OFX vs. World First: Who has cheaper, faster transfers? | finder.com
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OFX vs. World First

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With newer options for sending money overseas, don’t pay high fees or settle for weak exchange rates.

Today you can choose among banks, money transfer services and international specialists when sending money across international borders. Yet newer companies like OFX and World First offer competitive delivery speeds, exchange rates and transfer fees when compared to some of the better-known names in the business.

ofxWorldfirst sites like
OFXWorld First
Fees$0 fees on minimum transfers of $1,000$10 fee for transfers under $10,000
$0 more than $10,000
Exchange rates0.4% above the mid-market rateSometimes less than 1% above the mid-market rate
Speed2–4 business days1–4 business days
Max Transfer AmountNo limitNo limit

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OFX and World First: How they work

Both OFX and World First will send money to anywhere around the globe through a simple online process.

To use either OFX or World First, you’ll need to create a free account. It’s easy to set one up as part of your first transfer. Once you’ve created an account, you then enter how much money you’re transferring and send the funds to the provider. The provider then converts your currency and sends it to your recipient, who can then collect it through a bank deposit.

Who offers lower fees?


With OFX, you’ll pay nothing on all transfers.

World First

A transfer of under $10,000 with World First will cost you $10, while transfers of more than $10,000 are free. World First offers further discounted fees for business transfers.

  • Winner: OFX

While OFX and World First both offer highly competitive transfer fees, OFX edges out World First with no transfer fees on all qualifying transfers.

Who offers better exchange rates?


A typical exchange rate at OFX is about 0.4% above the mid-market rate — a competitive rate any way you look at it.

Let’s use the example of USD to EUR:

  • If the mid-market rate is 1 USD = 0.945 EUR
  • OFX’s exchange rate could be 1 USD = 0.941 EUR

World First

World First also offers great exchange rates — sometimes less than 1% above the mid-market rate.

Using the same example of a transfer to euros (EUR):

  • If the mid-market rate is 1 USD = 0.945 EUR
  • World First’s exchange rate might be 1 USD = 0.943
  • Winner: It’s a tie

Both OFX and World First offer strong exchange rates, especially compared with your other options for international transfers.

Who’s faster?


To transfer your money to OFX, it takes one to two business days. It takes another one to two days to send that money from OFX to your recipient. So you’re looking at least two business days to complete a transaction from send to receipt.

World First

Your quickest option is a same-day transfer. However, World First advises allowing four days for a US payment to clear.

  • Winner: World First

While your average bank-to-bank transfer will take about the same time with both services, World First does offer the ability to deliver your money within a day (at higher costs).

Who offers more options?

Payment methodsMinimum and maximum transfersDelivery methodsTransfer speedsCountries and currencies
OFXElectronic funds transfer (EFT)$1,000 minimum; no maximumBank transfer2–4 business days190+ countries (exclusions include Afghanistan, Cuba, Iran, Iraq, North Korea, Libya and Syria)
World FirstBank account$1,000 minimum; no maximumBank transfer1–4 business days20+ currencies

Case study: $3,000 to Germany

Johanna needs to send $3,000 to her niece, Alexa, in Frankfurt, where Alexa has recently bought a home. Here is what a bank-to-bank transfer might look like using OFX and World First.

OFXWorld First
Transfer fee$0$10
Exchange rate1 USD = 0.941 EUR1 USD = 0.943 EUR
Transfer speed2 days4 days
Total received2,822 EUR2,834 EUR

Both OFX and World First offer standout exchange rates and low transfer fees. There are slight advantages to each, depending on your needs. But overall, it’s likely a wash: With OFX Johanna could save $10 on transfer fees — about how much more in euros her niece would receive with World First’s exchange rates.

Bottom line

OFX and World First offer more competitive exchange rates, lower transfer fees and faster delivery speeds than you’ll find with the typical money transfer provider.

However, while you’ll save both time and money with either of these options, you’ll want to compare your options to find a service that’s right for your situation.

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2 Responses

  1. Default Gravatar
    GaryJune 22, 2017

    What happens if the wire transfer those not go through or gets lost is there anyway of getting your money back?

    • Staff
      HaroldJune 22, 2017Staff

      Hi Gary,

      Thank you for your inquiry.

      For your protection, when processed through a reputable bank or company, your funds are safely tracked until in the hands of your recipient. And if you’re sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees up front and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.

      I hope this information has helped.


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