HIGHLIGHTS

OFX, previously known as USForex was launched in 1998 and has since then, grown to be one of the world’s largest online foreign exchange companies. They are based in San Francisco, CA. OFX is part of the OZForex group which provides foreign exchange services to over 100,000 customers across six continents. OFX works alongside Barclays, UBS, and Bank of New York Mellon. OFX provides 24-hour access to corporate and private client dealers for all of their customers.

OFX provides services across all types of money transfers, including basic remittance as well as limit orders and forward contracts, which allow you to wait for and lock in more desirable exchange rates. OFX simplifies the process of sending money overseas into three easy steps, eliminating any unnecessary steps and making it a reliable remittance solution for its customers.

With the combination of modern technology, stellar customer service and a team well versed in the foreign exchange market, OFX offers a smart and secure solution to remittance users, private and corporate customers, all around the world.

What's Good About OFX Money Transfer

No Transfer Fee over $5000
Send Money to Bank Accounts in 197 Countries and in 48 Currencies.
Best Service for Business Transfer
Great Exchange Rates compared to Banks
Provides Live Exchange Rates

 

FEATURES (Currently showing rates for USA to IND change )

Exchange Rate Type
Locked-in
Transfer Fee
Bank Account
$ Amount
Fee
Up to $5000
$5.00
$5001 - $100000
$0.00
Above $5,000 No Fee


Special: $0 Transfer for CompareRemit Customers.(Limited Time only)
Transfer Time
Bank Deposit
5 Days
Transfer Type
  • ACH Transfer
  • Wire Transfer
Daily Transfer Limit
$100,000
Customer Service Info
Personal Transfers 1-888-288-7354
Business Transfers 1-888-966-6888
Fax + 1-415-364-6680
Company Headquarter
San Francisco, CA
Company Type
Remittance Providers
Mobile App
Company Established
1998
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
Referral Program
Yes
Key Feature
-
Document Requirements
-

EDITORIAL REVIEW

OFX, previously known as USForex, is a subsidiary of OzForex, an online international payments services provider that has managed over 1 million transfers totaling the equivalent of over $84 billion AUD since its launch in 1998. It is currently one of the world’s largest foreign exchange companies, allowing customers from around the world to send money internationally in over 50 currencies to 197 countries.

OFX provides services for companies and individuals, offering competitive exchange rates and low to nonexistent transfer fees depending on the transaction amount. Transactions below $5,000 require a $5 transfer fee, and transactions exceeding $5,000 have no fees.

Sending money abroad with OFX begins with a simple registration process (at no cost) followed by a call from a OFX dealer to discuss the transfer details with the client personally and answer any questions the client may have. Once the account is set up, users can begin using any of the foreign exchange services offered by OFX, including money transfers, limit orders, recurring international payments, and forward contracts.

The OFX money transfer process begins by having the sender transfer the funds to OFX through Electronic Funds Transfer (EFT), and once OFX receives the amount, it then transfers those funds to the beneficiary. Depending on the countries and currencies involved, transfers typically reach the recipient a day or two after OFX receives the funds from the sender. For customers sending money from USA to India, the entire transfer process usually takes 2 to 4 days.

Another excellent feature of OFX is its mobile app. The free OFX app is the first international money transfer app, which allows customers to transfer money internationally, track their transfers, browse market rates, and set rate alerts all from their mobile device.

As a global leader in foreign exchange services, OFX is an excellent money transfer provider for individuals and companies seeking competitive exchange rates, unbeatable transfer fees, and multiple foreign exchange services when making international money transfers and payments.

USER REVIEWS

Carlos Garcia
Posted on June 27, 2019, 10:04 am

This company is a nightmare. A few weeks ago I set up an account with them. When I registered my OFX account I was in Spain. I made my first transfer and I needed to call them to verify the transfer. After my call verifying the information and my identity, I got an email confirming the transfer was scheduled. A few days later I got an email saying the transfer was cancelled because they couldn't get hold of me. A couple of weeks later after I got back home in the U.S. I called them to check why they have cancelled my transfer. I tried to set up the online transfer again by logging in to my OFX account and I couldn't make the transfer, so I called OFX and they said that now I had to verify my identity by uploading a passport or driver's license, and a bill that showed my address. I complied again and uploaded the required documents. For a week after uploading the required documentation, I didn't hear back from them so I tried to login and this time I couldn't not even login to my OFX account. I called them and they basically said that after internal review I was declined to use OFX. I asked why and no one could tell me just that I was rejected for no reasons. I'm giving them a 1 star review because they don't have a good system in place - standardized - to set up an account. Although it's easy to contact by phone customer service, each representative that you talk to has a different version of how to set up an account, etc so you don't get a clear process to follow. Beware that using this company can be a big waste of time. I suggest you use something else like transferwise, zoom, etc.

 
Olga Pomerbasch
Posted on June 20, 2019, 05:51 am

Customer support +1-8OO-648-162O --- - ---I initiated a large transfer with OFX and was unable to make the payment due to it being well above what the transfer limit that my bank allows with due to OFX being an “untrusted company” upon realising this I immediately sent my “account manager” an email informing them of this and asking for a suitable resolution. I heard nothing in reply for 5 days until a different “account manager” told me that I would need to pay the money ASAP or would be required to pay over $5000 AUD in penalty fees as the exchange rate had changed over that time. Somehow under the impression that their complete lack or customer service and lack of professionalism is in some way my responsibility. Now I am being threatened with legal action due to the transaction being incomplete

 
Ben Faulkner
Posted on January 31, 2019, 07:44 am

I initiated a large transfer with OFX and was unable to make the payment due to it being well above what the transfer limit that my bank allows with due to OFX being an “untrusted company” upon realising this I immediately sent my “account manager” an email informing them of this and asking for a suitable resolution. I heard nothing in reply for 5 days until a different “account manager” told me that I would need to pay the money ASAP or would be required to pay over $5000 AUD in penalty fees as the exchange rate had changed over that time. Somehow under the impression that their complete lack or customer service and lack of professionalism is in some way my responsibility. Now I am being threatened with legal action due to the transaction being incomplete through no fault of my own. Avoid this company at all costs especially when moving large amounts of money, there are lots of other companies that are more professional and also offer better rates. Absolutely disgusting.

 
Chandra
Posted on August 30, 2018, 07:13 am

I have used OFX, I made a transfer and without notifying me they cancelled my transaction. I was very disappointed and do not recommend to use OFX

 
Madhu
Posted on July 05, 2018, 02:57 am

There is a difference of the rate almost 1.5INR, from what showing on CompareRemit and actual OFX site. Not sure who needs to correct this. But this is misleading and wasting the consumers time.

 
Sundar
Posted on January 02, 2018, 10:07 am

can someone please provided referral link to shyamsapibm@gmail.com

 
Mo
Posted on October 16, 2017, 09:34 am

can compareRemit please stop putting OFx info ? Take today's example. The exchange rate is a whole 1.5 INR off ( less ) than all competitors. There is ghost of a chance this will be used.

 
sasi
Posted on December 29, 2016, 02:42 pm

Very Low exchange rates compared to other remittance vendors!! Low exchange rate + Transfer Fee + 5 Days to complete transfer all the above 3 points are biggest disadvantage. At least try to provide one of the above easy. come on guys!!

 
madan
Posted on December 26, 2016, 06:32 am

who will transfer if the rate almost 80 paisa less than other competitor rate? Very bad

 
brahmendra.v
Posted on January 01, 2016, 07:48 pm

I would like to try USforex. Can anyone provide a valid referral link to me. brahmadotcvatgmaildotcom

 

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