Frequently asked questions
If you’re a Canadian business client who joined OFX on or after 30 April 2025, you may be using our new online business platform. Please refer to the FAQs here.
If you’re an existing Canadian business and personal client who joined before 30 April 2025, please refer to the FAQs below.
Have a question? We’re on hand 24/7 to support you. Contact us anytime.
Your Recipients
Ways To Transfer
- Can I set up a recurring transfer with OFX?
- What’s the best way to send money online?
- What Is Peer-to-Peer Money Transfer?
- What is a wire transfer?
- What is a Forward Contract, and when is it used?
- What are my transfer options with OFX?
- How to Transfer Money from One Bank Account to Another
- How much does it cost to set up a Recurring Transfer?
- Is a deposit required for Regular Payments?
- Can I Lock In A Rate Before I Send You My Funds
Safety & Security
Registration
OFX Mobile App
OFX for Online Sellers
- Who can send money to my Global Currency Account?
- What currencies can I receive in my Global Currency Account?
- Which online marketplaces are compatible with the Global Currency account?
- Is there a minimum amount of time I must have an OFX account?
- How long does it take to open a Global Currency Account with OFX and receive my account details?
- How do I add my Global Currency Account details to my online marketplaces?
- How do I set up a Global Currency Account with OFX?
- As a business OFX account owner, how do I enter the bank details for my home account?
- Do I need to provide documents when I register?
- Can I use my Global Currency Account details with more than one marketplace?
Making A Transfer
- What is the minimum transfer amount?
- When do I need to enter my recipient details into my OFX account?
- When can I make a transfer?
- My Bank Has Daily Transfer Limits
- Why haven’t my funds arrived yet?
- What happens after I send my funds to OFX?
- Which Money Transfer Option Is Best For Me
- Can I transfer money to OFX by Debit Card?
- Can I Transfer Money From Another Country To The UK With OFX
- What should I do after I’ve locked in my transfer and sent my funds?
General & Other
- Can OFX help me watch the foreign exchange market?
- Will I be notified when my Global Currency Account receives funds?
- What’s my client reference number for?
- What is the Customer Rate?
- What is an NCC?
- What Is CHIPS: Clearing House Interbank Payments System?
- What Is IFSC?
- What’s BSC, BSB, or ABA when transferring money internationally?
- I’ve Forgotten My Username Or Password What Should I Do
- How to Find U.S. Account and Routing Numbers
Delivery Times & Tracking
Currencies & Fees
Other
- How does OFX determine the exchange rate I receive?
- What is a telegraphic transfer?
- How is a currency broker different from a bank?
- How long will it take for the funds to get to my recipient?
- What is the maturity date?
- Can I cancel a Spot Transfer?
- How long do I have to send OFX my payment?
- How do I send funds?
- Are my funds secure?
- Is there a minimum amount for a Forward Contract?
- Can everyone set up a Forward Contract?
- What if I no longer need the Forward Contract?
- Do I need to wait until my Forward Contract matures to use the currency?
- What is a credit limit?
- Why do I need to make an advance payment?
- Do I need to pay upfront when I book a Forward Contract?
- How is a Forward Contract rate calculated?
- Is a Forward Contract right for me?
- Can I cancel a Limit Order?
- What does it cost to set up a Limit Order?
- When are Limit Orders used?
- Are there any downsides?
- How much does it cost to set up Regular Payments?
- What happens if I want to cancel my Regular Payments?
- How can I send funds for my Regular Payment installments?
- I have multiple mobile numbers. Which mobile number will the verification code be sent to?
- How does 2-step verification work for businesses with multiple users?
- My mobile number has changed, how do I update it with OFX?
- What do I do if I don’t receive a verification code via SMS?
- How does multi-factor authentication work?
- What should I do if I am overseas and unable to receive the SMS verification code?
- Do I still need to remember any security questions associated with my OFX account?
- Can I turn off multi-factor authentication?
- What banking information does OFX need to make a transfer?
- Who is OFX
- How do I register to transfer money?
- How can I help protect myself from fraud and scams?
- Where can I make a transfer to?
- What recipient information do I need to give to OFX?
- Ive Noticed OFX Is Fully Regulated
- What should I do if my debit card payment results in an unknown error?
- What is the difference between a Forward Contract, a Limit Order, and an FX Option?
- What Is A Single Transfer
- What is an IBAN for transferring money internationally?
- How do I set up a recurring transfer?
- Do I need to send a receipt of my payment to OFX?
- Forex Contacts