Send money overseas with the World's largest non-bank provider of foreign payments
If you're sending money overseas, the last thing you want to worry about is it not reaching its destination. Over 30 years of experience means your overseas transfers are safe with AFEX. With more than 24,000 commercial clients and thousands more private customers, AFEX will help you to find the best way to send money overseas for a range of reasons, whether that's buying a property or sending a financial gift to family.
IWhat's more, you can reduce the time spent making international transfers with AFEXDirect, an online payment platform that makes it simple to send money around the globe and completely automate your transactions. In addition, AFEX offers a range of flexible features to help make it easier and more affordable to perform an international money transfer, including spot transactions and forward contracts.
|Product Name||AFEX International Money Transfers|
|Min. Transfer Amount||AUD 500|
|Max. Transfer Amount||No limit|
|Transfer Methods||Online, Phone|
|Customer Service||Phone, Email|
|Available Currencies||AED, ARS, AUD, BDT, BGN, BHD, BOB, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DJF, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GHS, GTQ, HKD, HRK, HUF, IDR, ILS, INR, JOD, JPY, KES, KRW, KWD, LTL, MAD, MUR, MWK, MXN, MYR, MZN, NGN, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TWD, TZS, UAH, UGX, USD, XCD, XOF, XPF, ZAR, ZMW|
|Online Transfer Fee||AUD 0|
- World's largest non-bank provider of foreign payments
- Competitive exchange rate
- Offer spot transactions and forward contracts
- Cash pickup not available
- Information on fees are not freely available on the AFEX website
Find a competitive rate with AFEX to get more value when sending money overseas
AFEXDirect is an online platform designed to make it as simple as possible to manage your global payments. It also aims to offer better exchange rates on international money transfers than you would be able to get from your bank, ensuring that more of the money you send makes it to your recipient. These rates are updated multiple times throughout the day to ensure that they keep pace with global markets.
Unfortunately, to get a better idea of the difference between AFEX’s exchange rates and those offered by your bank, you’ll need to sign up for an AFEXDirect account.
AFEX publishes live FX rates displayed below.
Rates accurate up to 12 March 2015.Back to top
Get more out of your transfers with low transfer fees
The fees you will be charged for sending money overseas with AFEXDirect depend on a number of factors. While it is free to set up an account and there are no fees to use AFEXDirect, you will be charged fees when you perform international money transfers.
However, the exact fee you will pay depends on the destination you are transferring funds to and the speed with which you would like your payment to be processed - the fees that apply for different destinations and transfer speeds are not freely available on the AFEX website.
Trade even the most exotic currencies
AFEX provides its customers with access to a wide range of foreign currencies. AFEXDirect users can transfer funds in all the major currencies - the US Dollar, the Euro, the Great British Pound, the Japanese Yen, the Australian Dollar, the Canadian Dollar, the Swiss Franc and more - as well as a large number of more exotic currencies in the table below.
|AUD||Australia||GTQ||Guatemala||PGK||Papua New Guinea|
|FJD||Fiji||NZD||New Zealand||ZAR||South Africa|
Make a quick transfer today or lock in a competitive rate in advance for a future transfer
AFEXDirect allows you to access your foreign currency balances 24/7. This easy-to-use payment system allows users to lodge a spot transaction to send funds overseas immediately. If you would like to lock in a good exchange rate for a transfer which will take place at a later date, AFEX also offers forward contracts to allow you to do so. This option protects you against fluctuations in the currency market but doesn’t require you to use lots of your hard-earned money now to buy foreign currency in advance.
It is easy to use and also offers a host of useful forex resources to help users keep abreast of foreign currency markets and trends. Customers can also easily view a history of all their foreign exchange payments, track the status of payments and enjoy customer assistance from AFEX’s Private Client Team.Back to top
Register with AFEX for free
It’s completely free to sign up for an account with AFEXDirect. You can apply for an account online or by getting in touch with an AFEX Account Executive. There's no obligation to trade once you have opened an account, and once you’ve supplied your name, email address and phone number you can begin a secure application. You’ll need to provide your driver’s licence, Medicare and passport numbers, as well as answer a series of questions about the type and amount of transfers you plan on lodging via AFEXDirect.
Once your account has been opened, you can transfer funds to AFEX from your nominated bank account or by cheque. Once your account with the online payment system is live and you have asked AFEX to exchange your currency, you’ll receive confirmation of the order that includes all the necessary information about AFEX’s secure account.
AFEX is a member of the global SWIFT network to ensure that all international money transfers are processed as quickly as possible. You can also track the progress of your funds through the AFEXDirect system.
Consider these points before signing up with AFEX
- Competitive exchange rates. AFEX can offer better exchange rates than you will be able to find from your bank.
- Forward contracts. The ability to take out forward contracts means you can take advantage of attractive exchange rates and avoid market fluctuations.
- Easy access. With an AFEXDirect account it's quick and easy to manage all your foreign currency payments online 24/7.
- Trusted company. AFEX has a reputation as a reliable provider of international money transfers and has been in the global payments industry since 1979.
- Limited information. There is a limited amount of information available on the AFEX website for customers seeking further details about the company’s services and features.
Sort out your other global payments problems with AFEX
- Corporate and treasury solutions. AFEX provides a range of corporate and treasury solutions for large corporations. The company adopts an integrated approach to help companies manage their risk and take advantage of opportunities that arise on foreign currency markets.
- SME solutions. Small to medium-sized enterprises can manage their exposure to fluctuations in the currency market by utilising payment services and risk management plans offered by AFEX. Solutions include forward contracts, rate orders, spot transactions and the AFEXDirect system.
- Industry solutions. AFEX also offers foreign currency solutions specially tailored to meet the needs of business in a range of industries, including imports and exports, claims management and real estate.
Read answers to your most common questions about AFEX
Can I use AFEX if I'm a non-resident?
Yes, people who are not Australian citizens or residents can apply for an AFEXDirect account. However, they will need to provide a certified copy of photo ID and proof of address along with their completed application form.
What’s their refund/dispute handling process?
AFEX has formal complaints handling procedures in place to ensure customer satisfaction. Complaints can be made by mail, phone or email, and AFEX aims to resolve any concerns by the next business day. However, further steps can be taken if this is not possible.
Is BPAY available?
Yes, AFEX accepts payments via BPAY.
Is there an app available to conduct transfers?
No, AFEX does not currently have an app which you can use to lodge transfers.
How can I check the balance/progress of my transfer?
All you have to do is log into your AFEXDirect online account and click on the relevant tab to monitor the progress of your funds.
Is cash pickup available?
No. If you want to transfer funds that can be picked up in person within minutes, consider using the services of a company like Western Union or MoneyGram.
The exchange rate is great at the moment but I don’t want to spend all my money on a foreign exchange right now. What can I do?
You can lodge a forward contract with AFEX to lock in the current exchange rate for a future transaction.
If you need to send funds overseas quickly and easily, it’s worth considering the money transfer solutions AFEX has to offer. However, be sure to compare its features with those of other forex companies to ensure that you find the company that offers the best deal.