We are often asked why you should choose OFX for your money transfers by our clients and so thought we would map it out for you in a blog post!
Keep more of your money as it travels around the world
Fix your FX rates
Create cash flow certainty, fix FX rates for up to 12 months and transfer later
Peace of mind
OFX is listed on the Australian Stock Exchange (ASX) and monitored by over 50 regulators globally
Talk to a real person at any time, day or night
Make transfers to over 190 countries (check rates here)
Easy to use
Check rates, make payments or track transfers online or via an app
How OFX works
Get a quote that is better-than-bank exchange rates.
Enter your recipient’s bank account details and lock-in your transfer.
Send your funds to OFX and they’ll complete the transfer to your recipient.
Why should you choose OFX?
- Cost-effective – Marketplaces and payment providers charge high margins on your transfers.
- Fast – Expedite critical aspects of your supply chain with fast, efficient money transfers. You choose when to bring your money home, wherever in the world it is.
- Easy – Get the equivalent of a local bank account in today’s most profitable international markets: USD, EUR, GBP, CAD, AUD and HKD. Wherever you want to grow, OFX is already there.
We hope that explains Why should you choose OFX? But if not then keep reading!
Create an account
Our account opening process is fast and simple so you can quickly get back to your day. Just fill in a few details and an OFX team member will call you to complete setup.
Provide your new OFX account number to your online marketplace and start receiving sale proceeds directly into the account.
You decide when to convert your proceeds back to your home currency or set up automatic transfers. To stay in the loop, track your transfers and check balances online.
Does OFX charge fees?
*OFX charges no transaction fees. Third party fees may apply.
What other services do they offer?
Do you now understand Why should you choose OFX? OK, lets continue!
OFX takes care to gather the right information from you, to protect you from identity theft and fraud. Passwords, security questions and automatic time-outs are in place to keep your account safe.
OFX uses sophisticated technology to monitor registrations, logins and transactions to identify suspicious activity. Their fraud system utilises a multi-layered approach to detect and prevent fraud by detecting phishing, malware and fraudulent apps that are targeting their product and customers.
To protect your information from being intercepted, the OFX website’s Secure Socket Layer (SSL) encryption creates a secure connection with your browser when you register and login into their online services.
How To Protect Yourself
OFX are committed to researching, developing and adopting leading digital security technologies to provide you with a safe and secure service.
- Keep your passwords and security details safe, so no one else can access your online accounts.
- Secure your personal documents at home, at your work, and when you travel.
- Download security updates and use anti-virus software to protect against attacks from new viruses.
- Identify and delete hoax emails. Filter and delete spam (emails from a source you don’t trust).
- You should also avoid using unsecured Wi-Fi networks for secure transactions, like banking or online shopping.
- When using social media, adjust privacy settings to control what you share. Be careful how much personal information you post or reveal.
Is it any clearer Why should you choose OFX? Ok this next part should give you a much better understanding!
What is a money transfer?
Single transfers, or “Spot Deals” allow you to lock-in our great rate, send us your funds and let us do the rest. Whether you’re sending or receiving funds, we make it simple, swift and secure.
- Locked-in OFX rates
- Fast transfers
These are ideal for recurring transfers such as a monthly mortgage or quarterly school fees. Whatever your needs are, our recurring transfers are scheduled to ensure you’re on time, every time. Simply set up a transfer schedule and leave the rest to us.
- Zero OFX fees & direct debit available
- Minimum 4 transfers
OFX can help manage your personal and business foreign exchange risk with a variety of transfer options.
Target Rate Transfers (Limit Orders) allow you to set your target rate, 24 hours a day, 5 days a week. This ensures you don’t miss out if your target rate is reached overnight or while you’re out with family and friends. Once your target rate is triggered, we’ll contact you to complete your transfer.
- Valid up to 6 months
If you need to lock in a rate but aren’t ready to transfer now, our Forward Contracts may be for you. You can book transfers between two days and twelve months from today, protecting you against exchange rate movements. Forward Contracts can protect your transfers from currency fluctuations but there are some risks you should know about.
- Locked-in OFX rates
- Manage your cash flow