OFX international money transfers review April 2021 | Finder

Review: OFX international money transfers – April 2021

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Australia’s own OFX provides competitive exchange rates and low fees when you send money abroad.

  • Good for large transfers, and it has products specifically designed for personal or business use.
  • Not so great if you need to pay with card or cash, or if your recipient doesn't have a bank account.

AUD 250

Min. Transfer Amount

No limit

Max. Transfer Amount

1 - 2 days

Transfer Speed

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Product NameOFX (Ozforex) International Money Transfers
Min. Transfer AmountAUD 250
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Email
Exchange Rate UpdatesReal time
Online Transfer FeeAUD 0
Phone Transfer FeeAUD 15


  • No fees on larger transfers
  • Forex tools available
  • No maximum sending limit
  • Can use for personal use, as well as business or for online sellers


  • Can only pay through your bank account
  • No cash pick-up
  • Must have an account with OFX to get a quote

Why should I consider OFX?

  • Wide range of currencies. OFX supports over 55 currencies, including many exotic ones.
  • No fees. There are never any transfer fees when sending an OFX money transfer.
  • Flexible options. Pick from one-off transfers, limit orders, forward contracts and recurring transfers.
  • Large bank network. With more than 115 banks in the OFX network, chances are good you'll be able to transfer locally to avoid excess bank fees.

What to be aware of

  • First transfer requires phone verification. You can sign up for a free account online, but you'll need to be ready to accept a call from an OFX representative to verify your information before you can begin sending money worldwide.
  • Recipient must have a bank account. If you want to send to a mobile wallet or cash pickup location, a different service will suit you better.
  • Only online. You can't pay in-store with cash.
  • Minimum transfer. The minimum transfer amount is $250 per transfer for Australian users.

OFX's exchange rates and fees

OFX charges a flat $15 fee for Australians on transfers under $10,000. Additionally, it charges a small percentage of the overall fee, which is added to the mid-market rate.

Calculate how much your transfer with OFX could cost

Enter the amount you want to send and the currency you want to send to then click Calculate to see up-to-date OFX rates.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 - 2 days AUD 0.00 0.77 USD
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How long does an OFX transfer take?

OFX separates its transfers into two categories: major currencies and exotic currencies. In general, these two categories have the following transfer speeds:

  • Major currencies: 1–2 days
  • Exotic currencies: 3–5 days

Both transfers may have additional time added on depending on how long it takes for your bank to transfer the money to OFX.

What currencies does OFX support?

OFX sends money to over 55 currencies around the world, covering most major and a lot of exotic currencies. You can check out a full list of the currencies you can send with OFX here, but some of the more popular ones include the following:

  • GBP British pound
  • USD US dollar
  • CNY Chinese Yuan
  • EUR Euro
  • INR Indian rupee
  • MXN Mexican peso
  • PHP Philippine peso
  • KRW South Korean won

Is OFX safe to use?

OFX operates and is regulated in multiple countries and jurisdictions around the globe and is listed on the Australian Stock Exchange. In short, OFX regulations include the following:

  • Australian Securities & Investments Commission (ASIC) — Australian Financial Services License
  • Financial Conduct Authority (FCA) — Authorised Payment Institution
  • Financial Crimes Enforcement Network (FinCEN) — Federally registered US Money Services Business
  • Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) — Money Service Business

OFX reviews and complaints

A breakdown of OFX reviews on various trusted websites — accurate as of October 13, 2020.

Trustpilot score4.4 out of 5, based on 4,096 customer reviews
ProductReview3.3 out of 5, based on 242 customer reviews
NerdWallet4 out of 5, staff reviewed

OFX reviews are fairly positive across the board, with many negative reviews focused on OFX's identity verification process. Because OFX adheres to strict anti-money laundering (AML) protocols, it requires customers to verify their identity by phone as well as submit documents proving their identity. On Trustpilot, OFX has responded to nearly every negative review with details on how to contact management and help the customer solve their issue.

