OFX vs WorldRemit: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	OFX	WorldRemit
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.	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.
Average Exchange Rate Markup	0.4% – 1.9%	1% – 1.6%
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
Maximum Transfer Amount	No limit	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).

Reviews

	OFX	WorldRemit
Trustpilot Rating	4.3	4.1
Number of Trustpilot Reviews	6,200	78,800
iOS App Rating	4.9	4.8
Number of iOS App Reviews	2,400	172,000
Android App Rating	4.5	4.6
Number of Android App Reviews	3,700	179,000

Features

	OFX	WorldRemit
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	No	No
Available Countries	190	145
Number of Currencies	55	70
Payment Methods	Bank account	Bank account Debit card Credit card Apple Pay Interac iDeal Trustly Klarna SOFORT POLi
Receiving Methods	Bank account	Online wallet Bank account Cash pickup Home delivery
Cash Pickup Option	No	Yes
Payments Flexibility	Web platform Mobile app	Web platform Mobile app
Supported Languages	English	English, French, German, Danish, Dutch, and Spanish
Transfer Speed	1-4 days	0-2 days (within minutes in 95% of cases).
Dedicated Dealer	Yes	No
Instant Custom Quote	No	Yes
Business Features	Spot contracts Forwards contracts Limit orders Rate alerts Risk calculator	N/A
Debit Card	None	None
Cancellation Policy	Each individual transfer’s cancellation can be discussed upon contacting an OFX representative.	Only when the transfer hasn’t been paid out. Bank and mobile wallet transfers may be refunded even after the transfer is completed if the recipient agrees to the refund.
Suitability	Large money transfers	Small money transfers

Company Comparison

	OFX	WorldRemit
Year Founded	1998	2010
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)	Poland (Krakow), USA (Denver), Philippines (Cebu), Australia (Sydney), Belgium (Brussels), Japan (Tokyo), Kenya (Nairobi), Malaysia (Kuala Lumpur), Rwanda (Kigali), Singapore, South Africa (Johannesburg), Somaliland (Hargeisa), Tanzania (Dar Es Salaam), Uganda (Kampala), and Canada (Toronto)
Annual Trading Volume	$21.5 billion	$10 billion
Number of Employees	650	1800
Number of Clients	1 million	5.7 million
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 National Bank of Belgium in EU FSPR in New Zealand FSA in Japan
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 Practice in Remittances for Development by IFAD (United Nations Agency, 2015) Technology Fast 50 (Deloitte, 2015, 2016, and 2017) Tech Track 100 (Sunday Times, 2016, 2017, 2018, and 2019) Excellence in Transformational Business (FT/IFC Transformational Business Awards, 2017) EY Entrepreneur Of The Year (2016) Bronze Award (European Contact Centre & Customer Service Awards, 2019) The Powerlist (BBC, 2020) Best for International Transfers (Best Money Transfer Apps – Investopedia, 2021 and 2023)

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

WorldRemit Pros & Cons

WorldRemit Pros

• Many payment methods
• Competitive foreign exchange rates
• Small transaction fees
• Excellent policy for transfer cancellations
• Instant, personalized cost estimates
• Cash pickup services available
• Mobile digital wallet features
• Comprehensive global service availability
• Strong coverage of over 70 unique currencies
• Wide local presence with offices in 15 nations
• Quick funds transfers
• Comprehensive and informative knowledge base

WorldRemit Cons

• Not ideal for transferring large sums of money
• No personal account managers available
• Lacks business solutions like forward contracts and limit orders
• Numerous criticisms pertaining to customer service

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