Online money transfer services are typically cheaper and more convenient than traditional retail money changers. Retail stores incur high operational costs (such as rent, staffing, and insurance) that are often passed on to customers through wider exchange rate margins. Online providers bypass these large overheads, allowing them to offer more favourable exchange rates and lower overall fees. Learn more: Is It Cheaper to Buy Foreign Currency Online?
Determining the best time to send money is reliant on market fluctuations, but the crucial benchmark is the mid market rate. This rate is the true, interbank value of a currency pair, representing the rate before any service fees or margins are applied. OFX aims to provide rates extremely close to this mid-market figure, making their service a far more cost-effective solution than banks, which often add a much larger margin on top.
Once you confirm your transfer and the funds are received by OFX, you can easily track its status. OFX typically provides a tracking feature in your online account dashboard or via direct email updates, allowing you to monitor the transaction until the money is successfully credited to the Thailand recipient’s account.
Choosing your transfer method when wanting to send money to Hong Kong from Australia is a matter of trade offs. Generally, direct bank transfers offer the lowest cost, while using debit or credit cards provides faster transaction speed. OFX eliminates this compromise by combining competitive exchange rates with a secure, reliable process, ensuring your funds are delivered safely.
Sending money with OFX is highly secure. The platform uses bank-level encryption, secure logins, and continuous transaction monitoring to protect your funds and personal information. Additionally, OFX is a regulated financial institution overseen by authorities like ASIC, giving you peace of mind that you can transfer money from Australia to Hong Kong safely.
Transfers are generally completed by OFX within 1 to 4 business days when you want to send money from Australia to Hong Kong. The exact delivery speed may vary slightly, depending on your chosen transfer method and how quickly the receiving bank processes the funds.
