Wise vs OFX
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, Wise delivers ₹94,569 and OFX ₹91,317, so your recipient gets ₹3,252 more with Wise. Wise charges a $6.85 fee and converts at the mid-market rate, paid by ACH bank debit; OFX charges no fee with a margin of about 4.10% in its rate, paid by bank transfer.
Quick verdict
Choose Wise if you want…
- Fee transparency & mid-market exchange rates
- Mid-market exchange rate without hidden currency markup
- Upfront fee breakdown showing exact percentage and fixed costs
- Does not support physical cash pickup counters in India
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
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 | W Wise | OFX OFX |
|---|---|---|
| Exchange rate model | Mid-market rate, no margin | Retail rate, +4.10% margin |
| Transfer fees | Wise charges a transparent upfront fee: a small fixed charge plus a percentage that depends on how you pay (about $0.98 + 0.59% for US ACH payments, and roughly 0.33% to 0.9% plus a small fixed charge from the UK, Canada, Australia, Singapore and the UAE). Unlike most retail providers, Wise does not add an exchange rate markup. | 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. |
| Typical delivery | Bank-funded transfers (ACH/local wire) typically deliver in 1 to 2 business days. Transfers using UPI receiving options or debit card payments typically credit the Indian account within 1 to 2 hours. | Transfers typically take 1 to 2 business days as funds move through domestic banking clearing systems. |
| Receiving methods | Bank accountUPICash pickup (not supported) | Bank accountUPI (not supported)Cash pickup (not supported) |
| Routes to India | 6 corridors | 4 corridors |
| Headquarters | London, United KingdomFounded 2011 | Sydney, AustraliaFounded 1998 |
| Full review | Read Wise review | Read OFX review |
In-depth analysis
Should you use an automated fintech app or a dedicated currency broker? We compare Wise and OFX across different transaction volumes.
Automated App vs Dedicated Currency Broker
Choosing between Wise and OFX is fundamentally a question of transfer size and service model.
- Wise: Built for automated, self-serve digital transfers from $50 up to $50,000, using mid-market reference rates and a transparent variable percentage fee.
- OFX: Founded in Sydney and operating globally, OFX specializes in high-value foreign exchange transfers ($2,000 to $1,000,000+), combining an online platform with 24/7 dedicated telephone dealing desks.
Detailed Comparison Table
| Feature | Wise | OFX |
|---|---|---|
| Minimum Transfer | None ($1) | $1,000 USD / AUD |
| Maximum Transfer | $50,000 per online transfer (US) | No upper limit |
| Fee Structure | Transparent fee (about $0.98 + 0.59% from the US by ACH) | $0 transfer fees on amounts over $1,000 |
| Rate Structure | 100% Mid-market rate | Retail spread that narrows as volume increases (public US rates about 4.1% at $1,000 and 3.4% at $10,000) |
| Human Broker Support | None (100% automated self-serve) | Dedicated phone dealing desk 24/7 |
| Forward Contracts | No | Yes (Lock in rates up to 12 months ahead) |
Where the Crossover Happens
- Under $5,000: Wise is typically faster, simpler, and yields a higher net payout because OFX's minimum spread on smaller amounts is wider.
- Above $15,000 - $25,000: OFX can become competitive if you negotiate. Wise's fee of about 0.6% on $50,000 is roughly $290, while OFX's public rate margin is far wider; a personal broker can negotiate a tighter custom spread and waive wire and administrative charges, so get a registered quote and compare.
Summary advice
On our $1,000 USD → INR benchmark, Wise 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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