OFX vs Monzo - Who is better? [UPDATED 2024]

When it comes to sending money across borders, we tested options like OFX and Monzo have emerged as leading choices. Both OFX and Monzo online platforms offer efficient and cost-effective and secure international money transfers from OFX and Monzo.

We compare OFX vs Monzo into the unique features and benefits that distinguish OFX vs Monzo, empowering you to make an informed decision based on your specific transfer needs like OFX vs Monzo fees, currencies available, available payment methods on OFX compared to Monzo, support options offered by OFX vs Monzo, speed and more.

OFX vs Monzo: Quick Feature Comparison

  1. Visit OFX alternative OFX Visit OFX

    Used By: 1000000
    Currencies Available: 54
    Transfer Fees: 15 AUD below 10k AUD
    Payment Methods: ETF, BPAY (Australia), Direct debits
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: 1000 USD
    Max Transfer: none
    Year Founded: 1998

  2. Visit OFX alternative Monzo Visit Monzo

    Used By: 5,000,000
    Currencies Available: 1
    Transfer Fees: none
    Payment Methods: bank transfer, phone contact
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 10000 GBP
    Year Founded: 2015

OFX vs Monzo: Pros and Cons

OFX vs Monzo
Advantages

OFX Advantages Monzo Advantages
  • OFX has been serving clients for over 26 years
  • OFX is available internationally.
  • OFX has multiple currency options.
  • OFX provides phone customer support.
  • OFX provides email customer support.
  • OFX is available to iOS Apple device users.
  • OFX is available to Android mobile device users.
  • Monzo provides phone support.
  • Monzo offers registered customers email support.
  • Monzo has a Apple iOS app on Apple app store.
  • Monzo offers a Android Google Play Store mobile app.

OFX vs Monzo
Disadvantages

OFX Disadvantages Monzo Disadvantages
  • OFX has no PayPal support.
  • OFX has no Neteller payments support.
  • OFX has no Skrill payment support.
  • OFX does have a mobile digital wallet like some others.
  • No home delivery with OFX.
  • No cash pickups with OFX.
  • No money order support with OFX.
  • No live chat support with OFX.
  • Monzo has no PayPal option.
  • Monzo has no Neteller option.
  • Monzo has no Skrill option.
  • Monzo is not available is as many regions as some other providers.
  • Monzo has few fiat currency then some others.
  • No digital wallets with Monzo.
  • No Monzo home delivery.
  • No Monzo Cash pickups.
  • No Monzo money order option.
  • No Monzo Livechat.

OFX vs Monzo Fees and Other Costs

Fee type OFX Fees Monzo Fees
Transfer Fees 15 AUD below 10k AUD none
Min Transfer 1000 USD none
Max Transfer none 10000 GBP
Payment Methods ETF, BPAY (Australia), Direct debits bank transfer, phone contact
Currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, USD, ZAR, AZN, BGN, BHD, BND, CNY*, EGP, FJD, HUF, IDR, ILS, INR, KRW, KWD, LKR, MAD, MGA, MXN, MYR, OMR, PEN, PGK, PHP, PKR, RUB, SAR, SBD, SCR, TOP, THB, TRY, TWD, TZS, VND, VUV, WST, XOF, XPF GBP

OFX vs Monzo Restricted Countries

OFX Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

Monzo Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

OFX vs Monzo Transfer Speeds

Transfer Speed OFX Monzo
Account Opening 1-3 days 1-3 days
Money Transfer Speed 1-10 days 1-10 days

OFX vs Monzo Languages

OFX Supported Languages

Monzo Supported Languages

OFX vs Monzo Verdict - Which is better?

Which is best out of OFX and Monzo depends on your needs.

  • OFX vs Monzo Transfer Fees: Transferring money with OFX costs 15 AUD below 10k AUD while Monzo charges none.
  • OFX vs Monzo Supported Currencies: OFX deals in over 1, where as Monzo offers transactions in 1.
  • OFX vs Monzo Payment Methods: OFX accepts ETF, BPAY (Australia), Direct debits, while Monzo allows transactions via bank transfer, phone contact.
  • OFX vs Monzo Transfer Limits: OFX allows transfers between 1000 USD and none. Monzo's range is none to 10000 GBP.
  • OFX vs Monzo Minimum Age for Account Creation: OFX requires users to be at least 18 years old, where as Monzo has a minimum age requirement of 18.
  • Contact Number: You can reach OFX at +442076144194 and Monzo at 00 44 20 3872 0620.
  • OFX vs Monzo Countries of Operation: OFX operates in over 1 countries but has restrictions in over 1 countries. Monzo serves 1 countries and restricts operations in 1 countries.
  • OFX vs Monzo Client Base: OFX is used by 1,000,000, where as Monzo serves 5.
  • OFX vs Monzo Year Founded: OFX was established in 1998 and Monzo began its operations in 2015.
  • OFX vs Monzo Customer Rating: OFX holds a rating of 3, in contrast, Monzo has a rating of 3.
  • OFX vs Monzo Headquarters: OFX has its headquarters at Sydney, Australia, while Monzo is based at London, UK.
  • OFX vs Monzo Employee Count: OFX employs 250 individuals, where as Monzo has a team of 1,551.
  • OFX vs Monzo Estimated Annual Turnover: OFX turnover stands at 8,000,000, while Monzo boasts a turnover of 80000000.
  • OFX vs Monzo Founder: OFX was founded by Reuben Sorensen, holding the position of CEO & Co-Founder | OFX. On the other hand, Monzo was the brainchild of Carol Kobuke Nelson, currently holding the position of CEO.
  • OFX vs Monzo Supported Languages: OFX offers support in over 1 languages. Monzo communicates in 1.

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OFX vs Monzo Alternatives Guides

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Screenshots

OFX Screenshot

OFX Screenshot

Monzo Screenshot

OFX Screenshot