You can receive funds from approved online marketplaces, payment gateways and directly from your clients. Find more information about your Global Currency Account see here or contact an OFXpert.
You can receive USD, EUR, GBP, CAD, AUD, SGD, and HKD in your Global Currency Account. Find more information about the Global Currency Account here or contact an OFXpert.
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.
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:
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.
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.
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.
There is no minimum amount of time you need to hold an OFX account. If you’d like to close your OFX account please contact an OFXpert.
OFX reserves the right to close inactive accounts. If an account is closed due to inactivity, the owner will be alerted via email.
OFX business accounts, which contain the Global Currency Account, are usually approved within 4 business days. Your Global Currency Account details are usually delivered within 2 business days. Find more information about your Global Currency Account here or contact an OFXpert.
Once you have registered for an OFX account, an OFXpert will call you to assist with uploading the Global Currency Account details to your marketplace. Or you can watch this handy OFXpert video guide.
Creating an account can be done in 3 simple steps:
Please note: OFX accounts are normally approved within 4 business days. Following this, your Global Currency Account details should be provided to you within 2 business days.
To add your home account details, log into your OFX account, click on “Recipients” and select “Add New Recipients”. At this point, you will be able to add the details for your domestic bank account. The account that the funds are delivered to must be in your name. Watch our short OFXpert guide for a step-by-step video on adding recipients.
Yes, 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 can either be uploaded to our secure online platform or emailed directly to us. For more information feel free to contact an OFXpert.
Yes. You can use your Global Currency Account with multiple of OFX’s approved marketplaces. Each marketplace must deliver the currency that your local currency account was initially set up to receive. Find more information about the Global Currency Account here or contact an OFXpert.
Yes, you can pay your vendors, suppliers or taxes in multiple currencies. Watch our short OFXpert video guide for instructions on how to make local and international payments from your Global Currency Account. Find more information about the Global Currency Account here or contact an OFXpert.
Yes. If you require a certificate to verify your Global Currency Account details, please contact contact an OFXpert.
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.
OFX offers local currency accounts in USD, EUR, GBP, CAD, AUD, SGD, and HKD for your Global Currency Account. Find more information about the Global Currency Account here or contact an OFXpert.