Xe vs OFX money transfers
Which company offers the fastest and most affordable international money transfers?
Key takeaways
- For transfers over $2000 OFX often offers better exchange rates resulting in more money for the recipient.
- Xe typically offers lower transfer fees for amounts under $500 making it suitable for smaller transactions.
- Xe supports over 100 currencies with a $1 minimum transfer while OFX offers a $250 minimum but no maximum limit.
The worked examples and exchange rates in this comparison were last checked on 21 September 2026 and are illustrative only. Fees and exchange rates move, so get a live quote from both providers before you send.
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Which has lower fees?
Xe
Xe doesn't publish a single fixed transfer fee: the fee varies by payment method, currency and destination country, and is shown before you confirm. Xe has no set minimum transfer amount.
OFX
OFX charges a fee of $15 for transfers under $10,000; there's no transfer fee above $10,000. OFX's minimum transfer amount is $250.
Winner: OFX
OFX's fee structure is straightforward and fixed, so you know exactly what you'll pay upfront. Xe's fee isn't published as a flat number, which makes it harder to compare directly. You'll need to check the fee Xe quotes at checkout for your specific amount and payment method. For transfers of $10,000 or more, neither provider charges a transfer fee, so the exchange rate, not the fee, is what decides which is cheaper.
Let's crunch the numbers: Sending $5,000 and $15,000 to the UK
To get a better idea of how Xe and OFX compare in an everyday scenario, let's take a look at the example of transferring $5,000 and $15,000 from Australia to the UK.
Sending $5,000 to the UK
| Xe | OFX | |
|---|---|---|
| Transfer fee | $0 | $15 |
| Exchange rate | $1 = £0.5247 | $1 = £0.523 |
| Transfer speed | 1-2 business days | 1-2 business days |
| Total pounds received | £2,623.50 | £2,615.00 |
| Receiver gets | £8.50 more | £8.50 less |
Based on current rates, and applying OFX's $15 fee for transfers under $10,000, Xe actually comes out ahead, with the receiver getting £8.50 more, and because Xe doesn't charge a transfer fee, the sender also avoids paying an extra $15 on top of the $5,000.
Sending $15,000 to the UK
| Xe | OFX | |
|---|---|---|
| Transfer fee | $0 | $0 |
| Exchange rate | $1 = £0.5247 | $1 = £0.5248 |
| Transfer speed | 1-2 business days | 1-2 business days |
| Total pounds received | £7,870.50 | £7,872.00 |
| Receiver gets | £1.50 less | £1.50 more |
Neither provider charges a fee at this amount, so it comes down entirely to the exchange rate — and at this size of transfer, the two are now virtually tied. OFX edges ahead by just £1.50, a gap so small it can flip either way depending on the moment you send.
Which offers better exchange rates?
Xe
When you convert AUD into another currency, Xe adds a margin on top of the mid-market rate. The size of this margin varies depending on the currency you want to transfer, but it's typically in the 0.4-3% range. For example, here is the exchange rate if you want to send a transfer to the United States:
- If the mid-market rate is $1 = 0.7232 (RBA, 9 September 2026)
- Xe's rate might be $1 = $0.7169
This is a margin of 0.87% added to the mid-market exchange rate.
OFX
OFX also adds a margin on top of the mid-market rate when exchanging your AUD. This margin varies between currencies but generally ranges anywhere between 0.50% and 3%. Using the same AUD to USD example:
- If the mid-market rate is $1 = $0.7232 (RBA, 9 September 2026)
- OFX's rate might be $1 = $0.7196
This works out to be a margin of 0.50%.
Winner: OFX
We found that OFX generally offered better exchange rates than Xe, which means that more of the money you transfer arrives in your recipient's bank account.
Which is faster?
Xe
Xe lists a fastest transfer speed of within minutes, though some transfers take one to two days and certain currencies can take up to four days.
OFX
OFX lists a fastest transfer speed of 24 hours after it receives your funds. Transfers in less popular currencies can take three to five working days.
Winner: Xe
Xe's claimed transfer times are slightly faster than those of OFX.
General features
| Payment methods | Receiving options | Maximum and minimum transfers | Transfer speeds | Currencies | |
|---|---|---|---|---|---|
| Xe |
|
| Minimum: $1 Maximum: $750,000 online (no max offline) | Within minutes | 100+ currencies |
| OFX |
|
| Minimum: $250 Maximum: Unlimited | 24 hours | 50+ currencies |
Xe
You'll need to sign up for an online account before making a transfer, then enter the full details of your transaction and review the exchange rate available. Xe will also send you an email/SMS notification when the funds have been arrived in your recipient's account.
OFX
To send a transfer, you'll need to create an account and then enter the amount and currency you want to send. Review the cost of your transfer and submit the transaction. OFX also offers a smartphone app if you want to send funds directly from your phone.
Verdict
Both providers have a strong reputation in the money transfer space but OFX just edges it. OFX is cheaper than XE for transfers above $2,000 as they offer better exchange rates on key currency pairs. Despite this XE has a wider range selection of currencies and is available in more countries.
Ultimately, make sure you compare several transfer services to get the best value for your money.
Looking for more options?
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
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Compare other products
We currently don't have that product, but here are others to consider:
How we picked theseFinder Score for money transfer
We review money transfer providers for different features to assign them a score out of 10. The higher the score, the more competitive the product.
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