Discover how to make the most of your international money transfers when you OFX it
Christmas has always been an important season for retailers looking to capitalise on holiday spending. But nailing seasonal sales requires months of preparation, which means that for most online retailers, Christmas is already in full swing by July.
2017 has been a banner year for global economic growth, and that is putting pressure on central banks to adjust their monetary policies. Just last week, the Bank of Canada (BOC) made the first interest rate hike in nearly seven years. As the Aussie hits a 25-month high against the USD, all eyes are on the impending RBA’s speech on Wednesday around the Q2 Consumer Price Index.
Online sellers can start selling products online without inventory by using a method called “drop shipping,” where the seller receives an order, buys it directly from the manufacturer, and ships it straight to the customer.
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Are you preparing for an international move but aren’t sure how to pack everything? Check out these tips on how to pack your life in two suitcases.
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Buying goods from overseas is easier than ever, thanks to the internet, and it could be a great strategy if you are trying to save money. You could shop for your favourite designer brands from the comfort of home without having to travel anywhere.
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If you are smart and strategic while traveling and shopping abroad, you could purchase that designer outfit in Paris that you have been eyeing up, without having to worry about how much you will have to pay in additional fees.
There are a variety of reasons why a live exchange rate is always changing. For example, the various levels of inflation that occur throughout the world, and the varying interest rates from one country to another will affect a live exchange rate.
With a reliable way to pay for international goods in a different foreign currency, a literal world of possibilities opens up to shoppers, especially those purchasing luxury goods. We take a look at what savvy online consumers need to know, and need to look out for, when buying online in a foreign currency.
International education is a wonderful thing. Paying for it should be, too. Let's take a look below at some of the most popular types of international schools, exactly what they offer to curious academics like yourself, and some of the ins and outs of paying for them!
Five of the most affordable places to study abroad include Mexico, Costa Rica, Malaysia, Germany, and Poland. So whether you want to head off to a tropical location, Europe, Latin America, or Asia, these are destinations that will give you a quality education you can afford.
Transferring money from your domestic bank account to a foreign bank account is easy with OFX. In just a few simple steps, you can set up single or recurring international transfers via our website or mobile app, and every transfer is swift and secure
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There are a host of attractive and affordable places throughout Europe for university students from around the world who wish to study in another country. Here are our top picks of the best places to study abroad in Europe, so you can narrow down your choices to the ideal fit for your needs, budget, and expectations.
Whenever you’re planning on sending money to India from US, follow these tips. You’ll save money and send your funds securely and quickly.
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Jumping on a plane and heading abroad is exciting, but it doesn’t mean that you can leave your debts behind. Preparing yourself before you leave and knowing how to manage recurring payments while you’re overseas is important to ensure that you remain in control of your personal finances wherever you are in the world.
Multiple factors affect whether or not you need to pay tax on money transferred from overseas. When you are ready to make your overseas money transfer, use OFX so you don’t get stung by high bank fees and margins.
Are you planning on moving to a new country? Discover the best way to transfer your savings overseas while saving on exchange rate fees.
Studying overseas is a great way to expand your horizons, but it could get pricey. Here are ways to fund study abroad so you don’t break the bank.
When Theresa May called the snap election in April, markets were confident the result would be a significant Tory majority; strengthening May's position and giving her a mandate as Prime Minister of the United Kingdom.
Are you planning on moving money internationally? A lot of people immediately think of using their bank to transfer money between countries, but there is a better—and more affordable—way to get the job done. Discover the best way to transfer money between countries easily and swiftly.
When you’re planning on transferring money internationally, there are a few things you should know. Here’s some helpful advice for sending money overseas.
Whenever you’re planning on sending money to India from Australia, follow these tips. You’ll save money and send your funds securely and quickly.
Whenever you’re planning on sending money to India from UK, follow these tips. You’ll save money and send your funds securely and quickly.
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Thanks to advanced technology, free trade agreements, and globalisation, it’s easier than ever to expand your business operations into overseas markets.Managing your currency exposure may give you the competitive edge you need to protect your profits abroad.
If you’re receiving an overseas inheritance, you might wonder who owes the inheritance tax that is often required. Most of the time, the inheritance tax will be acquired from the estate itself and paid by the executor.
To save money when you transfer money to a foreign bank account, you should avoid your bank. Most banks’ daily exchange rates contain a hidden margin of up to 5% over the live exchange rate. Big-name payment providers charge similar high margins. Use a specialist money transfer company to keep more of your cash.
