OFX vs Corpay: Fees & Reviews Compared

Both OFX and Corpay are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	OFX	Corpay
Homepage
Transfer Fee	AU$15.00 under $10,000 (Australia) CAD $15.00 under $10,000 (Canada) HK $60.00 under $50,000 (Hong Kong) NZD $15.00 under $10,000 (New Zealand) No fee for the rest of the world.	£20 for transfers under £3,000 £0 for transfers above £3,000.
Average Exchange Rate Markup	0.4% – 1.9%	0.4% – 1.9%
Minimum Transfer Amount	$1000 in the US £100 in the UK €2 in the EU $150 in Hong Kong and Singapore AU$250 and its currency equivalent in the rest of the world.	£1,000 (or currency equivalent)
Maximum Transfer Amount	No limit	No limit

Reviews

	OFX	Corpay
Trustpilot Rating	4.3	2.8
Number of Trustpilot Reviews	6,200	3
iOS App Rating	4.9	5
Number of iOS App Reviews	2,400	1
Android App Rating	4.5	N/A
Number of Android App Reviews	3,700	N/A

Features

	OFX	Corpay
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	190	200
Number of Currencies	55	145
Payment Methods	Bank account	Bank account Debit card Credit card
Receiving Methods	Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app	Web platform Phone
Supported Languages	English	English
Transfer Speed	1-4 days	1-2 days
Dedicated Dealer	Yes	Yes
Instant Custom Quote	No	No
Business Features	Spot contracts Forwards contracts Limit orders Rate alerts Risk calculator	Spot contracts Forwards contracts Market orders Limit orders Treasury and risk management
Debit Card	None	Corpay Multi-Card
Cancellation Policy	Each individual transfer’s cancellation can be discussed upon contacting an OFX representative.	If you choose to cancel your money transfer, the funds would be returned to the market. Keep in mind that canceling the transaction may result in additional charges, which you would be liable for.**
Suitability	Large money transfers	Large money transfers

Company Comparison

	OFX	Corpay
Year Founded	1998	2001
Headquarters	Sydney, New South Wales, Australia	London, UK
Other Office Locations	London (UK), Dublin (Ireland), Auckland (New Zealand), Hong Kong, Singapore, Toronto (Canada), and San Francisco (USA)	The Netherlands, Spain, Cyprus, and Canada**
Annual Trading Volume	$21.5 billion	$74 Billion
Number of Employees	650	200**
Number of Clients	1 million	25000
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC and AUSTRAC in Australia Central Bank of Ireland in EU MAS in Singapore CED in Hong Kong DIA in New Zealand	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia Central Bank of Ireland in EU
Awards	Named one of the Fast 50 (Deloitte, 2005 – 2011) Named one of the Fast 500 Asia Pacific (Deloitte, 2005 – 2011) Named one of the BRW Fast 100 (The Australian Financial Review, 2005) Becoming a New Investors Award Finalist (UK Trade and Investment International Business Awards, 2006) Receiving the Australian Growth Company of the Year award (Australian Growth Company Awards, 2013) Receiving the Fraud Prevention Award (Digital Identity Summit, 2016) Scoring Outstanding Value in Money Transfers (Canstar, 2016, 2017, 2018, and 2019) Decorated as an Excellent Brand of Forex Services (Hong Kong Leader’s Choice Award, 2021) Proclaimed the Best International Money Transfer Provider (Finder Customer Satisfaction Awards, 2021/2022)	Profit Fast Track 100 (The Sunday Times, 2012) Best Small Companies to Work For (The Sunday Times, 2014) Best Company To Work For (Best Accreditation Standard, 2016) Best Forex Payment Technology Solution (UK Forex Awards, 2018) Best Currency Service Provider (Shares Awards, 2018) Gold Service Award (Feefo, 2019) Best New to Market Portugal (Department for International Trade Business Awards, 2019) Platinum Service Award (Feefo, 2021 and 2022) Best Payments Solutions Provider (Global Forex Awards B2B, 2022) Best Cross-Border Payments Service (Payments Awards, 2022) Overall Payment Solution of the Year (Electronic Money Award, 2022)

OFX Pros & Cons

OFX Pros

• Versatile solutions for businesses
• Exceptional customer support
• Quick money transfer process
• Attractive exchange rates
• Option for alerts on exchange rates
• Worldwide service coverage extending to more than 190 countries.
• Robust currency support with over 55 currencies and counting
• Lenient cancellation policy
• Comprehensive knowledgebase
• Highly rated mobile app

OFX Cons

• Not ideal for transferring small amounts of money
• Limited choices for funding transactions
• Transfer fees
• No real-time custom quotes option

Corpay Pros & Cons

Corpay Pros

• Several payment methods are available
• Expert currency advisors on-hand
• Impressive online reviews
• No transfer fees for large transfers
• Attractive exchange rates
• No limit on the maximum transfer amount
• Broad international reach
• Support for a wide range of currencies
• Long-standing industry experience
• Prompt transfer service

Corpay Cons

• Not suitable for small money transfers
• Limited funding options
• Absence of a mobile app
• No option for instant custom quotes
• High minimum transfer limit

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