OFX vs Moneycorp: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	OFX	Moneycorp
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.	No fee for online transfers £15 for transfers over the phone.
Average Exchange Rate Markup	0.4% – 1.9%	1% – 2%
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.	50
Maximum Transfer Amount	No limit	£100,000 (or currency equivalent) for online transfers. No limit for transfers over the phone.

Reviews

	OFX	Moneycorp
Trustpilot Rating	4.3	4.3
Number of Trustpilot Reviews	6,200	6,300
iOS App Rating	4.9	2.1
Number of iOS App Reviews	2,400	120
Android App Rating	4.5	N/A
Number of Android App Reviews	3,700	N/A

Features

	OFX	Moneycorp
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	190	190
Number of Currencies	55	35
Payment Methods	Bank account	Bank account Debit card Check
Receiving Methods	Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app	Web platform Mobile app Phone
Supported Languages	English	English, Portuguese, French, Romanian, and Spanish
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 Stop-loss orders Recurring transfers Vanilla options Zero-cost options Rate alerts
Debit Card	None	None
Cancellation Policy	Each individual transfer’s cancellation can be discussed upon contacting an OFX representative.	Each individual transfer’s cancellation can be discussed upon contacting a Moneycorp representative. Generally, most transfers that haven’t been completed can be canceled and refunded.
Suitability	Large money transfers	Small and large money transfers

Company Comparison

	OFX	Moneycorp
Year Founded	1998	1979
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)	Dublin (Ireland), Toronto (Canada), Gibraltar, Madrid, Costa Blanca, and Costa Del Sol (Spain), Bucharest (Romania), Dubai (UAE), Washington DC, Orlando, and Providence (USA), Hong Kong, and São Paulo (Brazil)
Annual Trading Volume	$21.5 billion	£38 billion
Number of Employees	650	900
Number of Clients	1 million	N/A
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 and the Federal Reserve Bank of New York in the USA FINTRAC in Canada FCA and the HMRC in the UK Dubai Financial Services Authority in UAE Central Bank of Brazil in Brazil Central Bank of Ireland in Ireland CED in Hong Kong GFSC in Gibraltar
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)	Travel Money Provider of the Year (Moneyfacts Consumer Awards, 2015,2016) Top Track 250 (The Sunday Times, 2017) Gold Trusted Service Award (Feefo, 2018, 2019) Best Money Transfer Service Provider (The World Banking Awards, 2019) Platinum Trusted Service Award for consistently delivering excellence (Feefo, 2020) Money Transfer Provider of the Year (MoneyAge Awards, 2019, shortlisted in 2020) Best Cross-Border Payments Service (Payment Awards, shortlisted in 2020) Best Cross-Border Payments Infrastructure (Payment Awards, shortlisted in 2020) Foreign Exchange Services finalist (The Private Equity Service Provider Awards, 2020)

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

Moneycorp Pros & Cons

Moneycorp Pros

• Exceptional customer support
• Respectable Trustpilot rating
• Zero fees for transfers conducted online
• Unlimited transfer amounts for phone transactions
• Operational in more than 190 nations worldwide
• Impressive range of supported currencies
• In-depth local expertise
• Decades of industry experience
• Speedy money transfers
• Broad array of features for businesses
• Multilingual services
• Robust regulatory compliance

Moneycorp Cons

• Limited funding methods
• Lack of support for less-common currencies
• No option for instant personalized quotes

See More Comparisons:

OFX vs Caxton
OFX vs Corpay
OFX vs Currency Solutions
Currencies Direct vs CurrencyFair
Currencies Direct vs TorFX