Stay updated with Ofx tagged currency news, market trends, and exchange rate insights to make informed financial decisions.
We compare the features, exchange rates and security of the three best multi-currency accounts available today — the Wise Account, the WorldFirst World Account, and the OFX Global Currency Account.
OFX is a trusted international money transfer service, supporting transfers to over 170 countries in 50+ currencies. With no upfront fees, 24/7 access, and robust regulatory compliance, it offers a secure and convenient platform for global transactions.
OFX have made paying Australian Tax to the ATO from overseas easy while saving money on bank exchange rates and fees.
New research from the European Central Bank shows that banks charge smaller customers up to 25 times more for FX forward transactions and that those who fail to compare providers pay 14 times more for FX than those that do.
The OFX Global Currency Account is perfect for sellers who need foreign bank accounts in GBP, EUR, USD, AUD, CAD and HKD.
For many currency routes, FX costs have been slashed in recent years by a number of industry-disrupting fintechs, allowing such firms to slice great chunks from the banking sector’s lucrative remittance markets. Banks are fighting back, though, by developing low-cost, digital offerings of their own.
Remittances to low and middle-income countries reached a record high last year, the World Bank has said. Average transaction costs remain high, with an average of 7 percent paid to transfer $200 or equivalent.