Moneycorp vs OFX Comparison

Moneycorp, established in 1979, has built a reputation for its extensive range of currencies and global reach, serving customers with over 120 currency options and a strong presence in various countries.

On the other hand, OFX, founded in 1998, prides itself on providing competitive rates and no or low fees for international transfers, catering to over 300,000 clients across 55 currencies.

This article delves into a detailed comparison of Moneycorp and OFX, highlighting their features, services, and how they stack up against each other.

Customers

Company NameMoneycorpOFX
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MoneycorpOFX Review
Customer rating4.3/54.3/5
# Rating Customers6,300 on Trustpilot6,200 on Trustpilot
Top 3 Pros
  • Exceptional customer support
  • Zero fees for online transfers
  • Wide range of currencies
  • Free to open account
  • Fee-free transactions
  • Intuitive website design
Top 3 Cons
  • Fees for phone transfers
  • Limited to bank transfers
  • Slower transfer speed for some routes
  • Transfer fees for small amounts
  • Limited funding options
  • No cash pickup option

Availability

Company NameMoneycorpOFX
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Office locationsUK, Spain, France, Ireland, USA, and moreAustralia, USA, UK, Canada, New Zealand, Hong Kong
# Currencies120+55+

Security

Company NameMoneycorpOFX
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Regulated byFCA, FinCEN, and othersFCA, ASIC, FinCEN, and others
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FANot specifiedNot specified

Limits and Fees

Company NameMoneycorpOFX
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Min transferΒ£50$1000 (US), Β£100 (UK)
Max transferNo limit for phone, Β£100,000 onlineNo limit
Fixed feesNo fee online, Β£15 phoneVaries by country, free for FXcompared users
See rates before you log in?YesYes

Customer Support

Company NameMoneycorpOFX
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Dedicated DealerYesYes
EmailYesYes
PhoneYesYes
Live ChatNoNo
24/7NoYes

Ways to Transfer

Company NameMoneycorpOFX
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesYes
Cash PickupNoNo
Card Top-UpNoNo

Additional Functions

Company NameMoneycorpOFX
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HedgingYesYes
Mass paymentsYesNo
Cash chequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

On MoneyTransferComparison, Moneycorp has received a higher editorial score. The advantages of Moneycorp over OFX are:

  • A wider range of currencies (120+ compared to OFX’s 55+).
  • The presence of offices in additional global locations providing local expertise.
  • A slightly better customer rating on Trustpilot.

Moneycorp is better for customers looking for a wide variety of currency options and those who may benefit from the company’s extensive global presence, making it ideal for large or complex international money transfers.

OFX is better for customers seeking no or low fees on transfers, especially for those transferring large amounts where OFX’s competitive rates and fee structure can offer significant savings. OFX’s 24/7 customer support also makes it a strong choice for customers who value assistance at any time of day.