Foreign Exchange with OFX (NZForex)

Foreign Exchange with OFX (NZForex)

Transferring your money from New Zealand to Australia is a big deal. It is important to use a trusted foreign exchange partner and make sure you get the most money possible from your forex transfer. From our research the online foreign exchange companies give the best rates with less margin and little to no fees.

Editor's Note: We started off using our bank to transfer money to Australia from New Zealand, but got told by a friend that it is much cheaper to use an online foreign exchange company. I compared the costs and were surprised at the difference. We used OFX (used to be NZForex) for our transfers because they gave us the best possible rate for every transfer, with a way lower margin than the bank and did not charge us a fee, I was paying $25 with an extra 5% margin on the rate.

Benefits of OFX (our foreign exchange partner)

OFX is a great foreign exchange company that helps thousands of clients every year to transfer monies overseas. In essence they offer sharper exchange rates than the banks, less margine and lower transfer fees. OFX's foreign exchange service is simple to use with 24 hour online access and 24 hour support through their phone based dedicated dealing desk.

Register free here and find out how much money OFX can save/make you!

OFX is the new name for the OzForex/NZForex group. OFX is listed on the Australian Stock Exchange under the code OFX.

The OFX platform powers international money transfer services of ING Direct, Macquarie International Money Transfers, Travelex International Payments and Moneygram Money Transfers.

First launched in 1998 as an information-only website, OFX provides foreign exchange services across 6 continents:

  • 3,250 transfers made daily
  • AUD$100 billion in foreign exchange transfers
  • Approximately 65,000 website visits per day

OFX employs over 180 staff and has offices in Sydney, London, Toronto, San Francisco, Hong Kong, and Auckland.

Save money on your foreign exchange and register for free here.

Why use OFX for your foreign exchange instead of a bank

Most people are simply unaware of the high margins and fees that are often applied by the banks for international transfers. The difference in exchange rates can often mean savings of thousands, or even tens of thousands of dollars (depending on volumes being sent). OFX also provides hedging tools in order to assist you in managing the volatility of the foreign exchange markets.

If you are remitting funds to or from NZ or Australia, OFX can help (register for free here).

Special foreign exchange offer to visitors

NZForex has waived the transfer fee for all transactions over $2,000 NZD, for Moving to visitors. Register for free here.

About OFX

OFX focus on providing individuals and corporate clients with a better deal, the group has over 100,000 clients globally who transfer in excess of $10 Billion NZD per annum. By using OFX, you will enjoy;

  • Zero transaction fees
  • Extremely competitive foreign exchange rates across 52 currencies
  • Online access 24/7
  • Access to a dedicated Dealer by phone 24-hours a day, 7 days a week
  • Complete exchange rate transparency
  • Risk management tools through Limit Orders and Forward Exchange Contracts
  • Exchange rate alerts via email
  • Access to their highly regarded daily and weekly "Market Commentary"

Why not take advantage of the free, no obligation registration process - see how much you can save?

To receive the agreed benefits for Moving to you must register for free here.

Add comment


0 # ANSWER: Should we convert cash after property sales or purchase from NZMTA Team 2014-04-29 07:15
Hi Maxine,

Thank you for your enquiry.

New Zealand citizens are exempt from the requirement to obtain approval from the Australian Foreign Investment Review Board (FIRB) before they purchase an urban property in Australia, so it is possible for you purchase while in NZ.

However, I am unsure of if you would still need to transfer your money to Australia to pay for the home. I recommend calling an Australian agent and asking them, as they will be able to tell you the best way for you to buy a home in Australia based on your circumstances.

Regarding transferring your money to Australia. You will save a lot of money if you use a foreign exchange company rather than your bank and it is easy to setup and make transfers. I recommend using NZ Forex for your foreign exchange as I have used them and now a number of our clients. You can register using this link:, or find out more about the benefits of using NZForex by clicking here:

I have lived in Brisbane and it took us three months to discover what suburb we wanted to live in, so you do need to take that into consideration. It's a lovely city. You will love it.

Please let me know if there is anything else I can help you with.
Reply | Reply with quote | Quote
0 # Should we convert cash after property sales or purchase from NZMaxine 2014-04-29 07:12

My family is thinking of moving over to the Brisbane area and we well be selling 2 properties in NZ so we can purchase in Australia is it easier to purchase from NZ as an overseas investor or is it better to have all the money exchanged over to AUD and purchase when there??

Thanks Maxine
Reply | Reply with quote | Quote
0 # Highly Recommend NZForexDesiree Prendergast 2012-11-19 09:19
I just wanted to say thanks to NZForex for helping me transfer money internationally . I was recommended them by ausmove and from beginning to end it was a straight forward and easy process, plus someone was always on hand to answer any questions. I will be recommending NZForex to anyone who needs to transfer money around the world.

Thanks again.
Reply | Reply with quote | Quote
0 # ANSWER: Transfering money to NZ regularlyMTA Team 2012-11-07 01:16
Hi Hilton,

Thank you for your comment.

Yes Commonwealth would be able to help you with that, but I recommend you setup an account with NZForex, as they will save you a lot of money on transfer fees and margins.

They have an Australian division OZForex, so you will be able to deal with customer service in Australia when there.

More information on NZForex:

Benefits of NZForex:

Setup a free no obligation account with NZForex:

However, Commonwealth are a fantastic bank and you will need an Australia account either way. We bank with them and we love their high level of customer service, which is not standard in Australia, like NZ.

If you have not already setup a bank account in Australia, please fill out the form on the top right side, as this will save you time and stress on trying to do it over there:

Good luck with your move and please let me know if there is anything else I can help you with.

Kind Regards,
MTA Team
Reply | Reply with quote | Quote
0 # Transfering money to NZ regularlyHilton 2012-11-06 11:32
I am moving over to Sydney in the next 2 weeks and I need to be able to transfer funds over to NZ easily.

Does the commonwealth bank cater to this? ie. I want to go online transfer over to NZ and have this done on a weekly basis...

What are the additional costs for this service?
Reply | Reply with quote | Quote