- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
Which overseas money transfer service comes out on top, WorldRemit or OFX? Both companies have done rather well in recent years. By offering noticeably better deals than banks, they continue to find an increasing number of takers.
Any easy way to find out how customers feel about any online company is to look at its Trustpilot score. This is what I did for my WorldRemit vs. OFX comparison, and the results were not surprising. Customers of both companies rate their services well. While OFX manages to get 9.0 out of 10, WorldRemit scores 9.6 out of 10.
Since both companies provide reliable services, choosing between them requires that you consider your individual needs first. Run through the different sections of this comparison to select the company that suits you best:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Overseas Money Transfer Fees
If you want to avoid the typically high fees that most banks charge to process overseas fund transfers, you can choose either WorldRemit or OFX. Before deciding between the two, note how much money the recipient will receive at the end of the transfer.
- If the transfer amount exceeds a given limit, OFX does not charge any fees.
- The fee-free limit and fee varies according to the currency you use to make your payment.
- With U.S. dollars, you have to pay a $5 fee if you transfer less than $5,000.
- If you are paying in Euros, transfers below €5,000 attract €10 as fees.
If the payment is in British pounds, a £7 as fee applies on transfers below £3,000. UKForex or OFX (UK) has removed all fees associated with GBP resident transfers.
- With Japanese yen, a ¥1,500 fee applies on transfers less than ¥1,000,000.
- If you pay using Australian dollars, transfers below $10,000 attract $15 as fees.
- The transfer method has a bearing on the fees you have to pay. For example, a transfer to a cash pickup center will cost more than a bank account deposit.
- You can use the WorldRemit calculator to find out how much you have to pay in fees, depending on the destination country and the desired transfer method.
Ease of Use
If you need website access in a foreign language, this OFX vs. WorldRemit comparison favors one company over the other. Registering with both companies is easy – you only have to submit simple online applications. However, you cannot start transferring funds until the verification of your input is complete.
- You can access the WorldRemit website in English, French, and Spanish.
- You can pay via debit cards, credit cards, and electronic bank transfers.
- Other region-specific payment methods include iDeal, SOFORT, Interac, and POLi.
- WorldRemit provides different transfer methods depending on the destination country.
- Methods offered include bank account deposits, transfers to cash pickup centers, home delivery of cash (only in Philippines), mobile money, and mobile airtime top-offs.
- You can use WorldRemit apps with iOS and Android devices.
- You can access the OFX website only in English.
- Dedicated websites for different countries operate under the OFX group. These include USForex, UKForex, CanadianForex, and NZForex.
- The transition of these websites to the global OFX website has begun.
- OFX accepts payments via electronic bank transfers.
- If you are a resident of Australia, you can pay via BPAY.
- OFX provides apps for iOS and Android.
Regular Overseas Payments
If you wish to make regular transfers, choosing between these two companies is easy. While OFX lets you set up regular payments, WorldRemit does not.
- Want to know more about OFX.com features?
- Redeem and activate your exclusive OFX.com promo code for free transfers.
- Who is OFX.com and would you transfer money with them?
- Who is similar to OFX.com?