OFX vs Profee
Side-by-side comparison — pricing, features, ratings, use cases. Find which Money Transfer fits you best.
🔍 Independently researched ·
📊 Data-driven
30/100
Free tier
High-value cross-border payments, generally from $10,000 USD upward, where better FX margins, no transfer limits, and hu
💰 Pricing
🆓 Free tier available
Account opening is free, but all transfers incur fees and FX markup
Fee notes:
- 0.5% FX markup on mid-market rate for transfers over $10,000
- Transfers under $10,000 may incur a fee of up to $15 USD
- No wire transfer fees for bank transfers
- Card payments may incur a fee (typically 1-2%)
⚠ Watch for:
- FX markup can be higher for smaller transfers (up to 1.5%)
- Possible receiving bank fees are not included
- If you cancel a transfer, you may lose the FX spread
- Large transfers may require a sales call and negotiated rates
🔧 Features
✓ No Limits✓ Phone Support 24 7✓ Large Transfer Rates✓ 55 Currencies✓ Australian Listed✓ Free Tier
📋 Assessment
💪 Strengths
- No transfer fees and no maximum limits: OFX does not charge a fixed transfer fee, which is a significant advantage for large transfers. You only pay the spread embedded in the exchange rate. This makes it highly cost-effective for moving $10,000 or more, as the spread is often lower than bank margins and there are no caps on transaction size, unlike some competitors that limit daily or per-transfer amounts.
- Better rates and custom quotes for high-value transfers: For transfers exceeding $10,000, OFX offers preferential exchange-rate margins. You can also request a custom quote or speak directly with a dealer to negotiate rates. This personalized approach can result in better overall value compared to fully automated platforms, especially for large or recurring payments.
- 24/7 phone support with dedicated FX specialists: OFX provides round-the-clock phone support, which is crucial for time-sensitive international payments. Dedicated dealers can assist with complex transactions, provide market insights, and help execute trades outside regular business hours. This human element is a differentiator from many online-only services.
- Comprehensive currency coverage and hedging tools: With support for 55+ currencies, OFX covers virtually all major and many minor currencies. Additionally, OFX offers forward contracts and limit orders, allowing users to manage currency risk by locking in exchange rates for future payments. This is a valuable feature for businesses with ongoing international obligations.
- Established and regulated: OFX is an ASX-listed company with over 20 years of operation, regulated in multiple jurisdictions, including the UK, US, Australia, and Canada. This regulatory oversight provides a level of trust and security, especially for high-value transactions, compared to newer, less regulated startups.
⚠ Watch out for
- Exchange rate spread can make small transfers less competitive: For amounts under $10,000, OFX's spread may be wider than that of Wise or other specialist providers, making it less cost-effective for small, one-off transfers. A user sending $500 or $1,000 might get a better deal elsewhere, even with OFX's no-fee claim.
- Slow transfer times: Bank-to-bank transfers typically take 1-4 business days. There is no instant transfer or cash pickup option. For urgent payments, this delay can be a significant drawback, especially when competitors offer faster, sometimes instant, transfers for smaller amounts.
- Verification and compliance friction: New customers must complete a verification process, which can include submitting IDs and proof of address. For large transfers, OFX may require additional source-of-funds documentation. This added friction can slow down the initial setup and occasionally delay transfers, which might be inconvenient for time-sensitive deals.
- Limited payment options: OFX primarily supports bank transfers. There is no option to pay via credit/debit card (which might be a pro for some, but for those seeking flexibility, it's a limitation). Also, recipients cannot pick up cash at physical locations; funds must be deposited into a bank account.
- No active trading platform for frequent, small transactions: While OFX offers forward contracts, it is not designed for high-frequency trading of small amounts. The platform is transaction-oriented, not a full-fledged FX trading platform. Users looking for micro-transactions or active day-trading may find OFX too clunky.
🎯 Best for
High-value cross-border payments, generally from $10,000 USD upward, where better FX margins, no transfer limits, and human support make a difference.