What type of money transfers does OFX support?

OFX money transfers options come in a few shapes and sizes, with multiple ways to meet your transfer needs. There are two distinct ways to send money with OFX: through a Rapid Transfer or by taking advantage of OFX Risk Management features.

OFX Rapid Transfer

Rapid Transfers are the most common way to send OFX money transfers. When sending a Rapid Transfer, you have two options:

  • Single Transfers. OFX Single Transfers lock in the exchange rate when you confirm the transfer.
  • Recurring Transfers. OFX Recurring Transfers can be used for monthly, quarterly or any other repeating transfer you need to send.

OFX Risk Management

Risk Management transfers are designed to help you reduce costs and save money down the line. You have two options when setting up your OFX Risk Management transfer:

  • Buy now, transfer later. Lock-in your exchange rate now using a forward contract, but schedule your transfer to send in the next two days to twelve months.
  • Set your target rate. Use this option to set a target rate by utilising a limit order. Once your target rate is triggered, OFX will contact you to complete your transfer.

OFX also has specialised accounts for online sellers and businesses, which you can read more about in our reviews.

What do I need to send money through OFX?

To start, have the following information on hand to sign up for a free account with OFX:

  • Name, email address, address and phone number
  • Date of birth
  • Nationality and country of origin
  • Driver's license or passport
  • Occupation

How to make your first transfer with OFX

Take the following steps to get started:

  1. Go to OFX's website.
  2. Choose a personal or business account. Enter your country, state and email address. Click Next.
  3. Enter estimates of your transferring needs. These amounts don't have to be exact and can be changed later. Click Next.
  4. Enter your personal and contact information. This will include your full name, date of birth, phone number, current residential address and occupation.
  5. Check your email for registration confirmation. OFX may require you to confirm your identity by uploading a scan of your photo ID. You should receive a decision by email within two business days.
  6. Add your recipient's information. After verification, log in to your account to enter your recipient's details. Click Recipients and then Add new recipient. Enter their full legal name, residential address and their banking information.
  7. Send your funds to OFX and verify your first transfer. A representative from OFX will call you to verify the details of your first transfer.
Blue icon of forms

My experience with signing up

I wasn't looking forward to signing up for an OFX account because I don't like speaking with customer service on the phone, but it turned out to be a relatively painless process. After creating my account and submitting my documents online, I called OFX and was connected with a representative within a few minutes. After answering questions about my ID and address, my account was good to go. Here are some key takeaways:

  • Did I have to interact with customer service? Yes, there is no way around this step.
  • How long did it take? The entire process took less than an hour, but only about five minutes of that time was actively spent signing up — the rest was just waiting.
  • What was unexpected? Customer service got straight to the point when I talked to them, so I was on and off the phone in less than five minutes.

How do I track my OFX transfer?

You can track your transfer online by signing in to your account and selecting Deals and orders, or by downloading the OFX smartphone app. OFX can also send you automated updates by email or text — select which you prefer under Your profile when you sign in to your account.

If you need help with a transfer at any step of the process, OFX customer support is available by phone any time, day or night at +1300 300 424 or +61 2 8667 8090.

Does OFX have a mobile app?

OFX app screenshot

Yes, OFX has an app on both Google Play and the App Store. The OFX app makes it possible to do the following:

  • Monitor exchange rates. View current and historical exchange-rate data with a few taps.
  • Log in using biometrics. Both face and fingerprint recognition can be used to log in.
  • Track your transfer. See exactly where your transfer is anytime during its transition.
  • Access to dozens of currencies. Transfer between more than 55 currencies in more than 180 countries worldwide.
Ratings accurate as of 9 November 2020
Google Play Store4.4 out of 5, based on 2,484 customer ratings
Apple App Store4.8 out of 5, based on 1951 customer ratings

More on the best money transfer apps

Bottom line

OFX provides fast and secure transfers from the United States in over 55 currencies, with diverse transfer options to fit a variety of needs. However, you'll want to compare the features of a range of money transfer companies before deciding which is best for your specific needs.

