The best time to send money depends entirely on market movements, but the rate you should always monitor is the mid market rate. This rate is the true exchange rate. It represents the value of one currency against another before any service fees or margins are applied. It is also known as the interbank rate because it is the price that banks and large financial institutions use when trading currency with each other. OFX aims to offer exchange rates that are very close to this mid market rate, making their service cost-effective compared to banks that apply a much larger […]
Once you confirm your transfer and the funds are received by OFX, you can easily track its status. OFX typically provides a tracking feature in your online account dashboard or via direct email updates, allowing you to monitor the transaction until the Euros are successfully credited to the German recipient’s account.
If you are looking to buy or sell foreign exchange in cash and want to head into a money changer near you, check out our local city guides to find the best exchange rate: Sydney – The best rates in Sydney are found on Pitt Street, George Street or occasionally in Haymarket. Melbourne – Money changers near Flinders Street Station have the best rates in Melbourne with the exception of United Currency in QV. Adelaide – Almost every foreign exchange store in Adelaide is located on King William Street. Perth – There aren’t too many money exchange places left in […]
The fastest method is typically using a debit or credit card to fund the transfer, combined with our service that offers fast payout processing. However, the ultimate speed is limited by how quickly the recipient’s local bank in Argentina processes the incoming funds.
The CBU (Clave Bancaria Uniforme) is a unique 22-digit identifier for a traditional bank account (held at a regulated bank). The CVU (Clave Virtual Uniforme) is the equivalent 22-digit identifier used for virtual accounts held by FinTech companies or payment service providers. Both codes function similarly for receiving transfers. Sources: https://www.bcra.gob.ar/mediospago/Clave-Virtual-Uniforme.asp and https://www.bcra.gob.ar/mediospago/Clave-Bancaria-Uniforme.asp
Due to Argentina’s rigorous foreign exchange regulations, this is critical. If you send funds in ARS, the exchange rate used will be the official wholesale rate, which may be significantly less favourable than market rates. Sending funds in USD (US Dollars) is further recommended, as the recipient can receive the money directly into their foreign-currency savings account, though limits on cash withdrawal may apply. Always consult a financial advisor regarding local regulations. Source: https://www.dentons.com/en/insights/alerts/2025/april/16/removal-of-foreign-exchange-controls-in-argentina
