A question different people have asked me repeatedly is whether they should transfer funds overseas through FrontierPay (previously known as The FX Firm) or OFX. Unfortunately, the answer is not simple and can vary according to individual requirements. The good thing is both companies offer better deals in comparison to the large banks.
Turning to Trustpilot to find out what customers are saying about online businesses can give you valuable insight. Here is what I found when I took the OFX vs. FrontierPay comparison to this platform. OFX achieves an average score of 9.2 out of 10 and FrontierPay’s score stands at 9.6 out of 10.
I am breaking this FrontierPay vs. OFX comparison down into multiple sections so you know exactly how these companies rate against each other:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Transfer Fees
When compared to the fees that most banks charge, using the services of FrontierPay or OFX can lead to noticeable savings, especially when transferring large sums.
- FrontierPay charges fees based on the country you are transferring funds to and the amount.
- If you are transferring regularly or large sums. Call FrontierPay to explain your situation and understand how they can help you.
- Transfers through OFX that exceed predetermined limits do not attract any fees.
- If you pay in U.S. dollars, transfers below $5,000 attract $5 as fees.
- With payments in Euros, you have to pay a €10 fee if you transfer less than €5,000.
- For payments in Great Britain pounds,
transfers less than £3,000 attract £7 as fees.OFX (UK) or UKForex has removed all fees associated with GBP resident transfers!
- If you are transferring less than AUD $10,000, OFX charges AUD $15 as fees.
- In the case of Japanese yen, transfers below ¥1,000,000 attract ¥1,500 as fees.
- Get the latest information directly from OFX.com Fees FAQ.
Ease of Use
Opening an account with FrontierPay or OFX is simple. Once you submit your online application, the company works to verify your details. After this process is complete, you can begin transferring funds.
- You can initiate fund transfers through FrontierPay online and over the phone.
- All registered customers get access to dedicated personal dealers, who are available 24/7. You can contact your dealer to get a live quote.
- While the company does not provide apps for mobile devices, its website auto-scales to the screen size of your device.
- The OFX Group operates dedicated websites for different countries in the form of UKForex, USForex, CanadianForex, and NZForex. The transition of these sites to the global OFX website is underway.
- You can make payments to OFX via electronic bank transfers.
- Residents of Australia can make payments via BPAY.
- The company provides apps for devices that run on Android and iOS.
If you are looking for website access in a foreign language, this OFX vs. FrontierPay comparison is a draw – access to websites of both companies limits to English. Prominent fund transfer companies that rate well on this front include Currencies Direct, CurrencyFair, TransferWise, and World First.
Regular Overseas Payments
Both FrontierPay and OFX, let you set up regular payments easily.
- Who is OFX.com and would you transfer money with them?
- Read more with the OFX Review.
- Learn how to apply the OFX.com Coupon or promo code.