How We Keep Our Rates So Low

A lot of people ask us how we deliver such great rates. Here are the basics:

Global By Local (GBL) processing

OFX has a network of 115 bank accounts worldwide in which we hold currency reserves. When you send a transfer with us, most of the time your money will go into our local account in your home country and stay there. We pay your recipient from our reserves in the destination country at the rate you locked in. That’s why your money arrives so quickly when you use us.

This GBL system has a number of benefits. It protects our business from currency exposure and lets us pass those savings onto you. It also means we can stay open during times of high currency volatility--unlike many of our competitors. We know that timing is critical when you need to move your money, this system allows us to process your transfer 24/7, 360 days a year--even when the banks are closed.

No retail outlets

Unlike the banks and other money transfer companies, our operations are only online and over the phone. We don’t have retail outlets and gilded offices downtown, so you don’t have to pay for them.

Genuine financial expertise

Becoming an expert at forex trading takes years of practice. At OFX, we employ finance gurus, so you don’t have to be one. Our Treasury team helps us prepare for volatile market swings, so we can offer you great rates whenever you need them.


We’ve built many automated processes for money transfers that let us operate with maximum efficiency. Your transfer is automated whenever possible, which reduces the risk of input errors, saves on staffing costs and expedites processing.

Did you know?

OFX handles the international money transfers for ING Direct and Macquarie Bank. We also transferred over AUD$19.6 billion in 2016. That high volume of transfers means we can still be profitable taking an average margin that’s 75% less than what the banks charge.*



*Average savings based on a sample of OFX Customer deals between 5 July and 9 August 2016 on an AUD$10,000 to USD single transfer against published rates of ANZ, Westpac, NAB and CBA for the same period. Fees and transaction costs excluded. Quoted savings are not indicative of future savings. Please consider OFX’s PDS and your circumstances before making a decision about any financial product.