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.
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.
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
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.
It’s shaping up to be a big week for the global forex markets as investors await the results from the Dutch election on Wednesday and an expected rate hike from the Fed on the same day. Pile on Theresa May’s triggering of Article 50 slated for this week or next and ten days of consecutive losses for the Kiwi and it’s clear that everyone should be paying attention to how forex will impact their personal finances in 2017.
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.Read more
When Is the Dutch Election and Why Does It Matter?
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.
What is Trump’s effect on the value of the U.S. dollar?
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.
Where Are the Best Places to Get Plastic Surgery Overseas?
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.
10 Best Places for Retiring Overseas
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.
How to transfer inherited IRA
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.
How to save money on a destination wedding
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.
Currency Risk Management Strategies in 2017
Is Forex the Key to Your Property Investment Success?
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.
What Is Medical Tourism?
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 meaning
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.
Article 50 When Will It Be Triggered?
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.
What is article 50?
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.
Chinese New Year Shutdown Preparations
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.
How one retailer said ‘sayonara’ to being treated like a number
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.
OFX takes the sting out of luxury imports
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.
Canstar awards OFX with a 5-star rating for outstanding value money transfers
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.
Aussies lose millions on money transfers
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.
OFX wins digital identity excellence award in fraud prevention
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.
Business - How OFX became like one of the family at Zoratto Enterprises
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.
Expats - Increase Your Success in the Australian Job Market
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.
Studying In Australia? Your Preparation Checklist
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.
Buying and Importing Your First Aircraft
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.
Taking Care Of Family - The OFX Team
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.
How To Make Your First Transfer with OFX – The 3 Simple Steps
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.
Planning Your Next Move Once You Get To Pension Age
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.
Corporate Dealer Michael Judge On Making Payments To China
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?
The Growing Trends Of Destination Weddings
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.
What To Consider When Receiving Your Pension Abroad
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.
Planning a Destination Wedding? What to Consider Before the Big Day
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.
Are You Moving Overseas? Get Clued Up
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.
What to Consider When Sending Money Back Home
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.
What Are The Key Considerations When Studying Overseas?
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.
What Are The Key Considerations When Importing Luxury Goods From Overseas?
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.
What Are The Key Considerations When Doing Business Overseas?
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.
Your Business Makes Global Payments, But Have You Managed Your Exposure To Currency Risk?
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?
What Are The Key Considerations When Investing In Foreign Property?
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
Planning Ahead When Buying A Property Abroad – How To Budget
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.
You spoke, We listened
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.
How Brexit can affect your international money transfers
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
Overseas Property – What Are My Options?
Congratulations to our March Winners
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
A New Us, Thanks To You
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.
The Magic Month of March: 10 Chances To Win $1,000
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!Read more
Bye-bye OzForex… Say hello to OFX!
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.
Send Money Overseas At Rates Worth Celebrating This Chinese New Year
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.