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Online Business Bank Account
When your e-commerce store expands into the overseas market, you can start profiting from shopping trends in other parts of the world.
Online Payment Solution
Choose an online payment solution that can adapt with your changing business needs by offering a customisable suite of different payment methods.
Online Retail Business
Here's the skinny on how OFX can help you boost your bottom line.
Selling on eBay
If selling on eBay sounds like something that you want to do to get your feet wet in the world of e-commerce, a little preparation goes a long way.
How to Start Selling Online
To get yourself off to the best start, we’ve pulled together some tips from the pros. You may be surprised by how easy it can be.
How to Sell Internationally on Etsy
Have you been thinking about using Etsy to start an online business? Check out these tips on how to sell internationally to expand your reach.
Online Seller FAQs
Creating an account can be done in 3 simple steps:
- Register: click ‘Register’ in the top right corner and fill in your details. There are no setup fees or monthly account fees.
- We’ll call you: After you have registered for an account, we will call you to complete the registration. We will ask you some basic questions including which currencies you want your receiving account to accept.
- Verification & Receiving Account Opening: To verify your account, we will request some documentation. During the call, we will tell you which documents we require and direct you to our Secure Site to send them directly to the relevant team.
Please note, OFX accounts are normally approved within 4 business days. Following this, your receiving account details should be delivered within 2 business days.
Our receiving accounts accept payments from some of the world’s largest online marketplaces like Amazon, eBay, PriceMinister.com, Newegg, Buy.com, Game, Wish.com, CDiscount.com, Rue du Commerce and Shop.com.
If your marketplace is not listed here, ask your OFX account representative or contact us at firstname.lastname@example.org. We are always adding to our list of approved marketplaces.
At OFX, we don’t charge setup fees or monthly account fees. When you make a transfer with us, we take a small percentage to cover our cost, but this is usually about 75% less than what an online marketplace would charge for cross-border payments.* With us, there are no outgoing fees in transferring the funds to your home bank account, whereas other providers may charge a fee. Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient bank account. This fee may vary and OFX receives no portion of it.
*Average savings based on a sample of published transaction fees for cross border payments provided by Amazon and PayPal dated 8.24.16. Quoted savings are not indicative of future savings.
Once you have received your receiving account details by email, upload or send these details to the marketplace. Once you have done this, you can transfer:
- Initiate payment: From your marketplace account, send the money to your new OFX receiving account. Delivery times may differ by marketplace and the foreign currency you are sending. Amazon sellers will usually find it takes 2-4 business days for the funds to appear in the receiving account.
- Once you have initiated payment of the foreign currency from your marketplace account to your OFX receiving account, log into your OFX account online and book the transfer with us.
- As soon as the funds appear in your receiving account, you will be notified by email. They foreign currency will then be automatically forwarded to your designated home bank account.
If you want greater flexibility over when the foreign currency is sent from your receiving account to your domestic account, please let us known during the set up process or afterwards. You can contact us 24/7.