OFX – A review of the international money transfer provider

Take advantage of flexible transfer options and fee-free transactions when you send money overseas with OFX.

OFX (formerly UKforex) is a specialist provider of online international money transfers, and the largest Australian-owned money transfer service in the world. The OFX UK branch was known as UKForex, but all subsidiaries are now coalescing under the global brand name.

In business for almost 20 years, OFX offers competitive exchange rates to customers in 55 currencies. With more than 100,000 customers across six continents, OFX has handled over £50 billion in foreign exchange transactions. Read our review of their services below.

Product NameOFX International Money Transfer
Min. Transfer AmountGBP 2,500
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Email
Available CurrenciesAED, AUD, AZN, BGN, BHD, BND, 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, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR
Online Transfer FeeGBP 0
Branch Transfer FeeGBP 0
Phone Transfer FeeGBP 0
Exchange Rate UpdatesReal time

Exclusive offer

Because OFX is a trusted partner of finder.com, you can get special, better exchange rates on qualifying transfers through our site. This means more money in your recipient’s pocket. Special rates are applied and will be shown when you are shown the transactional rates.

Get to know OFX

Send your money with Azimo

  • Make the first THREE transfers for free using code AZ-FIND
  • Send money to bank accounts, phones or cash pick-up locations
  • Most transfers take less than a day
  • Send money to 195 countries in 60 different currencies
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OFX exchange rates

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

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,500 1 day GBP 0.00 1.114 EUR
5,568
With 17 years of foreign exchange expertise, OFX know the money transfers business very well, offering facilities for one-off and recurring transfers. Go to site Show details

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How much does OFX cost?

OFX dominates with its revolutionary transfer fee cost: nothing at all. There may be a fee with a third-party bank, but none of that money goes to OFX.

Pros

  • Currency support. Supporting 55 major and exotic currencies, you can send funds to a large selection of countries worldwide.
  • No transaction fees. With OFX you don’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.

What types of transfers can you carry out with OFX?

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

  • Limit orders. Choose your desired exchange rate and when that rate becomes available, OFX will automatically place your transfer.
  • Forward contracts. Lock in an attractive exchange rate now for a future transaction.
  • Recurring transfers. Avoid entering the details of your transfer every week or month by scheduling regular transfers.

The registration and transfer process with OFX

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

    • Your identification details.
    • Your country of origin and nationality.
    • Your occupation.
    • Your transfer details: how much you’re sending and to where.
    • Whether you’re opening a personal or business account.

Once approved, you enter the details of your transfer, review the exchange rate and fee and send your funds. After that, the transfer will take up to two days to be completed.

What currencies can be exchanged on OFX?

OFX currently supports the following currencies:

LocationCurrency NameCode
AustraliaAustralian DollarAUD
AzerbaijanAzerbaijani MinatAZN
BahrainBahraini DinarBND
BruneiBrunei DollarBND
BulgariaBulgarian LevBGN
CanadaCanadian DollarCAD
West AfricaCFA FrancXOF
French Overseas CollectivitiesCFP FrancXPF
ChinaChinese Yuan RenminbiCNY
Czech RepublicCzech KorunaCZK
DenmarkDanish KronerDKK
EgyptEgyptian PoundEGP
European UnionEuroEUR
FijiFiji DollarFJD
Hong KongHong Kong DollarHKD
HungaryHungarian ForintHUF
IndiaIndian RupeesIND
IndonesiaIndonesian RupiahIDR
IsraelIsraeli ShekelILS
JapanJapanese YenJPY
KuwaitKuwaiti DinarKWD
MadagascarMalagasy AriaryMGA
MalaysiaMalaysian RinggitMYR
MexicoMexican PesoMXN
MoroccoMoroccan DirhamMAD
New ZealandNew Zealand DollarNZD
NorwayNorwegian KronerNOK
OmanOmani RialOMR
PakistanPakistan RupeePKR
Papua New GuineaPapua New Guinea KinaPGK
PeruPeruvian Nuevo SolPEN
PhilippinesPhilippine PesoPHP
PolandPolish ZłotyPLN
United KingdomPound SterlingGBP
RussiaRussian RubleRUB
SamoaSamoan TalarWST
Saudi ArabiaSaudi RiyalSAR
SeychellesSeychelles RupeeSCR
SingaporeSingapore DollarSGD
Solomon IslandsSolomon Island DollarSBD
South AfricaSouth African RandZAR
South KoreaSouth Korean WonKRW
Sri LankaSri Lankan RupeeLKR
SwedenSwedish KronerSEK
SwitzerlandSwiss FrancCHF
TaiwanTaiwanese DollarTWD
TanzaniaTanzanian ShillingTZN
ThailandThai BahtTHB
TongaTongan Pa’angaTOP
TurkeyTurkish LiraTRY
United Arab EmiratesUnited Arab Emirates DirhamAED
United States of AmericaUS DollarUSD
Vanuatu VatuVanuatu VatuVUV
VenezuelaVenezuelan Bolivar FuerteVEF
VietnamVietnamese DongVND
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