Are there any transfer fees?
At OFX, we do not normally charge a fee if your transfer or transaction requires a currency conversion. However, for clients not transacting on the OFX Australia Business Platform, OFX charges a transaction fee of AU$15 when transferring under AU$10,000 (or foreign currency equivalent). This is a separate fee, the amount of which is unrelated to the exchange rate. You should factor this fee into the final cost of the transaction. If you are comparing rates, you should bear in mind that an attractive exchange rate may be offset by a high transaction fee (or vice versa).
For customers transacting on the OFX Australia Business Platform, we do charge a payment fee of AU$10 per payment when the payment goes out via SWIFT.
Third-party banks may deduct a fee from your transfer before paying your recipient. This fee may vary and OFX receives no portion of it. If you’d like more information, contact an OFXpert today.