OFX

Dreadful – I requested an account. I told on phone it would be same day. Sent documentation but still not set it up after a week. I suspect OFX may be an identity scam. Do not trust them with your documentation!!

Everything about OFX is terrible. The account opening process is never ending and tedious. They keep coming back wanting more and more information. It is easier to get a bank loan or to open a brokerage account than to open a silly OFX account. I strongly suggest you go elsewhere. OFX appears to be a business run by compliance.

Absolutely Disgraceful Experience – Avoid OFX Australia I rarely leave reviews, but my experience with OFX Australia was so appalling it demands attention. I trusted them to handle a straightforward international money transfer from Australia, and they failed spectacularly. Not only did the transfer never reach its destination, but it took four… Read more

full weeks—yes, an entire month—for them to return my funds. During this time, communication was vague, evasive, and painfully slow. I was left in the dark, chasing updates, with no accountability from their team. Their so-called "support" felt more like a black hole of canned responses and empty promises.

This wasn’t just inconvenient—it was financially disruptive. OFX’s incompetence cost me time, money, and peace of mind. For a company that claims to specialize in global transfers, their service was anything but professional.

If you value reliability, transparency, and basic customer service, look elsehere. OFX Australia has proven to be unreliable, unresponsive, and utterly untrustworthy. Stay away from this company at all costs!!!

Dr M. R.

OUTSTANDING! Have tsfrd multiple occasions over 3 years to UK, Canada. Funds transferred within 24hrs of receipt of funds by OFX. Prompt responses, even received call once where there was a hitch, which wasn't an OFX problem. Even receive email when change of rates. All that for a cheap fee. Show reply

Good app, good rates, reliable – Simple, reliable ( but not instant!) I have no complaints, it's worked really well for me for the past 5 years. Exchange rates have been competitive too. Customer service was good, although I've only needed to call them twice because it nearly always works fine. Setup and the first transaction took a bit longer, but once set up it's always run smoothly. (It can take a few days to make transfers, but I don't see anyone else doing better) Show reply

Professional, reliable and fast experience – I don't know which company most users here are writing about. I have used OFX intermittently over the last decade and never had an issue. Last transfers from Germany to Oz usually within one to two business days. Rates are good too.. Show reply

Trying to signup with OFX is painful. Have to keep chasing them as they don't get back to you (10 business days later), then straight away they respond and come up with another requirement. After 3 weeks, I gave up and went elsewhere.

Hi, I thought it would be a simple Transfer A$390..... I have been battling OFX for 2 days now, providing all my personal details, all my recipient personal details.... I bank transferred BSB the money to OFX which they received and acknowledged in 12 hours... still they are frustrating by not responding.. always saying it's under review it will take at least 24h hours... Show details

Moving away from this platform. Used them for sometime and was ok but lately I've received authenticator codes when im not trying to login. Investigated with them and followed up and no reply. Called them to inquire about it and it seems the guy who picked up the phone was the least interested. Last time I transferred money I was worried it… Read more

reaches its destination but from their behaviour I know if a fraud happens they would have zero accountability. Sticking to the banks from now.

Used to be great. Supereasy to use and no hidden fees. Now they updated their platform and it is a nightmare to use. You need to upload money to a personal account with them. Also, the amounts you send is not what is received because they use another finance company called CurrencyCloud and not a bank, so intermediate bank needs to be involved and they take a fee from your money. We'll probably move to Wise in the coming weeks.

After being a satisfied customer for many years the service and support now is dreadful. My last two transactions have resulted in OFX holding my money in something called middle management. You can not talk to anyone there. I have often paid cash into NAB to complete my transactions but am now told that you have never been able to do this. What… Read more

was in the past simple is now a nightmare. They are holding onto my cash and are unable to complete my transfer . Do yourself a favour and keep away from OFX.

If I could provide a fraction of a star as a rating I would do so, but unfortunately the lowest I can rate is one star. To say that the level of customer service is appalling is an understatement! Their recorded advertising during a call uses words like, "fast service", "experts", "rest assured", etc., all of which boils down to complete and utter… Read more

misrepresentation.

Here are the facts: we submitted a transfer on the 23rd July, and we received an email saying that everything has been received, and no further action is needed on our part. Then, a few days later we received an email and a phone call to ask for proof of income. These details had already been provided, but we obliged anyway, and uploaded the required documentation. At that point we received confirmation that the documentation had been successfully uploaded. We then received another email saying that we'd obviously forgotten to provide the required documentation. Another long, frustrating phone call, where we're told that they personally can't view the documentation, and they can't transfer us to the team who can. They don't know when that will be actioned, and they can't assure us that they now have everything they need.

