Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:04/15/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  To Whom It May Concern,I am filing this formal complaint against OFX ******************** technology company for their mishandling of a recent transaction attempt and for engaging in what I believe to be illegal and unethical collection practices.I recently attempted to transfer funds to OFX using my bank, ****** by *************************. Despite several efforts, the bank refused to process the transaction, explaining that OFX could not be qualified as a recipient for transfers due to SWIFT-related issues. This issue originated entirely on OFXs end and was outside of my ********** an attempt to resolve the matter, I contacted OFX customer support and spent over two hours waiting to speak with someone. When I finally got through, I was met with unhelpful and uninformed responses, with no resolution or alternative offered. The lack of competent support and guidance was unacceptable for a financial ************** my shock, instead of taking responsibility for the failed transaction, OFX has now referred my account to a collection agency. I have since received threats to collect money and damage my credit rating, even though this situation arose solely due to their failure to facilitate the transfer properly. I consider this behavior illegal, coercive, and deeply *********** is completely unjust that I am being penalized for a transaction failure caused by OFXs own banking limitations and lack of support. I am requesting the Better Business Bureau to investigate this matter. I am also seeking a full retraction of any collection activity, confirmation that no credit reporting will be made, and a formal acknowledgment from OFX taking responsibility for the failed transaction. Is it legalfor Australianfinancialcompanies to collect money from American citizens?Thank you for your attention to this serious issue .Sincerely,******* ********** MD

  Business Response

  Date: 04/25/2025

  Hi *******,

  Thank you for reaching out to express your frustration. As I understand, this issue has now been resolved to your satisfaction and the fee has been waived as a gesture of goodwill. For future payments, it is important to understand the options available to you in the case your bank is unable to process the payment for any specific reason they state. Unfortunately, your banks ability and willingness to process a payment to OFX is out of our control and we have historically received numerous payments from your institution without any issues. In regards to the collections process, this does not impact your credit rating. This is an internal team working to chase payment from those individuals who enter into a contract with OFX that is unresponsive and chooses not to settle payment and explore the options available. Glad we could sort this for you for this payment.

  Kind regards,

  The OFX team

• Initial Complaint

  Date:01/09/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This company is holidng my 13k Eur for more than a month . I gave everything these guys requested but they still have BLOCK on my account. I already emailed them at reviews@ofx.( com ) with my client ID number and they never responded me back . Please do not do business with this company as they will keep your funds for no reason . Please get me my money back or refund the amounts to customers who paid to my business . I have been patiently waiting but I can not wait for months . They dont have any answer . Everytime I email my account **** she emails me back that she does not have an answer . Why you guys do this to your clients ? Please do not do business with this company everyone I request . There are couple of transactions where my customer;s bank account has been debited but this company has not sent that fund to me . I have my customer's bank account debit screenshot . This company is doing unethical work by keeping money . **************** is hardly reachable . Please help me to get my funds back from this company

  Business Response

  Date: 01/13/2025

  Hi ****** we understand the urgency of your inquiry. As we have continued to communicate out to you throughout the last few weeks, we are working on resolving this matter as soon as possible. We will continue to be in touch and provide you with updates as we have them available for you. 

   

  Kind regards,

  The OFX team.

  Customer Answer

  Date: 01/14/2025

   
  Complaint: 22789275
  
  I am rejecting this response because:
  I want a timeframe as have been waiting for more than a month now and you guys cant just keep telling this review process will take more time .Please let me know whenare you going to return my funds ?

  Sincerely,
  
  ***** *******

  Business Response

  Date: 01/14/2025

  Hi Tiara,

  Unfortunately, we cannot provide an exact timeframe for the resolution of this case but we are working to get you more answers as soon as we can. We will continue to keep you informed as we work to resolve this matter.

  Sincerely,

  The OFX team.

  Customer Answer

  Date: 01/15/2025

   
  Complaint: 22789275
  
  I am rejecting this response because:

  
  Can you tell me why my account went under review ?  Do you guys want me to wait entire year to get this resolved?

