How to transfer money to a foreign bank account?

To transfer money to a foreign bank account:

  1. Create an OFX account to save money on high bank margins and fees
  2. Log in to check exchange rates and get a live quote for your money transfer.
  3. Collect your banking details and those of your receiver.
  4. Select ‘finalise transaction’ and use the OFX mobile app to track your transfer.
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.
currency transfer

An Option That’s Better Than Bank Transfers

Often people choose to use their bank for international money transfers, because it seems convenient. Unfortunately, banks typically charge a margin of up to 5% above the daily exchange rate, and they also often add a hefty transfer fee as well. If you’re too smart to pay such high amounts to move your money to a foreign bank account, switch to OFX instead.

 

  • At OFX, you’ll get a quote based on the live exchange rate of the moment our margin is up to 75% less than what the banks charge.

  • OFX charges no fees on your money transfer.

  • It’s free to register and keep an account with OFX.

  • Our global network of local bank accounts means your money often arrives faster.

 

 

In addition to providing a more affordable way to transfer your money internationally, OFX also gives you access to tools, such as Limit Orders and Forward Contracts, which can protect you against currency fluctuations. Keep more control over your money with OFX.


currency transfer

A Straightforward Form for Simpler International Transfers

Moving money internationally can be confusing because there are so many different names for all of the banking codes used throughout the world. That’s why our online form is designed to be easy to use. It will guide you through the entire process so you’ll know exactly what information you need to provide to ensure your transfer goes through smoothly.

 

Rather than using international code names, our form uses local code names. Whether you need to submit SWIFT and IBAN codes or NCC and BSC numbers, we’ll walk you through it all. And if you do run into questions at any point, you can simply call our customer service team for assistance 24/7.

currency transfer

Move Money in a Few Easy Steps

Once your OFX account is active and you have set up your transfer, send your funds to us from your bank account. Then we will take care of converting the currency and sending the money to the foreign account. This process usually takes anywhere from 1-5 business days, depending upon your destination.

 

So whether you need to send money abroad for business or personal reasons, use OFX to save money and move your funds securely and efficiently.  



You might also like:

loan

Paying Off a Loan Abroad Guide

Reading Time: 4 mins

Pension

Investments Abroad Guide

Reading Time: 5 mins

wedding location

Getting Married Abroad Guide

Reading Time: 7 mins