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Review: OFX international money transfers

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Get a competitive rate and pay no fees when you send your money overseas.’s rating: 4.0 / 5.0


How’d we get our score?

Fees & rates: 3.5 / 5.0
Speed: 4.0 / 5.0
Services: 5.0 / 5.0
User experience: 3.5 / 5.0

OFX offers flexible transfer methods, including one-off money transfers, recurring transfers, forward exchange contracts and target rate orders.

With $0 transfer fees, OFX can be a good option for large money transfers — just be aware of single-transaction and yearly minimum amount requirements.

USD 1,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed


Product NameOFX International Money Transfers
Min. Transfer AmountUSD 1,000
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Email
Online Transfer Fee$0
Branch Transfer Fee$0
Phone Transfer Fee$0
Exchange Rate UpdatesReal time


  • Support for 55+ major and exotic currencies
  • Competitive rates and no transfer fees
  • Multiple transfer options include forward contracts and limit orders


  • No cash payments or pickup — bank deposits only
  • Phone verification required for new accounts

How much will I pay to send money with OFX?

Nothing — there is no transfer fee for OFX transfers. You may need to pay a fee with a third-party bank, but none of that money goes to OFX.

Sending money to Mexico

Let’s say you wanted to send some money to Mexico to help a relative cover the cost of a major purchase. Here’s what it might look like using OFX versus a major bank. All information was pulled on April 27, 2019 and may have changed.

OFXBank of America wire transfer
Exchange rate18.5118.59
Transfer fee0 USD35 USD
Minimum transfer speed1 day2 days
Transfer optionsOnline, by phone; bank-to-bankOnline, at a branch; bank-to-bank
Total sent1,000 USD965 USD
Total received18,511.89 MXN17,942.66 MXN

In this case, the best choice is OFX. More money arrives to your recipient, it costs less and it’ll get there faster.

How are OFX’s exchange rates?

OFX offers exchange rates that typically beat those offered by US banks. You can check what rate will apply to your transaction at any time on its Customer exchange rates page.

Typically, OFX charges 1.5% or less above the mid-market rate when you transfer funds. The larger your transfer, the smaller the percentage taken.

Calculate your exchange rate

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 0.838 EUR 4,188 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What types of personal transfers does OFX support?

Your options for sending funds to OFX are limited to a wire transfer or direct debit from your bank account. The minimum amount you can send abroad with OFX is $1,000 per year and $200 per transfer. There’s no maximum to how much you can send.

The delivery method is limited to transferring to another bank account, but you don’t have to send it right away as a one-off. Other transfer options include:

  • Limit orders.
    Request a transfer that’s executed only when your desired exchange rate becomes available, at which point OFX will lock it in.
  • Forward contracts.
    Schedule a future transfer within the next 12 months at today’s rate, avoiding unpredictable movements.
  • Recurring transfers.
    Avoid re-entering the details of your weekly, monthly or quarterly transfers by automating regular payments.

Benefits and drawbacks


  • Currency support.
    55 supported currencies means you can send funds to a large selection of countries worldwide.
  • No fees.
    Pay $0 in transfer fees to OFX.
  • Flexible options.
    Pick one-off transfers, from limit orders, forward contracts and regular transfers to suit your needs.


  • No cash or check payment or pickup.
    OFX delivers funds through bank deposit only.
  • First transfer requires phone verification.
    You can sign up for a free account online, but you’ll need to be ready to accept a call from an OFX representative to verify your information before you can begin sending money worldwide.
  • High minimum transfer amount.
    You must transfer at least $1,000 within the year and a minimum of $200 per transfer to use OFX’s services.

Compare OFX to similar services

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 0.838 EUR 4,188 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 0.838 EUR 4,188 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 1 Same day USD 0.00 0.842 EUR 4,211 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 2,000 1 day USD 0.00 0.838 EUR 4,188 $0 transfer fees with rates at never more than a 2% markup. Go to site Show details
USD 0 1 - 2 days USD 1.99 0.829 EUR 4,144 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
USD 1 1 - 2 days USD 40.00 0.846 EUR
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 3.99 0.842 EUR 4,209 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 50 1 - 2 days USD 0.00 0.841 EUR 4,205 InstaReM offers quick and simple international money transfers with the ability to earn loyalty points. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How do I send money through OFX?

To start, have the following information on hand to sign up for a free account with OFX:

  • Name, email address, address and phone number
  • Date of birth
  • Nationality and country of origin
  • Driver’s license or other state ID number
  • Occupation

Then, take the following steps:

  1. Go to the OFX.
    Click the Go to Site button and you’ll be taken to OFX’s registration page.
  2. Choose a personal or business account.
    Enter your country, state and email address. Click Next.
  3. Enter estimates of your transferring needs.
    These amounts don’t have to be exact and can be changed later. Click Next.
  4. Enter your personal and contact information.
    Including your full name, date of birth, phone number, current residential address and occupation.
  5. Check your email for registration confirmation.
    OFX may require you to confirm your identity by uploading a scan of your photo ID. You should receive a decision by email within two business days.
  6. Add your recipient’s information.
    After verification, log in to your account to enter your recipient’s details. Click Recipients, then Add new recipient. Enter their full legal name, residential address and their banking information.
  7. Send your funds to OFX and verify your first transfer.
    A representative from OFX will call you to verify the details of your first transfer.

How do I track my OFX transfer?

You can track your transfer online by signing in to your account and selecting Deals and orders, or by downloading the OFX smartphone app.

OFX can also send you automated updates by email or text — select which you prefer under Your profile when you sign in to your account.

If you need help with a transfer at any step of the process, OFX customer support is available by phone any time, day or night.

Bottom line

OFX provides fast and secure transfers from the United States in 55 currencies. However, you’ll want to compare the features of a range of money transfer companies before deciding which is best for your specific needs.

Frequently asked questions


Our team analyzes money transfer providers offering services in the US — from big names to digital upstarts. We rank rates and fees, speed, services and user experience for:

  • TransferWise
  • XE
  • OFX
  • WorldRemit
  • Currencies Direct
  • Western Union
  • RIA Money Transfer
  • MoneyGram
  • Remitly
  • Payoneer
  • Remit2India
  • Xoom
  • PayPal

Learn the details of our methodology and scoring.

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  1. Default Gravatar
    November 7, 2018

    Hi I need to transfer from UK £ from a UK bank account to HK HSBC bank account in $US .. how long will this take, is it possible, how much is the cost

    • Avatarfinder Customer Care
      November 20, 2018

      Hi John,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Generally, if you are going to do an international bank to bank money transfer, it takes as much as 5 business days for your money to arrive in Hong Kong. It depends on the amount of money you send and how many people are doing transfers at a given period of time.

      When it comes to cost, it would depend on your bank. Cost may range from $0 to $30.

      It is worth noting that international money transfer service providers can do transfers as fast as 1 day. Not only that, but they cost less compared to a bank to bank transfer. If this is something that interests you, please check your options here.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  2. Default Gravatar
    March 25, 2018

    Does sending money requires US bank account?

    • Avatarfinder Customer Care
      March 26, 2018

      Hi Alvin,

      Thanks for your inquiry.

      When sending money through OFX, you’d need to go through bank account verification before you can send funds. If you are sending from the US, then yes, you’d need to have a US bank account.


  3. Default Gravatar
    February 20, 2017

    How do I pay money to you? How long does it take?

    • Avatarfinder Customer Care
      June 25, 2017

      Hi Sanghan,

      Thanks for your question.

      OFX accepts bank transfers from your account through. They don’t accept cash, credit card, checks or bank drafts as payment options.

      Transfers to most countries could take 1 to 2 days.


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