OFX vs HiFX: Which Option is the Best?

The Currency Shop compares two of the most popular money transfer providers: OFX and HiFX. How do the two companies match up? Find out which company will suit your transfer needs.

The Important Bits


Safety: Based in Australia, fully licensed and publicly listed

Rates: Vary based on amount and currency

Fees: $15 for transfers under $10,000. Fee free above $10,000.

Speed: 1-2 business days for most transfers

Service: Above average customer service, particularly over the phone


Safety: Based in the UK, licensed and owned by Euronet

Rates: Depends on the currency and amount you are sending

Fees: $15 for transfers under $10,000. Fee free above $10,000.

Speed: 1-3 business days for most transfers

Service: Above average customer service, especially over the phone

The Verdict

Safety: Both are well licensed but HIFX is much bigger in size

Rates: HiFX tend to better for smaller amounts and OFX for larger amounts

Fees: They charge the same fee

Speed: Roughly the same

Service: Both have excellent phone support but OFX is stronger online

Learn more about OFX

Learn more about HiFX

Let's have a look at them in more detail


The Australian Securities and Investments Commission (ASIC) is the government body that ensures and regulates fair and transparent conduct of financial services. Every financial service must be granted an Australian Financial Service (AFS) licence by ASIC to carry out business in Australia.

OFX are regulated by ASIC & AUSTRAC (AFSL 226484)

HIFX are regulated by ASIC & AUSTRAC (AFSL 240917) and a member of Australian Financial Ombudsman Service 'FOS' (Member 11670)

Exchange Rates

Exchange rates rise and fall all the time. To get an accurate comparison of exchange rates, you'll have to compare what the current rates are.

Here are three ways you can compare current exchange rates:

  1. View live rates on OFX and HiFX websites
  2. Call each company for a quote: OFX at 1300 300 424 and HiFX at 1800 006 592 (within Australia)
  3. Compare exchange rates online in under a minute with our comparison engine


This one is easy.
They both charge an exchange rate margin and $15 for transfers under $10,000

Time For Transfer To Reach Recipient

When using an online transfer provider, your transfer is made to the company account to be processed before it is cleared and transferred to the recipient.

OFX and HiFX generally take 1-3 business days. How long it takes usually comes down to:

  1. How long it takes you to pay them for the transfer
  2. Which country you are sending the money to. Some countries take longer than others
  3. How long the bank on the other end takes to credit the bank account

How easy are they to use?

Both companies are fairly similar when it comes down to using them.

To transfer money overseas with either of the providers, you must register an account. We review the steps for each provider below:

Accepted Payment Methods and Minimum & Maximum Transfer Amounts


What Currencies Can I Transfer?

For an extensive list of currencies available for transfer with OFX and HiFX, check out our reviews for each company
HiFX Review
OFX Review


Customer Support

OFX provides exceptional 24 hour customer service over the phone. Likewise, with HiFX you can to receive the support you need.

Learn more about OFX

Learn more about HiFX