OFX - United States Reviews 163

It was pretty painless. I had to wire them the money because the limits were too high for them to take it directly out of my checking account. My bank wired the money that morning and I believe they received it and wired it to my foreign account in Canada the same day and it showed up into my account the next day. You can’t get any quicker than that!

I have used OFX for about 8 years and was happy. I did simple currency exchanges for inventory purchases. In the last year they have gone from 5 stars to less than 1 star with the changes. Nothing works as it used to, much more complicated. It seems they changed their website and business model to include many, many NEW services that I don't need, and they no longer can hadle simple currency exchanges. Turned from super smooth to super crap.

My experience with OFX has been extremely frustrating and disappointing.

I initiated a transfer on the 20th of May and carefully completed all of the required information. Shortly afterward, I received an email stating that my transfer booking did not have a receiver listed and that I needed to rebook the transfer. I followed their instructions and responded to confirm the rebooking. Unfortunately, this resulted in a duplicate transfer being created, and both transfers have since been held up for reasons that have never been clearly explained.

Over the course of the following week, I contacted customer service multiple times. Each representative reassured me that everything looked correct and that the transfer would be processed. Despite these assurances, the promised transfer date came and went, and the funds were never received. The status on the website now simply shows the transfer date as "TBA," with no meaningful explanation or update.

When it became clear that the transfer was not moving forward, I requested that the funds be returned to me. I was then informed that OFX required proof of the transfer from my bank. I promptly provided the requested documentation three days ago, yet I have received no follow-up calls, no updates, and no communication regarding either the transfer or the refund request.

The most frustrating part of this experience has been the lack of transparency and communication. I have spent considerable time following instructions, providing documentation, and contacting customer service, only to receive repeated assurances without any resolution. At this point, my funds remain tied up, and I still do not have a clear timeline or explanation.

Based on my experience, I cannot recommend OFX. Delays can happen, but the lack of accountability, inconsistent information, and poor communication have made this an unacceptable experience.

I really like having a telephone number directly to OFX customer service. Too, payment transfer is fast.

Excellent exchange rate. Very pleased with platform and user interphase. Great customer service. Connor was great to work with and always available

Not entirely sure what premium I am paying in the conversion but certainly better than my bank. I think it’s about 1%. Only snag is they don’t have enough people answering the phone at customer service. I’ve been asked to update account details but gave up after long holds twice. Other than that they make it very simple, and they are thorough and fast.

Ofx resolved the issue after me filing the complaint, credit to an OFX employee Ashley.

Fast transfer. Good rates. Excellent service.
Needed to transfer funds from US Bank to Spain for a house purchase. OFX offered a far superior rate which on a very large amount was significant.

Fergal Cunnane at OFX was fast and extremely professional booking the transfer in minutes and making sure the transfer got through to Spain OK (funds in my Spanish bank the next day!).

Faultness and efficient.
Couldnt ask for more.

IT was a disaster. While the agent I worked with was helpful, at the end, the back office and compliance office were incompetent and slow. I set up to transfer a large sum in dollars to euros, send all the documents required including a bank statement which showed my name, my wife's name and clearly indicated that the joint checking acct was in a Trust. No flags were raised. I then transferred the money from my bank to OFX's bank (NYC) were it sat while I received conflicting emails stating that the money was on its way to its receiver in Italy while being told that I needed to provide more information regarding my bank. I was then told, after about 10 phone calls with them (each time an endless wait with a faulty 'call back system' that sometimes works and sometimes doesn't) that all was in order. Then I was told, a few days later that they could not accept the money from a Trust but needed it to be from a purely personal account. I was not in a position to create a new account in time to make this transfer. As I write this, the money is now on its way BACK to my account and I will need to make this transfer using an alternative method, however the dollar-euro exchange rate has now changed resulting in the fact that this will cost me personally 5000 to 8000 dollars more. Very dissappointed.

Very simple, easy to understand process for currency transfer. Total transparency.

Incredibly cumbersome. I created account online, made a call to confirm all details of the account which I just created. Next I assigned my bank account, confirmed it, provided all detail of what how much and when I will be sending. I requested first transfer - call to confirm data, next day - email to send bank statement... I gave up. This is not security, this is madness.

Handled without a hitch, significantly higher transfer amount and effectively next day receipt of funds, could not fault the process

These guys are scammers. They just want your identification and tax documents and then they disappear. If you need to send money, use Wise, paypal, xoom or honestly even Western Union is better than these frauds. You can tell the positive reviews are fake and a quick look at their linkedin shows all fake photos too. Even their San Francisco address is fake, i checked out the building and there is no such office there.

The team were very helpful and the transfer went through seemlessly in a day. I had tried a transfer with another company for a smaller amount and after 5 days the money still wasn't transferred.

The app and website are reliable, functional, and easy to navigate. The exchange rates are competitive and there are several options to transfer funds between countries with low or no fees.
I’ve used OFX for over 10 foreign exchanges and will continue to do so.

I have had two transactions blocked for over a month now. I have sent all the requested documents, and my agent keeps telling me that he is waiting for confirmation from his manager every time I send him an email to get some news. When I call the hotline, I am always told that neither my agent nor his backup are available, but that they will call me back in a few minutes. This is the third time I've been told this, and no one has ever called me back in over a week.
This company is anything but reliable. They will freeze your funds and keep you waiting forever.
Avoid at all costs!

Absolutely fantastic service , THANK YOU

Fantastic telephone support by all the staff I contacted. One of the best ways to transfer funds reliably and quickly. Exchange rate was good for the first transfer but less so subsequently.

Terrible they old the money $23,0000 since November 26 and until do day I didn’t get the money back

It's hard to describe just how much has changed with this company. I used them for 10 years, sending about $1 million back and forth to Spain (home purchases, expenses) and somewhere along the way things have gone off the rails. I strongly recommend you DO NOT use this company. Their compliance team is going to drive them out of business. Horrible, horrible, horrible experience.