Good straight forward service. There's no way i'd do that if i was getting slugged fees all the time because they'd quickly add up but as i'm not it's not an issue. Torfxs rates over the years no longer match xetrades on the currencies I used. TorFx posted on Apr 18, Your trust is our top concern.
Nov 18, · Anyone uses them? Are they good? or do you know of better ones for forex transfers?
Save on Fees Sending Money Overseas
I had a customer on Friday who wanted to transfer 2. Rates are advertised on their website before you log in. I've been using for a few months and they've been great.
Marginally better rates than XE. Given the forex rates that I've seen from any of the retail banks, I find it extremely difficult to believe you could get a better deal with them. Just want to update this thread.. I just used them couple of days ago, I was pleasantly surprised by the speed of the transfer AFAIK local transfers between the foreign accounts took longer than that about business days.
I had to transfer a large amount once, told them I found a rate better from a bank overseas, and they matched it. Apparently I can get paid by my client straight to their Ozforex US Bank of New York account then execute a trade and have the funds sent to my Aussie account from their Aussie Westpac account.
We have a business where we facilitate the purchase, renovatiing and tenanting of USA real estate for Australian investors. We use and recommend Ozforex to our clients and we use it ourselves. I can see options for sending money overseas but what about money coming from overseas? I haven't checked but assuming Ozforex has a bank acct in Taiwan: I just checked my often-used xe. Perhaps the govt there has strict currency export controls not allowing them to freely move the money out.
I should have specified - both of those cards have locked in exchange rates, so with both our USD would already be locked in, ready to go when we arrive. It was more about the level of fees the ATM transactions would incur. Based on what was mentioned above, it might be more practical for us to stick with card associated with Bank of America as I have already confirmed that any withdrawals with that card at BOA ATMs will not attract any ATM fees whatsoever.
I was over there for the whole of April and probably only used an ATM 4 or 5 times. I just used the card as a credit card - hence no fees. You mainly want cash for small purchases and for tipping but even in a restaurant you just add the tip to your bill you pay with the card. Here if you use an ATM for a different bank than the one your card is from, you will get charged a fee - I would assume the same is true overseas even with credit cards.
We have the option of using a credit card instead of a pre-loaded travel card which will convert the USD depending on the exchange rate on that day, however with the falling Australian dollar, we thought it might be worthwhile locking in the rate now before it gets any lower. Go with the Citibank Plus debit card. I've used it extensively on 4 trips all over Europe for ATM withdrawals and have never been charged an ATM withdrawal fee, conversion fees etc what pretty much all other cards do. There's no way i'd do that if i was getting slugged fees all the time because they'd quickly add up but as i'm not it's not an issue.
I'm also using it for my upcoming trip to the US in Feb for 2 months and aren't expecting any fees there either, there's no way i'd travel with any other card. Head to the Whirlpool travel forum and you'll see a massive thread or two on the card and countless happy people that recommend it. Here's the latest Citbank Plus thread i mentioned if you're interested. Long thread but plenty of good info. Are you confusing consumer expenditures for two weeks with "investment"?
How do you know that exchange rates will continue to move in one direction? If someone could know that in advance, they would attract a lot of money to their investment bank. It might be better to concentrate on fees that are within your control. I use Bank of America at home in the US because they have so many branches. But I opened an account at a credit union that doesn't charge for Foreign Transactions. I personally prefer not to use my Debit i.
ATM Card as if it were a credit card - because it's connected to my bank account-and I don't want a sloppy retailer like Home Depot to give my cardnumber away! But some people who have trouble with credit cards typically confusing "credit" with "cash available to me", and getting over-extended Our staff may also remove posts that do not follow our posting guidelines, and we reserve the right to remove any post for any reason.
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OFX: customer reviews on Australia's largest opinion site speproin.tk out of 5 stars for OFX in Money Transfer Services/5(). OzForex Review. Head office: OzForex is one of the world's largest international money transfer companies, completing over , fund transfers a year. The company was founded in by Matthew Gilmour as a foreign exchange information website. By the firm had an ABN status active and by it had launched as an online dealing . Have used ozforex, xetrade, and torfx. Torfxs rates over the years no longer match xetrades on the currencies I used. Its like since they won the canstar award they now slightly rip you off. criticism or review. This is a public forum presenting user opinions on selected products and businesses, and as such the views expressed do not /5(77).