Spot Transfer
The easiest and fastest way to transfer money
What is a Spot Transfer?
A Spot Transfer is a simple and quick way to exchange your currency when you need to move money globally right now. You’ll be provided the two currencies and the live exchange rate, also known as the Spot Rate. You agree to the rate and the exchange is made within seconds and you’ll have 48 hours to provide the funds necessary to complete the deal.
It can be used as part of a currency plan to help achieve your target rate and stay in budget, or in conjunction with other tools to help protect against currency risk.
The benefits of a Spot Transfer with OFX
- Competitive rates
We provide competitive rates plus no hidden fees. New to OFX? Take advantage of our competitive rates - 24/7 Service
Real human service and support when you need us - Global reach
Send money in 50+ currencies to 170+ countries - Expertise
Over the past 25+ years, more than 1 million clients have trusted us to move their money globally
Ready to make your first Spot Transfer?
Why clients use Spot Transfers every day
From supporting family and friends to paying for overseas education or buying property abroad, Spot Transfers are perfect for one-time transfers that are secure and cost-effective for life’s important moments.
Send money to friends and family overseas
Whether it’s a gift or a lifeline, send it straight to their bank accounts. They don’t even need an OFX account. Simple.
Keep more of your hard-earned savings or pension
Saving money is hard enough. Transferring it globally should be easy, secure and bring you peace of mind.
Big ticket purchases without the big FX margin
Big ticket purchases without the big FX margin
Take the pinch out of property purchases
Pay a deposit for a property overseas without being overcharged by your bank.
Selling international shares
When it’s time to cash out, skip the hassle of managing an overseas bank account and make every penny count.
Manage your savings across borders
Keep control, and keep more of, your hard-earned savings, no matter where you are.
New to OFX? Enjoy extra savings on your first personal FX transfer.
Your security is our priority
Our 25+ year business was built on secure global payments. We are authorised by the Financial Conduct Authority as an Electronic Money Institution (Firm Ref. No. 902028).
Spot Transfer FAQs
How do I send funds?
Depending on the currency you are sending and the region you are located in, our team of specialists will help you identify the best payment method for your transfer. Find out more about payment options in your OFX account under bank details, in our common international payment methods blog, or by contacting us.
How long do I have to send OFX my payment?
Please send OFX your money within 2 business days of booking your transfer so we can complete your transfer quickly. If you think it may take longer for the funds to clear, please contact us.
What is the maturity date?
You can see the maturity date in your online account, this is the date that we’ll move your money to your recipient’s account.
Can I cancel a Spot Transfer?
No. Booking a Spot Transfer is a legal commitment to complete the transaction, so it’s important to be 100% sure that you need to make the transfer before booking. Contact us for more information.
How long will it take for the funds to get to my recipient?
Once we’ve received your funds, most transfers to major currencies, like euros or US dollars, are made within 1 to 2 business days. But some currencies can take longer. The currency, your recipient’s bank, weekends or public holidays, and the country you are sending to may impact transfer time. You can track your transfers online, on our OFX Money Transfer App, or call us to speak to one of our OFX specialists.
Have a question? Need some help?
We provide 24/7 client service and support. Email us or call us anytime. We’re here to help.
