OFX vs Remitly
Which provider is better for sending money from the USA to India? Compare fees, exchange rate margins, delivery speed and what your recipient actually receives.
The bottom line: sending $1,000 from the USA, Remitly delivers ₹94,613 and OFX ₹91,052, so your recipient gets ₹3,561 more with Remitly. OFX charges no fee with a margin of about 4.10% in its rate, paid by bank transfer; Remitly charges no fee with a margin of about 0.35% in its rate, paid by ACH bank debit.
Quick verdict
Choose OFX if you want…
- Transfers over $2,000 & dedicated telephone dealer support
- $0 transfer fees on transactions over $1,000
- 24/7 access to telephone currency dealers and forward contract options
- Minimum transfer size of $150; not intended for micro-remittances
Choose Remitly if you want…
- Express speed & introductory promotions
- Express mode delivers to Indian bank accounts via UPI in minutes
- Introductory promotional exchange rate on the first qualifying transfer
- Standard exchange rates after introductory promotions include a currency margin of roughly 0.3% to 1.3%, depending on the sending country
What your recipient gets at each amount
Indicative net rupee payouts for USD → INR transfers, based on published fee schedules and benchmark snapshots.
Score breakdown, side by side
Each provider's TransferGauge Score across the seven weighted dimensions. How we score
Side-by-side details
| Metric | OFX OFX | R Remitly |
|---|---|---|
| Exchange rate model | Retail rate, +4.10% margin | Retail rate, +0.35% margin |
| Transfer fees | OFX charges $0 transfer fees for amounts over $1,000. Revenue is earned through the exchange rate margin: its public US customer rates were about 4.1% below mid-market at $1,000, 3.6% at $5,000 and 3.4% at $10,000. Registered and high-value customers can negotiate better rates. | Transfers paid from a bank account carry $0 fees for amounts of $1,000 or more from the US, UK, Canada and Australia. Debit card transfers can carry a fee (SGD 3.99 from Singapore). Revenue comes mainly from an exchange rate margin of roughly 0.3% to 1.3%. |
| Typical delivery | Transfers typically take 1 to 2 business days as funds move through domestic banking clearing systems. | Express delivery with debit card credits Indian bank accounts or UPI IDs within minutes. Economy transfers take 3 to 5 business days. |
| Receiving methods | Bank accountUPI (not supported)Cash pickup (not supported) | Bank accountUPICash pickup |
| Routes to India | 4 corridors | 5 corridors |
| Headquarters | Sydney, AustraliaFounded 1998 | Seattle, WA, USAFounded 2011 |
| Full review | Read OFX review | Read Remitly review |
Summary advice
On our $1,000 USD → INR benchmark, Remitly earns the higher TransferGauge Score (96 vs 65). The better choice still depends on your amount, how your recipient wants to be paid, and how quickly the money needs to arrive.
All figures are indicative benchmarks. Always verify live rates, fees and delivery options on the provider's website before sending money.
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