How do I create a Recipient that can receive OFX Direct payments?

OFX Direct is a payment method that routes taps into the local payment rails. In many corridors this means instant payment delivery, in others payments could be received on the same day. All OFX Direct payment methods deliver funds in full value to the beneficiary. Before you can send an OFX Direct payment to someone, you need to add them as a recipient with OFX Direct set as their payment method.

Prerequisite: You need the Recipient Create permission in your OFX account to add recipients.

Next Steps

To create a recipient for OFX Direct payments, follow these steps:

Log into your OFX account and select Recipients from the left-hand navigation menu.
Click + Add Recipient.
Enter the recipient's Display name and select whether they are a Company or Individual. Click Next.
On the Banking Essentials screen, select the recipient's country using the country dropdown, then choose OFX Direct from the payment method options.
Click Next.
Enter the recipient's banking details. For Australian recipients, enter the BSB (Bank State Branch) and Account number. Click Next.
Enter the recipient's address details and click Next.
Confirmation: Review the recipient's details and click Save recipient.
Once saved, the recipient will appear in your Recipients list and will be available to receive OFX Direct payments.

Why is this important

Selecting OFX Direct as a recipient's payment method ensures your payments are routed through local payment rails. This avoids intermediary bank fees, thereby providing greater certainty that the full amount reaches the recipient. Setting up your recipient correctly the first time avoids payment delays and ensures funds reach the right account.