Spot Transfers for global businesses
Great rates. Zero wait. OFX spot money transfers.
Making FX transfers through the banks is clunky, slow and expensive. The OFX secret is our global payment network. We’ve been building it for decades. So you get more than just an automated payment system. You get a system that automatically gives you amazing rates in 30+ currencies. Super fast. Super secure.
What is a Spot Transfer? And why use one?
A Spot Transfer is an instant exchange. One you make “on the spot”. OFX will show you the two currencies and a highly competitive rate, updated constantly in real-time. Great for paying international suppliers or employees.
When you need to make international payments right now, this is how you do it. The moment you agree to the rate, the transfer is made.
Use spot money transfers 4 ways.
Fast, efficient, flexible. Spot Transfers are essential for international business.
Protect your profits.
Don’t let currency fluctuations hit your profits. Book a Spot Transfer with great rates for your FX needs, just like that.
Pay overseas staff.
Run a global team? Pay your remote employees on time, no matter where they are.
Spot Transfers, powered by your Global Business Account.
That’s right, a single Global Business Account to manage all your currencies and international payments.
One login. One screen. Just like that.
Enjoy fast, secure payments to 170+ countries with great rates in 30+ currencies.
Quickly cover your costs. Instantly top up between currency accounts with a Spot Transfer.
Eliminate busywork. Group multiple payments and send them all with a single click.
Skip mysterious fees. We’re fully transparent.
We guarantee our rates for 48 hours. Lock it in now and carry on.
Automatic email notifications are sent to your payee the moment you pay.
Lock in a rate. Get started for free today.
We’ve been helping businesses like yours for over 25 years.
Our innovative platform is built on decades of payment experience. We have offices and specialists around the globe. Any time you need technical support or have a question, we’re here, 24/7, with real-human support.
Best-in-class global security.
Our entire business is built on secure global payments. With specialists in offices around the world. Officially registered member of the Financial Crimes Enforcement Network (FinCEN) and ISO 27001 certified.
Stay a step ahead, with our FREE monthly FX report.
Don’t let currency fluctuations catch you off guard. Get our FREE monthly currency outlook, prepared by our team of global currency specialists. Includes our time-saving FX rate cheat sheet.
Get better rates in 30+ currencies on global Spot Transfers.
Need technical support? Have a question?
We provide 24/7 support whenever you need us. Email us or call us anytime and a real person will be here to help.
Spot Transfers for global businesses FAQs
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 will see the two currencies and the live exchange rate, also known as the Spot Rate. You agree to the rate, book the transfer and the exchange is made within seconds. You’ll have 48 hours to provide the funds necessary to complete the transaction.
A Spot Transfer can be used as part of a currency plan to help stay in budget, or in conjunction with other tools, like Forward Contracts*, to help protect against currency risk.
*NZForex issues derivatives to wholesale clients only. Retail clients are not permitted or eligible to enter into any forward contract.
When can a business use a global Spot Transfer?
Spot Transfers can be useful when you need to send money quickly for a business need or take advantage of an exchange rate.
What types of business payments can I use a global Spot Transfer for?
Spot Transfers can help you manage business payments with confidence and precision. You can use it for supplier invoices, overseas bills, payroll, contractor payments, bills, rent, equipment purchases, and other international expenses.
How can I make a Spot Transfer?
It’s easy to make a Spot Transfer with OFX. Create a Global Business Account for free. Once your account and identity has been verified, simply log in and locate the ‘Get a Quote’ widget. Select ‘Convert & Hold’ to retrieve a quote for a transfer. Then select ‘Spot’ as your Order type and enter the relevant details, such as the amount you wish to pay, the currencies involved, and pay date.
How many currencies can I access with Spot Transfers?
With a OFX Global Business Account, you can make as many Spot Transfers as you need. Send money in 30+ currencies, giving your business flexibility to pay suppliers, vendors, bills and employees across the globe.
How is a Spot Transfer different from a Forward Contract?
At OFX, our Spot Transfer locks in today’s exchange rate for settlement within two business days. Forward Contracts* on the other hand, allows you to lock in a rate for a future date for up to 12 months.
*NZForex issues derivatives to wholesale clients only. Retail clients are not permitted or eligible to enter into any forward contract.
Can I track the progress of my Spot Transfer?
Yes, you can track real-time updates on the status of your Spot Transfer through your OFX Global Business 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. If you do cancel, a loss may be incurred by OFX and you will be liable to pay the loss owing. Contact us for more information.