How does OFX determine the exchange rate I receive?

OFX determines exchange rates based on a few factors including the current Market Rate, the amount you wish to transfer, how frequently you make transfers, and the currency you’re sending .

Our Customer Rate is the rate that our clients transfer at. This is based on  the current Market Rate plus a margin to facilitate the transfer. To see your Customer Rate, log in to your OFX account or speak with an OFXpert. If you don’t have an OFX account yet, register now.

The Market Rate, also known as the “interbank rate” or the “mid-market rate,” is the exchange rate used by large financial institutions as a global benchmark for the current value of currency.