🚫 Who should skip
People sending small, urgent amounts or needing cash pickup and instant settlement, because OFX moves bank-to-bank and the spread can outweigh savings on small transfers.
📚 Learning curve
Minimal — the online portal is straightforward and support dealers can handle the complex transfers, but first-time verification may take a day or two.
🧑⚖️ Verdict
OFX is a strong choice for businesses and individuals making high-value international transfers ($10k+) where competitive rates and human support matter more than speed. If you need instant, small transfers or cash pickup, look elsewhere. Bottom line: For large, carefully planned transfers, OFX is a
69/100
$1 starting
Individuals in the European Union who need to send money quickly, easily, and affordably to family, friends, or freelanc
★ Best
💰 Pricing
Starting at $1 (per_transaction)
Fee notes:
- Card-to-card transfer fee: from €0.50 per transaction, plus a percentage (typically 1.5% to 2.5% depending on corridor and payment method).
- FX markup: 0.5% to 1.5% above interbank rate, varying by currency pair and corridor.
- Bank transfer (SEPA) fee: €1.00 per transaction (if available).
- Cash pickup fee: varies by agent (e.g., 1-2% of amount, minimum €3).
- No subscription fees; pay only for transactions.
⚠ Watch for:
- Transfer fees can be deducted from the sent amount or added on top; check total recipient amount.
- Card issuing bank may charge cash advance or foreign transaction fees.
- Recipient bank may deduct incoming wire fees.
- Weekend transfers may incur higher FX markup due to market closure.
🔧 Features
✓ Card To Card✓ Cis Corridors✓ Cyprus Latvia✓ Russian✓ Central Asia
📋 Assessment
💪 Strengths
- Specialized Corridor Expertise: Profee's focus on EU-to-CIS and EU-to-Asia corridors is its biggest strength. Services like Wise have restricted transfers to Russia and some Central Asian countries, leaving a void. Profee steps in, offering reliable transfer routes to these regions, which is invaluable for expats, immigrants, and business owners paying freelancers in places like Uzbekistan or Kyrgyzstan.
- Card-to-Card Convenience: The card-to-card system eliminates the need for bank account details or cash pickup. You only need the recipient's card number. This is a massive time-saver and reduces friction, especially for senders who may not have the recipient's IBAN or similar. It also helps unbanked recipients receive funds directly to their cards, which is common in these regions.
- Instant Transfer Speed: Transfers are typically completed within minutes, which is crucial for urgent remittances. Whether it's helping a family member with an emergency or paying a freelancer promptly, the speed is a major selling point. This is achieved through card network integration, ensuring funds reach the recipient's card almost immediately.
- Transparent Fee Structure (for standard corridors): For popular routes like EU-to-Russia or EU-to-Turkey, Profee offers competitive fees, sometimes even lower than traditional banks. The fee is displayed upfront before you confirm the transfer, with no hidden margins on exchange rates. This transparency builds trust, a key factor in financial services.
- Regulatory Compliance and Security: Profee is licensed in Cyprus and Latvia, operating under EU regulations. This provides a layer of security and accountability, which is reassuring for users sending money across borders. The platform uses encryption and complies with AML (Anti-Money Laundering) directives, ensuring transactions are secure and monitored.
⚠ Watch out for
- Limited Corridor Coverage: Profee is not a global service. It only sends from select EU countries to Russia, Turkey, and Central Asia. If you need to send money to Africa, South America, or other parts of Asia, you'll have to look elsewhere. This narrow focus is excellent for its niche but a dealbreaker for those needing diverse routing.
- Misleading 'Free' Tag: The starting price of $0.5 is promotional and applies to specific corridors and card types. For less common routes or when using certain cards, fees can be higher than competitors like Wise or Revolut. Users have reported that the 'free' tag is misleading, as the actual cost varies and sometimes exceeds expectations.
