilities over the phone or online, which might make it the first ever currency trading firm to be open on weekends also. The company is highly secured so that one can transfer funds worry-free anywhere.

So, on an overall basis, we rate it 7.5 out of 10.

Pricing : How much does OFX cost?

7 /10

The company charges different fees for transferring funds from different countries and also has a fee-free threshold. Some of the currencies that you transfer and the fee charged are provided under:

OFX Transfer Fees

Currency Fee Fee Free Threshold
AED 50 30,000
AUD 15 10,000
CAD 15 10,000
DKK 20 50,000
GBP 7 3,000
USD 5 5,000
SGD 15 10,000
HKD 60 50,000

OFX Exchange Rates

The company offers the best exchange rates in the market where one will get the rates with a margin as low as 0.4%. Once you agree with the exchange rate and start the transfer process, the rates get locked so you will know what exact amount will be received by the beneficiary. You can check the fee for transferring funds here at OFX Currency Converter

Any Other Fee

In most of the cases, intermediary banks do not charge any fee, but OFX won’t guarantee any deductions from intermediary or receiving bank when transferring your money to the beneficiary account. For example, JPY and ZAR attract additional fees due to local laws.

This fee charged by the company is high compared to many of its competitors, and therefore, we rate it 7 out of 10 under the pricing head.

Transparency: Does OFX have any hidden fees?

9 /10

OFX Transfer Hidden Fee

The company does not charge any hidden fees from its customers. However, some third-party banks can charge fee in-between to complete the transaction so one must check with the bank before transferring funds.

OFX Money Transfer Tracking Details

One can track the OFX transfers on their dashboard. The company also provides the details of transfer to users through SMS and email.

So, for the transparency of OFX, we rate it 9 out of 10, as it is not providing direct tracking procedure for the user.

Transfer Speed: How long does it take to send money through OFX?

7/10

The company offers bank-to-bank transfers as well as online transfers. So they both differ from each other and take different time, according to the country and the currency you are sending.

  • If you are sending money using Bank to Bank transfer services of OFX, then it will take 2-5 business days.
  • In online transfers, it will take 1-2 business days, which is faster in both domestically and internationally.

The company is not offering instant transfer services as many of its competitors. Therefore, we rate it 7 out of 10 for its transfer speed.

Coverage: How many Countries & Currencies does OFX support?

7/10

The company offers transfer from Australia, Canada, Hong Kong, New Zealand, the United States, the United Kingdom and Singapore to over 100 countries in 55+ currencies. Some of the major currencies supported by the company are:

Currencies Supported by OFX Money Transfer

AED AUD CAD PLN THB ZAR
INR USD SGD SEK GBP EUR
DKK MXN CHF NZD NOK JPY
HUF FZD PHP MAD LKR XFP

There are still many countries which are needed to be cover by the company to provide its services worldwide because many of its competitors are providing services to approximately 200 countries. Therefore, we rate it 7 out of 10 for its coverage and for using the services of OFX login here.

OFX Promo Codes & Offers

All Countries
For ExchangeRateIQ visitors, zero fee for money transfer.

OFX Transfer Process

Step-By-Step Guide to transfer funds with OFX

  1. Go to the OFX website.

  2. Click on “Get Started” at the mid of home page.

  3. You will be on a new page. Here select the type of account you want to set up, i.e., Personal Account, Sole Trader account or Business Account.

  4. Enter all the personal or business details as asked by the company.

  5. Enter the banking details and verify your identity.

  6. Submit all the details.

  7. You will get a confirmation email. Click on it.

  8. Enter the details of the recipient.

  9. Submit it and enter the amount you want to send through OFX website.

  10. Recheck all the details and confirm the transfer.

Send money with OFX

OFX send money to Russia

OFX money transfer covers the whole of Russia as it helps people from the USA, Canada, Australia, the UK and many other places. It offers flexible transfer options with 24*7 customer support and no maximum transfer limit. Once you register yourself on the website and company manages to send money to your bank in Russia, you can add documents required for the completion of account registration and send money to Russia. Although it does not offer services in all the banks, it helps you to make the transfer in another bank account if possible which will be received by the recipient within 5 business days.

Send money to Canada with OFX

You can receive and send money from Canada with OFX as it outsmarts the banks by providing higher exchange rates and low transfer fees. Some of the Canadian banks where you can transfer money are Toronto-Dominion Bank, National Bank of Canada, Royal Bank, Bank of Montreal, Bank of Nova Scotia, etc. It takes approximately 2-3 days to transfer money to Canada from any other country where it providing its services.

