OFX Reviews 11,180

I highly recommend OFX for safe, speedy money transfers. So far, I've had 7 years of excellent service from them. In particular, I experience ongoing exceptional customer service from Bernadene Leuw. I wasted money on 1 expensive bank transfer in 2019, then, thankfully I found OFX and I haven't looked back. Their professional and personable approach makes transferring money easy and stress free.

The customer service was great. As the market was volatile I waited in anticipation. The Canadian reps Connor, Katelyn, and Alaina were great. This was a large sum of money for us to exchange and the advice we got and the confidence to transfer to the large sum of money to the Toronto Bank. We gained a good amount compared to our bank rate. Very Happy!

I like the offer for preferred exchange rates and reduced fees. I am disappointed with the slowness of their transactions. My transaction was confirmed on a Wednesday. The fund transfer was confirmed the following Monday and still not in my account. That’s 6 calendar days and 4 business days so far…

I do not recommend OFX's services and warn everyone against using them, as they disregard the most basic consumer protection rules, including Canadian law, where the company is licensed.

Brief summary of the case:
At the end of January, I accidentally initiated a very large, erroneous transfer. I noticed it immediately and reported the error. A week later, customer service still told me, "don't worry, the item has not been posted." Then, suddenly, I was charged a $12,247 USD (!!!) "conversion reversal fee" about which I never received any prior notification in any form.

What's wrong with OFX's practice?

There was NO prior warning. While navigating the site or in the guaranteed rate confirmation email, nowhere was it stated that a fee of this magnitude exists, how it is calculated, or what it might be. There was only a general, vague sentence stating that a "cost may be incurred." This is a sheer disgrace for a transaction worth several hundred thousand dollars and is also problematic from a Canadian consumer protection perspective.

The fee is completely unexpected and disproportionate. They are trying to force a cost on me that stems from their internal trading risk, but about which they did not inform me, the user, so I could not make an informed decision.

Lacks legal basis. In my view, this practice violates EU, UK, AND Canadian consumer protection regulations. The vague clauses they use constitute unfair contract terms, and the failure to disclose the scale of the fee is a misleading commercial practice. I have reported this to the Quebec financial authority (AMF). When I brought this to their attention, they did not address my legal argument but instead sent a simple payment demand.

Lesson and warning:
OFX's system does not protect against obvious user input errors and can impose hidden, undisclosed fees that represent a significant percentage of the transaction value. This is an unacceptable risk. There are other, more reliable currency exchange services where prices and costs are truly transparent.

My advice to everyone: Avoid OFX, especially for larger amounts. If you still use it, be prepared that behind the "guaranteed rate" lurk huge, undisclosed risks and potential costs that you will only learn about when it's too late.

Anyone else affected by OFX's faulty security allowing a hacker to drain your account?

Lost 53k CAD. This happened Dec 26, 2025.

I'm sure some people lost more. Please contact me if this has happened to you.

I have opened a local RCMP file SQ26-976 - and a federal case file 2026-2597-4807-0 (if anyone wants to attach their report onto it.

My relatives transferred money to me from Australia to the US. The exchange rate is not good. After the money was transferred to OFX, it was held up, and they requested the documents and took a long time to process the transaction, citing the need to verify the source of the funds.
Why didn't they request this verification clearly and transparently beforehand? Instead, they held the money after I had already transferred it to OFX. When I asked for a refund, they demanded a penalty. I am very disappointed.

Very security conscious process. Good rates for Iarger transfers. Easy to contact if any questions. Money was transferred and deposited - no dramas.

answered my call quickly and quickly handed me to the specialist that I needed for my large USD to AUD transfer. Patiently went through all my questions and handled my transaction easily even though I had not used service in several years.

I'm deeply thankful to Zent ri Coup s, for their help in the recovery of my money.

This is a trusted business I’ve used over the years whenever I’ve needed to bring money across. It’s a simple app to use, I have control of the time when I want to fix my rate, and the rates have remained competitive. Simple, easy, and gives peace of mind

Talking with a real person, he made the whole process smooth and easy.

I have been using OFX for several years and couldn’t be happier. The exchange rates are comparable and transfers move through the system efficiently and in the minimum time. The customer service is excellent with very friendly knowledgeable staff. Would absolutely recommend this organisation.

OFX is very easy to use, the transaction time was very fast and their service is quick and very helpful. Highly recommend

I have used OFX for CAD to USD >10 times over the past few years. They offer competitive FX rates that quickly track the market in a secure and intuitive interface. Multiple options for payment and delivery for compatibility and to reduce or eliminate any overhead/transfer costs. This time, it seemed a day faster to complete the deposit than normal, which is great.