The kiwi and loonie are crumbling against the British pound. As U.S. President, Donald Trump, continues to threaten critical trade partnership agreements like NAFTA and the TPP, export economies with strong ties to the U.S. including Australia, New Zealand and Canada are paying the price.
OFX appointed a new CEO in February. After 100 days at OFX, Skander Malcolm discusses how to tap employee capability and potential in the modern age.
OFX appointed a new CEO in February. With more than 23 years’ experience in financial services in both established and emerging markets, Skander Malcolm is focused on driving growth and market share while developing talent and increasing employee engagement.
Foreign exchange exposure refers to the risk a company undertakes when making financial transactions in foreign currencies.
SWIFT codes are 8 to 11 characters long and made of both letters and numbers. You can typically find them on a bank statement or on your bank’s website.
Compared to previous weeks, sales of rand have more than doubled at OFX as savvy customers cash in on the rand’s decline. As an emerging market currency, the rand is also one of the most volatile of the commodity currencies
Whether you’re a forex pro or a total newbie, it can be hard to tell the fact from the fiction when it comes to foreign exchange. Check out our list of the biggest forex myths, so you can steer clear of the hype and make an informed decision.
If you’re interested in working in another country, knowing exactly where to find jobs abroad will ensure you uncover the best opportunities. From networking to attending job fairs, these are the specific steps that you should take if you want to land a fulfilling and lucrative position in no time.
The ultimate value of your experience abroad will depend on your willingness to take risks and embrace the newness and uncertainty that comes with living overseas. Ultimately, living overseas can be challenging, but it’s worth the effort.
2017 has been a banner year for global economic growth, and that is putting pressure on central banks to adjust their monetary policies. Just last week, the Bank of Canada (BOC) made the first interest rate hike in nearly seven years. As the Aussie hits a 25-month high against the USD, all eyes are on the impending RBA’s speech on Wednesday around the Q2 Consumer Price Index.
If getting hitched in an exotic location sounds like your perfect day, staying organised will streamline the planning process. So even though destination wedding can be a lot of work, with strong planning and a bit of determination, you can have the day you've always dreamt of.&To help you get started, we’ve compiled a handy destination wedding checklist.
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The Dutch election is scheduled for March 15, 2017 and with the populist, anti-Islam politician Geert Wilders leading the polls, this election may have a profound effect on the future of the European Union.
The dollar gained following Trump's election victory in expectation of fiscal stimulus and higher interest rates. To the financial markets’ surprise, since inauguration, the Trump administration has been focused on immigration and trade.
According to The International Medical Travel Journal, some of the top destinations for medical tourism include Malaysia, Germany, the UK, Greece, India, and Spain, but other nations top the list when it comes to cosmetic procedures, in particular. For plastic surgery overseas, Brazil, Thailand and Malaysia take the top spots.
Are you ready to spend your golden years in comfort, style, and maybe even a bit of luxury? Then check out this list of the 10 best places for retiring overseas and reinventing yourself and your life.
An inherited IRA is a retirement account that you receive when you become the beneficiary of someone else’s IRA. After someone close to you, such as a family member or friend, has passed away, you might inherit his or her IRA, and your transfer options will depend upon your relationship to the deceased.
Money-saving strategies can be applied to all destination weddings, whether you’re planning on hosting your event on a beach in Bermuda, in the heart of London, or in a remote area of New Zealand. To make your destination wedding come to life without breaking the bank, check out some handy tips.
Investing in real estate overseas, or purchasing big-ticket items like collectibles, helicopters and jets, and gems is a good way to strengthen your personal finances. To help you be certain that every forex investment will move you closer to overall investment success, we’ve compiled a list of helpful tips that you can use to reduce your risk.
Medical tourism is the phrase used to describe all of the people who travel to foreign countries in order to receive medical treatments. Medical tourists usually travel so they can access medical care at a lower cost than what they would have to pay if they received the same treatments at home.
Hard Brexit means that the UK would likely relinquish access to the EU’s single market including the customs union. Britain would retain sovereign control over trade deals, immigration and law-making within its borders. Future trade partnerships with European nations may be based on World Trade Organisation (WTO) rules.
U.K. Prime Minister, Theresa May, hoped to trigger Article 50 of the Lisbon Treaty by the end of March 2017. However, the Supreme Court recently ruled that she must seek parliamentary approval before triggering Article 50. Determined to meet her own March deadline, May has submitted a simplified bill to parliament in an effort to expedite negotiations.
A lot of people ask us how we deliver such great rates. Here are the basics...
