The amounts above are calculated using the Market Interbank rate. Our flat rate transfer fee is now a thing of the past. Our customers can enjoy international money transfers with zero OFX transfer fees. No gimmicks, no catch. This fee may vary and OFX receives no portion of it. Our online currency converter is a quick and easy way to see live exchange rates at the click of a button. Exchange rates change all the time, and our live currency converter updates with it, making it the ideal tool to keep your eye on the value of any given currency.
The market rate is also known as the interbank rate. It is the exchange rate that banks borrow and lend to each other at. This is usually made in large amounts over short-loan periods.
These loans are made at a low interest rate reserved for financial institutions. This means that only banks and registered money lenders will receive global currencies at the market rate. The customer rate is made up of the market rate plus the given profit margin of a financial company. While the banks have some of the most inflated margins and transfer fees, at OFX, we keep our margins modest to offer the most competitive rates, which saves you money.
We accept wire transfers from your bank account or you can apply to set up an ACH direct debit. No cash, credit card, checks or bank drafts. Transfers to most countries take business days. Track your transfer online or with our mobile app. Our competitive customer rates are often more favorable than the rates offered by banks. With the ability to see changing market rates in an instant and make your overseas money transfers quickly and securely, you can trust us to meet your international money transfer needs.
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