OFX money transfer limits

OFX®¹ offers international payments and currency management solutions to US individual and business customers. If you’re planning on using OFX you’ll need to know the OFX minimum transfer amount, and the OFX transfer limit for higher value payments, to check if your transaction can be supported. This guide has you covered.

What are OFX's transfer limits?

OFX does not usually impose a maximum transfer limit. However, there are a couple of potential limits you may run into when sending high value transfers with OFX.

Firstly, your own bank may limit the amount you can send to OFX, which may mean you need to make more than one payment to cover your transfer cost.

Secondly, the currency you’re sending may mean some additional limits, particularly when dealing with regulated currencies. Here’s a quick roundup of the OFX transfer limits you’ll need to know about.

New to OFX? You can also check out our full OFX review for more information on OFX and how you can use their services.

OFX transfer limits by region

As we've seen, OFX does not impose transfer limits - however, you may still find some limits apply on your payment:

How can you check OFX's transfer limits?

When you set up your OFX payment you’ll be able to check it falls within the OFX transfer limit for the specific currency.

If you’re arranging your transfer by phone you’ll be informed of any applicable limit by the member of staff before you confirm your payment.

In-app and online, you’ll see the limits on screen and be notified if your transfer exceeds the OFX transfer limit for that particular currency.

Can you increase your transfer limits with OFX?

OFX does not impose its own transfer limits. If a limit applies, it’s likely to be set by the government - for example when sending a regulated currency.

In this case, OFX will not be able to waive or alter the limit, but a team member can help you work through your options so you’ll know what your choices are, and can structure your transfer in the best possible way.

What’s the best way to send money internationally?

Banks are certainly one option for sending money internationally, as are services like PayPal. But the problem with banks is they can often be slow, expensive and inconvenient. Luckily, there’s a better alternative out there.

You can send money worldwide with Wise for low fees and the mid-market exchange rate. It’s easy and quick to set up a payment online, and you’re guaranteed secure transfers even when sending large sums.

Wise is a money service business (MSB) regulated by 12 international financial authorities, and uses sophisticated security features to keep you and your money safe.

Open a Wise account, and you can send, spend and convert between 40+ currencies whenever you need to. You can even receive money from all over the world using your own local account details.

As if all that wasn’t enough, there’s a Wise debit card too. For a one-time fee of just $9, you can spend in over 150 countries in the local currency. Your USD is automatically converted at the mid-market rate, for just a small conversion fee*.

Open a Wise account today

💡 Need to make a business payment? With the Wise Business account, you can send up to 1,000,000 USD per transfer from licensed states.

Discover the difference between
Wise Business vs Personal

What are OFX's transfer fees and charges?

OFX does not charge a transfer fee for customers in the US³. Instead, there’s a small markup added to the exchange rate used for currency conversion.

This markup is a percentage fee which is variable based on the currency you’re sending to, the value of the payment, and the transfer time.

Higher value transfers may attract lower markups, while sending money on a weekend or when exchange markets are closed may mean paying a higher fee⁴.

Things to keep in mind when transferring high amounts with OFX

OFX is a safe and reliable service for high value payments - however, there are a few things to remember whenever you send a large amount.

OFX transfer limits FAQ

What happens if you exceed your OFX transfer limit?

There’s no OFX transfer limit, but some currencies have limits which are applied by law in the recipient’s own home country. If this is the case, you’ll be advised by OFX before your payment is processed.

Are there any fees associated with exceeding transfer limits or requesting limit increases?

There’s no maximum OFX transfer limit, and high value payments may even be better value than smaller transfers as you could qualify for a preferential exchange rate.

How often do OFX transfer limits reset?

OFX does not have an upper transfer limit - you can freely transfer most currencies, as the only limits applied are those associated with government restrictions on regulated currencies like CNY and ZAR.

Is OFX safe to use for money transfers?

Yes. OFX is regulated by FinCEN in the US, and 50+ similar global bodies. It’s a trusted provider which is safe to use with normal precautions.

What is the minimum transfer amount for OFX?

The OFX minimum transfer amount is 1,000 USD.

How long does an OFX transfer take?

Many transfers arrive in 1 or 2 days - but it’s helpful to know that some transfers could take up to 5 days, depending on the currency⁵.

Can you cancel an OFX transfer?

You may not be able to cancel your transfer once it is on its way, which means it’s very important to check you have all the correct recipient details before you confirm your payment. If you’re concerned about your transfer, use the OFX 24/7 phone service to discuss your options.

OFX is a safe and reliable service with a good reputation among customers. You can send transfers with OFX, from 1,000 USD, to 170+ countries - usually with no OFX maximum transfer limit to worry about. Use this guide to OFX limits to get you started, and make sure to compare OFX against alternative services before you confirm your payment, so you know you’re getting the best available transfer price.