Please note that OzForex has rebranded to OFX
Its a shame I can only give them 1 star :(
I just wanted 700 USD and its been 4 weeks and still no money has been transferred!!!!
Do not go to them!!!!
I have so many emails of lies from them!!
I still dont know if I will get my money!!!
Last email was on friday and they said their bank has released the money and I will get it on Monday ... will its Friday and still no money!!!!!
DO NOT GO TO THEM!!!!!
They will change rates as they see fit
Wanted to do a one off transfer and locked in a FX rate via their website after creating an account. Transfer got cancelled and I had to speak with one of their representatives. Was advised a significantly lower rate would be offered and the original rate was no longer valid, checked spot rate and there was no movements. Checked their online booking service and there was also no movement. Didnt waste my time setting up a new transfer only to have it cancelled again, save yourself the time, these guy have no idea what they are doing.
I need to make some small transfers for utility bills, and after signing up for an account with OFX and uploading my passport I received a welcome letter and thought all was well. Then the fun started when they needed two docs proving my identification and address (which I promptly supplied). After over a WEEK of calls and emails -- all with different reps and all saying something different -- nothing has been sorted out. It appears that there is no continuity or organization between the AUS, UK and US offices. I have signed up with other companies in the past and was given a designated representative who would even email me in real time, seamlessly helping me set up my account, but OFX appears to be a big jumbled mess of people who don't know what is going on. Going forward I would not trust them and will not be doing business with them.
avoid at all costs
I initiated a large transfer with OFX and was unable to make the payment due to it being well above what the transfer limit that my bank allows with due to OFX being an “untrusted company” upon realising this I immediately sent my “account manager” an email informing them of this and asking for a suitable resolution.
I heard nothing in reply for 5 days until a different “account manager” told me that I would need to pay the money ASAP or would be required to pay over $5000 AUD in penalty fees as the exchange rate had changed over that time. Somehow under the impression that their complete lack or customer service and lack of professionalism is in some way my responsibility.
Now I am being threatened with legal action due to the transaction being incomplete through no fault of my own.
Avoid this company at all costs especially when moving large amounts of money, there are lots of other companies that are more professional and also offer better rates.
This is the first time I've used OFX instead of a SWIFT bank transfer and what a disappointment! OFX told me they are faster than SWIFT because they transfer money within the foreign location, from bank to bank, so there are not delays once you pay OFX. I set up the transfer request, paid OFX via instant pay in a bank-to-bank transfer (so they received my payment same day). It took them three days to confirm receipt of the money and another day to transfer funds to the foreign bank...which have still not arrived. Called their call centre and was told the funds are with my foreign bank, and tried to make out that my foreign bank is causing the delay. I explained that my foreign account is a platinum account, which means my deposits clear instantly. Absolute silence from the call centre guy... Basically, OFX is a whole lot of extra effort for absolutely zero benefit. If you're thinking about using them instead of a SWIFT bank transfer, save yourself the hassle and stick with you can rely on.
Terrible, Horrible, Must be New At This!!!
Lost $1400 dollars on return exchange rates after money was returned to me... then the excuses came flooding in... but only after repeatedly calling for answers...
Will haunt you with follow up calls, emails, promising to be your personalised client manager prior to you parting with your money but as soon as you pay the funds, contact stops...
Only two reasons why I have given one star rating... for one, I can't give zero and secondly, they did manage to complete my $50 trial transfer to ensure the funds would reach my recipient... but it took 5 days! Sending anything larger creates astronomical problems...
Hides behind the buracratic wall
After having an account for a couple of years, our latest engagement saw them cancel our account. I am told there were compliance issues. I am a compliance nazi, our operations are clean as a whistle. What I found to be beyond obnoxious is that way that they treated us during this transfer. It was held up in the process and when we enquired they wanted more and more paperwork. Then over a 6 week period, TWO of their consultants confirmed they would work with us to work out the bugs. Then after the payment was late and OUR reputation was put on the line they closed the account without a conversation. When I rang and complained they stood behind the corporate line that they had no obligation to advise why. Not only did their compliance team get it wrong, not that you get to speak to anyone there, but they denied the conversations that had been had. Trust me, this operation doesn't pass the pub test. If you are looking for a company that will stand with you at the time you need help, find someone else. You just get tired of dealing with companies that are "Too big to fail".
What would happen if YOU treated YOUR clients in this way?
