When it comes to OFX or Currencies Direct, the decision to go with one or the other often boils down to the money the recipient stands to receive. However, since competition in this field is growing, you have the luxury of picking a fund transfer company that caters to your specific requirements.
Most users of these companies have positive things to say about their experiences, as you can see if you take the Currencies Direct vs. OFX comparison to Trustpilot. While the average score of Currencies Direct is 9.1 out of 10, OFX is not far behind, at 9.0 out of 10.
Read the different sections of this OFX Vs Currencies Direct comparison to determine which of these fund transfer companies suits you best. Those include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Fund Transfer Fees
In this section of the Currencies Direct vs. OFX comparison, the scale seems to favor one company. However, focus primarily upon the money the recipient stands to receive through each of them to identify the better deal.
- If you transfer more than a predetermined limit, you pay no fees.
- The currency in which you initiate the transfer affects the fees.
- When transferring less than USD $5,000, you are charged USD $5 in fees.
- If the transfer amount is less than €5,000, a €10 fee applies.
If you transfer less than £3,000, OFX charges £7 as fees. Fees no more! UKForex or OFX (UK) has removed all fees for GBP transfers.
- For transfers below AUD $10,000, you pay AUD $15 in fees.
- If the transfer amount is below ¥1,000,000, a ¥1,500 fee applies.
- Currencies Direct processes up to 90% of its transfers without assessing any fees.
- If any of its services do generate fees, you will know in advance.
- FAQs listed on the Currencies Direct website provide more information.
Ease of Use
Learn about aspects such as payment methods and language options in this section of the comparison. To register, you submit an online application. Once the company you apply with verifies your details, it activates your account.
- Access to the OFX website is offered only in English.
- The OFX Group operated dedicated websites for residents of different countries. The websites included NZForex, UKForex, USForex, and CanadianForex.
- The transitioning of these websites to the global OFX website is now complete.
- As an international customer, you can pay via electronic bank transfers.
- From Australian residents, OFX accepts payments via BPAY.
- The company provides apps for iOS and Android devices.
- You can access the website of this fund transfer company in English, Spanish, Italian, French, Swedish, Portuguese, Norwegian, and Chinese.
- Acceptable modes of payment include electronic bank transfers, direct debits, debit cards, and checks.
- You can use Currencies Direct apps with Android and iOS devices.
Regular Overseas Payments
Irrespective of whether you use the services of OFX or Currencies Direct, setting up scheduled transfers is easy.
- Learn how to apply the OFX.com Coupon or promo code.
- Compare TransferWise and OFX side by side.
- Read more with the OFX Review.
- Read updated OFX Coupon post.