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Alternatives to OFX

Services like OFX for sending money overseas

OFX offers transfers and exchanges into 55 currencies. If you’re a larger business looking to pay for exports — or just need to transfer a larger sum to an account overseas — this service may be the right fit for you.

Pros

  • No transfer fees
  • 24-hour customer support
  • Available in 195 countries and territories and 55 currencies
  • Offers scheduled and recurring transfers
  • iOS and Android apps for mobile transfer and tracking
  • No maximum transfer limit

Cons

  • Bank-to-bank transfer only — no cash payment or pickup
  • Verify new accounts by phone
  • High minimum transfer amount of $1,000 per year
XE Money Transfer Logo
  1. XE Money Transfer

XE Money Transfer is a service designed to help you transfer your funds to a bank in a foreign currency — but it doesn’t allow same-currency transfers like OFX does. If you’re working far from home, XE is ideal for getting cash to your family or making investments overseas. Given how easy it is to transfer your money to foreign companies in their currency, it’s especially ideal for business accounts — it trades in over 120 currencies, far surpassing OFX’s 55.

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Why pick XE Money Transfer instead?

  • Low transfer fees
  • Trade in over 120 currencies, allowing for money transfers to over 200 countries
  • Competitive exchange rates save you money in the long run
  • Quick turnaround means transfer is complete in three to five days
  • No maximum transfer amount

Downsides

  • Bank-to-bank transfers only
  • No same-currency transfers
  • Exchange rate comparison tool not available until after you’ve registered with the site
wise logo
  1. Wise

Wise is a money transfer site designed to help you save money on exchanges through a peer-to-peer system. Its unique system allows you to exchange your funds with those of another seeking to convert their money to your currency. It’s basically trading money with another person, but it doesn’t cross borders. Because of its unique platform, Wise doesn’t allow for same-currency transfers like OFX does. Furthermore, while OFX has no transfer fees at all, Wise has a complex system to calculate fees, which start at $3 for transfers up to $300. Wise also has daily transfer limits of $49,999, while OFX has no maximum transfer limit.

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Why pick Wise instead?

  • $3 fee for transfers up to $300; a fee of 1% of the amount sent for transfers up to $5,000; a fee of 0.7% on any amount over the initial $5,000
  • Low minimum transfer amount of $1
  • High transfer limits — can send up to $49,999 a day and $199,999 a year
  • Apps for both iOS and Android
  • Uses mid-market exchange rate with no hidden fees

Downsides

  • Transfers to bank accounts — no cash pickup option
  • No same-currency transfers
  • Two-step process means you must first wire your money to Wise, which then deposits the money to your recipient’s bank account
  • Requires a Social Security number to send money
WorldRemit logo
  1. WorldRemit

WorldRemit provides a variety of transfer options in more than 140 countries — including online, bank-to-bank and cash transfers. Unlike OFX, which has no transfer fees or maximum transfer limit, WorldRemit has fees that vary by country and a maximum transfer amount of $5,000. However, OFX doesn’t allow for cash pickup or home delivery, while WorldRemit offers both of these options.

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Why pick WorldRemit instead?

  • Low minimum transfer amount of $1
  • Available in over 140 countries worldwide
  • Flexible payment options, including debit or credit card, bank transfer, Android Pay and ApplePay
  • Transfers to mobile wallet accounts
  • Cash pickup available
  • Home delivery available
  • Mobile airtime account transfers

Downsides

  • The higher your transfer, the greater the transfer fees
  • Low maximum transfer amount of $5,000
TorFX
  1. TorFX

Unlike OFX, which allows you to send money from anywhere in the US, TorFX only allows money transfers from Australia. It’s a strict money exchange and transfer company compared to others and requires that funds be cleared by individuals who hold TorFX accounts. This means that the money must be sent in advance before the transaction can be performed. Both TorFX and OFX only offer bank-to-bank transfers with no transfer fees in 60 and 55 currencies, respectively. But unlike OFX, which has a high minimum transfer of $1,000, TorFX allows for transfers as low as $150.

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Why pick TorFX instead?