Quick and efficient plus good rate
I just made a transfer from Sweden to Australia and I'm very happy with the ease of the process. Phone support was very good and it was easy to set up a new account. Before transferring I checked the exchange rate on netdania.com where you can see rates in 'real time'. I phoned up to get a quote which was around 0.5% (probably less) from the spot exchange rate. (for smaller sums you'd get a worse rate I'm sure) I locked in that quote and made the transfer from Sweden to a domestic account. A day later the funds were transferred to my aussie account. No extra fees. I'm pretty sure going through the banking system I would have had to pay fees, got a bad exchange rate and it would have taken longer. Happy customer!
Service is fine but rates are not competitive
I have used OFX for some time. Once set up, the service itself is fine. However, they used to have very competitive rates for transfers but this has been slipping. They are no longer that competitive. Need to shop around to get the best rates. Most of these services offer you a great initial rate, but then you have to keep comparing because the rates become very ordinary.
Hesitant to use this service
Ohhh boy - I’m still on an early stage of using this services, not sure how to handle it. I have 4 international transfers lined up but I was waiting to see what’s the first experience like. I love the update from their customer service team including online update. I transfer AUD to $2730 FJD. Fees of AUD$15 was also charged, NAB charged $10. With OFX exchange rate, it turns out to be a bit better than NAB. Cut long story short, it was paid in to my Fiji bank account with less $10 FJD. Together with bad reviews online, i will better stick with NAB for now!
Worst forex transfer I have used
I started a new transfer with ofx around a week ago which they cancelled on their own accord citing security compliance. When I called them up they told me they had not received the money inspite of me getting a confirmed transfer from my bank. After 3 calls to them and having to send them screenshots as proof that I have transferred funds to them they manage to find my funds :/ All this and they still have the audacity of charging a fee of $15
Never going to use them again
Great service however security may be an issue
Have used OFX for a number of years. Quick, efficient, good rates. I was however somewhat disturbed when my OFX account was hacked and my information compromised. I didn’t think that OFX response or security protocols were up to scratch given that they changed only my username and password. Long story short money was recalled and we "only" lost A$4000. OFX gave no other recommendation re security such as warning your beneficiaries or changing email passwords. So this is a reminder that you need to look after your own security as these companies are more concerned with churning DEALS than they are with putting up security barriers such as a further tiers of authentication like SMS authentication. I will continue to use OFX but will be far more wary.
Very Happy Customer
ASX company and good rates, was why we initially dealt with OFX Found our financial transaction was smooth and professionally handled. (Unlike dealings with ANZ bank another time which also didn’t have as good rates and took over a week to hit the recipient account)!
Every person we have dealt with at OFX has been extremely professional, friendly and we would highly recommend *****
Fast and prompt service Australia to USA money in US account within 16 hours
I have used OFX 3 times and have transferred a large some of money Australia to US. All 3 transactions had the money in the US bank account within 16 hours of commencing transaction. Customer service exceptional on my first transaction they phoned two minutes after submitting to guide me through the process and see if they could be of assistance. I would not hesitate in recommending this service, they have great rates. I tracked over the course of 2 weeks and usually found best rate Australian time between 12.30pm and 2.00pm, but obviously this would change. Had no fees a safe and secure way to transfer money. The call centre was also not foreign operated so the support was fabulous.
These people are so rude
They have blacklisted me for trying to send money to a company they say they won't deal with. OK maybe that's their choice but why do this to me. I have done nothing wrong. Now a bank has refused to except my money for a purchase i wanted to make. I worry that this might give me a bad financial score.
They Are Holding My Money
This is the second time I have transferred money from America back to my Australian bank account and the second time OFX has held my money at least two weeks with me chasing and chasing them for it.
Simple and easy
The best rates out there always ...the process is simple and quick.. trust worthy agents ..money in the bank in no time
from Canada to New Zealand
Great service. Very easy to move money from Canada to New Zealand since they have an account in a Canadian bank.
Good straight forward service
Used this service to transfer NZD to AUD recently. Communication from compnay was very good, with email updates sent at each stage of the process. Quick transfer and much better rates than the Bank were offering. Would use again.
Good service for small transfer just not large ones
It’s a great service if you’re looking for transfer small amount of funds because they’re happy to charge you a $15. They offer some of the best spreads in the market although be careful with the T&Cs in their agreements because they reserve the right to not complete your transfer at their discretion and without reason. If you want to transfer a huge sum, you’re probably better off using another provider as they scruntise your transaction and after holding onto you funds for 2-3 weeks, they may tell you they cannot complete because of ‘compliance’. By then, the market would’ve moved against you and you’ve lost thousands of dollars already where you could’ve chosen Transferwise or your local money changer and that could done the job and saved you a whole of money and time. Great service for nominal transaction, just don’t bet the house that they’ll deliver on their service if you’re life depended on it.
- ‹ Prev
- Next ›