Making A Transfer

Absolutely! We can transfer funds from several countries to Australia.

There are a few exceptions as we can’t accept transfers from some countries, but if you have any doubts please contact one of our helpful OFX transfer experts.

Please note we currently are unable to make transfers to the following countries: Afghanistan, Belarus, Burma, Democratic Republic of Congo, Republic of Congo, Cote d'Ivoire, Cuba, Iran, Iraq, North Korea, Lebanon, Liberia, Libya, Rwanda, Sierra Leone, Somalia, Sudan, Syria and Zimbabwe.

The market rate, also known as the “interbank rate” or the “mid-market rate,” is used primarily by consumers for informational purposes or as a benchmark. It is essentially a ‘wholesale’ rate that is available only to large financial institutions or those who purchase large volumes of currency. Generally, consumers wishing to exchange currency will not be offered the market rate, but instead will be provided with a ‘retail’ rate. Similar to the sale of goods and services, the retail rate typically is the market rate plus a mark-up added by the provider. 

If you book a transfer with OFX, your exchange rate will not be equal to the current market rate. We do, however, encourage our customers to check market rates when considering a currency exchange transfer. Understanding the current market rate will help you determine if you are receiving a competitive rate. View the live market rates to see what rate we can offer you on a currency exchange transfer with OFX, please log in to your OFX account. If you do not have an OFX account, register now.

Your routing number is a 9-digit code that will be used to identify where your bank account was opened. It may also be known as an RTN, an ABA routing number, or a routing transit number. As you prepare to send money internationally, one of the numbers that you’ll want to have on hand is your routing number.

Where to Find Your Routing Number

You can find your routing number at the bottom of your checks, as it will be the set of numbers on the left side of your account number. If you have online banking, you can easily find your routing number information on your account’s page.

 

Because routing numbers don’t need to be kept confidential, a lot of banks will even have them posted on their websites. This makes it a snap to access the routing number you need for wiring money with a simple Google search.

When a Routing Number Is Used

There are several situations in which you’ll be asked for your routing number. For example, if you’re making a payment by phone or online, or if you’re making automatic bill payments, you’ll need to provide your account number and routing number.

 

Also, if you’re processing checks or transferring money internationally, you’ll be asked to provide your routing number, so the banks will know precisely where the money needs to go.

 

Your bank will be able to tell you which routing number to use for the task that you’re hoping to accomplish. Routing numbers on checks might be different from the routing numbers required for performing wire transfers, so it’s a good idea to look them up online in order to avoid processing delays.

To make an international bank transfer:

1. Collect your banking details and those of your recipient.

2. Create an account with OFX

3. Log in to our secure platform or contact us 24/7 for support.

4. Finalise your transfer and track it with the OFX mobile app.

 

Send money internationally and keep more of your cash

 

Banks charge hefty margins on the exchange rate in addition to large fees for sending money overseas. OFX lets you keep more control of your money while saving you a bundle.

 

1. Fill out the simple transfer form to let us know how much you need to send, and what currency you need us to convert your money into.

2. We’ll guide you through all of the banking details that you need to provide, such as your recipient’s name, account number, and SWIFT or BSC code, depending upon your recipient’s location.

3. OFX accepts transfers from your bank account.

4. Most transfers to major destinations will usually be completed within 1-2 business days, and you can track it with our handy mobile app.

Choose your preferred transfer method

After you create your account with OFX, you can choose to make a single transfer, or you could set up recurring transfers, so your international payments always arrive on time.

You also have the option of setting up a Forward Contract so you can lock in a great exchange rate for up to 12 months, even if you aren’t ready to transfer your money today. Or you could set up a Limit Order to be notified once your preferred exchange rate has been triggered, so you don’t miss out.  

 

Making an international bank transfer is easier and cheaper with OFX. Get the savings and service you deserve.

After you’ve registered and we’ve verified your identity, you can begin transferring online.

If this is your first transfer, one of our team members will call you to confirm your transfer. Our global team is on hand if you ever need help making a transfer, otherwise you can complete your own transfers online.

We'll also send you an email and/or SMS to keep you updated on the status of your transfer, or you can track your transfer via our mobile app.

In order for us to complete your transfer, you will need to make a payment to us first. But it’s easy, and all online.

Simply login to your everyday bank account and make a domestic transfer to ours, with your Client Reference number and we’ll complete your transfer. (The Client Reference number is in the e-mail confirmation you get after locking in a transfer).

Most of our customers transfer their funds to us via an Electronic Funds Transfer (which is offered by most banks worldwide).

In Australia the majority of our customers BPAY their funds to us.

If you’re a corporate customer, we can arrange to debit funds directly from your designated account to make the process even easier.

A full list of payment options is sent via e-mail after you’ve locked-in your transfer.

Please note, we don’t accept or send cash or cheques for transfers.

Adding details for a foreign bank account can be confusing at first. Follow our simple guide below. 

1. Login to your OFX account
2. Select the “Recipient” tab, then “New Recipient” or “create a new recipient” on the home page.
3. Choose if you are sending to your own account or someone else’s.
4. Next you need to tell us what country and currency you need to send. This will determine what type of bank information is required
5. Enter the name on the account. Avoid using initials where possible.
6. The next section will ask for the bank account details. Depending where the account is held this can have many names. If in doubt we suggest you go back to the account holder with the titles on the text field OFX has provided and ask for the information.
7. The next section is for the bank details. Most time this will be automatically filled for you from the previous information you entered.
8. Lastly, if you are sending to someone else’s bank account, we will need their address. You can also add their email address if you would like them to receive an email advising when payment has been made to their account. 

Remember if you need further assistance we’re here 24/7. Contact us 

Yes. We’ve recently lowered our minimum transfer amount to AUD 250.00, giving you even more flexibility when it comes to making global transfers.