The OFX Direct payment method enables customers to send payments through established connections with local payment rails in various countries. When you use OFX Direct, your payments are processed as domestic transactions, which can lead to faster processing times and lower fees compared to traditional international payment methods.

When you pay via the SWIFT Network, there is generally a higher transaction cost, usually $10 or more. It is important for us to note that none of this fee goes to OFX. It is simply the cost of using the SWIFT network, which we pass on to our customers. Although it is more expensive than OFX Direct, allows you to pay to beneficiaries outside the reach of local payment rails. It is also ideal for payments that need to be tracked or, in some instances, of higher value. SWIFT payments are still fast, usually paid within 0 and 2 business days.

List of countries OFX Direct can connect with local payment rails:

• USD - United States of America

• EUR - Europe

• GBP -Great Britain Pounds

• CAD - Canadian Dollars 

• Hong Kong Dollars - HKD

• NOK - Norwegian Krone

• IDR - Indonesian Rupiah

• HUF - Hungarian Forint

• CZK - Czeck Korunaies

• DKK - Danish Krone

• PLN - Polish Zloty

• PHP - Philippine Peso

• SEK - Swedish Krone

• SGD - Singapore Dollars

• INR - Indian Rupees

• MXN - Mexican Pesos

• MYR - Malaysian Ringgits

Why is this page important?
Understanding OFX Direct is essential for clients looking to optimise their payment processes and ensure timely transactions.

Next Steps

1. While creating a Recipient, OFX Direct payment method could be selected.

2. 

   You should use OFX direct when available.

   

3. Select the recipient with payment method 'OFX Direct'. Review on the Payment Confirmation that correct payment method is displayed.

Other Useful Articles:

• How do I create a payment?

• How do I add a new recipient whilst creating a payment?