OFX Alternatives and Competitors

September 7, 2020

OFX is a reliable and trustworthy organisation. It provides a great cost and time saving service to businesses and individuals. Read the OFX review or learn about OFX competitors and alternatives.

In the last few years, more OFX competitors have arrived on the market. This is a good thing for the customer and marketplace as the more alternatives available globally, the greater potential for savings. The right competitor for you depends on where you live and where you want to send money to.

Fee-free transfers
Competitive exchanges rates
Limit orders
Multilingual website and customer service

low

Fees

medium

2-3 days

Go to Site

Transparent fee structure
Send money to email addresses
Multicurrency account with debit card
Multilingual website & app

low

Fees

fast

1-2 days

Go to Site

Bank account transfers and cash transfers
Mobile airtime and mobile wallets top up
Home delivery of transferred funds
Multicurrency WorldRemit Wallet
Multilingual website

medium

Fees

fast

1-2 days

Go to Site

Best rate guarantee against competitors
No fees on any transfers
Transfers to over 200+ countries
Personal account manager
Spot & Forward contracts

low

Fees

medium

2-3 days

Go to Site

Jump to an alternative provider

XE Money Transfer

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TransferWise

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WorldRemit

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SendFX

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XE Money Transfer

XE is a Canada-based company that began operations in 1993. This OFX competitor merged with HiFX in 2019. XE provides services for individuals and businesses. Outside of Canada, it has offices in the U.S. and the UK. It operates dedicated websites for different countries which you can access in various languages. Personal transfers carried out through XE Money Transfer attract no fees.

Serves individuals and businesses

Residents of the U.S., Canada, the UK, Australia and New Zealand get access to dedicated websites

Offices in Canada, the U.S. and the UK

No fees for personal transfers

Provides spot transfers and limit orders

Website access and customer service offered in different languages

Only transfers to bank accounts

Absence of scheduled transfers

TransferWise

Launched in 2011, TransferWise is an international money transfer provider. It was setup by Skype’s first employee and has the backing of major investors such as Richard Branson. TransferWise is growing fast, offering a simple and fast solution to transferring money globally online. It allows local bank settlement, as well as the use of Debit or Credit Cards. This is unique amongst the TransferWise competition. Read the iCompareFX TransferWise review here.

Use your Google or Facebook account to register

UK-based – offices also in the U.S. and Estonia

Use the TransferWise website in English, Spanish, French, Dutch, Italian and Portuguese

Ideal for small transfers – no minimum limit

The “send” and “receive” money options let you send and receive funds using email addresses

Multiple country-dependant payment methods, which include bank transfers, direct debits, debit cards, credit cards, SOFORT, and POLI

Businesses can use the Borderless account to save when transacting in more than 15 currencies

Transfers only between bank accounts

Not all countries included in their network

Transfer fees vary depending on destination country, transfer amount and payment method

Payments through credit cards attract higher than usual fees

Does not let you schedule transfers

Does not provide forward contracts or limit orders

WorldRemit

Since it began operations in 2010, WorldRemit has processed millions of fund transfers to more than 125 countries. It lets residents of 50 countries register as customers. Other than its headquarters in the UK, this company also has offices in the U.S., Canada, Japan, Australia and New Zealand. You can use its website in English as well as French and Spanish. Find out more in this WorldRemit review.

Allows transfers to bank accounts and cash pick up centers

You can top up mobile wallets and mobile airtime

UK-based – offices also in the U.S., Australia and New Zealand

Website access in English, Spanish and French

Local phone support offered in some countries

Low minimum transfer amount of £1 or its equivalent in another currency

Serves only individuals

Transfer limits vary according to the sender’s country of residence and the chosen transfer method

Transfer fees depend on currencies involved, transfer method and transfer amount

Unavailable to schedule transfers, secure forward contracts or limit orders

SendFX

SendFX is headquartered in Australia. You may register with this alternative to TransferWise as an individual or a business. Once you sign up, you get access to the SendFX digital wallet, which you may use to hold funds and transact in more than 40 countries. The company provides fee-free personal transfers for residents of Australia. You may use the SendFX money transfer website only in English.

Transfer money from Australia in over 30 currencies and pay no transfer fees

Same day transfers

Choose from spot transfers and forward contracts

Dedicated account managers for business clients

Plans to launch a Visa card soon

AUD $500 transfer minimum or its equivalent in another currency

No cash pickup locations

Website access only in English

Personal

Business

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