Save with OFX bank-beating rates

OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was 20 years ago, and we’re still driven by the same mission today.

So, what do we mean by "bank-beating rates"?

We take a fair approach to prices and work with an independent third party to review bank rates across multiple countries, and in multiple currencies. To make sure our prices are bank-beating, they conduct a monthly price comparison of OFX and 15 banking institutions across the globe.

Which banks are OFX rates compared with?

AU US CA UK
ANZ Bank of America CIBC Barclays Bank  
CBA Citi Bank HSBC Lloyds Bank
NAB JPMorgan Chase Scotiabank HSBC 
Westpac Wells Fargo TD RoyalBankofScotland/Natwest

The price comparison looks at how much it costs to send money internationally using OFX and each of the banks listed, between specified currencies on the same day.

What costs are being compared?

To make sure we’re comparing apples to apples, the price comparison takes into consideration the exchange rate, margin and fees. The cost is calculated on a single transfer in the following currencies on a specified date each month. It also shows the amount the recipient gets. 

$20,000 AUD to USD 

$20,000 USD to EUR 

£10,000 GBP to EUR 

$20,000 CAD to USD 


Savings are then calculated by looking at the average amount a customer would receive using the banks within each country and comparing this to the amount a customer would receive making the same transfer using OFX. 

The comparison savings provided is true only for the example given and may not include all fees and charges. Different currency exchange amounts, currency types, dates, times and other individual factors will result in different comparison savings. These results therefore may not be indicative of actual savings and should be used only as a guide.  

Who conducts the price comparison?

We use an independent third party, FXC Intelligence Ltd.  

Price comparison of OFX and 4 banks in Australia

What could you save using OFX vs. Bank?
Transfer AUD$20k to USD and you could get up to USD$574 more.
The comparison savings are based on a single transfer of AUD$20,000 to USD. Savings are calculated by comparing the exchange rate including margins and fees provided by each bank and OFX on the same day (16 November 2020). Pricing data is provided by an independent third party, FXC Intelligence Ltd. The comparison savings provided is true only for the example given and may not include all fees and charges. Different currency exchange amounts, currency types, dates, times and other individual factors will result in different comparison savings. These results therefore may not be indicative of actual savings and should be used only as a guide. The rate comparison chart is updated monthly.

Price comparison of OFX and 4 banks in the United States

What could you save using OFX vs. Bank?
Transfer USD$20k to EUR and you could get up to EUR€402 more.
The comparison savings are based on a single transfer of USD$20,000 to EUR. Savings are calculated by comparing the exchange rate including margins and fees provided by each bank and OFX on the same day (16 November 2020). Pricing data is provided by an independent third party, FXC Intelligence Ltd. The comparison savings provided is true only for the example given and may not include all fees and charges. Different currency exchange amounts, currency types, dates, times and other individual factors will result in different comparison savings. These results therefore may not be indicative of actual savings and should be used only as a guide. The rate comparison chart is updated monthly.

Price comparison of OFX and 4 banks in the United Kingdom

What could you save using OFX vs. Bank?
Transfer GBP£10k to EUR and you could get up to EUR€268 more.
The comparison savings are based on a single transfer of GBP£10,000 to EUR. Savings are calculated by comparing the exchange rate including margins and fees provided by each bank and OFX on the same day (16 November 2020). Pricing data is provided by an independent third party, FXC Intelligence Ltd. The comparison savings provided is true only for the example given and may not include all fees and charges. Different currency exchange amounts, currency types, dates, times and other individual factors will result in different comparison savings. These results therefore may not be indicative of actual savings and should be used only as a guide. The rate comparison chart is updated monthly.

Price comparison of OFX and 4 banks in Canada

What could you save using OFX vs. Bank?
Transfer CAD$20k to USD and you could get up to USD$298 more.
The comparison savings are based on a single transfer of CAD$20,000 to USD. Savings are calculated by comparing the exchange rate including margins and fees provided by each bank and OFX on the same day (16 November 2020). Pricing data is provided by an independent third party, FXC Intelligence Ltd. The comparison savings provided is true only for the example given and may not include all fees and charges. Different currency exchange amounts, currency types, dates, times and other individual factors will result in different comparison savings. These results therefore may not be indicative of actual savings and should be used only as a guide. The rate comparison chart is updated monthly.

Why choose OFX?

regulated

Regulated

We're regulated by United States Department of the Treasury Financial Crimes Enforcement Network.

global support team

Global support team

Our experienced support staff are in our global offices in Australia, USA, UK, Canada, New Zealand, Hong Kong and Singapore.

great rates

Great rates

We've got better rates and fees than the banks, and have securely transferred over $100 billion worldwide since 1998.