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Do I need to pay a deposit for a recurring transfer?
For recurring transfers, or fixed payment plans, an advance payment (deposit) is necessary to cover any market risk exposure we may face. No deposit is necessary for non-fixed payment plans.
The deposit is the equivalent of one instalment and you’ll need to transfer it together with your first instalment. Please note that the deposit is not a fee and we’ll use it to pay off the last instalment of your recurring transfer plan.
More Making A Transfer FAQs
- How do I add a new recipient?
- How do I make a business transfer with OFX?
- How do I make a personal transfer with OFX?
- Can I get a currency exchange quote?
- Can I transfer money to OFX via cash or cheque?
- Do you have a minimum transfer amount?
- How do I make a transfer?
- How do I make a transfer with OFX without a rate?
- How do I transfer my funds to OFX?
- What is the maximum amount you can transfer?
- What is the minimum transfer amount?
- What should I do after I’ve locked-in my transfer and sent my funds to OFX?
- When can I make a transfer?