  • Multiple transfer options, including spot contracts, forward contracts, limit orders and stop loss orders
  • No transfer fees
  • Competitive exchange rates with fixed exchange rate protection — often beating banks by more than 3%
  • Best rate guarantee
  • Offers transfers in 60 different currencies
  • Free registration allows you to get access to free market analysis and expert advice
  • Low minimum transfer amount of $150

Downsides

  • Can only send from Australia
  • Bank-to-bank transfers only
  • Users report technical and administrative problems that delay transfers
Currencies Direct logo
  1. Currencies Direct

Currencies Direct is an international money transfer service dedicated to helping its customers save more when transferring money internationally. With 60 currencies to choose from — and others that can be discussed with the company itself — it’s comparable in reach to the 55 currencies OFX allows transfers in. Like OFX, which offers no-fee bank-to-bank transfers, Currencies Direct offers no fees for 90% of its transactions. However, while OFX has a high minimum transfer amount of $1,000, Currencies Direct allows for transfers as low as $100. Both companies have no maximum transfer limit, making them ideal for high-dollar transfers.

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Why pick Currencies Direct instead?

  • No fees for 90% of its transactions
  • Supports 60 market currencies
  • Competitive exchange rates
  • Low minimum transfer of $100
  • Supports large transactions at a seemingly unlimited max
  • Monitors exchange rates for your ideal transfer

Downsides

  • No cash pickup option — bank-to-bank transfers only
Moneygram logo
  1. MoneyGram

The second-largest international money transfer service in the world, MoneyGram is a big contender. It services transfer and exchange currencies in over 200 countries and territories to more than 350,000 agent locations worldwide. Unlike OFX, which only allows for bank-to-bank transfers, MoneyGram offers a large pool of services for sending and receiving funds, including home delivery and cash pickup options. With its low minimum transfer amount of $1 and maximum online transfer amount of $6,000, MoneyGram is better suited for smaller money transfers. OFX, on the other hand, can handle larger transfers with its $1,000 minimum transfer amount and unlimited maximum amount.

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Why pick MoneyGram instead?

  • Extensive global network of 350,000 agent locations in over 200 countries and territories
  • Large pool of services available for sending, receiving or financing
  • Fast transfers, with same-day service in many locations
  • Home delivery and cash pickup options
  • Low minimum transfer amount of $1

Downsides

  • Maximum online transfer amount of $6,000
  • Fees vary depending on payment type and transfer destination
  • Transfers must be made in US dollars from the US (no exchanges before transfer)
  • Local exchange rates vary by transfer destination
Sharemoney logo
  1. Sharemoney

Sharemoney is a part of the Omnex group, a company that’s specialized in money transfers for over 25 years. While OFX can transfer funds from anywhere in the US, Sharemoney is limited to 36 US states and can only transfer money to 21 countries — a far cry from OFX’s 195 countries. While OFX only offers bank-to-bank transfers and has no fees, Sharemoney allows for cash transfers and even door-to-door delivery, but with transfer fees. Sharemoney has low minimum and maximum daily transfer limits — $20 to $2,999.99 — while OFX requires you to transfer at least $1,000 with an unlimited maximum.

Why pick Sharemoney instead?

  • Low transfer fees starting at $2.99
  • Low minimum transfer amount of $20
  • Exchange rate calculator helps you see how much money you’ll get for your dollar, with rates updated hourly
  • Fast and easy service, with cash and bank transfers taking as little as 15 minutes to 24 hours
  • Door-to-door delivery as quick as 48 hours
  • Discounts available on Facebook

Downsides

  • Sharemoney is only licensed to operate in 36 states
  • Only offers one-off transfers
  • Exact location must be specified for cash pickup
  • Can only transfer money to 21 countries, which are largely limited to South America and select Asian countries
  • Daily transfer limits of $2,999.99 every 15 days, and $9,999.99 every six months

Still looking for other options?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Alternatively, learn more about OFX in our review.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Instarem
Within an hour
$1

View details
Exclusive: Use code GET60 and save $30 on each transaction over $200. Valid for the first two transactions and till 31st July 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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