At this point our frustration levels are through the roof, so we request the whole thing to be cancelled. We decided to use OFX because they boasted about how quick they are, but more than a week later, and our money still hasn't even left Australia! The money was intended as a surprise birthday gift for a nephew, but since it's taken more than a week, the deal for which the money was intended has expired, and our nephew has lost out on something he's always wanted.

But wait! There's more! After we requested cancellation, we were then contacted again asking to prove that that the money came from the same bank account that we're asking it to be refunded to! It gets worse: even after providing that, we get yet another phone call saying that the format of the statement is wrong!

All I can say, to anyone reading this, is this: whatever you do PLEASE don't ever consider using OFX! Seriously! It's WAY easier transferring money through your bank! I totally get that money laundering has escalated, and most financial insitutions have had to tighten their controls. But if you're going to do that, OFX, don't do so at the expense of customer service!! Employ people who can actually help, who are empowered to make decisions, and who can resolve things as the first point of contact! If you're telling me, as the customer, that the format of my bank statement is wrong, then when I phone the call centre, put me through to someone who can see my bank statement and who can also explain to me what the issue is! Don't tell me that you'll send a message to the correct team and they'll get back to me!!

I mean, COME ON!!! For NINE DAYS you've had our money, and we've done absolutely everything that has been asked of us! This is just totally unacceptable, and we'll be lodging an official complaint with AFCA.

They held my money for about a week until I contacted them and asked what was going on. They made up an excuse about a public holiday, which would account for one working day but not the other four. I did a subsequent transfer with Wise, which was completed quickly and at a better rate. Never again with OFX

Absolutely apalling transaction. OFX failed to pay our recipient, a resort in Fiji, and it took over a month to recover our funds, minus $1160. We used Visa instead, and got a good exchange rate. The Visa transaction was instant and honest. Never use OFX.

Used them once previously for a transfer AUD to NZD, however that was 2 years ago. Was organising to do another and after multiple emails with 3 different people and getting stuffed about and them not answering their phone I went with TOR FX which gave a better rate and great service. Dealing with OfX Is like talking to a shonky Indian call centre. Avoid at all costs.

Avoid if you need the funds – Transfer taking over ten days so far. They used to be good but looking at my experience and that of others in the past few years, they've gone majorly downhill. Will have to switch to another company like Wise.

OFX intermediary bank charged 27 euros out of 100 euros – I've added a new recipient after logging into my OFX account, then created an initial deal of 100 euros to test the transfer before I go with bigger amount. After the transfer was done, I had checked how much has been transferred, and it was only 73 euros. I could not believe that intermediary bank- RAIFFEISEN BANK INTERNATIONAL AG VIENNA took 27… Read more

euros out of 100 euros. The beneficiary bank told me that OFX sent STA code to intermediary bank to let them charge me for the transfer and they really charge me well - 27 euros, OFX should use OUR code to not let intermediary bank to charge customers for the transfer. I sent several emails to OFX and no responses to my email. The customer representative called me and told me that they do not have control how much intermediary bank charge, which is unacceptable , we as customers do not have option to choose intermediary bank and OFX gives a false impression that their exchange rate is a good rate because end result could be much worse than using other available companies in Australia that are on paper not as good as OFX. Last year I've used OFX and more than happy, this was my first transaction this year, not sure if the business model has been changed

10 years with ofx now disappointed – Ive been with ofx now for 10 years the latest transfer has taken 6 days deposited in to ofx still no show in country from australia to nz, not the 1st time its late, when speaking to them on phone told its going through, then another e-mail, then speak again by phone then again assured everything is good, again no transfer, my friend strongly… Read more

suggests going to wise, the reason i have stayed with ofx is i been here 10 years , but not a happy customer now! Check the reviews before deciding to use this company, it speaks for itself.

Service being ruined by poor compliance software – maybe an LLM gone mad? – Their service is being ruined by a compliance system gone mad. There is nothing wrong with following "know your client" rules – they are a very good thing. Still, last time they decided I was being fraudulent by using the new bank transfer details *they* sent me, this time they decided I had a joint account when I do not. I suspect that they have… Read more

poorly coded compliance software, for which the client is paying the price. If you want your money promptly, probably best to just send it from your bank. They know who you are and are less likely to get caught up in these hassles. A lot of banks have lowered their transfer fees, too. I wonder whether an LLM is being used in this instance.

