Firma is now OFX
Firma and OFX have joined forces. You can continue to enjoy the same great benefits, plus an enhanced digital offering to help you manage your global payments and currency needs.
Transition from Firma to OFX in three easy steps
1. Step 1
We’ll let you know via email when it’s your time to transition. We’ll send you your new OFX Terms & Conditions.
2. Step 2
If you transfer online, complete your OFX account set-up: Set a new password, update your bank payee details and log-in to your account.
3. Step 3
Your OFX account is now ready to use. Log in or reach out to your representative.
New name, same great service
- Real people, real help; whether it’s for your next transfer or planning for currency volatility, your dedicated representative can help.
- Your existing payees will transition with you; add new recipients with ease via your representative or online 24/7.
- Keep track of your transaction history easily; access your OFX transfer history online 24/7. Need your past Firma transfers? No problem, reach out to your client manager.
- Continue to stay up to date with market news; Get a quick read on the global events that could impact your exchange rates. Weekly, or monthly in your inbox.
General FAQs
How does the acquisition impact me?
- Firma and OFX have joined which means you are now an OFX client.
- You’ll continue to get the same great service and access to great rates
Who is OFX?
- OFX is a leading international money services provider, helping our 1+ million clients move money globally.
- We have office locations in London, Sydney (our HQ), Edmonton, Dublin, Auckland, San Francisco, Toronto, Hong Kong and Singapore.
- We are listed on the Australian Stock market and regulated by over 50 regulators globally.
- With over 20 years in the industry, our human and digital business model provides 24/7 support to complement our global digital platform.
How is OFX regulated?
- OFX is an electronic money institution (EMI) regulated in the UK by the Financial Conduct Authority with respect to e-money.
- OFX is a global business with financial services licenses around the world. We engage with over 50 regulators globally on all types of financial crime which not only helps protect our clients, but also contributes to a safer financial environment.
How does OFX protect your money?
- As an EMI, OFX follows a process known as ‘safeguarding’. We hold a sum of money in a separate bank account to match the transfer to your recipient. These ‘safeguarded’ funds are kept separate from our other bank accounts and are subject to various controls. This protection continues until we have made the payment.
- In the event of OFX ceasing business, you and the claims of other eligible customers will be paid from the safeguarded funds in priority to others. There is no limit applied to the amount you can claim under safeguarding, but any administrative costs associated with returning funds to customers will be deducted first. Read more about how firms like OFX protect their customers on the FCA website.
I’m a Firma client, how do I make a transaction?
- Welcome to OFX, you’re now an OFX client. Please continue to reach out to us at +44-207-253-7183. If you’re an online enabled client you can use your OFX credentials, which have been emailed to you, to login and access our online platform 24/7.
When will I receive my OFX credentials?
- You should have received an OFX username via our Welcome to OFX email. If you have not received or cannot find the instructions, please call us at +44-207-253-7183 or email us at corporatelondon@ofx.com
I didn’t receive my OFX credentials?
- Please call us at +44-207-253-7183 or email corporatelondon@ofx.com. Please also check your junk or spam folder.
Why am I being asked to set up an OFX online account?
- For easy access to your new transaction history, your list of recipients, and to add recipients, which will be available to you online.
Where’s my password?
- Instructions to set up your password were provided by our Welcome to OFX email. You can do this online, by calling us at +44-207-253-7183 or email corporatelondon@ofx.com.
What’s my username?
- Your OFX username was emailed to you in our Welcome to OFX email.
- Be sure to have this handy each time you login to your OFX online account.
Where do I find the OFX bank payment details?
- OFX GBP and EUR bank payment details were emailed to you in our Welcome to OFX email, or you can access our OFX bank payment details in your new OFX online account. Login today and look for the Bank Details tab.
- Please contact your dedicated representative with any questions, or if you need account details for another settlement currency.
- We recommend saving these new OFX bank payment details as soon as you can, and removing your existing Firma bank details.
Do I need to sign an agreement with OFX?
- You should have received an email containing OFX’s terms and conditions. You don’t need to sign these documents.
What happens to my open / existing Forward Exchange contract?
- Your existing Forward Contracts have been moved over to OFX with the same terms. The payment details for where you will send funds to settle the contract have changed, but your rate remains the same. Clients with an open contract have been sent a Deed of Novation from OFX to be signed which confirms the details of the transition of the open forward contract to OFX.
What will happen to my Firma Direct Debits?
- Direct Debits will be transferred to OFX. Your Firma representative will be in touch to discuss this with you. If you don’t receive further information about your direct debit contact corporatelondon@ofx.com.
Do I have to add all my recipients into OFX?
- Your existing recipients will be moved to your OFX account. To add a new recipient, you can continue to reach out to your representative for help. Plus, you can add new recipients online if you’d like.
- Always confirm the details of your intended recipient before locking in a transfer.
How do I access my transaction history going forward?
- Login to your OFX account with the credentials provided to you via email. Click on the ‘transaction’ tab to find your recent transactions with OFX.
- If you’re looking for your Firma transaction history, please reach out to us at +44-207-253-7183;
How do I add a new recipient to my account?
- Login to your OFX account and click on the recipients tab to add a new recipient. Adding a recipient makes it easy to make single or recurring payments around the world. View our walk through here.
How can I make a same currency transfer?
- Please contact us at +44-207-253-7183 to arrange a same currency transfer.
How long will my payment take?
- More than 80% of major currency payments are cleared within the same day upon receipt of the funds to OFX, sometimes overnight depending on the final beneficiary location. Currency pairs are unique, and we work with our 16 banking partners to help move your money globally. Contact us 24/7 at +44-207-253-7183 for specific time frames for your currency pair.
What will happen to my existing market orders?
- These have been transitioned over to OFX. At OFX we call them Limit Orders.
What will happen to my consignment account?
If you’re holding funds with Firma in a consignment account, it will be moved to OFX. Please contact us at +44-207-253-7183 to discuss how your consignment account will be managed with OFX or email corporatelondon@ofx.com.
I currently use consignment accounts regularly, what should I do now?
- If you need to collect and hold funds from third parties, or connect to marketplaces and payment gateways, OFX’s Global Currency Account is a recommended option for you. Your representative can provide more details on the benefits of a GCA, alternatively you can find out more here.
- If the funds on consignment originate from a business account in your own name (to be used as a Forward Contract deposit or to support the settlement of a future spot deal) please contact an OFX representative.
I regularly receive funds into Firma from my customers, what will happen now?
- We recommend discussing this with your representative as OFX’s Global Currency Account might be the most suitable option for you to receive payments from around the world, hold funds and convert when it suits your business.
Legal documents
As part of your transition to OFX, you’ll be asked to read OFX legal documents.
You can refer to all legal documents via the links in the table opposite.
How-to guides
Once you make the transition to OFX, you’ll have access to our online platform 24/7. Here you can set up a new password and access your new transaction history 24/7. Rest assured, you’ll have continued access to your representative.
How to set up your OFX password
How to book a Spot transfer
How to add a recipient
About OFX
We grew from the idea that there had to be a better, fairer way to move money. That was over 20 years ago and since then over 1 million clients have trusted us with transfers to 170+ countries. Our clients get the best of both worlds – a seamless digital platform and 24/7 support to our currency experts (we like to call them OFXperts).
Here and ready to help
Whether you have a question about the transition or just want more details, you can check out our FAQs or give us a call. We’re here to help.
