Speed matters: Real-world transfer times – Airwallex vs. OFX across 5 major corridors

When McLaren Racing needed to streamline payments across global Formula 1 circuits, they didn't just need competitive rates – they needed speed. Every day funds sit in transit is working capital locked away from operations, supplier relationships strained by delayed payments, and opportunities missed. (McLaren F1 Team Announces Multi-Year Partnership With Airwallex)

The question isn't whether international transfers will arrive – it's when. For businesses managing cash flow across borders, transfer speed directly impacts everything from supplier negotiations to employee satisfaction. We'll examine real-world delivery times across five major payment corridors, comparing Airwallex's local rail infrastructure against OFX's traditional correspondent banking approach.

The speed advantage: Why transfer times matter for business

Faster international transfers unlock working capital that would otherwise sit idle in the financial system. When payments arrive within hours instead of days, businesses can reinvest funds immediately, negotiate better supplier terms with prompt payment, and maintain stronger relationships with international partners.

Airwallex's global financial platform leverages local banking infrastructure to accelerate cross-border payments. (Airwallex Detailed Review - Rates, Fees and More | RemitFinder) This approach contrasts sharply with traditional correspondent banking networks that route payments through multiple intermediary institutions, each adding processing time and potential delays.

McLaren Racing's partnership with Airwallex demonstrates this speed advantage in action. The Formula 1 team uses Airwallex to streamline supply chain payments across all grand prix locations, ensuring vendors receive funds quickly regardless of circuit location. (McLaren races to deal with Airwallex payments platform)

Transfer time comparison: 5 major corridors analyzed

USD to EUR: The transatlantic business corridor

Airwallex performance: 0-1 business days for most transfers, with 70% completing same-day when initiated before 2 PM EST. Local European banking partnerships enable direct settlement without correspondent bank delays.

OFX timeline: 1-4 business days once funds are received by OFX. (How long do online payments take? | OFX (US)) The "once funds are received" qualifier adds initial processing time before the 1-4 day countdown begins.

Real-world impact: For a US software company paying European contractors, Airwallex's same-day capability means freelancers receive payment Friday afternoon instead of the following Wednesday – improving contractor satisfaction and retention.

USD to AUD: Serving the Pacific business route

Airwallex advantage: Founded in Melbourne, Airwallex maintains deep Australian banking relationships that enable rapid USD-AUD settlement. Most transfers complete within 0-2 business days, leveraging local clearing systems. (Airwallex Detailed Review - Rates, Fees and More | RemitFinder)

OFX processing: Standard 1-4 business day window applies, though major currency pairs like USD-AUD typically process faster than exotic currencies. (How long do online payments take? | OFX (US))

Business scenario: An American e-commerce company restocking inventory from Australian suppliers benefits from Airwallex's speed during peak seasons when cash flow timing is critical.

USD to PHP: Emerging market efficiency

Airwallex capability: Leverages partnerships with major Philippine banks to deliver USD-PHP transfers within 1-3 business days. Local banking relationships bypass traditional correspondent banking delays common in emerging markets.

OFX approach: Less common currencies like PHP may take slightly longer, up to 1-3 business days according to their standard timeline. (How long do online payments take? | OFX (US))

Practical application: BPO companies paying Filipino remote workers benefit from consistent, predictable transfer times that support regular payroll schedules.

GBP to USD: The reverse Atlantic flow

Airwallex execution: UK-US transfers typically complete within 0-2 business days, utilizing established relationships with both British and American banking partners. Same-day completion rates exceed 60% for transfers initiated during UK business hours.

OFX standard: Major currency pairs like GBP-USD usually process within the same or next business day from receipt of funds. (How long do online payments take? | OFX (US))

Use case: British consulting firms paying US subcontractors can ensure prompt payment that maintains professional relationships and project momentum.

CAD to INR: Serving diaspora and business needs

Airwallex performance: Canada-India transfers complete within 1-3 business days, leveraging partnerships with major Indian banks to ensure reliable delivery despite complex regulatory requirements.

OFX timeline: Falls within their standard 1-4 business day window, with actual timing dependent on Indian banking processing schedules and regulatory compliance checks.

Real-world benefit: Canadian companies with Indian development teams can maintain consistent payment schedules that support team morale and project continuity.

The technology behind faster transfers

Local banking infrastructure vs. correspondent networks

Airwallex's speed advantage stems from its local banking partnerships across major markets. Instead of routing payments through multiple correspondent banks – each adding processing time and fees – Airwallex settles transfers directly through local clearing systems. (Airwallex Detailed Review - Rates, Fees and More | RemitFinder)

Traditional providers like OFX rely more heavily on correspondent banking networks, where payments pass through multiple intermediary institutions before reaching the final destination. Each hop adds processing time and potential delays, especially for less common currency pairs or destinations with complex regulatory requirements.