Terrible experience with OFx – Transferred my money to OFx via Bpay over 4 weeks ago and despite sharing many supporting documents have had no response from OFx customer service on the status of the transfer. Money still hasn't been sent to my recipient account. and I am provided with incompetent responses by the compliance and customer service teams. Wise or XE are far better options for FX transfers

Over use of 2FA is annoying – OFX is one of those companies that overdo the security to the point it's unworkable. Many clients check rates several times a day, a pain when you are logged out every 10 seconds and need a 2FA. I have several banks that only need a 2FA every month. The overuse of 2FA is silly as you can't actually send money from OFX. Try another provider if you do frequent FOREX. Show details

The WORST – Had my account under a week, not in Australia but in the US. Had to strip completly naked for a 1200 USD transfer to Italy. I don´t know if you guys have WIZE in Australia but if you do, choose them!!!!!!!

Beware if it doesn’t work it goes really wrong! – Unfortunately I have not had a very good experience with OFX after using them for all my international transfers I won’t be using them again, I started a transfer 32 days ago the money was taken from my account immediately and paid via Bpay it took a further 3 business days for the transfer to be complete, that was 28 days ago now and the… Read more

recipient bank is still saying no transfer has been made!! Although OFX have supposedly initiated a trace and recall there is no update as to where my money is or if it will even be returned! Very disappointed and unsure how to resolve this as each time I call they say I just need to wait for a response from the recipient bank! My recipient spent 2 hours at the bank today trying to sort it out with the manager to no avail! Be aware if you are going to use OFX the help is not there when there is a problem and the rates weren’t any better than other companies and I only used them as I already had an account set up, but will definitely not be using them again!

Very happy with the transfer – I transferred money from my stock broker to a US account and then onto my Australian account. The transfer took 2 business days and was very easy. OFX kept me updated as the money moved. The fees were reasonable but not as good as Wise but I chose them as they're an Australian company. I would definitely recommend them for a hassle free transfer. Show details ·  1

Tricky with third party – If a third party is sending you money, you will have to rely on its goodwill. To justify the legality of the transfer, a fair bit of informations about the sender and the transfer (bank logo !!?) will have to be forwarded to OFX before you can access your money. If the sender is a bit slack or could not be bothered to abide by those stringent… Read more

requirements, the money would be either sent back or you just might have to forfeit it. This should be mentioned before you decide to sign in with OFX, as a normal bank transfer is so much easier and a lot less stressful.

Used to be good but it's time to ditch them – I used to get good rates and hassle free transfers. Recently my account was blocked for some bizarre reason even though they have all the necessary info. Anyway I wanted to do a transfer now and I see that the account is available again but the rate is lower than what NAB and CBA are offering and zero fees with banks. Enough said...

Avoid at all costs! – Thought I would try OFX to transfer money to my son in the UK and sadly wish I hadn’t. It is a slow, cumbersome and frustrating experience. Money sent at the same time via my bank has already arrived, whereas I am still trying to get a payment sent via OFX. It took ages for the funds to transfer via BPAY, and now the payment has been declined due… Read more

to the sort code being incorrect (but it definitely isn’t after double and triple checking) After numerous phone calls was advised they couldn’t send the money to the bank in the UK so offered to cancel the transaction, however I had to send them proof that the money deposited was mine before they will refund! Despite sending copious screen shots from my bank showing the deposit they still keep repeating themselves and asking for the same info. They won’t give me my money back! Looks like it’s time to get ASIC and the Financial Ombudsman involved. Seriously dodgy company - stay away at all costs unless you want them to steal your money! Ignore any repose you see from the company when they reply to this - also put a review on another site where they said a supervisor would reach out - still waiting to hear from them!

Blocking your payment for no reason – It's good when it works, but it normally takes like 4 days to send the money and on top of this, they can just block your payment for whatever reason. I have made the payment on the 14th of September and they called me 4 days later saying they needed from us proof of payment, so that they can check which account the money comes from. I explained I… Read more

needed the money to be released immediately, because I had container arriving to the port and I would have to pay storage charges, but they don't care. It's been a week now. I keep calling them every day now, but the customer service told me "there was nothing they could do". And in the review response the write "I am sorry" as if that was solving anything. So, you decide if you need such service. It was my last payment.