OFX Money Transfer Exchange Rates Versus Banks
OFX is a great alternative to the banks when making an international money transfer because they understand that you want a seamless, cost-effective solution
Euro and UK pound exchange rates for OFX versus high street bank rates, banks typically apply an exchange rate margin of somewhere between 2 and 6 percent on transactions. This means that if you were to make a bank transfer overseas to or from euros using a standard bank service, then you could potentially lose thousands of pounds due to the poor FX margin rate offered by banks.
| OFX | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATES | MORE DETAILS |
|---|---|---|---|---|---|
| GBP £ - to EUR | £250 | 1 DAY | 0.7% | €1.196 | FREE QUOTE |
| EUR € - to GBP | €250 | 1 DAY | 0.7% | £0.824 | FREE QUOTE |
Transfer exchange rates are calculated and updated hourly (Monday to Friday) from 8 am to 4 pm UK – GMT
OFX – Global Money Transfers
Launched in 1998, OFX now have offices worldwide in Sydney, London, Hong Kong, San Francisco, Toronto and Auckland; To-date OFX has handled over £50BN in foreign exchange transfers on behalf of over 300,000 customers.
OFX UK Pound and Euro Exchange Rate Comparison
OFX aim to secure exchange rates which are as close to the interbank rate as possible. As exchange rates are highly volatile and fluctuate throughout the day, the exact exchange will be confirmed to you the moment the transfer is agreed. UK pound and euro exchange rate examples below:
Exchange rates can sometimes change and sadly banks do not always inform us when they alter them (especially if they raise exchange rates, rather than lower them). A lower foreign exchange rate will typically get you a better deal when sending money to/from euro. OFX can save you up to 4% of the transaction value as their FX margin rates are very low: 0.7%.
OFX – Free Money Transfers and Great Rates
Simply transfer the minimum amount of £100 or equivalent and they’ll take care the rest – no hidden costs or transfer fees, just the best rates. There is no obligation or cost involved when you sign up, so why not check out their live rates and compare them with what you would currently receive for your international money transfer? They’re pretty sure you’ll like what you see.
OFX Client Security
OFX is registered with HMRC as a Money Services Business under the Money Laundering Regulations (reg. no. 12219180) and authorised by the FCA as an Authorised Payment Institution (Firm Ref. No. 521566).
To register with OFX, there’s no obligation to trade, sign up free today: click here to register
