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$1,000
Min. Transfer Amount
No limit
Max. Transfer Amount
1 day
Transfer Speed
Product Name | OFX International Money Transfers (Business) |
---|---|
Min. Transfer Amount | $1,000 |
Max. Transfer Amount | No limit |
Transfer Methods | Online, Phone, Bank Account to Bank Account |
Transfer Options | Regular payments, One off payments, Market orders, Forward contracts |
Transfer Speed Minimum transfer time | 1 day |
Customer Service | Phone, Email |
Available Currencies | AED, AUD, AZN, BGN, BHD, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VND, VUV, WST, XOF, XPF, ZAR |
Online Transfer Fee | $0 |
---|---|
Branch Transfer Fee | $0 |
Phone Transfer Fee | $0 |
Exchange Rate Updates | Real time |
OFX can help manage your international business payments and invoices without the need for your local bank. Set up a business account to pay suppliers, freelancers and employees at competitive rates and without fees.
Business clients can also save with forward contracts, scheduled payments and limit orders. A dedicated OFX service rep can help you navigate your options.
If you’re an online seller, you can also set up receiving accounts in six major currencies to get the most out of sales made all around the world.
Exchange rates and the transfer margin that OFX applies depends on your specific transfers and how often you need to make them, but rates typically beat those offered by your local bank.
OFX makes money by adding a small margin to the mid-market rates, but you’ll see the rate that applies to your transfer before you finalize the deal. If you like the rate you see, you’ll have the option of setting up a forward contract to lock it in for up to 12 months of predictable payments.
You’ll pay $0 in fees on your business payments. Instead, you’ll pay a small spread on the mid-market rate.
Online seller accounts, however, do come with a low conversion fee that tops out at 1.5% of your transaction when you’re ready to move your cash to a personal account.
Read our review of OFX for international money transfers
With OFX, you can easily lessen the blow of fluctuating exchange rates with several hedging options:
To get started, go to OFX’s Business site. The whole process takes about 20 minutes.
Once you’re approved, OFX will walk you through setting up your account to suit your business’s needs — get your seller account in order, save money on your first transfer and more.
Businesses and online sellers looking for low fees and options to simplify international business transactions should consider OFX a strong contender. It has features that can benefit anyone from those just looking for great rates to startup business owners who need customized advice from a transfer specialist.
There are a number of other similar sites and international money transfer companies vying for your attention, so compare them before making a decision.