OFX (formerly Ozforex) International Money Transfers

Send your money overseas with OFX and you'll get a competitive rate and low fees.

OFX is one of the leading services of all things related to foreign currency exchange. It's a one-stop shop where you can transfer money to international accounts, get a travel card which allows you to spend safely and cheaply while overseas or if you're running a business, reduce the amount of money you have to spend towards conversion fees and margins.

They also provide currency news and tools so you can always stay informed.

When it comes to transferring money to a foreign country you'll want to know two things: what the exchange rate is and what fees you'll pay. OFX has you covered when it comes to these, as it aims to undercut the banks in both value and service.

Product NameOFX (Ozforex) International Money Transfers
Min. Transfer AmountAUD 250
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Email
Online Transfer FeeAUD 0
Phone Transfer FeeAUD 15
Exchange Rate UpdatesReal time


  • No fees on larger transfers
  • Forex tools available
  • No maximum sending limit
  • Can use for personal use, as well as business or for online sellers


  • Can only pay through your bank account
  • No cash pick-up
  • Must have an account with OFX to get a quote

OFX foreign exchange rates

OFX was founded to provide better rates to those who felt they were not getting a fair deal from the banks. They do this by combining the huge amount of customer deals they process and using this large number to get wholesale rates in the interbank market.

This basically means that rather than negotiating based on your individual transaction they'll group you with others and use the combined power to get a better rate. This is combined with a smaller margin which is as low as 0.4% for finder customers – compared to the average bank rate of 4%. This discounted margin on the exchange rate is exclusive to finder users only.

Rates are updated every 30 seconds on their website so you'll always have a clear idea of what your money's worth. This is in contrast to banks, which usually update their rates once per day but leave the door open for sudden rate changes.

How much does it cost to transfer money?

A good exchange rate is only half the story when it comes to international funds transfers – there's also the fees attached to the transfer itself. OFX charges a flat $15 fee for transfers less than $10,000. Any transfers more than $10,000 attract no transaction fees.

Minimum transfer amount and available countries

OFX allows you to transfer money into more than 50 currencies, including the currencies listed above and many others such as the Mexican Peso, Thai Baht, Chinese Yuan Renminbi and the Indian Rupee.

There are a few limitations to OFX's service. They won't transfer cash, nor allow cash to paid into their accounts and they don't accept cheques or credit card payments.

You also can't send funds to the following countries:

  • Afghanistan
  • Belarus
  • Burma
  • Democratic Republic of Congo
  • Republic of Congo
  • Cote d'Ivoire
  • Cuba
  • Iran
  • Iraq
  • North Korea
  • Lebanon
  • Liberia
  • Libya
  • Rwanda
  • Sierra Leone
  • Somalia
  • Sudan
  • Syria
  • Zimbabwe

The registration and transfer process

Before you can transfer your money overseas you need to register for an account with OFX. Registration is free and involves you completing three steps. These will involve you entering in your personal details including contact details, address and occupation and details surrounding your proposed money transfer.

Once this is completed you'll get both an email and a phone call to verify your identity and if this is successful you can log onto your account.

At this stage you'll get a rate quote for your transfer and from here all you need to do is add the receiving account details. OFX will contact you to confirm the transaction and you can then track the status of the transfer.

Transfers can reach the destination account the day after sending your money to OFX, but you should allow up to two days on top of this depending on where it's going.

Why choose OFX?

Apart from getting a better deal on your transfers in terms of both rates and fees, OFX has a number of benefits which you wouldn't necessarily get at a bank or anywhere else for that matter.

24 hour service. You can contact a member of OFX dealing team whenever you need assistance with something related to your transfer.

Personal contact. As stated above, you can call a member of OFX when you want to speak to someone. Not every service can boast of having this degree of personal contact in their transfer service.

They're regulated. OFX is regulated by the Australian Securities and Investment Commission (ASIC) and is able to safely transfer your money using Macquarie Bank's global risk management policies. It has a low risk business model and state-of-the-art website security measures in place including minimum 2048 bit Secure Sockets Layer (SSL) certificates for protective encryption of your transfer.

What other products and services does OFX offer?

OFX has a range of products and services for travellers, businesses and those wanting to keep a close eye on foreign currency developments. Here's a bit more about each.

OzForex Travel Card - The OzForex Travel Card gives you the opportunity to load selected currencies onto it and then spend without having to pay foreign transaction fees. It also keeps you money safe and separate from your bank accounts back home.

