Before you update a recipient’s payment method from SWIFT to OFX Direct, please note: You cannot directly change the payment method for an existing recipient from SWIFT to OFX Direct. You must delete the existing recipient and create a new one with the desired payment method.

To update a recipient from SWIFT to OFX Direct, follow these steps:

Delete the existing recipient (with SWIFT payment method):

1. Log into your OFX account.

2. Navigate to the Recipients section from the sidebar menu.

3. Locate and select the recipient you wish to update.

4. Click on the Delete button.

5. Confirm the deletion. This action will permanently remove the recipient.

Create a new recipient with OFX Direct as the payment method:

1. Refer to the following article for details on how to create a new recipient: How do I create a recipient?

After completion:

• The new recipient will now be available for future payments using OFX Direct.

• Review your recipient list to ensure all details are current and accurate.

Why is this page important?

Updating the payment method from SWIFT to OFX Direct ensures your transactions are processed using the most efficient and cost-effective payment rail available. OFX Direct payments are typically faster and may incur lower fees compared to SWIFT. Keeping your recipient list accurate also helps prevent payment errors and delays..