The Treaty of Lisbon, which came into effect in 2009, brings together two previous treaties to form the constitution of the European Union. Within the Treaty of Lisbon, Article 50 outlines the conditions under which a member country can leave the E.U. Once invoked, Article 50 places a two year deadline on the withdrawal negotiations.
College is a time to learn about yourself while learning about the world, and there really is no better way to do that than by heading off on your own to study abroad.
January 28th is rapidly approaching and that means that 1.4 billion people are about to go on holiday. Chinese New Year, or the ‘Spring Festival’ as it’s known in China, is a forty-day festival that spurs the world’s largest human migration.
After having kids, Noelle Sadinsky had a vision for a business opportunity: “kids eating junk makes me want to cry.” When she found a lunchbox with “patented, high-performance cooler panels”, she wanted to distribute the product far and wide to promote a healthy lifestyle.
If you’ve got a passion for luxury items, we get it. Vintage cars, private planes, extraordinary estates, we know these are the pleasures derived from a life of hard work and diligence. When you’ve searched the world over for that one exquisite purchase, we help you bring it home as affordably as possible.
From the sovereign debt crisis to the immigration backlash and Brexit, the EU continues to battle large issues and anti-establishment voices that threaten to tear the union apart. The Italian referendum may send another shock throughout Europe.
Last week, Canstar honoured OFX with a 5-star rating for international money transfers making this the first year that a non-bank international money-transfer provider has achieved the top ranking. Using a sophisticated methodology comparing cost and features, Canstar researched and rated 19 international money transfer providers yet awarded only OFX and two others with the top 5-star ranking.
Every year, thousands of Aussie expats send money overseas. New research conducted in Australia by Galaxy Research reveals that 80% of Australians would use a bank to transfer their money.* That may be an expensive choice as more than half of those surveyed are completely unaware that banks often charge a 5% margin on their foreign transfers.
At the 2016 Digital Identity Summit, a panel of six security experts and analysts awarded the Fraud Risk Management team at OFX with a Fraud Prevention Award for strong cross-border impact.
We recognise that the people who dream big are the people who change the world. But of course, getting your international business up and running isn’t easy. That’s why we work hard to make your overseas payments as simple and seamless as possible. See what our customer Andrew Zoratto has to say.
When it comes to moving overseas and finding work, many things will determine your success, but we think the greatest factor is preparation. At OFX, we’ve teamed up with leading professional recruitment consultancy company Michael Page to bring you some solid advice when it comes to looking for work as an expat in Australia.
Congratulations! You’ve received your acceptance letter from the university of your choice. This is where the real adventure begins. To make sure you’re as ready as you can be, we have prepared a checklist for life as an international student in Australia.
A private plane is often seen as the ultimate luxury item – the sort of lifestyle accessory reserved exclusively for the rich and famous. But while private aircraft, including helicopters, are certainly big-ticket items, it’s not just the jet set who see the sense in having their own set of wings.
At OFX, we have a stellar team, from Australia right the way across our 6 global offices to San Francisco. From our hardworking payment experts to our dedicated dealing team we have over 40 nationalities from all walks of life, many of whom regularly send money to their loved ones. We asked a few of them to share their stories and the reasons they send money back home.
At OFX, we pride ourselves on bringing you a quick and easy-to-use money transfer service. Using our established global network, we send money to 190 countries in 55 currencies on behalf of 300,000 customers worldwide. That’s no walk in the park, but we think it should be for you. So we’ve broken down your first money transfer into 3 simple steps.
Take your Age Pension overseas when you retire – avoid the pension pitfalls and transfer your money hassle-free.
As you approach pension age, new lifestyle possibilities may start to present themselves. Depending on how you see the next chapter in your life unfolding, you may be able to make some exciting choices about how you want to live. To really take advantage of these golden years, we believe that all you need is a bit of direction. We’ve listed a number of destinations to give you an idea of what’s possible when you’ve got your pension in your pocket and the freedom to explore.
Australians have long done business with Asia, and in particular, China. Over the past year, news organisations like the ABC, News.com.au, and the Sydney Morning Herald have reported on the growth of the Chinese economy slowing. Despite this, economic growth in China is still said to be exceptional, and many Australians continue to do business there. So what do you need to know about doing business with China?
Getting married overseas can be a dream, and with the plethora of bridal blogs and wedding writers reporting on destination weddings, it may feel like more and more couples are tying the knot abroad. But along with this apparent trend is the risk of doing the same as everyone else. So the big question for your big day is ‘how do I make my overseas wedding unique?’ At OFX, we’ve compiled a list of growing trends from the past few years to give you an idea of what others are doing to make their day that little bit more special.