You can load up to nine currencies on one card and can use the internet to load more money onto it or swap between currencies wherever in the world you are.

Business transfers - OFX also work with businesses to give them a way to pay vendors or suppliers located overseas and to receive money. Working with OFX means you'll get your own dedicated foreign exchange dealer and 24-hour service.

Forex tools - There are many free tools available on the OFX website. You can convert currencies, compare currencies, read news and the latest reports about selected currency markets, generate charts and view raw data and more.

Limit Orders - This allows you to let OFX buy and sell one currency, for another at a rate that is better than the current rate. OFX will monitor the exchange rate for you and when your chosen rate is detected, the transfer will occur.

Forward Exchange Contract - This feature allows you to minimise the risks involved by locking in an exchange rate even if your funds need to transfer at a future date.

Pros and cons of an international money transfer with OFX


  • Better exchange rates than those offered by banks
  • Lower fees than those charged by banks and other services (free when you transfer over certain thresholds)
  • A suite of free forex tools available to help you make better informed decisions
  • 24-hour service


  • Smaller transfers of under $250 not allowed
  • They don't accept credit cards, cheques or cash as payment forms

FAQs about international money transfers with OFX

How do I pay funds to OFX?

You can transfer funds in any major currency to OFX through Electronic Funds Transfer (EFT). You can also BPAY, although remember you can't use cash or cheques.

How long after booking a rate do I need to transfer money?

You must transfer money to OFX within 24 hours.

Do I need to send funds before I lock in a rate?

No, you lock in a rate deal and provide your account details and then send the currency you're selling.

A bit about the history of OFX

OFX began in 1998 and is now a quickly growing company, finding a listing on the ASX in 2013.

They enabled customers to transfer $9.1 billion in 2013 and they have two million visitors coming to their website each month.

They're expanding their global reach too, which offices in Sydney, London, Toronto, San Francisco, Hong Kong and Auckland.

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International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

WorldFirst International Money Transfers

Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
*Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.

WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

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54 Responses

  1. Default Gravatar
    JohnNovember 15, 2018

    Can I transfer from Thailand to Australia.

    • finder Customer Care
      NikkiNovember 15, 2018Staff

      Hi John,

      Thanks for reaching out. You may certainly transfer funds from Thailand to Australia using OFX. Head over to their website regarding international money transfer. It will show different ways how to do a transfer whether its a Rapid Transfer (to lock in exchange rates) or Risk Management.
      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


  2. Default Gravatar
    RosnaniJanuary 18, 2017

    Hi my friend from Australia did use your service transfer the money via my bank in Malaysia almost 7 days. Who I suppose to check the transfer clearing in my accounts. Because I check from My Maybank is no fund cleared. My friend said the fund is in my accounts. Please advise me what I suppose to do and with who to check for the clearance money.


    • finder Customer Care
      LouJanuary 18, 2017Staff

      Hi Rosnani,

      Thanks for your question.

      With OFX, transfers can reach the destination account up to two days depending on where the money is sent.

      If the money is not yet available in your account after 7 days, it is best to contact OFX directly. They offer a 24-hour service so you can call them anytime on +61 2 8667 8090 (if you are calling from outside Australia).


  3. Default Gravatar
    MoOctober 12, 2016

    Regarding the special offer “There is also a $0 online transfer fee for all finder.com.au customers.”, is this a one off or ongoing special? How does OFX know to apply this offer to Finder customers? Thanks.

    • finder Customer Care
      ClarizzaOctober 13, 2016Staff

      Hi Mo,

      Thanks for your question.

      Only users who use the finder.com.au link are able to take advantage of the $0 fee offer.

      If the $0 offer hasn’t been applied, please let us know and we’ll pass on your details to OFX.


  4. Default Gravatar
    KateJuly 28, 2016

    Hi OFX,

    I would like to send about USD 10,000 to my Etrade account in the USA. It has to go from my NAB account (an AUD account) to Wells Fargo Bank, Routed to Etrade Clearing LLC to be deposited into my Etrade Brokerage Account. Is this something you can do? Or do all transfers have to be from Bank Account to Bank Account? I look forward to answer. Thanks, Kate

    • finder Customer Care
      MayJuly 28, 2016Staff

      Hi Kate,

      Thank you for your inquiry.

      Please note that you have come through to finder.com.au we are an Australian financial comparison website and general information service, not actually OFX.