- Low Transaction Limits: Profee is designed for personal remittances, with limits that are capped. High-volume senders or businesses will quickly hit these limits and be forced to split transfers or seek alternatives. This makes it unsuitable for payroll or large transactions, a significant limitation for some potential users.
- Limited Customer Support Options: Support is primarily via email and an in-app chat, with no phone support. Response times can be slow, especially during peak hours. For a service dealing with money, this lack of immediate assistance can be frustrating, particularly if a transfer is delayed or fails.
- No Business Features: There are no API integrations, multi-user accounts, or invoicing tools. Profee is strictly a consumer service. This is a con for freelancers or small businesses that might want to automate payments or manage team expenses. They would need to use a separate platform for business needs.
🎯 Best for
Individuals in the European Union who need to send money quickly, easily, and affordably to family, friends, or freelancers in Russia, Turkey, and Central Asian countries using just a card number.
🚫 Who should skip
Businesses with high-volume payment needs, people sending money globally outside the supported corridors, and those who prefer traditional bank-to-bank transfers or cash pickup options.
📚 Learning curve
Minimal — the platform is straightforward: create an account, verify your ID, enter the recipient's card details, and pay. Even first-time users can complete a transfer in under five minutes.
🧑⚖️ Verdict
Profee is an excellent choice for individuals sending remittances from the EU to Russia, Turkey, or Central Asia, especially those who value speed and convenience. However, its limited corridor coverage and low transaction limits mean it's not suitable for businesses or those needing a global soluti
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseOFXProfee
Paying overseas suppliers and invoices95—
No transfer limits and dedicated dealer support make it strong for high-value bu
Cross-border property purchases90—
Large settlement amounts qualify for improved rates, and the 24/7 phone team can
FX hedging and forward contracts85—
OFX offers forward contracts so businesses and investors can lock in exchange ra
Sending large one-off personal remittances80—
Money moves such as tuition payments or buying a vehicle overseas benefit from l
Paying international contractors and remote staff70—
Batch payments and multiple currencies help, but slower settlement makes it less
Remittances to Russia—95
This is Profee's core strength—fast card-to-card transfers to Russian bank cards
Sending money to Turkey from Europe—90
Profee has strong Turkish corridors and supports transfers to major Turkish bank
Paying freelancers in Central Asia—85
With coverage across Kazakhstan, Kyrgyzstan, and Uzbekistan, Profee offers a sim
🧭 Which One Should You Pick?
Choose OFX if...
- You are: High-value cross-border payments, generally from $10,000 USD upward, where better FX margins, no transfer limits, and hu
- 👍 No transfer fees and no maximum transfer limits, making high-value international payments cost-effec
- 👍 Better exchange-rate margins for transfers over $10,000, plus the ability to get custom quotes or ta
- 👍 24/7 phone support with dedicated foreign exchange specialists, useful for time-sensitive settlement
- 💰 Free tier available
- ⚠ Trade-off: The exchange rate includes a spread, which can make smaller transfers less compe
Choose Profee if...
- You are: Individuals in the European Union who need to send money quickly, easily, and affordably to family, friends, or freelanc
- 👍 Specialized in EU-to-CIS corridors, including Russia, Turkey, and Central Asia, where many general m
- 👍 Card-to-card transfer system means no bank account details or cash pickup locations are needed—just
- 👍 Fast transfers, typically arriving within minutes to the recipient's card, which is essential for ur
- 💰 From $0.5/mo
- ⚠ Trade-off: Limited to specific corridors and not a global money transfer solution; sends on
❓ Frequently Asked Questions
Is OFX really free?
OFX does not charge a transfer fee, but it does add a margin to the exchange rate. The quote you see includes that spread, so compare the final rate and amount received with other providers.
Does OFX give better rates for large transfers?
Yes, transfers over roughly $10,000 or equivalent qualify for lower FX margins. You can request a custom quote, and their dealers can also help lock in forward rates for planned payments.
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