Send money to Spain with OFX

Whenever you look for transferring money to Spain, go for the low-cost high exchange rate transfers, which provide you with better exchange rates than the bank. So, we have found you the one and that is OFX which offer flexible transfer option with 24/7 customer support. You can send a minimum amount of AUD 250 or similar amount in other currencies with no maximum transfer limit and least transfer fees.

The company offer transfers in 55 currencies where you can also choose forward contacts to schedule the transfers. It also offers business transfers and limits orders on more than 30 currencies with no maximum transfer limit for over 100 countries.

User experience of OFX

8/10

OFX international money transfer has been offering its services from the past 15 years and handled more than $100 billion in forex transactions. The company has overall good reviews on Trustpilot, still, some of the positive and negative aspects as per the users are:

Positive:

  • Better exchange rates compared to most of the banks
  • Easy and simple website
  • Highly secured

Negative:

  • Website available in English only
  • No cash pick-up available

 

OFX Customer Service Details

Country OFX Phone Number (Personal) OFX Phone Number (Business)
International +61 2 8667 8090 +61 2 8667 8091
Australia 1300 300 424 1300 300 524
USA 1-888-288-7354 1-888-966-6888
Canada 1-800-680-0750 1-855-680-0745
New Zealand 0800 161 868 0800 161 898
UK +44 207 614 4194 +44 207 614 4195
Hong Kong (+852) 3008 5721 (+852) 2777 7147


OFX Mobile Apps

The company is offering its Android as well as iOS apps, which you can download here:

  1. OFX Android App
  2. OFX iOS App

You can have a look at the OFX transfer rate by using the apps without logging in, which is good for users who just want to know the exchange rates only.

 

OFX Referral

The company provides a unique link to refer any person through your account. If the person uses the services of OFX through that link and transfers the minimum amount than both of you will be rewarded for it.

OzForex (OFX.com) Promo Code

The company shares promo codes with its users through mobile notification, email and SMS. They can use this promo code for getting better exchange rates.

So, keeping multiple factors in mind, the experts of Exchange Rate IQ have given it 8 out of 10 in user experience head. For using the services of OFX sign up here.

Security : Is OFX Safe?

10/10

OFX provides a higher level of digital security as it is secured by Norton's Symantec SSL certificate so that one can transfer funds with confidence. It has been regulated by various authorities in the countries it is serving. Some of these are:

  • It is a full member of the Australian Financial Markets Association and is regulated by the Australian Securities and Investments Commission.
  • The company is registered as a Money Services Business at a federal level with the Financial Crimes Enforcement Network in the USA.
  • In the UK, it is regulated by the Financial Conduct Authority as an Authorised Payment Institution.
  • In New Zealand, it is registered as a financial service provider under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.
  • In Canada, it is a BBB accredited business and regulated by FINTRAC.

All these accreditations and regulatory shows that the company is highly secured and offers safe services to its customers, henceforth, we rate it 10 out of 10 under the security head.

