How to save on making an international money transfer with OFX

OFX is a great alternative to the banks when making an international money transfer because, as a specialist foreign exchange service, we understand that you want a seamless, cost-effective solution. Need proof? We send money to 190 countries in over 55 currencies and we’ve transferred over $21 billion worldwide.

We understand that steering away from your bank to make an international money transfer can be daunting. Especially if you’re transferring for an important cause, like starting a business, or building your new home. So we’ve broken down how to make your transfer in 3 easy steps. 

Alternatively, see our Ways to Transfer for a range of options, including buy now, transfer later, setting a target rate and setting up regular transfers.

making a money transfer is easy online

Step 1: Create an Account

  • When you visit the OFX homepage, our Currency Converter gives you the most recent exchange rates for a currency pair. For example, you can see how much US$10,000 would translate to in Euros.
  • If could also be of use to check out how your desired currency has been performing lately with our Live Market Rates
  • Click ‘Register’ at the top of the website and enter a few details to get your account set up. This should only take a few minutes.
  • Once we check your details you’ll receive an email confirming your account.

We understand that steering away from your bank to make an international money transfer can be daunting. With OFX, we give you peace of mind.

OFX has 24/7 customer service

Step 2: Booking your first transfer

  • Shortly after you register with us, you’ll receive a call from one of our friendly payments experts. The team are available 24/7 and are always happy to take your call if you have any questions.
  • During the call we’ll use the information you gave us to verify your identity and get an understanding of your money transfer needs. We’ll also let you know if any additional information is needed. If not, we’ll confirm your account is active and ready for you to make your first transfer.
  • Next, sign into your account and get a quote for the currency you wish to send. Input the recipient’s details and then confirm your transfer.
transferring with OFX is easy

Step 3: Sending the money

  • You’ll receive a final email from us to confirm your transfer along with a full list of payment options. You need to send us the funds from your account so that we can make the transfer. This email will include a Customer Reference number and our bank account details for you to send the money to.
  • Now, log into your online banking account and make a domestic transfer to our account. We use our Global By Local (GBL) network to make domestic transfers and help you save on exchange rate margins.
  • Once you’ve transferred the funds, we’ll take it from there. We’ll let you know when the funds have been deposited into the recipient’s account. 
  • Congratulations! You’ve just completed your first transfer with OFX. Quick, simple and seamless.

We’ve also recently launched our new app for iOS and Android devices, which means we can now help you with your transfer needs on the go. Get live exchange rates, transfer and track your money wherever you are. 

Still have questions? Visit our FAQ page for more information about making an international money transfer.

IMPORTANT: The contents of this blog do not constitute financial advice and are provided for general information purposes only without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex Limited (trading as OFX) and its affiliated entities make no recommendation as to the merits of any financial strategy or product referred to in the blog. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this blog.