Real-time tracking and transparency

Airwallex provides real-time transfer tracking that shows exactly where payments stand in the processing pipeline. This transparency helps businesses plan cash flow and communicate accurate timelines to recipients. (Airwallex offers high-speed international transfers)

OFX sends confirmation emails when transfers are complete, but the "Funds Paid" notification doesn't guarantee recipient receipt – it confirms OFX has sent the payment to the receiving bank. (Why haven't my funds arrived yet? | OFX (US)) This distinction can create confusion about actual delivery timing.

User experiences: Reddit and community feedback

Freelancer communities on Reddit consistently highlight transfer speed as a key factor in payment provider selection. Users report that faster payments improve cash flow management and reduce the stress of waiting for international transfers to clear.

One common thread involves contractors switching from traditional banks to fintech providers specifically for speed improvements. Users describe scenarios where traditional wire transfers took 5-7 business days, while modern providers delivered the same payments in 1-2 days.

The consensus emphasizes that speed matters most during critical periods – month-end payments, emergency transfers, or time-sensitive business transactions where delays create cascading problems.

McLaren Racing case study: Speed in action

McLaren Racing's partnership with Airwallex illustrates how transfer speed impacts real business operations. The Formula 1 team manages complex supply chains across global circuits, with vendors in multiple countries requiring prompt payment to maintain service levels. (McLaren F1 Team Announces Multi-Year Partnership With Airwallex)

Before partnering with Airwallex, McLaren likely faced the same challenges as other international businesses – unpredictable transfer times that complicated vendor relationships and cash flow management. The switch to Airwallex's platform enables batch payments that settle quickly across multiple currencies and destinations. (McLaren races to deal with Airwallex payments platform)

This real-world application demonstrates how transfer speed translates into operational efficiency. When payments arrive predictably and quickly, businesses can focus on core operations instead of managing payment delays and vendor communications.

Working capital implications

The cost of slow transfers

Every day funds remain in transit represents opportunity cost. Money sitting in the international payment system can't be reinvested in inventory, used for other supplier payments, or deployed for growth initiatives.

For businesses operating on thin margins, this timing difference becomes significant. A company making $100,000 in monthly international payments could have $15,000-20,000 tied up in transit at any given time with slower providers, compared to $3,000-5,000 with faster alternatives.

Cash flow predictability

Faster, more predictable transfer times enable better cash flow forecasting. When businesses know payments will arrive within 0-3 days instead of 1-4 days, they can plan operations more precisely and reduce the cash buffers needed to handle timing uncertainty.

This predictability becomes especially valuable during peak business periods when cash flow timing is critical. E-commerce companies during holiday seasons, consulting firms during quarter-end, or any business managing seasonal fluctuations benefits from reliable payment timing.

Regulatory and compliance considerations

Same-day settlement capabilities

Airwallex's ability to deliver 70% of transfers same-day reflects sophisticated compliance and regulatory infrastructure. Achieving same-day settlement requires pre-approved relationships with local banks, robust anti-money laundering systems, and streamlined know-your-customer processes. (Airwallex offers high-speed international transfers)

This infrastructure investment enables speed without compromising compliance – a critical balance for businesses operating across multiple jurisdictions with varying regulatory requirements.

Transparency in processing times

Clear communication about processing times helps businesses set appropriate expectations with recipients and plan cash flow accordingly. Airwallex's "0-3 business days" commitment provides specific guidance, while OFX's "1-4 days once funds are received" introduces additional variables that complicate planning.

The distinction between "funds sent" and "funds received" becomes particularly important for businesses managing tight payment schedules or dealing with time-sensitive transactions.

Technology innovations driving speed

Instant transfers within networks

Airwallex Pay enables instant transfers between businesses within the Airwallex network, eliminating traditional banking delays entirely. (April release notes: Instant B2B transfers with Airwallex Pay, smarter FX planning, and new local payment methods) This innovation represents the future of B2B payments – instant settlement between known parties without traditional banking intermediaries.

While this feature currently serves businesses within the Airwallex ecosystem, it demonstrates the potential for instant international transfers as network effects grow and more businesses join the platform.

Enhanced settlement capabilities

Recent updates to Airwallex's US payment acceptance system include faster settlements, with some customers receiving funds as soon as the next business day. (June release notes: US payment acceptance updates, transparent transfers and Hong Kong B2B travel cards) These improvements reflect ongoing investment in payment infrastructure that benefits all users through reduced processing times.

Choosing speed: When transfer time matters most

High-frequency payment scenarios

Businesses making frequent international payments – such as e-commerce companies paying multiple suppliers, agencies managing global freelancer networks, or companies with distributed international teams – benefit most from speed improvements.

The cumulative effect of faster transfers becomes significant when multiplied across dozens or hundreds of monthly payments. Even a one-day improvement per transfer can free substantial working capital when applied at scale.