OFX Exchange Rate

Send Money From Send Money To Rate
Australia Canada $ 0.99
Australia China ¥ 4.95
Australia India ₹ 46.85
Australia Mexico $ 13.69
Australia Pakistan PKRs 75.3
Australia Philippines ₱ 35.8
Australia Sri Lanka ₨ 110.1
Bahrain Canada $ 3.46
Bahrain China ¥ 17.32
Bahrain India ₹ 163.9
Bahrain Mexico $ 47.88
Bahrain Pakistan PKRs 263.4
Bahrain Philippines ₱ 125.23
Bahrain Sri Lanka ₨ 385.13
Brazil Canada $ 0.38
Brazil China ¥ 1.89
Brazil India ₹ 17.8
Brazil Mexico $ 5.21
Brazil Pakistan PKRs 28.7
Brazil Philippines ₱ 13.65
Brazil Sri Lanka ₨ 41.96
Canada Canada $ 1
Canada China ¥ 4.91
Canada India ₹ 46.44
Canada Mexico $ 13.57
Canada Pakistan PKRs 74.63
Canada Philippines ₱ 35.48
Canada Sri Lanka ₨ 109.12
Czech Republic Canada $ 0.05
Czech Republic China ¥ 0.27
Czech Republic India ₹ 2.59
Czech Republic Mexico $ 0.76
Czech Republic Pakistan PKRs 4.17
Czech Republic Philippines ₱ 1.99
Czech Republic Sri Lanka ₨ 6.1
Denmark Canada $ 0.2
Denmark China ¥ 0.98
Denmark India ₹ 9.44
Denmark Mexico $ 2.76
Denmark Pakistan PKRs 14.9
Denmark Philippines ₱ 7.09
Denmark Sri Lanka ₨ 21.79
Hong Kong Canada $ 0.17
Hong Kong China ¥ 0.83
Hong Kong India ₹ 8.03
Hong Kong Mexico $ 2.35
Hong Kong Pakistan PKRs 12.68
Hong Kong Philippines ₱ 6.03
Hong Kong Sri Lanka ₨ 18.54
Euro Countries Canada $ 1.49
Euro Countries China ¥ 7.45
Euro Countries India ₹ 70.47
Euro Countries Mexico $ 20.59
Euro Countries Pakistan PKRs 113.25
Euro Countries Philippines ₱ 53.84
Euro Countries Sri Lanka ₨ 165.59
Japan Canada $ 0.01
Japan China ¥ 0.06
Japan India ₹ 0.56
Japan Mexico $ 0.16
Japan Pakistan PKRs 0.89
Japan Philippines ₱ 0.42
Japan Sri Lanka ₨ 1.3
Kuwait Canada $ 4.28
Kuwait China ¥ 21.42
Kuwait India ₹ 202.68
Kuwait Mexico $ 59.2
Kuwait Pakistan PKRs 325.72
Kuwait Philippines ₱ 154.86
Kuwait Sri Lanka ₨ 476.26
Malaysia Canada $ 0.3
Malaysia China ¥ 1.49
Malaysia India ₹ 14.01
Malaysia Mexico $ 4.1
Malaysia Pakistan PKRs 22.59
Malaysia Philippines ₱ 10.75
Malaysia Sri Lanka ₨ 33.04
Mexico Canada $ 0.07
Mexico China ¥ 0.35
Mexico India ₹ 3.34
Mexico Mexico $ 1
Mexico Pakistan PKRs 5.28
Mexico Philippines ₱ 2.51
Mexico Sri Lanka ₨ 7.72
New Zealand Canada $ 0.93
New Zealand China ¥ 4.63
New Zealand India ₹ 43.84
New Zealand Mexico $ 12.81
New Zealand Pakistan PKRs 70.46
New Zealand Philippines ₱ 33.5
New Zealand Sri Lanka ₨ 103.02
Norway Canada $ 0.16
Norway China ¥ 0.78
Norway India ₹ 7.49
Norway Mexico $ 2.19
Norway Pakistan PKRs 11.83
Norway Philippines ₱ 5.63
Norway Sri Lanka ₨ 17.29
Oman Canada $ 3.38
Oman China ¥ 16.93
Oman India ₹ 160.21
Oman Mexico $ 46.8
Oman Pakistan PKRs 257.47
Oman Philippines ₱ 122.41
Oman Sri Lanka ₨ 376.45
Poland Canada $ 0.35
Poland China ¥ 1.74
Poland India ₹ 16.74
Poland Mexico $ 4.9
Poland Pakistan PKRs 26.43
Poland Philippines ₱ 12.58
Poland Sri Lanka ₨ 38.65
Saudi Arabia Canada $ 0.34
Saudi Arabia China ¥ 1.7
Saudi Arabia India ₹ 16.05
Saudi Arabia Mexico $ 4.7
Saudi Arabia Pakistan PKRs 25.87
Saudi Arabia Philippines ₱ 12.31
Saudi Arabia Sri Lanka ₨ 37.83
Singapore Canada $ 0.95
Singapore China ¥ 4.69
Singapore India ₹ 45.08
Singapore Mexico $ 13.2
Singapore Pakistan PKRs 71.21
Singapore Philippines ₱ 33.87
Singapore Sri Lanka ₨ 104.11
South Africa Canada $ 0.1
South Africa China ¥ 0.49
South Africa India ₹ 4.71
South Africa Mexico $ 1.38
South Africa Pakistan PKRs 7.44
South Africa Philippines ₱ 3.54
South Africa Sri Lanka ₨ 10.87
South Korea Canada $ 0
South Korea China ¥ 0.01
South Korea India ₹ 0.05
South Korea Mexico $ 0.02
South Korea Pakistan PKRs 0.09
South Korea Philippines ₱ 0.04
South Korea Sri Lanka ₨ 0.12
Sweden Canada $ 0.15
Sweden China ¥ 0.75
Sweden India ₹ 7.19
Sweden Mexico $ 2.11
Sweden Pakistan PKRs 11.36
Sweden Philippines ₱ 5.4
Sweden Sri Lanka ₨ 16.61
Switzerland Canada $ 1.36
Switzerland China ¥ 6.68
Switzerland India ₹ 64.25
Switzerland Mexico $ 18.82
Switzerland Pakistan PKRs 101.63
Switzerland Philippines ₱ 48.28
Switzerland Sri Lanka ₨ 148.59
UAE Canada $ 0.36
UAE China ¥ 1.77
UAE India ₹ 17.02
UAE Mexico $ 4.98
UAE Pakistan PKRs 26.88
UAE Philippines ₱ 12.79
UAE Sri Lanka ₨ 39.3
United Kingdom Canada $ 1.72
United Kingdom China ¥ 8.61
United Kingdom India ₹ 81.51
United Kingdom Mexico $ 23.81
United Kingdom Pakistan PKRs 130.99
United Kingdom Philippines ₱ 62.28
United Kingdom Sri Lanka ₨ 191.53
USA Canada $ 1.32
USA China ¥ 6.62
USA India ₹ 62.66
USA Mexico $ 18.31
USA Pakistan PKRs 100.7
USA Philippines ₱ 47.87
USA Sri Lanka ₨ 147.23

