There are more options to transfer money internationally than letters in the brand name OFX.
Explore your advantages like rapid transfers, risk management and FX options below.
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.
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.
Buy now, transfer later
If you need to lock in a rate but aren’t ready to transfer now, our Forward Exchange Contract may be for you. You can book transfers between two days and twelve months from today, protecting you against exchange rate movements.
Set your target rate
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.
Our FX Option gives you the right, but not the obligation, to transfer at a certain time and rate, in exchange for an up-front premium. This provides you with protection against adverse exchange rate shifts while also allowing you to take advantage if the rate moves in your favour. It really is the best of both worlds.
Foreign Exchange Transfer FAQ’s
|What is a single transfer?|
Need to send money swiftly and securely right now? Our single transfer option may be right for you.
Also known as a “Spot Deal,” a single transfer means you can lock-in the current exchange rate and start sending your money to your recipient.
Legally you’re required to send your funds to us within 24 hours of locking-in the deal. Then we’ll send your funds to your recipient using our global network of bank accounts.
You can choose from 55 major and exotic currencies to transfer with. Select a currency pair and enter your transfer amount in our currency converter to start a single transfer today.
|What is the difference between a Forward Exchange Contract, a Limit Order and an FX Option?|
Our range of risk management transfer options all help you to manage the risk associated with larger transfers and provide benefits for both personal and business transfers.
Forward Exchange Contracts allow you to “buy now, transfer later.” This could be right for you if you want to lock-in the current exchange rate but aren’t ready to make the transfer now. You can schedule your transfer between two days to twelve months from today, protecting you from rate fluctuations. Please note there is a minimum transfer amount of AUD 50,000 or equivalent.
With our Limit Order you can set your target rate and once it’s triggered we’ll contact you to complete your transfer. This means we’ll watch the market for when you can’t, so you save time as well as your money with our great exchange rates. Our minimum transfer amount for Limit Orders is AUD 30,000 or equivalent and is valid for up to 6 months.
An FX Option gives you the right, not obligation, to make a money transfer at a certain exchange rate and time for an up-front premium. We like to think of it as being the best of both worlds, giving you protection against adverse rate movements while allowing you flexibility to take advantage of favourable rate movements. The minimum transfer amount is AUD 50,000 or equivalent and is only available for clients based in Australia.
|Can I lock-in a rate before I send you my funds?|
Yes, you can lock-in a rate before you send us your funds. This is how it works:
It’s easy to set up a recurring transfer plan with us, so you never have to worry about your transfers getting made on time.
Whether you’re making a personal or business transfer, we’ve got a way to transfer to suit your needs. So no matter where, when or what your transfer is for, OFX it.
If you want to make a one-off money transfer, our single transfer may be for you. If you’d like to make multiple transfers, perhaps for regular mortgage or business payments overseas, our recurring transfers will allow you to set up an automated transfer schedule.
Beyond our instant transfer options are Forward Exchange Contracts, Limit Orders and FX Options which help manage your transfer risk. These are suitable for larger transfer amounts and provide you with a degree of rate security with added flexibility to take advantage of the market.