OFX international money transfers review July 2018 | finder.com

Review: OFX international money transfers

We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.

Send your money overseas with OFX and you’ll get a competitive rate and no fees.

finder.com’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

Pay no fee for your international money transfer with OFX and get competitive exchange rates. You’ll also find flexible transfer options, including one-off money transfers, recurring transfers, forward exchange contracts and target rate orders.

Product NameOFX International Money Transfers
Min. Transfer AmountUSD 1,000
Max. Transfer AmountNo limit
Transfer Methods
Online, Phone,
Transfer Options
Regular payments, One off payments, Market orders, Forward contracts, ...
Transfer Speed
Minimum transfer time
1 day
Banking PartnerOFX - US
Customer Service
Phone, Email
Available CurrenciesAED, AUD, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR
Online Transfer Fee$0
Branch Transfer Fee$0
Phone Transfer Fee$0
Exchange Rate UpdatesReal time

Pros

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

Cons

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

Take advantage of flexible transfer options and fee-free transactions when sending money overseas

In business for more than 15 years, OFX is a specialist money provider that offers competitive exchange rates and international money transfers in 55 currencies. With more than 100,000 customers across six continents, OFX has handled more than $100 billion in forex transactions.

OFX dominates with its revolutionary transfer fee cost: nothing at all. And because OFX is a trusted partner of finder.com, you can take advantage of special exchange rates set aside exclusively for finder readers.

If you’re looking for flexible tools that can help you lock in favorable rates for future transfers, OFX allows for limit orders, forward contracts and the ability to schedule recurring payments.

Highlights

  • Flexible transfer options. From basic transfers to forward contracts and limit orders, OFX offers a wealth of options to help you get the most out of your money.
  • Saving money. Keep more of your money with no fees and favorable exchange rates.
  • Wide range of currencies. Supporting 55 major and exotic currencies, OFX lets you send funds to many countries worldwide.
  • Large transfers transfers. You must send a minimum of $1,000 and there is no maximum.

How much does it cost for personal transfers with OFX?

Absolutely 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.

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

Calculate exchange rates with OFX

Exchange rates change by the minute, so the exchange rate reflected on OFX’s website and when you actually make your transfer may be different than what you see here.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 0.843 EUR 4,215 Exclusive exchange rate discounts
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details

Compare up to 4 providers

What types of personal transfers can I make with OFX?

The minimum amount you can send overseas with OFX is $1,000. There’s no limit as to how much you can send.

OFX is a solid option for immediate, one-off transfer overseas. But it also offers a selection of other transfer options:

If you need help with a transfer at any step of the process, OFX phone customer support is available 24/7 weekdays.

Pros and cons of using OFX for personal transfers

Pros

  • Currency support. Supporting 55 major and exotic currencies, you can send funds to a large selection of countries worldwide.
  • No fees. With OFX, you won’t pay any transfer fees.
  • Flexible options. From placing forward contracts to scheduling regular transfers, there’s a range of options to suit your needs.

Cons

  • No cash payment or pickup. OFX delivers funds through bank deposit only.
  • Required phone verification for new accounts. You can sign up for a free account online, but you’ll need be ready to accept a call from an OFX representative to verify your account details before you can begin sending money worldwide.
  • High minimum transfer amount. You must transfer at least $1,000 to use OFX’s services.

How to send a personal transfer with OFX

Before you can send money overseas with OFX, you’ll need to sign up for a free account with:

  • Your name, address and phone number.
  • Your country of origin and nationality.
  • Your driver’s license details.
  • Your occupation.
  • Your transfer details — how much you’re sending and to where.
  • Choose personal or business account.

OFX requires phone verification for all new accounts. Be ready to accept a call from an OFX representative to verify your account details before you can begin sending money worldwide.

Once approved, enter the details of your transfer, review the exchange rate and fee and send your funds. OFX processes bank transfers only.

OFX offers many ways to track your transfer. Log in to your OFX profile and click Your Preferences to receive an email or a text message to be updated at every step until receipt.

If you have questions or concerns about the status of your transfer, contact OFX’s office toll-free at 1-888-288-7354 for personal accounts or 1-888-966-6888 for business accounts.

Steps to transferring money internationally with OFX

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 about OFX personal transfers

Methodology

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
  • World First
  • HiFX
  • OFX
  • WorldRemit
  • Currencies Direct
  • Western Union
  • RIA Money Transfer
  • MoneyGram
  • Remitly
  • Payoneer
  • Remit2India
  • Xoom
  • PayPal

Learn the details of our methodology and scoring.

Back to top

Kelly Waggoner

Kelly Waggoner is a senior editor with finder.com. She's worked with publishers, magazines and nonprofits throughout New York City, including ghostwriting a how-to on copyediting for the Dummies series. Between projects, she toys with words, flips through style guides and fantasizes about the serial comma's world domination.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

4 Responses

  1. Default Gravatar
    AlvinMarch 25, 2018

    Does sending money requires US bank account?

    • finder Customer Care
      MayMarch 26, 2018Staff

      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.

      Best,
      May

  2. Default Gravatar
    SanghanFebruary 20, 2017

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

    • finder Customer Care
      AnndyJune 25, 2017Staff

      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.

      Cheers,
      Anndy

Go to site