Review 20 July 2026

OFX International Money Transfer Review

OFX supports personal transfers and a newer business platform with global currency accounts, corporate cards and payment controls. Fees and availability vary by market.

OFX Overview

OFX is an international money-transfer specialist for personal and business customers. It supports transfers in more than 50 currencies to over 170 countries and provides phone and email support around the clock.

OFX can be useful for larger payments, property transactions, business invoices and customers who want access to a currency specialist. Registration, identity checks and funding are required before the recipient can be paid, so it is less suited to cash collection or an immediate card-funded transfer.

The quoted OFX Customer Rate is not the wholesale or mid-market rate. OFX earns a margin between its customer rate and the wholesale rate it obtains. Transfer fees also depend on the customer's market and product, while intermediary or recipient banks may make additional deductions.

Compare OFX exchange rates

Use the live comparison below to compare OFX with other available services for your transfer.

Best For

Personal customers making medium or large bank-to-bank international transfers.
Property purchases, investments and other high-value payments where phone support is useful.
Businesses paying overseas suppliers or receiving international marketplace revenue.
Customers who want to discuss a transfer with a currency specialist at any time.
Users willing to fund the transfer from a bank account rather than cash or cheque.

OFX may be less suitable for very small transfers, cash pickup, card-funded payments or customers who need the recipient paid immediately.

Pros and Cons

Pros

More than 50 supported currencies and over 170 destination countries.
24/7 support by phone and email.
Personal and business services, including tools for managing future or target exchange rates where eligible.
An Australian Global Business Account with 30+ currencies, corporate cards and accounting integrations for registered businesses.
No OFX transfer fee for US personal transfers under the current US schedule.
Most major-currency payments are sent within one to two business days after OFX receives cleared funds.

Cons

The OFX Customer Rate includes a margin and is not the mid-market rate.
Fees and minimums vary by market, product and offer.
Australian personal transfers below A$10,000 normally attract an A$15 transaction fee under the current Australian schedule.
Third-party or recipient banks can deduct charges from some payments.
Registration, verification and bank funding can add time before a first transfer is completed.
Business-platform plans, features and fees differ by country, and the Global Business Account is not a bank account.

Fees Summary

OFX does not have one universal global fee schedule. The following examples were checked on 15 July 2026:

Market or cost	Current treatment
United States personal transfers	OFX states that it charges no transfer fee. Third-party bank deductions may still apply.
Australia personal transfers below A$10,000	A$15 transaction fee for customers outside the OFX Australia Business Platform.
Australia personal transfers of A$10,000 or more	No OFX transaction fee under the current personal schedule.
Exchange-rate cost	The OFX Customer Rate includes a margin relative to the wholesale rate.
Intermediary or recipient-bank charges	May be deducted on some routes; OFX says it does not receive these charges.

Check the complete quote for the sending market, amount, currencies and product. A transfer described as fee-free can still have a conversion cost through the exchange-rate margin.

Exchange Rates and Transfer Process

OFX displays a reference market rate publicly, but customers must register or log in to see their OFX Customer Rate. The customer rate can vary with the currency pair, amount, timing and customer arrangement.

After booking, the customer sends funds to OFX using an available bank-funding method. OFX then pays the recipient, using local payment networks where available or correspondent banking where required. Cash and cheques are not accepted for US transfers, and available funding methods differ by market.

Before confirming, compare the amount the recipient is expected to receive with another service. This captures both the visible fee and the exchange-rate difference more reliably than comparing the advertised fee alone.

OFX Global Business Account and Business Platform

OFX's current business product is broader than the older Global Currency Account once marketed mainly to online sellers. In Australia, eligible registered businesses can use a Global Business Account to receive, hold and pay in more than 30 currencies. Local account details are available for AUD, CAD, EUR, GBP and USD. OFX describes this as a virtual business account, not a bank account.

The platform combines international and domestic payments with bulk payments, spot conversions, forward contracts and limit orders where eligible. It also offers Xero and QuickBooks integrations. The paid Full Suite adds approval policies, spend controls, receipt capture and accounts-payable automation; Custom plans are intended for multi-entity or high-volume businesses.

Corporate cards and subscription spending

OFX Corporate Cards are Visa business debit cards linked to balances in the Global Business Account. Employee cards can be physical or virtual, while company cards can be created for subscriptions, recurring suppliers or other controlled expenses. Administrators can set limits and lock or cancel cards through the platform or business app.

When sufficient funds are held in the purchase currency, OFX says the card draws from that balance without a cross-border transaction fee. If the balance is missing or insufficient, an automatic currency conversion and its exchange-rate margin can apply. Cash withdrawals are not supported.

Australian business plans and April 2026 fees

The following Australian pricing was checked on 20 July 2026. It applies to relevant corporate clients using the new OFX Australia Business Platform; migrated customers can be subject to the particular schedule identified in their OFX notice.

