OFX vs Send Payments: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	OFX	Send Payments
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
Average Exchange Rate Markup	0.4% – 1.9%	0.01
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.	AU$250
Maximum Transfer Amount	No limit	No limit (AU$25,000 for recurring, daily transfers).

Reviews

	OFX	Send Payments
Trustpilot Rating	4.3	4.9
Number of Trustpilot Reviews	6,200	250
iOS App Rating	4.9	N/A
Number of iOS App Reviews	2,400	N/A
Android App Rating	4.5	N/A
Number of Android App Reviews	3,700	N/A

Features

	OFX	Send Payments
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	190	180
Number of Currencies	55	37
Payment Methods	Bank account	Bank account PayID POLi
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	0-2 days
Dedicated Dealer	Yes	Yes
Instant Custom Quote	No	No
Business Features	Spot contracts Forwards contracts Limit orders Rate alerts Risk calculator	Spot contracts Delayed contracts Limit orders Stop-loss orders Recurring transfers
Debit Card	None	None
Cancellation Policy	Each individual transfer’s cancellation can be discussed upon contacting an OFX representative.	Most money transfers can be canceled upon contacting Send Payments. Note that transfers that have been completed are seldom refunded.
Suitability	Large money transfers	Small and large money transfers

Company Comparison

	OFX	Send Payments
Year Founded	1998	2018
Headquarters	Sydney, New South Wales, Australia	Gold Coast, Queensland, Australia
Other Office Locations	London (UK), Dublin (Ireland), Auckland (New Zealand), Hong Kong, Singapore, Toronto (Canada), and San Francisco (USA)	Sydney and Melbourne (Australia)
Annual Trading Volume	$21.5 billion	AU$200 million
Number of Employees	650	60
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	ASIC and AUSTRAC in Australia
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)	Best International Money Transfer Provider (Mozo Experts Choice Awards, 2020) Finnies Finalist (FinTech Australia Awards, 2020) Most Promising Money Transfer Service for 2022 (MoneyTransferComparison, 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

Send Payments Pros & Cons

Send Payments Pros

• A large selection of payment methods
• Top-tier customer service
• Stellar Trustpilot score
• No transfer fees
• Favorable exchange rates
• Fast money transfers
• Personalized care with dedicated account managers
• Customizable business tools including stop orders, limit orders, and delayed contracts
• 180 countries available
• Slick web design

Send Payments Cons

• No option for cash pickup
• A minimum limit of AU$250 for transfers
• A small selection of rare or exotic currencies
• No option for instant, tailored quotes
• No mobile app

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