   

  
  Sincerely,
  
  ***** *******

• Initial Complaint

  Date:05/07/2024

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was using this service to send money to ******, after using this service for a while they locked my account. I called them and sent due to fraud I was no longer able to send money using this service. I asked them what I can do to find out what kind of fraud or how to clear this up. They told me there can be nothing done and will never be able to use the service again. SO I made another account but because my debit card information is associated with the account that is claimed to have fraud on, I am not able to make another account I called them to have them remove my debit card information and they refuse to help me

  Business Response

  Date: 05/09/2024

  HI ******,

  As we operate in a highly regulated industry, all client accounts are subject to routine screening. Upon review of the accounts you had opened with OFX, our compliance team had determined that your foreign exchange need has fallen outside our acceptable risk parameters and we are unable to provide you assistance with your transfer needs.

  To date, we have not processed any transactions on your behalf and currently do not hold funds that belong to you. Per your request, we have gone ahead and removed all ACH direct debit accounts you had linked with our service. We hope that this done to your satisfaction.

  Please let us know if you have any further questions or concerns.

  Kind regards,

  The OFX Team

  Customer Answer

  Date: 05/09/2024

   
  Complaint: 21677603
  
  I am rejecting this response because:
  
  Sincerely,
  
  *******************************

• Initial Complaint

  Date:04/09/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a bank account with ******* (recently acquired by OFX) On March 20 and 22 I made two transfers to another bank account of my company, these are still pending and have not yet been processed.Support requested some documents from me, which I promptly sent, after which I have not received a response. I cannot wait any longer, I want to receive my money as soon as possible as I believe they are withholding it for no good reason.

  Business Response

  Date: 04/16/2024

  
  

  Issue:
  
  The client (*********************************) instructed two payments to be made on March 20 (USD675.82) and March 22 (USD14.30).
  Both of these payments were held for compliance reasons.
  
  Timeline or Events:
  March 26: ******** was contacted on March 26 for further information, the request for which was intended to allow us to support the release of these transactions.
  March 26: A response was received asking for the payments to be released but not providing information to allow us to do so.
  Between March 26 and April 12: We have received multiple emails demanding the payments to be made.
  
  Between March 26 and April 12: We have made multiple attempts to call ******* on the number they have given us, which is also the number referred to below. The number is unobtainable and we are unable to contact the client this way.

  Additionally, we have made multiple attempts to respond to each of *******'s emails at the address from which they were received, which is also the address from which they registered for ******* services - info@taurosllc , all of which have bounced, the most recently April 12. See attached email:

  We have no reason to believe that these transfers cannot be completed once we have completed our due diligence, as required under the Australian AML/CTF Act 2006 (Cth). However, without being able to contact *******, we are unable to do this. 

  Best regards,

  *******

• Initial Complaint

  Date:10/05/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was trying to send money overseas to a family member but they were not able to send the money due to regulations. But instead of returning my money they told me to call my bank. I called the bank and they dont recall money so they try doing a dispute but because the transaction was authorized they can complete the dispute. I called OFX and they refused to return my money back to me.

  Business Response

  Date: 10/16/2023

  Hi *********,

  Upon review of the supporting document you provided to us from your bank confirming that they were unable to process the recall, we have gone ahead and returned the funds back to you on October 10th.

  Thank you for your cooperation and we hope that this is now resolved to your satisfaction.

  Kind regards,

  *************************

   

• Initial Complaint

  Date:08/21/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On July 25, i initiated a transfer to ***** through ofx (which i have used in the past); ofx took 10,000$ from my account. on july 31, i received an email from ofx stating that the recipient has been paid; a week llater the recipient had yet to receive the corresponding amount in their account. i called ********************, requested a trace and a mt 103, it took 5 days to get a mt 103 which I sent to the bank in ***** for them to confirm that such a transaction never got to them and actually had no chance of getting to them and that the transaction was stuck at one of their correspondent banks. At no point during my multiple calls with so called ofxperts did I get a clear information about what is happening. i have requested to talk with someone at management level who hopefully can give me straight answers to my questions instead of the vague and contradictory answers that I am getting so far: one ofxpert upon me asking for a refund, told me it would take 48 h, the next one told me that they are waiting for an answer from the bank in ***** ( how can that bank in ***** give you back something they do not have?)One would think that if you are in the business of moving money, you would know exactly where the money is, one ofxpert told me they cannot know for sure where the money is:. that is terrible to hear. I just want a complete refund without any further delay.