Dealing with OFX is always amazing and they give me the best exchange rate and a wonderful customer service.

I always recommend OFX to everyone for overseas fund transfer.

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!

The process was straightforward and the forms were intuitive and clear. The notifications from OFX during the transaction were prompt and clear. The overall timing from execution to client receiving funds was faster than I expected, so very pleasing.

Good rates, a very reliable service and no hidden costs!

As customers we are very aware that ofx.com operates in a higly regulated industry as as others,there are certain circumstances where they cant futher proceed with a booked transfer,but this doesnt mean that ofx.com should dump their customer into trash when their global bank partner made the wrong assesments and false judgements about the ofx.com's decent legal legitimate customers!.Customers cant be blamed nor held responsible for OFX.com partner bank's mistakes!!!
I will try to explain how much risk your money is at ofx.com thru an authentic experienceof mine:I felt it necessary to make this review regarding ofx money transfer services and operating methods. Because this was the first time something like this happened to me.I am in deep shocked and devastated.I personally experienced how risky an intermediate institution could be for our legitimate decent money transfers, even if I had thought that it was very safe and risk-free utilizing their services for the money and assets transfer before,Therefore I don't recommend ofx.com,think twice before using it and don't RISK your moneyI DID TRUST OFX.COM but it is disaster!..Throughout my life, I have always been very careful, trying to obey the rules and laws, Always respecting rights and justice and never engaging in illegal or unlawful activities.Due to the nature of my job, which provides me with a legal income, I frequently travel to many countries around the world. During these travels, I realized something important :every year, in the countries I visit and stay in, even for short periods, I open legal legitimate bank accounts and obtain bank cards registered in my name. The sole purpose of opening these account was to use them only for my own savings and to make payments for my expenses in those countries. Currently I have many legally opened bank accounts in my name in 18 Countries, including the country where I live, in some countries I have 4 or 5 bank accounts in my name. I use all those accounts legitimately only for myself ;legal and lawful. I have not used it in any way that is illegal or unlawful nor have I used them for any other purposes. I have never been part of scam spam or any other illegal organization! Everything is transparent,legal and legitimate.All my legal account documents do clarify all my legal transactions.I have made payments to all these banks from time to time in the fastest, most efficient and the most legitimate way, I have sometimes used intermediary institutions.One of them was ofx.com, which I found through a Google search in 2018.For me the risk was always much lower for all 50 of my accounts because i only used those accounts for my own payments and expenses.I started utilizing services of ofx.com in 2018 after my application was approved and continued to use their services successfully until Nov 2025.Through time,, i experienced not customer friendly nor efficient services from OFX.com any more; it served so risky as intermediary organisation which can put all the customer 's assets at risk,eventually they cld dump into the trash through risk appetite of theirs: Approximately 99 percent of the nearly 50 recipient bank accounts are my own accounts .I have been sending small amounts to all my own banks accounts tru ofx.com periodically,usually for saving purposes and for my own spending. In Oct.and Nov.2025, I have made 2 separate payments in USD to 2 different accounts of mine in Cambodia,since this country is on the ofx.com 's safe list of countries it serves, what do you think?.IF there is a problem with cambodia and Cambodian banks, why is ofx.com still listing that country as one of the safe countries to which it can still send currency? The first transfer of Usd 11.39 in October 2025 has successfully been delivered within 10 days. It took exactly 10 days too long!Then in November 2025 I made a payment of USD 10.28 to my other account in Cambodia.Time passed but no delivery, no reply for a long time, then I was requested to deliver KYC documents over and over, finally in January 2025 they sent me the following shocking email:They simply threw me into the trash and abondened:"AMOUNT OF USD 10.28 WAS PROCESSED TO YOUR RECEIPENT(MYSELF) IS CURRENTLY BEING HELD BY THE OFAC(Office of Foreign Assets Control) in USA, UNFORTUNATELY WE ARE UNABLE TO INTERVENE THIS PROCESS ON YOUR BEHALF.YOUR OFX.COM ACCOUNT WILL BE CLOSED AS IT FALLS OUTSIDE OF OFX'S RISK Appetite".See this? OFX.COM is TERRIBLE!! dangerous and risky.Stay away,if you send money trough ofx.com,in the end your money could be confiscated and sent to OFAC by ofx.com 's global partner bank! without your knowledge and control and initiation.Once your money is gone then OFX.com will come back to you and inform you that they close your account!! get ready for it.