OFX vs WorldFirst

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

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Newer companies like OFX and WorldFirst offer competitive delivery speeds, exchange rates and transfer fees when compared to some of the better-known names in the business, but how do they compare to each other?

The fees and rates used in this comparison are accurate as of 28 February 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 - 2 days AUD 0.00 0.673 USD
6,728
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.673 USD
6,729
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Which has lower fees?

OFX

OFX charges a $15 fee for transfers under $10,000 and no fees for transfers over that amount.

WorldFirst

WorldFirst doesn't charge any fees for money transfers.

Trophy icon
Winner: WorldFirst

WorldFirst wins because you can't get lower fees than $0.

Let's crunch the numbers: Sending $2,000 and $10,000 to Hong Kong

The following table shows how much it might cost to send money from Australia to Hong Kong with each provider. Keep in mind that for other currencies, the margin added to the exchange rate might be different.

Sending $2,000 to Hong Kong
OFX WorldFirst
Transfer fee $15 $0
Exchange rate 1 AUD = 5.4737 HKD 1 AUD = 5.5564 HKD
Transfer speed 2-4 business days 1-4 business days
Total dollars received HKD$10,865 HKD$11,113
Receiver gets HKD$247 less HKD$247 more
Sending $10,000 to Hong Kong
OFX WorldFirst
Transfer fee $0 $0
Exchange rate 1 AUD = 5.4737 HKD 1 AUD = 5.5564 HKD
Transfer speed 2-4 business days 1-4 business days
Total dollars received HKD$54,737 HKD$55,564
Receiver gets HKD$872 less HKD$872 more

Both transfers to HKD end up getting you more with WorldFirst, which not only has better exchange rates, but lower fees.

Which offers better exchange rates?

OFX

A typical exchange rate at OFX is about 1% to 6% above the mid-market rate. As an example, let's look at AUD/EUR:

  • If the mid-market rate is 1 AUD = 0.6331 EUR
  • OFX's exchange rate could be 1 AUD = 0.6236 EUR

This ends up at a margin of 1.5%.

WorldFirst

WorldFirst tends to offer less of a margin – usually less than 1% – meaning it's a better exchange rate. For example, for AUD/EUR:

  • If the mid-market rate is 1 AUD = 0.6331 EUR
  • World First's exchange rate might be 1 AUD = 0.6298 EUR

This makes it a margin of 0.52%.

Trophy icon
Winner: WorldFirst

WorldFirst tends to offer a smaller margin on its exchange rates across the board.

Which is faster?

OFX

To transfer your money to OFX, it takes 1-2 business days. It then takes another 1-2 days to send that money from OFX to your recipient. So you're looking at at least two business days to complete a transaction from send to finish.

WorldFirst

If you're sending money to GBP, USD or EUR, WorldFirst will make a same-day payment once it receives your money, though it may take up to one business day for your account to be credited.

For all other currencies, it takes 1-4 days for the money to reach your recipient.

Trophy icon
Winner: Tie

This one is too close to call. While WorldFirst will get your payment there quicker if it's one of the three most popular currencies, all other currencies will take about the same time that OFX does.

General features

Payment methods Receiving options Mimimum and maximim transfer amounts Transfer speeds Currencies
OFX Electronic funds transfer (EFT) Bank account Minimum: $250

Maximum: No limit

1 - 2 days 50+ currencies
WorldFirst Bank account Bank account Minimum: $2,000

Maximum: No limit

1 day 60+ currencies
Both OFX and WorldFirst will send money to anywhere around the globe through a simple online process.

To use either OFX or WorldFirst, you'll need to create a free account to make a transfer or see the exchange rates on offer. Once you've created an account, you can then enter how much money you're transferring and send your 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.

Bottom line

OFX and WorldFirst offer more competitive exchange rates, lower transfer fees and faster delivery speeds than you'll find with a typical bank.

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.

Looking for more options?

Use the calculator below to explore more options for your next international money transfer, and see if you can hunt down an even better deal.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 3,000 1 day AUD 0.00 0.673 USD
6,731
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.673 USD
6,729
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 day AUD 0.00 0.673 USD
6,728
Sign up through Finder and get a $50 Myer gift card when you send $10,000 or more. T&Cs apply.
SendFX guarantees to match any competitor's exchange rate. Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.673 USD
6,728
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 200 1 day AUD 0.00 0.672 USD
6,724
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.676 USD
6,723
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
Go to site Show details
AUD 1 1 day AUD 0.00 0.669 USD
6,691
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.669 USD
6,689
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.668 USD
6,674
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 200 1 day AUD 0.00 0.67 USD
6,704
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

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Important Information*
Logo for Global Reach (formerly FC Exchange) International Money Transfers
Global Reach (formerly FC Exchange) International Money Transfers

Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

Sign up through Finder and get a $50 Myer gift card when you send $10,000 or more. T&Cs apply.
SendFX guarantees to match any competitor's exchange rate. Fee-free transfers in 30+ currencies to over 200 countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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