Compare OFX to similar services

Use our comparison to see what your transfer could look like with only a few clicks. Enter the amount you want to send, select the destination currency and click Calculate.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.768 USD
Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.77 USD
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.771 USD
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.77 USD
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.77 USD
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 1 1 day AUD 52.00 0.769 USD
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.765 USD
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.
Go to site Show details
AUD 1 Same day AUD 0.00 0.769 USD
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.773 USD
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.765 USD
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.764 USD
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.773 USD
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Find out other alternatives to OFX

Want to compare OFX to other services side-by-side?

OFX vs Wise

Frequently asked questions

Can I pay for my OFX transfer with cash?

No. OFX doesn't accept cash, check or credit card payment.

Will I be notified when my OFX transfer is complete?

Yes. OFX provides notifications through the app, text or by email to keep you up to date at every step of the money transfer process.

What is OFX?

OFX International Money Transfers & Currency Exchange is a global money transfer company that separates itself from the competition by never charging fees on transfers. OFX was founded in Sydney, Australia in 1998 and was previously known as OzForex. Before a brand consolidation in 2015, there were territory-specific brands around the world under the OFX umbrella: UKForex, CanadianForex, USForex, NZForex, ClearFX and Tranzfers.

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

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

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for Send International Money Transfers
Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

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    Default Gravatar
    November 15, 2018

    Can I transfer from Thailand to Australia.

      Default Gravatar
      November 15, 2018

      Hi John,

      Thanks for reaching out. You may certainly transfer funds from Thailand to Australia using OFX. Head over to their website regarding international money transfer. It will show different ways how to do a transfer whether its a Rapid Transfer (to lock in exchange rates) or Risk Management.
      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


    Default Gravatar
    January 18, 2017

    Hi my friend from Australia did use your service transfer the money via my bank in Malaysia almost 7 days. Who I suppose to check the transfer clearing in my accounts. Because I check from My Maybank is no fund cleared. My friend said the fund is in my accounts. Please advise me what I suppose to do and with who to check for the clearance money.


      Avatarfinder Customer Care
      January 18, 2017

      Hi Rosnani,

      Thanks for your question.

      With OFX, transfers can reach the destination account up to two days depending on where the money is sent.

      If the money is not yet available in your account after 7 days, it is best to contact OFX directly. They offer a 24-hour service so you can call them anytime on +61 2 8667 8090 (if you are calling from outside Australia).


    Default Gravatar
    October 12, 2016

    Regarding the special offer “There is also a $0 online transfer fee for all finder.com.au customers.”, is this a one off or ongoing special? How does OFX know to apply this offer to Finder customers? Thanks.

      Avatarfinder Customer Care
      October 13, 2016

      Hi Mo,

      Thanks for your question.

      Only users who use the finder.com.au link are able to take advantage of the $0 fee offer.

      If the $0 offer hasn’t been applied, please let us know and we’ll pass on your details to OFX.


    Default Gravatar
    July 28, 2016

    Hi OFX,

    I would like to send about USD 10,000 to my Etrade account in the USA. It has to go from my NAB account (an AUD account) to Wells Fargo Bank, Routed to Etrade Clearing LLC to be deposited into my Etrade Brokerage Account. Is this something you can do? Or do all transfers have to be from Bank Account to Bank Account? I look forward to answer. Thanks, Kate

      Avatarfinder Customer Care
      July 28, 2016

      Hi Kate,

      Thank you for your inquiry.

      Please note that you have come through to finder.com.au we are an Australian financial comparison website and general information service, not actually OFX.

      If you want to send money using OFX, please register on OFX by clicking the ‘Go to Site’ button above. You can also find more about the transfer process by reading the topic “The registration and transfer process” outlined above.

