Western Union vs OFX

Which of these two services offers lower fees, better rates and faster delivery to friends and family around the world?

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Western Union is a money transfers giant, while Australia-based OFX is newer to the game. We compare the two on exchange rates, fees and transfer speeds to help you decide which is a better deal.

The fees and rates used in this comparison are accurate as of 18 February 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 - 2 days AUD 15.00 0.676 USD
3,371
$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 1 Same day AUD 30.00 0.654 USD
3,250
Send money online to friends and family around the world with Western Union. 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?

Western Union

Western Union's transfer fees will vary widely depending on which currency you're sending where and your chosen transfer method. Fees start from $4, but large transfers to certain locations may exceed $30. If you're paying by credit or debit card, these fees can climb even higher.

OFX

OFX typically charges a flat $15 fee on transfers under $10,000 and $0 on transfers over that threshold.

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Winner: Tie

For smaller transfers, Western Union will often come out ahead with lower fees. If you're sending above $10,000, OFX can often be cheaper.

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

Let's see how Western Union and OFX compare when sending two different amounts from Australia to the United Kingdom.

Sending $1,000 to the United Kingdom
Western Union OFX
Transfer fee $4 $15
Exchange rate 1 AUD = 0.5272 GBP 1 AUD = 0.552 GBP
Transfer speed Minutes 1–2 days
Total British pounds received £525.09 £538.20
Receiver gets £13.11 less £13.11 more
Sending $10,000 to the United Kingdom
Western Union OFX
Transfer fee $30 $0
Exchange rate 1 AUD = 0.5272 GBP 1 AUD = 0.552 GBP
Transfer speed Minutes 1–2 days
Total British pounds received £5,256.18 £5,520
Receiver gets £263.82 less £263.82 more

Even with a higher transfer fee, OFX can still leave you with £13 more than Western Union would when transferring $1,000. With the $10,000 transfer, the savings get even bigger with OFX.

Which offers better exchange rates?

Western Union

In the case of GBP, Western Union's rates are equivalent to about 5% above mid-market rates. This is essentially equivalent to an exchange rate "fee" of 5%.

It can vary between currencies, though. Western Union's exchange rates can vary from a couple of percent above mid-market rates, to almost 10%.

OFX

OFX's GBP rates are only 0.3% above mid-market rates at the time, equivalent to a significant fee reduction, especially on large transfers.

Its exchange rates tend to be from 1–4%, but can climb up to 6% for some currencies.

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Winner: OFX

OFX's stronger exchange rates will nearly always put more money into your recipient's pocket than Western Union's will.

Which is faster?

Western Union

Delivery speed varies with transfer options. At an agent location or by phone, your transfer could be delivered in minutes (at higher costs). Your cheapest options could take five days or longer, depending on the country.

OFX

To transfer your money to OFX, it takes one to two business days. It takes another one to two days to send that money from OFX to your recipient. You can expect it to take at least two business days to complete a transaction from send to receipt.

Trophy icon
Winner: Western Union

While OFX can offer same-day money transfers from Australia to the United States, Western Union can offer more consistently fast money transfers around the world.

General features

Payment methods Receiving options Minimum and maximum transfers Transfer speeds Currencies Transfer types
Western Union Bank transfer, credit card, debit card, cash Bank account, cash pick-up location, e-wallet transfer Minimum: $1

Maximum: $5,000

Same day 195+ currencies No special order types
OFX Bank transfer Bank account Minimum: $250

Maximum: No limit

1 - 2 days 50+ currencies Special order types available

Western Union

You can send money through Western Union online, over the phone or at one of its many store locations. If you want to pay with cash, you'll need to go into a branch, but you can pay by card at any of these options.

After sending funds, you can track them online through the Western Union website.

OFX

You'll need to create a free account, but it's easy to set up as part of your transfer. After this, enter how much money you'll be transferring and send your funds to OFX's local bank account. OFX then converts your currency and sends it to your recipient's bank account.

Bottom line

If you want to send money in an exotic currency to a far-flung location as quickly as possible, Western Union is difficult to beat. But if you want to lock in favourable exchange rates and seek out better value for money, at the cost of a slower transfer and fewer payment options, OFX may be preferable.

Ultimately, you'll need to compare your options to find the service that's right for you.

Looking for more options?

Use our calculator below to compare the fees, exchange rates and transfer speeds of leading international money transfer providers. Just enter the details in the calculator to see what fees and exchange rates you would get.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 3,000 1 day AUD 0.00 0.674 USD
6,742
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 0.674 USD
6,740
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 0.674 USD
6,739
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 0.674 USD
6,739
$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 0.673 USD
6,735
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 0.677 USD
6,734
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 0.67 USD
6,702
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 0.67 USD
6,700
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 0.669 USD
6,686
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 0.672 USD
6,715
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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