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.
OFX Review Summary
Our OFX review confirmed low international transfer fees with OFX is a flat fee of 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 Australia (formally OzForex) you will enjoy:
- No receiving bank fees in most countries
- Extremely competitive foreign exchange rates across 50 currencies
- LOW FEES: AU $15 fee for transfers under AU $10,000, no fee for over AU $10,000.
- 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.
- 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.
OFX Minimum Transfer Amount
The minimum amount you can transfer via OFX Australia is very reasonable at AUD 250 (or equivalent).
OFX Fees in AustraliaAs stated in the OFX money transfer review summary above, OFX’s fee structure is simple and cheap! If you are transferring an amount under AUD 10,000 then there is a flat fee of AUD 15. If you are transferring more than AUD 10,000 then they will not charge you a transfer fee. Its that simple! OFX note on their site that
Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient. This fee may vary and OFX receives no portion of it. If you’re concerned, simply talk to one of our team members to discuss your transfer.This is standard, and to be expected with all International Money Transfer Services.
OFX Exchange Rates
More Exchange Rates
Supported Foreign Currency
OFX supports the following foreign currencies for payments:
|United Arab Emirates Dirham
|Hong Kong Dollar
|New Zealand Dollar
|South African Rand
|Sri Lankan Rupee
|Solomon Island Dollar
|Chinese Yuan Renminbi
|Tongan Pa anga
|Peruvian Nuevo Sol
|Papua New Guinea Kina
|South Korean Won