OFX reviewed: A better, fairer way to move money

Need to send money to a friend in the United States? Or perhaps a family member abroad? Money transfer providers make it easier, cheaper and faster than ever before.

Over more than 20 years, OFX has empowered more than 1 million customers to transfer more than 50+ currencies to 170 countries. This review takes a look at OFX to help you decide if OFX is the best money transfer service for you.

Save 50% on major currency transfers

Move your money globally with OFX

Who is OFX?

OFX grew from the idea that there had to be a better, fairer way to move money around the world.

That was over 20 years ago, and since then, over 1 million customers have trusted OFX with transfers in 50+ currencies to 170 countries.

They don’t just offer great rates. OFX believes real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.

When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners.

So, whether you’re sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. 

Fast, simple, secure.

How does OFX work?

OFX works as an online money transfer provider with services to more than 170 countries both through its website, mobile app, or by speaking with an OFXpert. They offer great rates  and there is no maximum transfer amount.

Start your registration online. OFX will ask for some personal or business information such as your contact details, ID, business registration number and industry.

Verification helps keep the OFX platform safe, so they’ll check your details to ensure everything matches up. One of their OFXperts may call to find out more about your payment and/or receivables needs.

Finally, they will let you know when your account is ready.

To make a transfer, you’ll need to log in to your OFX account where you can agree a rate of exchange and enter your recipients detailed. Keep track of your transfer online, in the app, or by speaking to an OFXpert.

Sending money with OFX

Many people use OFX to avoid the exchange and transaction fees that could be charged bu a bank. To send money with OFX you must register, create your OFX login, get verified and log in. Once your account is created you enter your recipient's bank account details, agree to a rate of exchange and send the funds.

Receiving money with OFX

It is also possible to receive money from overseas via OFX in some instances. You’ll need to speak to an OFXpert to set this up.

Ready to get started transferring money abroad? It’s easy with OFX.

Save 50% on major currency transfers

Move your money globally with OFX

What services does OFX offer?

OFX provides secure online money transfer services. This includes sending or receiving money in over 170 countries with 50 different currencies provided. They offer competitive exchange rates. 

Customers can also access OFX historical exchange rates to see how currencies have performed.

How long does OFX take to transfer funds?

OFX money transfers will take 1-2 days for most major currency transfers. Lesser used currencies may take up to 3-5 days. OFX money transfers will take 1-2 days for most major currency transfers and 3-5 days for exotic currencies.OFX money transfers will take 1-2 days for most major currency transfers. Lesser used currencies may take up to 3-5 days. 

Is OFX safe?

OFX takes security seriously. Here’s what you need to know.

  • There's safety in numbers: OFX has 20+ years of global FX experience. Millions of successful transfers. All monitored by over 50 regulators globally.
  •  OFXpert help 24/7: When it comes to your money, real help counts. If you have questions, you can speak to an OFXpert anytime. 
  • Strong financial performance:OFX’s parent company is listed on the Australian Securities Exchange. You can review its investor report yourself.
  • Fraud prevention: OFX invests in security and fraud prevention technology so that you trust it to move your money. Count on advanced global transaction monitoring. 
  • Carefully selected banking partners: Moving money can be stressful. That’s why OFX carefully selects its global banking partners so it can move your money from A to B quickly.
  • Track your transfers:Have peace of mind, and track your global transfers easily, online, or with the OFX app. It's simple.

Our OFX review

OFX is one of the best and largest international exchange companies. They provide service to over 170 countries in 50+ different currencies making international payments both secure and convenient. They are trusted by over 50 regulators globally. They provide services for both individuals, online sellers and larger international corporations. They have 24-hour customer support by phone, online or through the OFX app. 

OFX Pros and Cons

OFX is a great choice for international money transfers. Here are some pros and cons to know about:


  • Ease of access through the website and mobile app
  • Competitive rates and fees on currency exchanges and money transactions
  • Offering various services based on account type
  • 24/7 customer support provided


  • Minimum transfer amounts
  • Do not accept credit cards
  • Transaction fees may apply in some regions 

Save 50% on major currency transfers

Move your money globally with OFX

Where can I log into my OFX account?

OFX accounts can be accessed directly through their website or via mobile app. There are both Android and Apple iOS versions of the OFX Money Transfer app. To access your account you will need a Username and Password that you will create when signing up.

How can I contact OFX?

There are multiple ways to contact OFX customer service. They have 24/7 phone numbers based on what country you are calling from and whether it is a personal or business call.. You can also email them at any time at [email protected]. OFX also has eight offices around the world including Toronto, London, Dublin, Sydney, San Francisco, Hong Kong, and Singapore. 

OFX Toronto Office Contact Information

Suite 1002 145 King Street Toronto, ON M5H1J8, Canada

  • Personal: +1-800-680-0750 
  • Business: +1-800-680-0745
  • Fax: +1-416-649-8580

For the full list of contact numbers and customer support options see here

How much does OFX cost?