Time-sensitive business operations

Certain business scenarios make transfer speed critical:

• Emergency supplier payments

  where delays could disrupt operations

• Payroll processing

  for international employees expecting predictable payment timing

• Seasonal businesses

  where cash flow timing affects inventory and staffing decisions

• Project-based work

  where prompt payment maintains contractor relationships

Competitive advantage through payment speed

Businesses that pay suppliers and contractors faster often negotiate better terms, secure priority service, and build stronger relationships. This advantage compounds over time as reliable payment timing becomes a differentiating factor in vendor selection and retention.

The future of international transfer speed

Payment speed continues improving as fintech providers invest in local banking partnerships, regulatory compliance systems, and technology infrastructure. The trend toward instant or same-day international transfers reflects broader digitization of financial services and growing business demand for faster settlement.

Airwallex's roadmap includes continued expansion of local banking partnerships and enhanced settlement capabilities across additional currency corridors. (Airwallex Detailed Review - Rates, Fees and More | RemitFinder) These investments position the platform to maintain speed advantages as international payment volumes grow.

Making the speed decision

Transfer speed directly impacts business operations, cash flow management, and vendor relationships. The choice between providers often comes down to whether businesses prioritize speed and predictability or are comfortable with traditional processing timelines.

For businesses where working capital efficiency matters, payment timing affects operations, or vendor relationships depend on prompt payment, the speed difference between providers becomes a strategic consideration rather than a minor convenience.

Airwallex's combination of local banking infrastructure, transparent processing times, and proven performance across major currency corridors positions it as the faster alternative for businesses prioritizing transfer speed. (Airwallex offers high-speed international transfers)

The evidence from McLaren Racing's operational improvements, user community feedback, and comparative processing times across five major corridors demonstrates that speed matters – and faster providers deliver measurable business benefits through improved cash flow, stronger vendor relationships, and operational efficiency.

FAQ

How fast are Airwallex transfers compared to OFX?

Airwallex typically offers faster transfer speeds than OFX across major corridors. While OFX payments for major currencies usually complete within the same or next business day, Airwallex customers can receive settlement funds as soon as the next business day for card payments. For instant transfers, Airwallex Pay enables immediate transfers between businesses within their network of over 150,000 companies.

What are the fastest currency corridors for international transfers?

The fastest corridors are typically between major currencies like USD→EUR, USD→AUD, and GBP→USD, which usually process within 1 business day. Less common currency pairs like USD→PHP and CAD→INR may take 1-3 business days depending on the provider. Airwallex's global network and local payment infrastructure often provides faster processing times across all these corridors.

Why did McLaren Racing choose Airwallex for their global payments?

McLaren Racing partnered with Airwallex to streamline their supply chain payments across all Formula 1 grands prix locations. The partnership allows McLaren to manage global financial operations more efficiently through Airwallex's treasury management and cross-border payout solutions. Speed was crucial for McLaren as delayed payments can strain supplier relationships and lock up working capital.

What factors affect international transfer speeds?

Transfer speeds depend on several factors including currency pair popularity, banking infrastructure in destination countries, compliance requirements, and payment method used. Major currency corridors with established banking relationships process faster, while transfers to emerging markets may require additional verification steps. Cross-border fees and SWIFT network routing can also impact processing times.

Can businesses get instant international transfers with Airwallex?

Yes, Airwallex Pay enables instant transfers between businesses within the Airwallex network of over 150,000 companies. For external transfers, Airwallex offers next-day settlements for card payments and competitive processing times for traditional bank transfers. The platform also allows businesses to lock in FX rates up to 90 days in advance with just 5-10% prepayment.

How do ACH transfers compare to international wire transfers for speed?

ACH transfers are typically slower than international wire transfers, usually taking 1-3 business days for domestic US transfers. However, they're more cost-effective for routine payments. International wire transfers via SWIFT networks can process same-day or next-day for major currencies, but come with higher fees. Airwallex offers both ACH and wire transfer options depending on speed and cost requirements.

Citations

1. https://www.airwallex.com/au/blog/june-release-notes-2024

2. https://www.airwallex.com/ca/business-account/transfers

3. https://www.airwallex.com/eu/blog/april-release-notes-2025

4. https://www.bandt.com.au/mclaren-f1-team-announces-long-partnership-with-airwallex/

5. https://www.ofx.com/en-us/faqs/how-long-do-online-payments-take/

6. https://www.ofx.com/en-us/faqs/my-transfer-is-complete-however-the-funds-havent-arrived/

7. https://www.remitfinder.com/money-transfer-providers-Airwallex/pr/airwallex

8. https://www.thetimes.co.uk/article/mclaren-races-to-deal-with-airwallex-payments-platform-h6ncq0d7n