USForex Review

OFX (prev. USForex) Review

Launched in 1998 OFX, previously USForex in the USA, is one of the world’s leading international payments and online foreign exchange services. The company serves corporate clients as well as individuals in the United States, is regulated by FinCEN, and offers competitive foreign transfer exchange rates combined with a high level of customer service available 24/7.

Fee: ? No OFX fees for FXcompared users.
Bank Partner: ? Wells Fargo, BNY Mellon
Speed: ? 1-3 days
Country Notes OFX is strategically positioned across Australia, USA, UK, Canada, New Zealand, Hong Kong, we bring global expertise to local businesses and communities worldwide.
Local settlement: ? Worldwide
Transfer methods ? Phone and online transfer services
Regulated By: ? FinCEN
General Notes Leveraging 17 years of expertise in international currency exchange, we offer best-in-class service and assistance 24/5.

The pros and cons of using OFX (US)

OFX (US)

OFX US Products for Individuals

OFX’s services for individuals allow customers to make money transfers or international payments at the time and with the exchange rate that best meets their needs. For customers who wish to transfer money, there are three methods they can choose from: spot orders, forward contracts, or limit orders. Spot orders are executed immediately. The OFX currency specialist will do a forex comparison to find the best foreign exchange rates available. Once they’ve located the best rate, they will execute the transaction on behalf of the client.

Forward contracts give customers a way to lock in a currently favorable exchange rate, even if they do not need to send money immediately. Once the rate is secured, the customer can execute the transfer at a future date. Forward contracts give customers the ability to protect their assets from fluctuations in exchange rates. Customers can also choose a limit order, which gives the customer the ability to specify the exchange rate they want. The USForex currency specialist will only execute the transfer when the rate reaches the customer’s specified range. If the customer has a large amount to transfer, or does not have an urgent need to send the money immediately, a limit order can be a good choice, as it allows the customer to execute only when they achieve the exchange rate they want.

Automatic payment plans and currency transfers are another service offered to USForex customers. By establishing an automated schedule of payments or transfers, customers can save time and money on their fx international payments or transfers. These services can be used for any type of payment or transfer need, such as rental or mortgage payments, school fees for relatives studying abroad, subscription fees, regular payments on a loan, or any other type of ongoing payment. When setting up an automated plan, customers can choose a fixed regular payment, which allows them to lock in a favorable exchange rate for a period of payments. This can provide protection against currency rate fluctuations and is good for a maximum of 12 months. When the customer’s 12-month fixed payment plan is about to expire, a USForex specialist will contact the customer to either re-establish a new fixed payment plan, or to change or end the plan.

OFX US Products for Businesses

OFX offers businesses and corporate clients money transfer, international payments, and risk management services, 24-hour access to cutting edge technology systems, and the highest level of customer service. OFX provides its business customers with a dedicated FX specialist, currency analysis tools, and deep understanding of the foreign exchange marketplace. Because OFX has access to interbank markets, they can offer favorable exchange rates and lower fees than are typically charged at a bank.

Business clients are better able to manage their exposure to currency exchange risk by using one of the three transfer services offered by OFX: spot contracts, forward contracts, and limit orders. OFX also provides market tools and ongoing support from forex market specialists to help businesses stay on top of their international market exposure.

Business clients can choose to establish automated payment plans for their ongoing business payment needs, such as employee salaries, subscription fees, vendor supplies and services, and any other type of regularly-occurring payment. Fixed and regular automated plans are easy to set up and can save clients valuable time and money in the long run.

About OFX

OFX was launched in 1998 and is one of the leading international payments and online foreign exchange services. The company has locations on six continents, with over 200 employees.

Amount Received £ 10,000.00
£ 38.48 Avg. Saving vs. Banks ?
EURn/a
USD13,315.43
CADn/a
AUDn/a

Compare Other Currency Rates

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Other International Money Transfer Quotes

Moneycorp

?
Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

More InfoLess Info

One-off payments | Regular payments | Great rates | Safeguarded customer funds

Amount Received
USD $13,016.39
GBP £214.73
saved vs. banks

OFX (UK)

?
Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

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OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

Amount Received
USD $12,954.75
GBP £167.73
saved vs. banks
Bank Beating Rates

Currencies Direct

Call us0203 018 1318

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More InfoLess Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,970.49
GBP £179.73
saved vs. banks
Bank Beating Rates

TorFX

?
Est. 2004

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More InfoLess Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $13,049.18
GBP £239.73
saved vs. banks

Global Reach (formerly FC Exchange)

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

Amount Received
USD $12,996.72
GBP £199.73
saved vs. banks

Western Union Business Solutions

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
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The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
Amount Received
USD $12,918.03
GBP £139.73
saved vs. banks

WorldFirst

?
Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More InfoLess Info

Transparency and security | Great customer feedback rating from Feefo

Amount Received
USD $13,049.18
GBP £239.73
saved vs. banks

RationalFX

?
Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
Amount Received
USD $13,003.28
GBP £204.73
saved vs. banks

Currency Solutions

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Currency exchange specialists ranking No.1 on Trustpilot for the past two years

Amount Received
USD $13,008.52
GBP £208.73
saved vs. banks

Smart Currency Exchange

Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
Amount Received
USD $13,003.28
GBP £204.73
saved vs. banks

Rates From The Average UK High Street Bank

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

Amount Received
USD $12,683.02
No saving vs. banks

PayPal

?
Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

More InfoLess Info

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

Amount Received
USD $12,655.74
No saving vs. banks

Other Services

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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.