​​When is the best time to send money, and what rate should I look for?

The best time to send money depends entirely on market movements, but the rate you should always monitor is the mid market rate. This rate is the true exchange rate. It represents the value of one currency against another before any service fees or margins are applied. It is also known as the interbank rate because it is the price that banks and large financial institutions use when trading currency with each other. OFX aims to offer exchange rates that are very close to this mid market rate, making their service cost-effective compared to banks that apply a much larger margin on top.