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OFX for Online Sellers

Which currencies can the receiving accounts receive?

We currently offer local accounts in US dollar, Great British pound, Euro, Canadian dollar and Hong Kong dollar.

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Which online marketplaces are compatible with the receiving accounts?

Our receiving accounts accept payments from some of the world’s largest online marketplaces like Amazon, eBay, PriceMinister.com, Newegg, Buy.com, Game, Wish.com, CDiscount.com, Rue du Commerce and Shop.com.


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What is the transfer process and how long will it take?

Once you have received your receiving account details by email, upload or send these details to the marketplace. Once you have done this, you can transfer:

  1. Initiate payment: From your marketplace account, send the money to your new OFX receiving account. Delivery times may differ by marketplace and the foreign currency you are sending. Amazon sellers will usually find it takes 2-4 business days for the funds to appear in the receiving account.
  2. Once you have initiated payment of the foreign currency from your marketplace account to your OFX receiving account, log into your OFX account online and book the transfer with us.
  3. As soon as the funds appear in your receiving account, you will be notified by email. They foreign currency will then be automatically forwarded to your designated home bank account.

If you want greater flexibility over when the foreign currency is sent from your receiving account to your domestic account, please let us known during the set up process or afterwards. You can contact us 24/7.


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Is there a minimum amount of time I must have an OFX account for?

There is no minimum amount of time you need to hold an OFX account for. If you no longer wish to use your OFX account, please email us at customer.service@ofx.com, with your account details.

We reserve the right to close accounts which are inactive. If this does happen, we will contact you by email.


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How long does it take to open an account with OFX and receive my receiving account details?

OFX accounts are normally approved within 4 business days and your receiving account details are then normally delivered within 2 business days.

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How do I upload my receiving account details to my online marketplaces?

Once you have registered for an OFX account, we will call you and guide you in uploading the receiving account details to the marketplace.

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How do I setup a Global Currency Account with OFX?

Creating an account can be done in 3 simple steps:

  1. Register: click ‘Register’ in the top right corner and fill in your details. There are no setup fees or monthly account fees.
  2. We’ll call you: After you have registered for an account, we will call you to complete the registration. We will ask you some basic questions including which currencies you want your local account to accept.
  3. Verification & Global Currency Account Opening: To verify your account, we will request some documentation. During the call, we will tell you which documents we require and direct you to our Secure Site to send them directly to the relevant team.

Please note, OFX accounts are normally approved within 4 business days. Following this, your local currency account details should be delivered within 2 business days.


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How do I enter the bank details for my home account on the OFX website?

After logging into your OFX Account, click on “Recipients” and select “Add New Recipients”. From here you can add the details for your domestic bank account. The account that the funds are delivered to must be in your name. 


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Do the documents need to be notarised or certified?

No. OFX does not require verification documents to be notarised or certified.

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Do I need to provide documents when I register?

The type of verification documents we require will depend on where your business is registered. When we call you, we will let you know which documents are required. Documents must be in English and can either be uploaded to our Secure Site or emailed directly to us.

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Can I view a history of my transfers?

Yes, you can view your receiving account history at any time. Once you are logged in, select Deal & Orders, then select the Transfers tab, where you can find your account history.

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Can I use my receiving account details with more than one marketplace?

Yes. You can use your receiving account with multiple marketplaces that have been authorised by us. Each marketplace must deliver the currency that your receiving account was initially set up to receive.

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Can I make payments out of my receiving account directly to my suppliers?

Yes! You can pay your vendors, suppliers, or taxes in multiple currencies at your preferred rate before bringing your profits home.


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Can I obtain a certificate to verify my receiving account details?

Yes. If you require a certificate to verify your receiving account details, please contact us. We’re available 24/7.

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Are there any account or transfer fees?

At OFX, we don’t charge setup fees or monthly account fees. When you make a transfer with us, we take a small percentage to cover our cost, but this is usually less than what an online marketplace would charge for cross-border payments. With us, there are no outgoing fees in transferring the funds to your home bank account, whereas other providers may charge a fee. Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient bank account. This fee may vary and OFX receives no portion of it.

 


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