FAQs

  • Why choose you over my bank or another provider?
  • How can I trust my money is safe with you? 
  • How do I register with the service?
  • What makes our rates so low?
  • Can I use the service if I am not already a client?
  • How long does an international funds transfer take?
  • Can I lock in an exchange rate before you have my funds?
  • How do I pay Travelex International Payments?
  • When do I need to pay after confirming a deal?
  • What is a forward contract?
  • What is a limit order?
  • Who is entitled to use this service?
  • Do you provide non web-based service?
  • What is the difference between ‘a telegraphic transfer’, a ‘wire’ and a ‘TT’?
  • What is the meaning of: Swift codes, Sort codes and ABA & IBAN numbers? 

 

Why choose us over my bank or another provider?

Choosing us over your bank will save you money, it’s as simple as that.

We check the rates of major banks and key competitors to ensure we give you the best overall quote on your money transfer – that’s the International Payments Price Promise.

We consistently save our clients thousands of dollars, and for larger amounts, the savings can exceed tens of thousands.

Travelex International Payments is provided by OzForex – a global FX specialist, providing:

  • Forward Contracts – For customers who need to make a payment on a specific date in the future
  • Limit Orders – For customers who want to make a transfer when a specific rate is triggered
  • Regular Payments – For customers who need to make regular transfers
  • 24 hour customer service Monday to Friday, with experienced and knowledgeable dealers
  • Superior technology
  • Better rates

How can I trust my money is safe with you?

  • Service provided by OzForex – a global FX transfer specialist
  • We offer a deliverable-only foreign exchange service
  • We do not hold positions in the market
  • We have low transactional/market risk

We uphold the highest level of security for our online platform, including:

  • Minimum 2048 bit SSL certificates to encrypt traffic
  • Thawte online security and protection

How do I register with the service?

You can register free of charge online 24/7.

Once you have registered, an experienced dealer will contact you to discuss your transfer requirements, answer any questions you might have and ensure that the system is set up to suit your needs.

Most often, the system will electronically identify you, eliminating the need for you to send through additional documentation. If this process cannot be completed, we will advise you of any documents that you need to provide.

Your payments can be made online, alternatively our staff are available 24 hours a day Monday to Friday for all your FX requirements.

What makes our rates so competitive?

We’re able to keep our rates down by transacting large volumes in the interbank market and passing these savings on to our clients. We are always committed to maintaining a high level of efficiency to keep our overheads low. That way we can offer the best rates to our clients.

Can I use the service if I am not already a client?

The majority of the Travelex International Payments website is available for both existing clients and the public. Charts, calculators, historical rates and international currency related information is available for use online. Compare our rates to those of your existing provider by logging into our payments service free of charge today.

How long does an international funds transfer take?

The service tries to ensure that your transfer reaches the recipient on the same day that your funds are cleared. In some cases this can take up to 1-2 days depending on the countries and currencies involved. For urgent transfers, please speak to your dealer to find out whether we can accommodate your needs.

Can I lock in an exchange rate before you have my funds?

Absolutely. The process for locking in an exchange rate is:

  1. Lock in a binding exchange rate
  2. Provide your beneficiary details
  3. Send us your payment
  4. We will send you the currency you have bought when we have received your funds

How do I pay you?

Clients can choose from a number of ways to transfer funds to us.

The most common manner of transferring funds is via Electronic Funds Transfer (EFT). The majority of banks have Electronic Funds Transfer (EFT) options and we have accounts in all major currencies. This ensures quick and reliable transfers.

We do not accept cash or cheques into our accounts.

When do I need to pay after confirming a deal?

Upon entering a binding agreement with us, we expect our clients to transfer money within 48 hours of the transaction.

We understand that life can get in the way sometimes, and that the banks can slow you down. In these cases, simply let your dealer know and we will do our best to accommodate your needs. 

What is a forward contract?

When one currency is exchanged for another at a future date, it is called a forward foreign exchange rate. 

You can save money with forward foreign exchange rates by using a forward foreign exchange contract.

Benefits of forward contracts include:

  • Locking in an exchange rate for a transaction that will occur at a predetermined future date (maturity date)
  • Allowing you to choose the rate at which you want to buy or sell
  • Protecting you from exchange rate movements that occur in the intervening period

What is a limit order?

By placing a limit order with us, you can instruct the service to buy or sell at a target rate that is superior to the current market rate.

Leaving a limit order will allow you to take advantage of exchange rate movements that occur at times when you are unable to monitor the rates yourself (even our most dedicated clients need their sleep!).

Limit orders are valid for anywhere between 2 – 365 days and are applicable for amounts in excess of $20,000.

Who is entitled to use the service?

At present, the service is only able to provide international payments to private clients who live in Australia and who transfer money to a recipient in a foreign country. The recipient of the transfer must possess a bank account that can receive funds.

Do you provide non web-based service?

24 hour customer service is available over the phone Monday to Friday, for all your FX needs. You will still be taking advantage of our competitive rates if you book your deal over the phone with one of our experienced dealers.

Contact us by clicking here.

What is the difference between ‘a telegraphic transfer’, a ‘wire’ and a ‘TT’?

Nothing! They are all names for making an electronic payment between banks.

What is the meaning of: Swift codes, Sort codes and ABA & IBAN numbers?

The SWIFT system ensures the secure transfer of information between banks. This secure messaging system makes it possible for banks to identify the bank and branch into which your money is being deposited. It also allows banks to inform each other about payments and accounts that are held between them.

REGISTER ONLINE today and enjoy superior rates and committed customer service.

Travelex International Payments service is brought to you by OzForex.

 

 

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OZForex Money Transfer Services

The Travelex International Payments service is provided in Australia by OzForex Limited (ACN: 092-375-703) (“OzForex”).

 

Information on this website is intended for residents of Australia only.

 

This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.

 

Before acting on any general advice on this website, you should consider its appropriateness to your circumstances.

 

This website contains information obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. OzForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.

 

Neither OzForex, its related entities, nor any of its providers of information, have any liability to the user, or any other third party, for the accuracy of the information or models contained in this website, or for any errors or omissions therein, nor will OzForex or any of its providers of information have any liability for the use, interpretation or implementation of the information or models contained herein by any person.

 

Travelex receives 50% of net revenue arising from OzForex’s provision of Travelex International Payments services. Net revenue is the revenue arising from foreign exchange margins (or spread) and fees, less all costs incurred in providing the services including but not limited to, administrative costs, compliance costs and sales and marketing costs.

 

For further details refer to the OzForex Financial Services Guide.

 

Price Promise  *Conditions Apply. Refer to the International Payments Price Promise Terms & Conditions.

**Exchange rates are current at the time of conversion and are subject to change without notice. Exchange rates are indicative only and do not include fees and charges that may apply. Certain foreign currencies are not available under Travelex International Payment service.

 

OzForex is regulated in Australia by ASIC (AFS Licence number 226 484) © 2011 OzForex Limited ABN 65 092-375-703.