OFX Fee Schedule
This Fee Schedule applies to Clients who have agreed to the OFX Subscription Agreement (Business) and conduct, access or use a Subscription Plan and/or Services.
You and your means you, the primary, authorised OFX Client that applies for and is approved for an OFX Business Account. When you add an additional User, it will also include and apply to them.
We, us, our and OFX refers to UKForex Limited doing business as OFX (“OFX”)
This Fee Schedule includes this document, together with the OFX agreements that apply to the OFX products and Services (“OFX agreements”), including but not limited to the:
- OFX Subscription Agreement (Business);
- OFX General Terms and Conditions (Business);
- OFX Card Agreement (Business) which governs your OFX Card;
- Privacy Policy; and
- Where you add an Advisor, the Advisor Terms and Conditions.
You should read this Fee Schedule together with all OFX agreements that apply to you. The OFX agreements can be found at www.ofx.com/legal
Terms that are not defined in this Fee Schedule can be found in the applicable OFX agreement. You will need to agree to this Fee Schedule to use a Subscription Plan, an OFX Business Account and Services.
1. About the Fees
All references to £ are referring to Pounds Sterling.
Where taxes apply to the Services:
- You are solely responsible for determining, collecting, withholding, reporting, and remitting applicable taxes, duties, fees, surcharges and additional charges that arise from or because of your use of the Services under a Subscription Plan.
- If you are not charged taxes by us, you are responsible for determining if taxes are payable, and if so, remitting taxes to your appropriate tax authority.
- All Fees listed in this Fee Schedule are exclusive of applicable federal, provincial or other governmental sales, goods and services, harmonized or other taxes, fees or charges or any other taxes now in force or enacted in the future.
- Where we apply taxes, tax rates are calculated based on the information you provide on registration and the applicable rate at the time of your Billing Cycle charge.
- If you are exempt from paying taxes, you need to provide us with evidence of this exemption.
2. Fees
| Product Feature | Fee or number included in Subscription Plan |
| Standard | Full-Suite | Custom | |
|---|---|---|---|
| Monthly subscription fee | £0 | £125 | Custom |
| Cost per Authorised User | First two users are £0; £15.00 per user per month thereafter | Minimum of five users of £25 per user per month, representing the monthly subscription fee; £20.00 per user per month thereafter | Custom |
| Cost per user with view-only or approver-only rights | £0.00 | £0.00 | £0.00 |
| Pay Out |
| Domestic payment fee GBP (CHAPS) | £5.00 | £5.00 | custom |
| Cross-border SWIFT fees (per transaction) | £5.00 | £5.00 | custom |
| Domestic payments (in UK) in GBP using FPS | 50 free transactions per month; £0.20 per transaction thereafter | 150 free transactions per month; £0.20 per transaction thereafter | custom |
| Pay In (Receive) |
| Receive funds into the OFX Global Business Account using FPS and SEPA | £0.00 | £0.00 | custom |
| Receive funds into the OFX Global Business Account using SWIFT | £0.00 | £0.00 | custom |
| Receive funds into the OFX Global Business Account by third party domestic credit card (Visa, Mastercard, or any other credit card we may allow from time to time) | 2.90% | 2.90% | custom |
| Receive funds into the OFX Global Business Account by third party foreign credit card (Visa, Mastercard, or any other credit card we may allow from time to time) | 3.40% | 3.40% | custom |
| OFX Cards |
| Digital Cards (Apple Pay, Google Pay) | £0.00 | £0.00 | £0.00 |
| Physical Cards – first issuance | £0.00 | £0.00 | £0.00 |
| Physical Cards – replacement | £10.00 | £10.00 | custom |
| Foreign Transaction Fee on Card purchases | £0.00 | £0.00 | £0.00 |
| FX Solutions |
| Currency Conversion OFX Margin | The Margin will be included in the exchange rate quoted to you at the time of the Payment. | The Margin will be included in the exchange rate quoted to you at the time of the Payment. | The Margin will be included in the exchange rate quoted to you at the time of the Payment. |
| Automatic Conversion OFX Margin | 1.50% | 1.50% | custom |
3. General
3.1 Contact Us: you can contact us by email at: business@ofx.com
3.2 Governing Law: This Fee Schedule shall be interpreted in accordance with the laws of England and Wales. You and we both agree that the English courts will have exclusive jurisdiction, except for an action for injunctive relief, which may be brought in any appropriate jurisdiction. However, if you are a resident of Northern Ireland you may also bring proceedings in Northern Ireland, and if you are resident of Scotland, you may also bring proceedings in Scotland.
3.3 No waiver: If we fail or delay objecting or act when you breach any section of this Fee Schedule, all sections of this Fee Schedule remain valid and unchanged. We also reserve our right to act on that breach or any similar breach later. Any action or omission by us does not mean that we have waived or changed this Fee Schedule.
3.4 Changes: We may add, change, replace or remove a feature or detail set out in Schedule 1 of the Subscription Agreement (Business) or a Fee in this Fee Schedule. We will notify you when we make a material change or when we are required to do so by law. The notice of change may be given in an email, using the OFX Business platform, or posting the notice of change to our Website. You will have accepted the change if, after the change is effective: you use, or access, or activate your OFX Business Account, you conduct, access or use any Services, and/or your OFX Business Account remains open.