OFX vs Revolut

OFX or Revolut

Picking OFX or Revolut comes down to more than the brand name. The useful question is how much of your money arrives once every fee and the exchange rate are counted. That is exactly what this page measures.

In our database, OFX belongs to the money transfer service group and handles Currencies, while Revolut sits in broker and handles Currencies, Cryptocurrencies, Precious metals. This already says quite a lot about which jobs each one is built for.

Below the calculator we explain our method, the trade-offs that do not show up in a single number and who should pick which. Rates on this page are live, so the outcome can shift during the day.

What to check on safety

Price matters, but so does knowing your money is handled properly. A legitimate provider is licensed or registered with a financial regulator. You can usually find the licence details in the footer or legal section of the provider’s website.

An important question is safeguarding: your balance should be held apart from the firm’s own money. Note that safeguarding differs from a bank deposit guarantee.

With crypto platforms, look a little further: registration with a regulator, how customer assets are stored and whether you can withdraw to your own wallet. Whichever you choose, switch on two-factor authentication and use a unique password.

The fee is only half the story

A low or zero fee looks attractive, but it says little about the total cost. Often the cost simply moves into the exchange rate, where it is harder to spot. The bigger the amount, the more that margin hurts.

For this reason our comparison combines the fee and the rate margin into one number. One provider may charge a clear fee with a tight rate, another may skip the fee and widen the rate. What counts is what lands in the account at the end.

Watch for extra costs outside the conversion itself: withdrawal and network fees, card costs and fees at intermediary banks. Some of these sit outside what we can measure, so check the provider’s fee page before a big transfer.

Delivery time and ease of use

The fastest delivery we have on record for OFX is 1–2 business days; for Revolut it is Instant. That is the quickest route, not the usual one for every transfer. A first transfer often takes longer because of identity checks.

How you fund a transfer makes a big difference. A card payment or instant bank transfer is usually quicker than a regular bank transfer, but it can cost more. When there is no rush, a slower option can save you money.

Beyond raw speed, think about convenience: how easy the app is, whether you can track a transfer and how fast support responds. Try the app before you move a large amount.

How the numbers are worked out

Every provider earns money in two ways: a visible fee and a margin hidden in the exchange rate. As a benchmark we use the live mid-market rate, the rate banks and large traders use among themselves. That gap is the margin, which we add to the fee to get the total cost.

We run this for several sample amounts, from small to large, since a fixed fee hurts more on small sums. Exchange rates are refreshed every 30 minutes; fees are taken from the published fee schedules. Promotions, account tiers and personal discounts are not always included, so your own offer may differ.

We are not owned by any provider. Some links on the site are affiliate links, but they never change the order or the outcome. The cheaper option is shown as cheaper, full stop.

Small amounts vs large amounts

The cheapest choice for a small amount is not always the cheapest for a large one. A fixed fee weighs heavily on a small transfer but barely registers on a large one. That is why the scenario table shows several amounts, not just one.

Some providers lower their percentage above certain thresholds, something our standard scenarios do not always capture. With OFX or Revolut, check the current terms before you move a significant sum.

Which one is cheaper?

Across 5 of the 5 conversions that both providers offer, Revolut left you with more money at live rates. On price alone, that makes Revolut the default pick.

Still, OFX is not out of the race. Check the table above to see where OFX comes out ahead. If your currency pair and amount are among them, OFX is simply the cheaper option for you.

There is more to it than price. OFX may support a payment method, a currency or a delivery option you need. For small sums, those practical points can outweigh the price difference.

Using both, or switching

Using two providers side by side is common. Plenty of users keep an account with both and choose per transfer. Signing up rarely costs anything, but verification is not always instant.

For anything above everyday amounts, check the calculator on this page, since rates move and the cheaper side can flip. That small habit can save more than any loyalty bonus.

If you switch, empty the balance, cancel any recurring payments and save your statements, as you may need them later for your tax return.

The right choice depends on what you do

When you travel, compare what a card payment in a foreign currency costs at each. Holding a balance in the local currency avoids converting at every purchase.

If you send money abroad regularly, compare the received amount for your usual sum. Large one-off sums deserve a separate check: limits, extra verification and the margin all weigh more.

When buying crypto, check that crypto is supported at all, then compare spreads and withdrawal fees. For business payments, check whether a business account is available and what it costs. This page compares cost, not suitability as an investment.