Transferring money with OFX is simple
Refer to our step-by-step guide below to see just how easy making a global money transfer with OFX can be!
Step 1 – Link your bank account
The first step to getting your OFX transfers moving is to securely link your bank account. To do so, log in, go to the 'Your Profile' tab and select 'Link Bank Account'.
Linking your bank account ensures all of your OFX transfers are funded with no delay, plus you'll avoid those costly bank wire fees.
Step 2 – Enter your recipient details
Now your bank account has been linked, it’s time to add your recipient details. Move to the 'Recipients' tab and select ‘Add New Recipient’. Once you've entered and reviewed the details, click 'Save' to add the recipient to the system.
If you have any problems entering the foreign bank account details, feel free to get in touch. We're familiar with literally hundreds of account types so we can certainly help.
Step 3 – Get a quote
Visit the ‘New Quote’ tab to get access to our bank-beating exchange rates.
You'll need to tell us which currency you have (sell currency) and also the currency you want to transfer to (buy currency), plus the amount you wish to transfer.
Click the 'Get Quote’ button and you'll see the exact amount of foreign currency the recipient account will receive*. If you're happy with the displayed exchanged rate, select 'Continue' to lock in your transfer at that rate. We'll confirm a few final details on the next screen.
*Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient. This fee may vary and OFX receives no portion of it.
Step 4 – Finalise your transfer
For the final step you’ll need to select the number of recipients plus the recipient account(s) you'd like us to pay into. You may wish to enter a 'Reference', which will be visible on the recipient's bank account statement, and we ask for the reason behind your transfer, so we can better serve you in the future.
Choose 'Finalize Transfer' and we'll be in touch via email or SMS to let you know the status of your funds. Or you can track your funds using our mobile app.
If this is your first deal, you're sending funds to a new recipient or if you are sending more than $100,000 one of our dealers will give you a call within 15 minutes of you booking the transfer, so please make sure your contact details are up-to-date and correct and your phone is nearby.
Need some help?
If you get stuck at any point of the transfer process, or you'd simply like someone to hold your hand as you transfer for the first time, feel free to visit our Contact Us page and get in touch. Don't forget, we're available 24/7.