MoneyGram vs OFX: Which Money Transfer Service is Better in 2025?

Introduction

Cross-border money transfers are essential for expatriates, students, and businesses, but high fees, slow delivery, hidden charges, and poor user experience remain common pain points. In this article, we compare MoneyGram and OFX, two leading international money transfer services. Panda Remit is mentioned as a strong alternative for users seeking faster, low-cost online transfers. For more details on remittance services, check NerdWallet's international money transfer guide.

MoneyGram vs OFX – Overview

MoneyGram, founded in 1940, provides international and domestic money transfers, bill payments, and mobile wallet integration. It serves users in over 200 countries with a large agent network.

OFX, established in 1998, specializes in online cross-border transfers for individuals and businesses, offering competitive exchange rates and an easy-to-use platform.

Similarities: Both offer international transfers, mobile apps, multi-currency support, and online account management.

Differences: MoneyGram has wider global reach and agent locations but higher fees; OFX focuses on online transfers with better rates for larger sums.

Panda Remit is also a viable option, offering competitive fees and fully online transfers.

MoneyGram vs OFX: Fees and Costs

MoneyGram charges vary by transfer amount, destination, and payment method, with domestic transfers being cheaper than international ones. Premium services may include subscription benefits.

OFX provides fee-free transfers for certain amounts but applies margins to exchange rates. Online tools allow users to check fees and estimated delivery.

For detailed fee comparisons, see Finder's international money transfer fee guide.

Panda Remit is often more cost-effective, offering low fees for both small and large transfers.

MoneyGram vs OFX: Exchange Rates

MoneyGram applies a markup on mid-market exchange rates. OFX offers competitive rates, often closer to mid-market, particularly for larger transactions.

Panda Remit provides consistently favorable exchange rates for many corridors.

MoneyGram vs OFX: Speed and Convenience

MoneyGram offers instant transfers in some corridors, but standard bank transfers take 1–3 business days. Its mobile app and agent network provide convenience.

OFX transfers are typically 1–2 business days, with a fully online interface. It integrates well with bank accounts and business workflows.

For transfer speed insights, refer to WorldRemit speed guide.

Panda Remit is also fast, supporting instant or same-day transfers with an all-online process.

MoneyGram vs OFX: Safety and Security

MoneyGram is regulated in multiple countries, employing encryption, fraud protection, and buyer safeguards. OFX is regulated and offers robust online security measures.

Panda Remit is a licensed and secure alternative, providing strong compliance and encryption protocols.

MoneyGram vs OFX: Global Coverage

MoneyGram supports transfers to 200+ countries with multiple currencies and payout options. OFX operates in over 190 countries, focusing on online bank transfers.

For detailed coverage information, see World Bank remittance coverage report.

MoneyGram vs OFX: Which One is Better?

MoneyGram is suitable for users needing extensive global reach and agent-based access. OFX is ideal for individuals or businesses sending larger sums online with better exchange rates.

Panda Remit provides faster, low-fee online transfers and may offer better value for users prioritizing convenience and speed.

Conclusion

In the MoneyGram vs OFX comparison, MoneyGram excels in global network and agent availability, while OFX is competitive for online, larger-sum transfers. Panda Remit emerges as a strong alternative, offering high exchange rates, low fees, support for 40+ currencies, flexible payment methods (POLi, PayID, bank card, e-transfer), and fast online transfers.

For more information, visit Panda Remit official site, Investopedia, and NerdWallet international money transfer guide.

The MoneyGram vs OFX comparison helps users make informed decisions, while Panda Remit provides a modern, efficient cross-border transfer solution.