OFX vs Ria

Ria vs OFX

Get the lowdown on two well-known money specialists to better compare your options.

Between Ria's laundry list of available currencies and OFX's $0 fees, there's already a lot to like about these two money transfer specialists.

Ria offers services in over 140 countries and through more than 332,000 agents worldwide, while OFX supports 55 currencies along with four types of transfers. Here's how these two powerhouses stack up on fees, turnaround and options.

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

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 - 2 days AUD 15.00 0.698 USD
688
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 2 1 - 2 days AUD 15.00 0.687 USD
677
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?

Ria

Fees vary based on the amount you're sending, the speed at which you're sending it, your payment method and the location you're sending it to. With so many variables, it's difficult to get a read on the average fees – or even an accurate range. Fees also vary based on whether you send from a Ria location or online.

OFX

With OFX, you'll pay no fee on transfers over $10,000 and a flat $15 fee on transfers under $10,000.

Trophy icon
Winner: OFX

With its simple and clear fees getting as low as $0, OFX is the clear winner.

Let's crunch the numbers: Sending $1,000 and $10,000 to Germany

The tables below show how much it might cost to transfer funds from Australia to Germany with the two different providers, for $1,000 and $10,000.

Sending $1,000 to Germany
Ria OFX
Transfer fee $15 $15
Exchange rate 1 AUD = 0.6153 EUR 1 AUD = 0.6216 EUR
Transfer speed Up to 4 days Up to 4 days
Total euros received €606 €612
Receiver gets €6 less €6 more
Sending $10,000 to Germany
Ria OFX
Transfer fee $30 $0
Exchange rate 1 AUD = 0.6153 EUR 1 AUD = 0.6216 EUR
Transfer speed Up to 4 days Up to 4 days
Total euros received €6,134 €6,216
Receiver gets €82 less €82 more

The exchange rates and fees are similar enough that there is no major difference in cost, although OFX remains consistently more cost-effective. But for large transfers, the price difference grows up to over €80.

Which offers better exchange rates?

Ria

Ria adds a margin to the exchange rate, ranging between 0.3% and 5%. For example, if you want to send money to Indonesia:

  • Mid-market rate: 1 AUD = 10,020.36 IDR
  • Ria's exchange rate: 1 AUD = 9,838.61 IDR

Making it a margin of 1.8%.

OFX

OFX's exchange rates vary by the amount being sent, from 1% to 6%. If we're looking at the same transfer to Indonesia:

  • Mid-market rate: 1 AUD = 10,020.36 IDR
  • OFX's exchange rate: 1 AUD = 9,672.2790 IDR

This works out as a margin of 3.5%.

Trophy icon
Winner: Ria

In general, Ria will often offer a smaller margin on the exchange rate. Keep in mind that Ria balances this out with its fee structure, so you'll need to look closely at both before making a decision.

Which is faster?

Ria

Transfer speeds vary based on your method of transfer and how you want it delivered – bank to bank, cash pick-up and more – ranging from 15 minutes to four business days.

OFX

Transfer turnaround with OFX is two to four business days. One to two of those days are to send your money to OFX, and another one to two days are to transfer your money from OFX to your recipient's bank account.

Trophy icon
Winner: Ria

With both money specialists offering the same maximum, it comes down to the minimum turnaround you might see. Ria takes the win by offering select transfers in only 30 minutes or so.

General features

Payment methods Receiving options Max and min Transfer speeds Currencies
Ria Bank transfer, credit card, debit card and cash Bank account, cash pick-up, courier cash delivery Minimum: $2

Maximum: $4,999

1 - 2 days 95+ currencies
OFX Bank transfer Bank account Minimum: $250

Maximum: No limit

1 - 2 days 25+ currencies

Ria

You can send money online by creating an account, entering your recipient's details online and then submitting your banking and contact information.

If you don't want to create an account, you can still visit a Ria location and send money without creating an account or going online.

OFX

After creating an account, you choose a payment preference, enter your recipient's details and submit your contact and banking information.

OFX also requires verification for new accounts to ensure that you're who you say you are.

Bottom line

While you'll pay fewer fees at OFX, Ria offers better exchange rates and many more currencies. Compare your options to find a service best suited to your needs and make the best-informed decision you can.

Looking for more options?

The table below can help you find more options. Enter the details of your transfer into the table and it will run the numbers for you.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.698 USD
698
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 2,000 1 day N/A N/A N/A Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 250 1 - 2 days AUD 15.00 0.698 USD
688
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 1 1 - 2 days AUD 4.50 0.709 USD
705
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 1 Within an hour AUD 3.99 0.707 USD
704
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day N/A N/A N/A 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 0 1 day AUD 0.00 0.698 USD
698
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 200 1 - 2 days AUD 5.00 0.709 USD
705
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

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.

Rhys Subitch

Rhys Subitch is a content creator and editor for Finder. They specialise in updating information on various pages to keep everything accurate for the readers, and enjoy the time they get to spend researching various topics because of it. Rhys lives with their cat and partner in Seattle. When not working they enjoy working on sewing and other craft projects.

Was this content helpful to you? No  Yes

Related Posts

International Money Transfer Offers

Important Information*
TorFX International Money Transfers

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.

WorldFirst International Money Transfers

Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

TransferWise International Money Transfers

Make online transfers at the mid-market rate with transparent fees in 45+ currencies.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site