Transfer Type And Modes

Pay In Options

Bank

Pay Out Options

Bank

Service Mode

 Online

Exchange Rate Type

Fixed

OFX FAQ's

Does OFX offer Forward Exchange?

Yes. OFX offers forward exchange and you can also adjust the date of Forward Exchange Contract for a maximum of 12 months from the date it was originally entered.
Discuss this question

Does OFX lock-in rates before the completion of the transaction?

Yes. You can yourself lock-in the exchange rates before transferring the funds to the company. So the recipient will receive the amount that is shown in the final transaction page.
Discuss this question

How can I track my transfers?

With OFX, you can track your transactions on your dashboard. Besides this, the company also provides notification to you through SMS and email.
Discuss this question

Alternatives to OFX

OFX User Reviews and Ratings

reviews powered by trustpilot

As always

Review published ago

As always , no fuss ,very simple and efficient money transfer . I will certainly be using OFX again in the future.

by Trevor Sherman

As always

Review published ago

As always , no fuss ,very simple and efficient money transfer . I will certainly be using OFX again in the future.

by Trevor Sherman

Poor Service

Review published ago

Did a deal AUD to INR and send the money on Thursday. Received message on receiving fund on Friday Morning. Called them today and the customer service consultant says it may take another 5-6 days for the money to appear in the Recepients Bank Account. This is poor service. Bank holiday in America also has an Impact? Dont understand. Will never use OFX again. Also CBA rates are better only charges $6 per transaction for up to $10K.

by Kugalingam Selladurai

Poor Service

Review published ago

Did a deal AUD to INR and send the money on Thursday. Received message on receiving fund on Friday Morning. Called them today and the customer service consultant says it may take another 5-6 days for the money to appear in the Recepients Bank Account. This is poor service. Bank holiday in America also has an Impact? Dont understand. Will never use OFX again. Also CBA rates are better only charges $6 per transaction for up to $10K.

by Kugalingam Selladurai

Thanks for all the help

Review published ago

Thanks for all the help. I might be misspelling her name Mersin, was so professional and walked me through the necessary procedure on the phone. Thanks again. Michael

by Michael Tierney

Thanks for all the help

Review published ago

Thanks for all the help. I might be misspelling her name Mersin, was so professional and walked me through the necessary procedure on the phone. Thanks again. Michael

by Michael Tierney

Excellent service and exchange rates…

Review published ago

Excellent service and exchange rates with no fees, completed my transaction in one day. Recommended.

by BARRY HOPKINS

Excellent service and exchange rates…

Review published ago

Excellent service and exchange rates with no fees, completed my transaction in one day. Recommended.

by BARRY HOPKINS

Great way to do money transfers

Review published ago

Once you have an account set up the process is dead easy and 100% safe. It also saves you heaps. The confirmations at every step of the way are marvellous. As is the speed. The only reason I didn’t give a five it because it is very hard to speak to the same staff member when you are have difficulties. Once I did have a problem and spoke with James Mc in Transfers Dept. Fabulous!! Great advise and I had my money extremely fast. Generally phone contacts are marvellous and helpful. Fees are very fair. I wouldn’t use any other company.