  Business Response

  Date: 09/01/2023

  Hello ******* -

  OFX has been actively reviewing this matter and working within our correspondent network of banking partners to ensure we identify the location of the funds.  Someone from our customer service team will continue to ensure you are informed of the status of the receiving bank's reply in relation to this matter.

  Thank you

  *******************

  Manager, OFX Consumer

  Customer Answer

  Date: 09/06/2023

  
  Complaint: ********
  
  I am not satisfied with this response because:

  my first demand for tracing the funds was requested on August 10; almost a month after, i have yet to receive a definitive answer about this trace. I honestly do not comprehend how a company specialized in moving funds across border will be having trouble with locating funds through their network. The worse part of it is through my multiple efforts to contact them and get information about the trace, it was repeatdely suggested that the receiving bank had the funds and is not answering them and the recall of the funds "IS ON
  BEST EFFORT BASIS AND IS SUBJECT TO:.
  DISCRETION OF THE RECEIVING BANK
  AVAILABILITY OF FUNDS IN THE BENEFICIARIES ACCOUNT
  BENEFICIARIES CONSENT." 

  That is outrageous, as I have repeatedly said the funds were never credited to the beneficiary and the receiving bank is adamant about not having received the funds ( see attached letter). The true character of a company is revealed when a problem occurs: one cannot solve a problem if one cannot acknowledge what is the real source of it and waist time in deflection. I am very disatisfied thus far as how this is being handled and I truly believe that OFx can and must do a better job at resolving these type of issues. I have been assigned now a contact person. I truly hope that the days to come will see a change and swift resolution which is a full refund of my hard earned savings.
  
  Sincerely,
  
  ******* ******

• Initial Complaint

  Date:07/07/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been using OFX for couple of years by sending money to the same receipient and the most recent 2 transactions have been troublesome. The last transfer was made on the 19th and the receipient isn't able to receive the money. I have to follow up with OFX myself on the status every single time. Then I receive an email saying failed to send to receipient without any further details on the next step. There's no explanation of why the failure and there's no remedy of what is the next action.

  Business Response

  Date: 07/07/2023

  Hello ************** -

  We apologize for the inconvenience, as our partner bank was unable to process the payment as per the instructions you provided, and their notification to OFX seems to have been delayed.  We understand how this is less than ideal, especially given your ability to process payment to the same beneficiary in the past.  We are working to identify what specifically prevented the payment from being processed in final.  Additionally, the head of our Consumer team was able to discuss the matter with you, and new instructions have been obtained to make payment.  If you have any further concerns please reach out to our customer service directly, and they can assist you   ************** 

   

  Thank you

  OFX Compliance

• Initial Complaint

  Date:04/10/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My name is *****************************. I registered for OFx to use and send funds to my family in ****** and I passed verification via OFx third party partner onfido. OFx decided they needed to speak with me on phone before approving my account. On April 10, 2023 I spoke with OFx and answered all questions but it is still showing on website that verification needed. I need this resolved. My customer number is ********* and my email is **************************

  Business Response

  Date: 04/13/2023

  Hello Didi -

  As part of our client onboarding journey all persons must complete screening with results that align to our risk appetite, this typically includes having a conversation with an applicant to ensure we have confirmed all applicable details required for compliance and risk mitigation purposes.  Upon completion of the onboarding process, it was determined that we are  unable to approve your application, as such OFX will be unable to provide any transfer services at this time. 

  Thank you
  

  OFX Compliance

• Initial Complaint

  Date:09/16/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I tried to use OFX to transfer $10,000 USD to my Euro account. The company kept asking me to send my passport image, which caused a delay and the funds won't arrive on time. I asked for a cancelation of the transfer and return of my fund over phone as well as email. Then they kept asking for my bank information and stopped responding to me at all starting September 14. Please respond to my request and complete the return of my funds ASAP.

  Business Response

  Date: 10/03/2022

  OFX takes all client complaints seriously, and upon review of your complaint OFX has identified that we continued to communicate with you, and returned the funds you reference within 48 hours of this complaint being submitted to the BBB.  In addition to OFX promptly returning the funds, it was noted that your financial institution recalled the funds, and OFX has been attempting to contact you to recover the funds now owed to OFX, please contact us at your earliest convenience at *****************.