      If you want to send money using OFX, please register on OFX by clicking the ‘Go to Site’ button above. You can also find more about the transfer process by reading the topic “The registration and transfer process” outlined above.

      In the meantime, aside from OFX, you also have the option to send money via wire transfer – that is from your NAB account to Wells Fargo Bank via online banking of NAB. You can complete the process when you visit and check NAB international funds transfer page.

      Hope this has helped.


  5. Default Gravatar
    BillMay 10, 2016

    Hi, We are an Australian business that would like to make payments to our suppliers and contractors in New Zealand. Can you confirm if the money sent via OFX goes direct to our suppliers bank account or is there a Correspondent in the middle that charges an additional fee for handling the transaction between ourselves and our supplier? We are happy to pay a transfer fee from our end but need to make sure the money we are sending to our supplier is paid in full into their account less any fees their own bank might charge to handle transfer of fx. Let me know when you can. Thanks.

    • finder Customer Care
      ShirleyMay 11, 2016Staff

      Hi Bill,

      Thanks for your question.

      The funds sent via OFX goes directly to the bank account you’ve specified, so there are no additional fees for handling the transaction.

      Hope this helps.

  6. Default Gravatar
    AlexMay 9, 2016


    I am planning to transfer money around AUD5000 to a bank in Turkey. The money transferred is to be deposited in USD currency at the receiving end as the account hold in the bank in Turkey is a USD account.
    I wonder would there be a bank fee to the receiving account in Turkey in addition to the transfer cost here (if any) and if so, what would be the approx. total cost in AUD?

    • finder Customer Care
      ShirleyMay 10, 2016Staff

      Hi Alex,

      Thanks for your question.

      Unfortunately we’re unable to tell you what the receiving fees are, this will depend on the Turkish back and it’s terms and conditions. I’d recommend that you get in touch with them directly.

      In terms of sending, there are no fees charged by OFX for sending funds overseas.

      Hope this helps.

  7. Default Gravatar
    KevinMarch 22, 2016

    “OFX are offering exclusive exchange rates to finder.com.au customers”
    I am trying to find these “exclusive rates” but there appears to be no difference whether I go straight to your site or through finder.com. I wish to transfer AUD100,000 to NZD. finder.com says i will get NZD111,536 but your site offers a customer rate of only NZD111,210. Can you tell me how to claim this higher rate please

    • finder Customer Care
      ShirleyMarch 23, 2016Staff

      Hi Kevin,

      Thanks for bringing this to our attention, it seems that it’s a technical issue.

      All finder customers should be receiving the exclusive rates and your accounts should be reflecting this.

      Please call OFX directly as it will be rectified through them.

  8. Default Gravatar
    keithMarch 17, 2016

    why can’t i use Poli any more?

    • Default Gravatar
      HarryMarch 18, 2016

      Hi Keith, thanks for you question.

      According to OFX’s FAQ page, acceptable payment methods include BPAY, EFT, Poli and Direct Debit. Please get in touch with OFX directly to troubleshoot why Poli isn’t working for your specific account.

      Hope this helps.

  9. Default Gravatar
    ShermanMarch 4, 2016


    I’m planning to transfer money from here to UK. I wonder would there be bank fee charge to the receiving account in UK? Would the transaction count as an international transaction made from Australia or the transaction are made by ofx UK counterpart and therefore the transaction is a locally made transaction.


    • finder Customer Care
      ShirleyMarch 8, 2016Staff

      Hi Sherman,

      Thanks for your question.

      The UK transfer is local, ie: OFX pay pounds sterling from Barclays London to the UK beneficiary bank, so there should be no transfer fees.

      You’ll pay AUD to your OFX (AUD) account in Sydney and once funds clear, OFX pay Sterling to the nominated (UK) account, from our London (GBP) account.

      There shouldn’t be recipient fees, but it’s best to check with the recipient bank.

      Hope this helps.

  10. Default Gravatar
    KayFebruary 22, 2016


    I have just made a transfer for the first time and have been notified that I will be contacted shortly to finalise the payment. I am needing this transfer done as soon as possible so was wondering could you please give an indication of when this would usually be? Eg. within an hour, next business day etc.

    Thank you

    • finder Customer Care
      ShirleyFebruary 23, 2016Staff

      Hi Kay,

      Thanks for your question.

      OFX usually processes transfers within 1 business day.

      I hope this helps.

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