OFX is an Australian based money transfer provider that delivers online payments to 80 countries. It is a cost-effective means of sending and receiving international payments. The company does not charge any transfer fees. It takes a relatively small percentage on top of the mid-market x-rate.
In the case studies used for this review, its average markup was 1% or less, depending on the currency pair and the amount. This makes it one of the most practical currency exchange platforms for businesses who trade with currencies and make regular international payments.
OFX is geared toward corporate and eCommerce businesses and has a minimum transfer amount set at $1,000 with no limitations on amounts sent. Its average delivery speed ranges between one to four days. It is a bank-to-bank delivery system, and clients fund the transactions via local wire transfer or direct debit.