International Money Transfers can be expensive if you are using the major banks. Often the cheapest way to send money overseas is by using an online international money transfer service. By using a firm such as OFX (the new name for OzForex) you can transfer money faster and for a lot less. OzForex Limited ABN 65 092 375 703 (trading in Australia as “OFX”) is the parent company reviewed below, however elaborated OFX analysis of their UKForex subsidiary is also available.
Our OFX review confirmed low international transfer fees with OFX starts from only AUD 15.00 and their foreign currency exchange rates are much better than banks and other providers. Best of all you can do it anytime you like online or by phone – they are open 24-hours a day, business days!
By using OFX (formally OzForex) you will enjoy:
- No receiving bank fees in most countries
- Extremely competitive foreign exchange rates across 50 currencies
- Online access 24/7
- Access to a dedicated Dealer by phone 24-hours a day, 5 days a week
- Complete exchange rate transparency
- You’re dealing with a highly trusted international money transfer service which was founded in 1998, and is licenced with over 50 global regulators! In Australia, OFX is regulated by ASIC under AFSL number 226484.
- No transaction fees for amounts over AUD 10,000
- Risk management tools through Limit Orders and Forward Exchange Contracts
- Fast online international money wire transfer to chosen international bank account
- Exchange rate alerts via email
- Accessing OFX highly regarded daily and weekly “Market Commentary”
Registering with them is FREE and you can view their live dealing rates immediately.
Minimum Transfer Amount
The minimum amount you can transfer via OFX is AUD 250 (or equivalent).
Supported Foreign Currency
OFX supports the following foreign currencies for payments:
Standard Currencies
| AED | United Arab Emirates Dirham | GBP | Pound Sterling | PLN | Polish Zloty |
| AUD | Australian Dollar | HKD | Hong Kong Dollar | SEK | Swedish Kroner |
| CAD | Canadian Dollar | JPY | Japanese Yen | SGD | Singapore Dollar |
| CHF | Swiss Franc | MXN | Mexican Peso | THB | Thailand Baht |
| DKK | Danish Kroner | NOK | Norwegian Kroner | USD | US Dollar |
| EUR | Euro | NZD | New Zealand Dollar | ZAR | South African Rand |
Exotic Currencies
| BND | Brunei Dollar | LKR | Sri Lankan Rupee | SBD | Solomon Island Dollar |
| CNY* | Chinese Yuan Renminbi | MAD | Moroccan Dirham | SCR | Seychelles Rupee |
| CZK | Czech Koruna | MGA | Malagasy Ariary | TOP | Tongan Pa anga |
| FJD | Fiji Dollar | MYR | Malaysian Ringgit | TRY | Turkish Lira |
| HUF | Hungarian Forint | OMR | Omani Rial | TWD | Taiwanese Dollar |
| IDR | Indonesian Rupiah | PEN | Peruvian Nuevo Sol | VND | Vietnamese Dong |
| ILS | Israeli Shekel | PGK | Papua New Guinea Kina | VUV | Vanuatu Vatu |
| INR | Indian Rupees | PHP | Philippine Peso | WST | Samoan Talar |
| KRW | South Korean Won | PKR | Pakistan Rupee | XOF | CFA Franc |
| KWD | Kuwaiti Dinar | SAR | Saudi Riyal | XPF | CFP Franc |
*Corporate only
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