CurrencyFair vs OFX

Is CurrencyFair better than OFX?

Although both OFX and CurrencyFair are well-proven, regulated and effective money transfer companies, with bank-beating rates and fees, and much quicker delivery, than banks. However, there are some distinctive differences between them. The unique peer-to-peer system allowing the lowest exchange rates possible, lower fee and a nominal minimum limit make CurrencyFair a better choice between the two.

Established
Established
2009
2005
TrustPilot Rating
TrustPilot Rating
Office Locations
Office Locations
Ireland, Australia, UK
UK, USA, Australia, Hong Kong, Canada, New Zealand
REGULATION
ASIC (Australia)
ASIC (Australia)
FCA (UK)
FCA (UK)
CBI (Ireland)
CBI (Ireland)
Other
Other
AFS
FinCen
SAFTEY
Two-factor payment authentication
Two-factor payment authentication
Information stored in a secure data center
Information stored in a secure data center
Biometric systems
Biometric systems
Segregated customer accounts
Segregated customer accounts
256-bit website encryption via SSL from VeriSign
256-bit website encryption via SSL from VeriSign
FEES & CHARGES
Transaction Fee
Transaction Fee
Fixed €3 fee
No Fees from 5000 USD/EUR/GBP and up Or Low Fees ($5-10 on average)
Exchange Rate
Exchange Rate
Mid-market
Mid-market
Other Fees
Other Fees
Minimum Transfer Amount
Minimum Transfer Amount
€/£/$8
$250/£100/€250
SENDING & RECEIVING OPTIONS
Scheduled & Recurring Payments
Scheduled & Recurring Payments
Delivery Speed
Delivery Speed
0 - 2 Days
0 - 2 Days
Countries
Countries
160
197+
Currencies
Currencies
20+
17
CUSTOMER SUPPORT
Phone Assistance
Phone Assistance
Email
Email
Live Chat
Live Chat
24/7, 7 days/week
24/7, 7 days/week
BUSINESS TRANSFER FEATURES
Bulk/Mass Payments
Bulk/Mass Payments
FX Hedging
FX Hedging
Risk Management
Risk Management
TRANSFER METHODS
Bank Transfer
Bank Transfer
Credit/Debit Card
Credit/Debit Card
Personal Transactions
Cash
Cash
Cheque
Cheque
Other
Other
Android Pay, Apple Pay, Sofort
ONBOARDING SIMPLICITY
Onboarding Time
Onboarding Time
Within minutes
Within minutes
eKYC
eKYC
Ease of Use
Ease of Use
Easy
Easy
CURRENCY EXCHANGE FEATURES
Real-time Marketplace for User-Defined FX Rates (bids)
Real-time Marketplace for User-Defined FX Rates (bids)
Limit Orders
Limit Orders
Forward contracts
Forward contracts
SAVINGS FEATURES
Free multi-currency wallet
Free multi-currency wallet
Choose your own rate
Choose your own rate
Rate alerts
Rate alerts
UNIQUE FEATURES
Peer-To-Peer Direct Transfers
Peer-To-Peer Direct Transfers
“Express Transfers” within 1 day
“Express Transfers” within 1 day
First Transactions Fee Free coupon
First Transactions Fee Free coupon
3
2
MOBILE TRANSFERS
Full Featured App
Full Featured App
Mobile Adaptive Website
Mobile Adaptive Website
App UX
App UX
With OFX, transfer money more efficiently

80% of OFX's payments are processed the same business day from receiving the funds

 

With OFX, transfer money more efficiently

80% of OFX's payments are processed the same business day from receiving the funds