At OFX we think it’s important to enjoy the fruits of your labour. When entering the next chapter in your life there’s always plenty to look forward to, but it’s important to make sure you’re well-prepared. We've complied some tips on how to save money, and general considerations to make when receiving your pension from abroad.
Overseas weddings are truly a dream come true. Whether white sandy beaches, stunning cliffs or backdrops on an awe-inspiring lakeside, the bride, groom and guests are bound be part of a very memorable occasion. But along with an ambitious overseas wedding comes the need for advanced planning. At OFX, we have assembled a list of key things to consider when tying the knot abroad. After all, you can never be too prepared when it comes to your big day.
There’s something very exciting about being an expat in a new country. There’s always so much to learn about your new home, but the key to being comfortable is getting clued up on emigration.
For expats in Australia, it can be crucial to send money back home in support of family and friends. At OFX, our minimum transfer amount of AUD$250 and competitive exchange rates means you’re never too far away to lend a helping hand to those who need it. As well as offering great exchange rates that can make your money stretch further at the other end, we’ve decided to put together a list of key considerations to make when sending money back home.
Studying in Australia is a unique experience that can enrich a young (or indeed adult) life. For international students carving out their future in Australia, the extreme excitement felt upon arrival is understandable. But along with this excitement is likely to be some trepidation, both from the student and their parents. At OFX, we bring peace of mind and reassurance by offering fee-free* money transfers and foreign exchange rates at a much lower rate than the banks.
Whether pure passion or a potential investment, high-value luxury items can range from supercars to yachts to private planes and expansive estates. Rare and unique collectibles from all over the world can often inspire you to make large transactions on luxury goods both at home and abroad. At OFX, we can help you save on those sizeable foreign currency purchases.
Whether you’re an importer making overseas payments to your supplier or an exporter with your sights set on overseas expansion, it’s important to manage your currency risk exposure. Here are some of our top considerations.
In Australia today, there is a significant increase in international import/export, and a growing global marketplace is the main reason for this. As such, there has never been a greater need for fast, secure and low-cost FX payments.
How do you know if your business needs to manage its currency risk?
The Aussie dollar has recently made a significant comeback against the US dollar. This change could make it easier for Australians to buy property overseas, but with increased opportunity comes risk and exposure to currency markets. Whether you’re interested in a retirement patch, a holiday home or a lucrative investment, you’ll want to avoid spending more money than necessary during the settlement and as you continue to maintain it.
For insight into the often-overlooked aspects of buying a property abroad Read More
How to budget to buy a property abroad and save money on holiday homes and investments with currency conversions.
Buying a home in a foreign country is both a major investment and an exciting opportunity, but sometimes the scale of the project can feel a little daunting. The key to successfully investing in foreign land or housing is knowing How to Budget.
Since we launched our OFX brand and website in December, we’ve had a ton of positive response, but some of you have gone the extra mile and offered your feedback on what we could make even better. Put simply: you spoke, and we listened.
Whether you’ve seen it on the news or witnessed its dramatic effects on our live Market Rates page, the European Union referendum has taken centre stage in recent months.
Follow us as we break down Brexit and its effects on British expats in Australia, plus the options available to our customers during these unpredictable times, Read more
We are excited to announce the winners of the OFX March 2016 Promotion offering 10 lucky customers the chance to win 1 of 10 $1,000 cash prizes by simply making an international payment of AUD5,000.00 (or equivalent) in March 2016.
Click here for the full list of winners
You might remember that at the end of last year we made a New Year’s resolution. Taking our experience and expertise as one of the world’s foremost foreign exchange services, we stepped into 2016 as the new and improved OFX.
We’re giving 10 lucky customers the chance to win $1000 in cash when they transfer money with us throughout the month of March. Got some money that needs sending? Transfer now for your chance to win!
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We'd like to introduce OFX, the new name for OzForex. We're rolling out a new brand and a new website – we hope you enjoy using it.
So what else is new? Well, not much! We’ll still be delivering the same excellent service using the best-in-class payments platform we've been developing over the past 17 years. The only difference is that now we'll no longer be known as OzForex.
Chinese New Year is nearly here, meaning much of Asia will shut down in celebration of the year of the monkey. In 2016, Chinese New Year falls on 8th February – but much of mainland China will be closed for up to two weeks for festivities. If you have upcoming transfers to make, now’s the time to act.
IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex Limited ABN 65 092 375 703 (trading as “OFX”) and its subsidiaries make no recommendations as to the merits of any financial product referred to in the website, email or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.
DISCLAIMER: OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website. Read full disclaimer. OFX provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.
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