The company's customer base includes small and medium-sized businesses that import and export goods, those moving location and transferring financial assets overseas, expatriates repatriating funds, and individuals investing overseas. It established the UKForex www. In addition to these country brands, OzForex recently launched a new money transfer site, ClearFX www. The company has almost employees and more than , active global customers use OzForex to move funds internationally.
The fact that nearly all of our customers use us on a repeat basis, and refer us to family and friends is a testament to our focus on delivering the best service in the industry. The company provides customers the ability to transact 24 hours, five days a week online at competitive rates. Further, OzForex provides live customer service support around the clock with trained FX dealers, who assist customers with transaction questions. Also, customers are progressively gaining comfort with online financial services providers.
OzForex has effectively capitalised on both of these trends by providing the best online service that we have seen in the market. OzForex presents customers with a compelling, secure value proposition for moving funds from country to country — a huge, underserved market. OzForex has built an innovative, secure and cost-effective FX platform that is poised for significant growth.
Our initial investment in the company in was driven by its great potential for further expansion and we have seen this come to fruition during the past three years. We have been working closely with the OzForex management team to identify what is needed to accelerate and maximise this growth momentum.
This is particularly interesting if you believe the current exchange rate is favourable, or if you would rather not be exposed to the foreign exchange fluctuations to better manage your cash flow and risk. When setting up the forward contract, you only pay a small deposit and pay the rest when you make your transfer.
Limit and Stop Loss Orders A limit order allows you to choose an exchange rate that, when reached by the foreign exchange markets, will automatically trigger a transfer. OFX FX Options Currency options also known as FX options give the right but not the obligation to exchange money at a predetermined rate at a future date.
They allow you to guarantee a worst-case scenario, while potentially benefiting from fluctuations of the exchange rate in your favour. Business Customers OFX works with many companies around the world and across industries - from mining to e-commerce - to help them meet their foreign exchange needs. Examples include paying suppliers in China, outsourcing costs to the Philippines, global payroll through bulk payment uploads or Xero integration, international investments, acquisitions of other companies, process receivables through local collection accounts, and their new online seller solution e.
This allows you to always keep up to speed on how the market is evolving, and decide when is the best moment to make your international money transfer with OFX. Customers were very happy with how quick the entire process was, with the money being delivered the same day in certain cases. Using OFX is easy and simple. Negative OFX Reviews A few customers had isolated incidents with OFX, such as the money taking an extra day to arrive due to banking holidays, extra compliance checks, or falsely entered beneficiary account details.
After your registration, OFX will call you to complete the account setup and answer any questions you may have. If additional verification is required, which happens in a minority of cases, OFX will ask you to submit additional documentation. Login on the OFX platform and get a live exchange rate quote. If not, you will be required to provide verification documents.
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