      In the meantime, aside from OFX, you also have the option to send money via wire transfer – that is from your NAB account to Wells Fargo Bank via online banking of NAB. You can complete the process when you visit and check NAB international funds transfer page.

      Hope this has helped.


    Default Gravatar
    May 10, 2016

    Hi, We are an Australian business that would like to make payments to our suppliers and contractors in New Zealand. Can you confirm if the money sent via OFX goes direct to our suppliers bank account or is there a Correspondent in the middle that charges an additional fee for handling the transaction between ourselves and our supplier? We are happy to pay a transfer fee from our end but need to make sure the money we are sending to our supplier is paid in full into their account less any fees their own bank might charge to handle transfer of fx. Let me know when you can. Thanks.

      Avatarfinder Customer Care
      May 11, 2016

      Hi Bill,

      Thanks for your question.

      The funds sent via OFX goes directly to the bank account you’ve specified, so there are no additional fees for handling the transaction.

      Hope this helps.

    Default Gravatar
    May 9, 2016


    I am planning to transfer money around AUD5000 to a bank in Turkey. The money transferred is to be deposited in USD currency at the receiving end as the account hold in the bank in Turkey is a USD account.
    I wonder would there be a bank fee to the receiving account in Turkey in addition to the transfer cost here (if any) and if so, what would be the approx. total cost in AUD?

      Avatarfinder Customer Care
      May 10, 2016

      Hi Alex,

      Thanks for your question.

      Unfortunately we’re unable to tell you what the receiving fees are, this will depend on the Turkish back and it’s terms and conditions. I’d recommend that you get in touch with them directly.

      In terms of sending, there are no fees charged by OFX for sending funds overseas.

      Hope this helps.

    Default Gravatar
    March 22, 2016

    “OFX are offering exclusive exchange rates to finder.com.au customers”
    I am trying to find these “exclusive rates” but there appears to be no difference whether I go straight to your site or through finder.com. I wish to transfer AUD100,000 to NZD. finder.com says i will get NZD111,536 but your site offers a customer rate of only NZD111,210. Can you tell me how to claim this higher rate please

      Avatarfinder Customer Care
      March 23, 2016

      Hi Kevin,

      Thanks for bringing this to our attention, it seems that it’s a technical issue.

      All finder customers should be receiving the exclusive rates and your accounts should be reflecting this.

      Please call OFX directly as it will be rectified through them.

    Default Gravatar
    March 17, 2016

    why can’t i use Poli any more?

      Default Gravatar
      March 18, 2016

      Hi Keith, thanks for you question.

      According to OFX’s FAQ page, acceptable payment methods include BPAY, EFT, Poli and Direct Debit. Please get in touch with OFX directly to troubleshoot why Poli isn’t working for your specific account.

      Hope this helps.

    Default Gravatar
    March 4, 2016


    I’m planning to transfer money from here to UK. I wonder would there be bank fee charge to the receiving account in UK? Would the transaction count as an international transaction made from Australia or the transaction are made by ofx UK counterpart and therefore the transaction is a locally made transaction.


      Avatarfinder Customer Care
      March 8, 2016

      Hi Sherman,

      Thanks for your question.

      The UK transfer is local, ie: OFX pay pounds sterling from Barclays London to the UK beneficiary bank, so there should be no transfer fees.

      You’ll pay AUD to your OFX (AUD) account in Sydney and once funds clear, OFX pay Sterling to the nominated (UK) account, from our London (GBP) account.

      There shouldn’t be recipient fees, but it’s best to check with the recipient bank.

      Hope this helps.

    Default Gravatar
    February 22, 2016


    I have just made a transfer for the first time and have been notified that I will be contacted shortly to finalise the payment. I am needing this transfer done as soon as possible so was wondering could you please give an indication of when this would usually be? Eg. within an hour, next business day etc.

    Thank you

      Avatarfinder Customer Care
      February 23, 2016

      Hi Kay,

      Thanks for your question.

      OFX usually processes transfers within 1 business day.

      I hope this helps.

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