OFX (previously known as OzForex) offers 17 years experience in foreign exchange with services available across 190 countries. OFX is led by a global support team based in 6 countries, employing 200 staff, and is a reliable alternative to banks for international payments and transfers. The company has securely transferred over $100 billion since their establishment in 1998 and are focused on providing an innovative 24-hour, 7 days a week, service to their customers. OFX offers transfer options to both individuals and businesses.
OFX was founded in Sydney, Australia, in 1998 and commenced then as an information-only website. In 2001, due to demand, the company launched an online money transfer facility and has since grown it's global presence moving into New Zealand, UK, Canada, USA and Hong Kong. OFX now looks after 3,250 transfers each day across the world.
| Product Name | OFX International Money Transfer |
| Min. Transfer Amount | AUD 250 |
| Transfer Methods | Online, Phone |
| Transfer Options | Single transfers, Recurring transfers, Limit orders, Forward exchange contracts, FX option |
| Transfer Speed | 1 day |
| Banking Partner | OFX |
| Customer Service | Online, Phone 24/7 |
| Available Currencies | AED, AUD, ANZ, BHD, BGN, BHD, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MYR, MXN, NOK, NZD, OMR, PEN, PGK, PHP, PLN, PKR, RUB, SAR, SBD, SCR, SEK, SGD, TOP, THB, TRY, TWD, TZN, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR |
Personal foreign exchange
OFX tailors their transfer services for individual use and aim to be flexible. OFX can even accept part payments depending on the specific circumstances. With a secure online platform, you can access an efficient transfer facility across a huge range of currencies at often better rates than traditional banks. OFX specializes in assisting with personal transfer situations that include sending money internationally, getting married overseas, purchasing luxury goods, international study, relocating, buying property, operating a business overseas or investing.
Business foreign exchange
OFX's global presence and worldwide competitive rates make it a great choice for business transfer needs. OFX creates a safe platform to pay vendors and suppliers operating in another country as well as also the ability to receive money. OFX business customers are assigned a dedicated account manager and have access to 24-hour service to best meet their business efficiency requirements
OFX has been a un-disputable choice for many customers over the last few years due to the company's greatly competitive rates, low fees and ability to receive a quote online in minutes. Their personalised service allows customers to receive a range of options and transfer structures. Remittances are quick and you can see your transfer history, payment status and select beneficiaries all online. OFX are one of the leading international transfer services through their smart and innovative online platform. The website is easy-to-use with quick transfer calculators as well as live and historical exchange rates. For added convenience, users can download the OFX app to make transfers on-the-go and even faster. OFX also offer rewards for referring friends to the service.
Adding to its popularity, OFX has a strong commitment to the security of personal and account information. With advanced identity protection and fraud prevention measures, customers can have peace of mind when utilising the transfer service. The system is multi-layered and OFX operates as a trusted global network with 115 highly regulated bank accounts.
The OFX site's Secure Socket Layer (SSL) encryption establishes a secure connection with the customer's browser, further protecting information exchanged.
OFX also offers a variety of risk management options such as Forward Exchange Contracts and Limit Orders that help protect against volatility in the market.
Easy Registration
Before making a transfer, OFX requires customers to first register in a few simple steps and provide standard details online. From there, a customer service representative calls to finalise the account setup, after which there are no obligations to make a transfer. The service can be used as little or as much as you like.
Typically, your identity and details are verified on the phone and in some cases additional documentation needs to be supplied. Accounts that require extra attention are processed as efficiently as possible, within a few business days.
Global customer service
Before making your first transfer, a team member will contact you to confirm your transfer and rate. OFX has a supportive global team on standby when you need assistance or have any questions.
Smart Currency Transfers
OFX have developed a streamlined online system to complete overseas transfers. Once locking in your transfer, you first deposit the funds to OFX from your standard bank account, commonly by BPAY. Business customers can arrange to have funds debited directly for an even smoother service. A full list of ways to make your payment to OFX are sent via email once registration is complete.
Getting the money delivered to your recipient takes approximately 1-2 business days for most countries.
OFX allows you to stay updated on the status of your transfers by sending you an email or SMS. The company's mobile app is an added convenience to check and track your transfers.
Becoming an OFX customer is free. OFX have one standard fee of AUD 15 if the transfer is less than AUD 10,000. Transfers over this amount are completely free with no transfer fees charged. It is good to keep in mind that some third-party banks on the recipient's end may deduct a fee from the transfer amount. This is completely separate to OFX and is not controlled by OFX in any way. For any concerns, simply get in touch with OFX to discuss the transfer in more detail.
Each OFX user receives their own Customer Rate which depends on the frequency and size of the transfers they make through the service. OFX takes a small percentage of each transfer above the current market (interbank) rate which makes it a much cheaper alternative.