OFXs account and apps are free to create and use. The rate an OFX customer receives is the rate of exchange used to move money from one currency to another and it includes a margin. 

OFX has zero hidden fees so customers know exactly how much transactions will cost and how much the recipients will receive. 

OFX fees:

OFX’s Customer Rate is the current market rate plus a margin charged by OFX. The market rate, also known as the “interbank rate” or the “mid-market rate,” is the exchange rate used by large financial institutions such as banks. Generally, it isn’t available to consumers although it is used to benchmark the value of currency globally. 

Each OFX customer may get a different rate depending on the market rate, the amount you need to send, how often, and the currency you need. To see your OFX customer rate, log in to your account or talk to an OFXpert. If you don’t have an account yet, sign up here.

OFX transfer feeThere is a $15 transfer fee on transactions under $10,000. For transactions over that amount, there is no fee.
Exchange rate feeSee OFX site.
Minimum transfer amountOFX has a minimum amount but these amounts vary by currency and type of transaction
$15 OFX fee for FX transfers under CAD $10,000 and a similar fee applies to transfers of other currencies.* There are no other fees charged by OFX.*
There are no other fees charged by OFX.*
There are no other fees charged by OFX.*
OFX transaction fees
AustraliaNew ZealandHong KongSingapore
$15 OFX fee for FX transfers under AUD$10,000 and a similar fee applies to transfers of other currencies.*$12 OFX fee for FX transfers under NZD$10,000 and a similar fee applies to transfers of other currencies.*$60 OFX fee for FX transfers under HKD$50,000 and a similar fee applies to transfers of other currencies.*There are no other fees charged by OFX*
OFX transaction fees continued

*Occasionally third-party intermediary banks may deduct a fee from your transfer before paying your recipient. This fee may vary, and OFX receives no portion of it.

Save 50% on major currency transfers

Move your money globally with OFX

Does OFX have an app?

OFX Money Transfer has both an Android and iPhone app. Both versions have 24/7 support to help users make money transfers on the go as well as access their accounts no matter when or where they are. 

Please use the link below to access the app stores:

OFX app for iPhone

What currencies does OFX support?

OFX supports 50+ different currencies both standard and exotic. Transaction times and exchange rates may vary based on currency. The below list of currencies is a live list and it is changing (more are contantly added):

  • Australian Dollar (AUD) 
  • British Pound (GBP) 
  • Canadian Dollar (CAD) 
  • Chinese Yuan Renminbi - Offshore (CNH) 
  • Danish Kroner (DKK) 
  • Euro (EUR) 
  • Hong Kong Dollar (HKD) 
  • Japanese Yen (JPY) - Offshore 
  • Mexican Peso (MXN)
  • New Zealand Dollar (NZD)
  • Norwegian Kroner (NOK) 
  • Polish Zloty (PLN) 
  • Singapore Dollar (SGD) 
  • South African Rand (ZAR) - Offshore 
  • Swedish Krona (SEK) 
  • Swiss Franc (CHF) - Offshore 
  • United Arab Emirates Dirham (AED) - Offshore 
  • US Dollar (USD)

One-way currencies - OFX only sells these currencies to clients

  • Azerbaijani Minat (AZN) 
  • Brunei Dollar (BND) 
  • Bulgarian Lev (BGN) 
  • Chinese Yuan (CNY) 
  • CFA Franc (XOF) 
  • Czech Koruna (CZK) 
  • Egyptian Pound (EGP) 
  • Fijian Dollar (FJD) 
  • Hungarian Forint (HUF) 
  • Indian Rupee (INR) 
  • Indonesian Rupiah (IDR) 
  • Israeli New Shekel (ILS) 
  • Kuwaiti Dinar (KWD) 
  • Malagasy Ariary (MGA) 
  • Malaysian Ringgit (MYR) 
  • Moroccan Dirham (MAD) 
  • Omani Rial (OMR) 
  • Pacific Franc (XPF)
  • Pakistani Rupee (PKR) 
  • Papua New Guinea Kina (PGK) 
  • Peruvian Nuevo Sol (PEN) 
  • Philippine Peso (PHP) 
  • Samoan Tala (WST) 
  • Saudi Arabian Riyal (SAR) 
  • Seychelles Rupee (SCR) 
  • Solomon Islands Dollar (SBD) 
  • South Korean Won (KRW) 
  • Sri Lankan Rupee (LKR) 
  • Taiwanese Dollar (TWD) 
  • Tanzanian Shilling (TZS) 
  • Thai Baht (THB)
  • Tongan Pa’anga (TOP) 
  • Turkish Lira (TRY) 
  • Vanuatu Vatu (VUV) 
  • Vietnamese Dong (VND) 

Save 50% on major currency transfers

Move your money globally with OFX

How does OFX stand up to its competitors?

OFX is a great money transfer provider, but not every provider is right for everyone.

You can compare it and its competitors below:

Compare the top 10 money transfer platforms

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