Plan or charge	Published Australian pricing
Standard plan	A$0 per authorised user per month; 20 domestic AUD transactions included each month, then A$1 each.
Full Suite	A$75 including GST per month for up to five authorised users, then A$10 including GST per additional user; 200 domestic AUD transactions included, then A$1 each.
Cross-border local payment	A$0 under the April 2026 schedule.
Outgoing Wire or SWIFT payment	A$10 per payment on Standard and Full Suite, with possible intermediary-bank deductions.
Incoming Wire or SWIFT payment	Listed at A$5, although OFX's current pricing page says this is being waived for Standard and Full Suite clients from 12 May 2026.
Physical employee card	A$10 one-off; virtual company cards are listed at A$0, subject to fair use.
International card conversion	A 1.5% FX margin is listed when a card purchase requires conversion.

The platform still has costs beyond the subscription. Funding the Global Business Account by card and using OFX's Pay by Card service attract percentage fees, and every FX conversion uses a customer rate containing an OFX margin. Compare the complete business quote and confirm which local payment rails are available before relying on the headline plan price.

Speed

OFX says most transfers to major currencies are made within one to two business days after it receives the customer's funds. Some currencies and destinations take longer.

The total time also includes how long the customer's bank takes to send cleared funds to OFX. Weekends, public holidays, cut-off times, compliance checks, correspondent banks and recipient-bank processing can extend delivery. Track the transfer in the OFX account or app and use the route-specific estimate rather than treating one to two days as a guarantee.

Safety and Regulation

OFX operates through different legal entities and regulatory arrangements by market. In Australia, OFX states that it holds an Australian Financial Services Licence and is regulated by ASIC and AUSTRAC. In the United States, USForex Inc. doing business as OFX is registered with FinCEN and is subject to applicable state money-transmission requirements.

These arrangements do not remove payment or fraud risk. Verify new or changed recipient instructions independently, particularly for property settlements and business invoices. A correctly authorised international transfer can be difficult to recover after processing.

Verdict

OFX is a practical option for customers making bank-to-bank international payments who value broad currency coverage and access to 24/7 human support. Its business products and currency-management tools can also suit companies with recurring overseas payments.

The final value depends on the customer exchange rate, market-specific fee schedule and any third-party deductions. OFX should therefore be compared using the expected recipient amount, especially for a large transfer where a small exchange-rate difference can outweigh a fixed fee.

If OFX suits the payment, visit OFX to check eligibility and obtain a customer quote.

Frequently Asked Questions

Does OFX use the mid-market exchange rate?

No. OFX distinguishes its reference market rate from the OFX Customer Rate. The customer rate includes a margin.

Does OFX charge a transfer fee?

It depends on the market and product. OFX currently states that US personal transfers have no OFX transfer fee. In Australia, personal transfers below A$10,000 normally have an A$15 fee, while transfers of A$10,000 or more have no OFX transaction fee. Third-party bank charges may still apply.

How long does an OFX transfer take?

OFX says most major-currency transfers are made within one to two business days after it receives the customer's funds. Funding time, destination, banking hours and compliance checks can make the total transfer longer.

Is there an OFX minimum transfer amount?

Minimums and promotional conditions vary by market. OFX's current US FAQ lists a US$150 minimum in major currencies, while some introductory offers publish different conditions. Check the requirement shown for the customer's country and transfer.

Is the OFX Global Business Account a bank account?

No. OFX describes it as a virtual business account for registered businesses. It can hold currency balances and make or receive payments, but it is not a bank account. Availability, local account details and safeguarding arrangements depend on the customer's market and OFX entity.

Does the OFX business account include cards?

In Australia, the current platform includes Visa business debit cards linked to the Global Business Account. Employee and company cards can be used for staff spending, suppliers or subscriptions, subject to plan eligibility, available balances and the card terms.

Methodology and Sources

This global review was checked against current official OFX personal-transfer, business-platform, fee, rate, timing, support and regulatory information on 20 July 2026. Local terms, platform availability and promotional offers can change.

Primary sources:

OFX US transfer-fee FAQ
OFX US minimum-transfer FAQ
OFX US transfer-rates and personal-transfer information
OFX US spot-transfer timing information
OFX Australia rates and fees
OFX Australia transfer-fee FAQ
OFX Australia personal-transfer information
OFX Australia Global Business Account
OFX Australia business pricing
OFX Australia fee schedule effective 1 April 2026
OFX Australia Corporate Cards
OFX Australia business-platform upgrade FAQs
OFX legal and regulatory information

Affiliate Disclosure

BestExchangeRates may receive compensation when a reader follows an OFX link and becomes a customer. This does not change the rate or fee charged to you, and it does not determine OFX's position in the live comparison.