Send $1,000 from US dollars to euros and Wise takes about $3.44, while OFX takes about $7.50. Wise wins on a small transfer, but not by much, and the gap narrows as the amount grows. These two are far closer on price than either is to your bank.
The winner comes down to the size of your transfer, and to whether you want an everyday app or a dedicated currency broker. The tables below use the current mid-market reference; Wise may use an account-holder API estimate, while other providers use stored published fee and markup models rather than live quotes.
- On small transfers, Wise usually wins. Its fee of about 0.41% plus a tiny fixed charge undercuts OFX's roughly 0.75% markup on a $1,000 transfer.
- On larger transfers, OFX can close the gap. Its markup tends to shrink as the amount grows, while Wise's percentage stays the same.
- OFX is built for big transfers. It's a dedicated currency broker, and minimum transfer sizes can apply; Wise has no minimum.
- Both beat a bank by a wide margin. Either costs a fraction of a bank's 3%+ markup.
How Wise charges
Wise hands you the mid-market rate and adds a small, clearly shown fee on top: roughly $0.61 fixed plus about 0.33–0.5% depending on the route. No subscription, no monthly limit, no minimum transfer size. The number at checkout is the number you pay. Our Wise vs Revolut guide compares this fee against Revolut's plans in detail, and the Wise provider page has the full breakdown.
On a $1,000 transfer that works out to about $3.44 all-in, near 0.34%. Because the fee is a percentage plus a small fixed amount, the percentage falls slightly as the transfer grows; the fixed $0.61 barely registers on a large sum. That predictability is a big part of the appeal. You never check the calendar or track a running total before you send.
How OFX charges
OFX is a dedicated currency broker rather than an everyday spending app. On larger transfers it charges no separate transfer fee; instead it makes its money on an exchange-rate markup, which we model at about 0.75% on popular routes like US dollars to euros.
That markup is not set in stone. It varies by route and amount, and it tends to shrink as the transfer gets bigger, so a large sum often gets a sharper rate than a small one. OFX can also set minimum transfer sizes, which signals who it's really for: people moving serious money, not pocket money.
On a $1,000 transfer the markup works out to about $7.50, or 0.75%, a little more than Wise at this size. See the full breakdown on the OFX provider page. The thing to understand about OFX is that the price you see is a starting point. A real quote on a big transfer is often better than the sticker rate, which is exactly where the comparison with Wise gets interesting.
Head to head, by amount
Wise and OFX are much closer on cost than either is to a bank, and the ranking between the two comes down to the size of your transfer. Here's the same US-dollar-to-euro transfer at two amounts, with the current estimates.
$1,000: Wise's low percentage edges it
On a $1,000 transfer, Wise's fee-plus-fixed model (0.34%) comes in below OFX's flat markup (0.75%). The gap is only a few dollars, but Wise is the cheaper of the two for small, everyday transfers, and it has no minimum to worry about. If you send modest amounts and just want it done cheaply, Wise is the easy pick here.
$10,000: where OFX starts to close the gap
At $10,000 our modelled figures still put Wise ahead, about $29.46 versus $75.00 for OFX. That's because we apply OFX's markup as a flat 0.75% at every size.
In the real world this is exactly where OFX tends to close the gap: its markup is negotiable and usually shrinks as the amount grows, so a live quote on a large transfer can land below our estimate and beat Wise. Treat our 0.75% as a ceiling, not a promise, and get a quote for your exact amount before you decide.
The honest verdict
Who should pick what
Pick Wise if you send small or irregular amounts, you want the cost to be the same every time, or you like the idea of an everyday app with no minimum and no markup hidden in the rate. On a $1,000 transfer it's the cheaper of the two in our figures, and it's the simpler choice for most people sending money abroad.
Pick OFX if you're moving a large sum and you're comfortable getting a quote first. As a dedicated currency broker, OFX tends to sharpen its rate as the amount grows, and on a big transfer that can beat Wise's flat percentage. It's the more natural fit for a house deposit, a business payment, or a one-off lump sum where a phone call could save you real money.
Put Interactive Brokers on the shortlist when the exchange funds a large investment, trade or portfolio hedge inside the brokerage. Its spot-currency pricing can undercut both providers by a wide margin. Wise or OFX is more direct when the job is paying somebody else.
Pick neither if you're sending a small amount to a place OFX doesn't cover well, or you need cash pickup or speed over price. And whatever you choose, avoid your bank: the default account most people use out of habit charges 3%+ on the same transfer. Run your exact amount and route through the comparison tool to see the current estimates.
Frequently asked questions
Is OFX cheaper than Wise?
On small transfers, usually not. Wise's low percentage fee tends to come in below OFX's roughly 0.75% markup on amounts like $1,000. On larger transfers it can flip. OFX's markup tends to shrink as the amount grows and is often negotiable, so a live quote on a big transfer can beat Wise's flat fee. There's no single answer; it depends on the size of your transfer and the route.
Does OFX charge a transfer fee?
OFX generally charges no separate transfer fee on larger transfers. Instead it makes its money on the exchange-rate markup, a slightly worse rate than the mid-market one, which we model at about 0.75% on popular routes. The exact markup varies by route, amount and payment method, and minimum transfer sizes can apply. Wise charges a visible fee at the real mid-market rate instead.
Are these numbers exact?
They're worked out from each provider's published fee structure against the live mid-market rate, so they're current, but they're modelled estimates for typical routes. OFX in particular prices each transfer individually, so its real markup can sit below our flat 0.75% estimate, especially on larger amounts. Always confirm the final figure on the provider's own checkout before you send.
Cost figures are worked out from each provider's published fee structure applied to the current mid-market reference rate, modelled estimates for typical major-currency routes. OFX prices each transfer individually and its real markup can vary; the figures shown are representative. Always confirm the final quote on the provider's own site before you transfer. We may earn a commission from affiliate links at no extra cost to you; this never affects rankings. Nothing here is financial advice.
Sources: Wise pricing (opens in a new tab), OFX fees (opens in a new tab), IBKR spot-currency commissions (opens in a new tab), Interactive Brokers (U.K.) Limited Client Agreement for Carried Products (opens in a new tab), IBUK and IBLLC Client Agreement (opens in a new tab), IBKR third-party withdrawals (opens in a new tab). Accessed 22 August 2026.