by Tony Douglas

Unprofessional systems in place here

Review published ago

Unprofessional systems in place here. Needed a set figure transfer to USA but, as rates changed during the application process, OFX increased the amount transferred rather than decrease the AUS amount required for that set amount. The first you know this has occurred is when you complete and confirm the transfer. OFX take no responsibility and tell me to contact my USA client and have him request his bank to release moneys back to OFX. Hardly want to put my client through all that but OFX don't want to accept their system is flawed. Be careful OFX only send what you have instructed as it could very well be more.

by Gavan Costelloe

Call to follow up was worth changing review if process goes as stated will update again

Review published ago

I too have had same issue as other 1 star review set up account on 29th of January. After two false starts finally got transfer started on the 6th of February, confirmation said money to be made available to recipient on 10th. Money out of my account on 7th. Called on 10th was told via email money would be in account that night. 11th no money in recipient account, was told then money was just available to OFX account its the 11th where has my money been floating and wouldn't be in recipient account till friday, So much for 1 to 2 days. If they are wondering why their numbers were lower than expectation maybe its the customer care they are providing

by mark larson

Great service

Review published ago

Great service, always kept uptodate with progress

by John Drayton

OFX / The Best

Review published ago

I've been working with OFX for something like 10 years. They're professional, reliable and easy to work with every time. And did I mention they have the best rates?

by Tim Levy

WARNING*********Stay away from OFX…

Review published ago

WARNING*********Stay away from OFX ******** The Worst company I have ever dealt with. My deal Id is 5F7BEAA0, I was told on the phone that OFX is such a big company it takes only 24 hrs to send the money and in some cases leven ess than that. I deposited the amount onto OFX account on 31st Jan hoping that this money will be received within next 24 hours today is 8th February this transaction is still not completed. I haven sent multiple emails asking them to advise me a date when recipient is going to receive the money but no satisfactory answer. They are cons stay away from them. Eventhough they are still holding my money I am going to make a formal complaint to Financial Ombudsman. Terrible terrible company, really appalling service. *******A BIG BIG ZERO RATING *******

by Adnan Ziauddin

Wish I knew about OFX long time ago..

Review published ago

Wish I knew about OFX long time ago... First class foreign exchange trading company, always at hand when you need them. Thank you guys, you are second to none. Rodolfo

by RODOLFO

Can not Fault at all....

Review published ago

Simple and Straight forward - great staff on telephone as required - way ahead of the rest. Been using them for number of years - highly recommended

by Bill

Just a magic trade

Review published ago

Just a magic trade. Super fast even over the weekend, all completed in Just 2 days, Thank you very much. Jim.

by Jim Pugh

Excellent company

Review published ago

Excellent company! I worked with them over a period of six months to set up a foreign funds transfer. Not only did they beat every bank rate I checked, but their customer service and assistance was unbeaten. I never had a problem getting ahold of my rep to ask questions and get things moving. I'm a customer for life!

by B W

Great company

Review published ago

Excellent rates, greta service, been using for years

by Paul and thanks for your order

i find ofx a very good and reliable…

Review published ago

i find ofx a very good and reliable company there rates are very good they are quick to let you know that your deal has been done and inform you by em i am happy to recommend ofx

by david

I did a transfer on Jan 23

Review published ago

I did a transfer on Jan 23. For various reasons there were compliance questions. However it took until Jan 29th for OFX to reach out. The middle office reply included the phrase "compliance has its own procedure regardless of we were in contact with you". The service has always been seemless until this issue. Not good enough

by Paul Burgin

Excellent Service

Review published ago

Excellent Service! Account setup took a while due to all the necessary verification, but this only made me trust the service even more. I sent my funds (5-digit USD amount) on Thursday, and by Tuesday my recipient had already received their Euro Payment. Overall I am extremely satisfied with the service and rates I got.

by Alexander King Sing

No complaints

Review published ago

No complaints - excellent service provided when transferring (>$500k) funds from NZ to Australia (deceased estate proceeds) - the OFX personal manager provided prompt and efficient service, funds were deposited to the NZ OFX account around midday NZ time, and appeared in my Aust account by 6:00pm that same night. Very happy and will be recommended OFX to clients and friends. OFX commission rate was very reasonable and much better than banks!

by John Gibson

Excellent service

Review published ago

Excellent service, I've used OFX a few times and wouldn't recommend any other company. Thanks.

by Leonardo Teixeira
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Compare OFX With Other Money Transfer Companies

OFX Company & Contact Info

Address:- NZForex Limited Level 26, PWC Tower, 188 Quay Street, Auckland, New Zealand
Email:- -
Phone:- 1-888-288-7354 (USA)
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